Company: CGABL
Filing Date: 2025-04-17
Form Type: DEF 14A
Source: 0001527166-25-000032
Chunk: 94

Company: Carlyle Group Inc.
Filing Date: 2025-04-17
Form: DEF 14A
Chunk 94
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 common stock and certain other restructuring steps occurred. In connection with the Conversion, on January 1, 2020, the Tax Receivable Agreement, dated as of May 2, 2012, was amended and the Registration Rights Agreement with Senior Carlyle Professionals, dated as of May 8, 2012, was amended and restated, in each case, to give effect to and reflect the Conversion. In connection with the Conversion, on January 1, 2020, we entered into stockholder agreements with William E. Conway, Jr., Daniel A. D’Aniello, and David M. Rubenstein (collectively, the “Co-Founders” and such agreements, the “Stockholder Agreements”). See “Stockholder Agreements” below for additional information. In connection with the Conversion, the Carlyle Holdings partnership units that were held by the limited partners of Carlyle Holdings were exchanged for an equivalent number of shares of common stock, including 17,000 Carlyle Holdings partnership units that were exchanged by Carlyle Group Management L.L.C., the former general partner of The Carlyle Group L.P. Holders of Carlyle Holdings partnership units received cash payments aggregating approximately $344 million, which is equivalent to $1.50 per Carlyle Holdings partnership unit exchanged in the Conversion, payable in five annual installments of $0.30 each year beginning in January 2020, with the final installment having been paid in January 2024. Of this aggregate amount, Messrs. Conway, D’Aniello, Rubenstein, Ferguson, Finn, Hance, and Redett received $66,749,466, $66,749,466, $70,499,466, $941,724, $312,432, $377,070, and $67,445, respectively. None of our independent directors nor Mr. Schwartz and Ms. LoBue were limited partners of the Carlyle Holdings partnerships and did not receive any payments related to the foregoing. The payment obligations were unsecured obligations of the Company or a subsidiary thereof, subordinated in right of payment to indebtedness of the Company and its subsidiaries, and did not bear interest. STOCKHOLDER AGREEMENTS Pursuant to the Stockholder Agreements, each co-founder has the right to designate one director to our Board of Directors for so long as such co-founder and/or his “Founder Group” (as defined in the Stockholder Agreements) beneficially owns at least 5% of our issued and