KKR Gives Co-CEOs Bae, Nuttall Shot at $1 Billion in Stock (1)

KKR & Co. gave Co-Chief Executive Officers Joseph Bae and Scott Nuttall incentive packages that could leave them each holding more than $1 billion in stock if they meet all targets in coming years.

The firm granted both of its new leaders 7.5 million in equity-linked units that would vest in five installments if the stock price reaches certain levels and they stay for at least five years, according to a regulatory filing Friday.

The value of the package today is $565 million based on Friday’s closing price -- though they aren’t eligible for a payout at that level. If ...