Item 5.02 Departure of Directors or Certain Officers; Election of Directors;


          Appointment of Certain Officers; Compensatory Arrangements of Certain
          Officers

On December 16, 2021, Mostafa Nagaty, Chief Financial Officer and Treasurer of KKR Real Estate Finance Trust Inc. (the "Company"), informed the Company of his intention to resign from the Company. Mr. Nagaty has agreed to assist the Company in the transition of his responsibilities, and it is expected that he will remain as Chief Financial Officer and Treasurer of the Company through March 1, 2022.

On December 17, 2021, Kendra Decious was appointed as the Company's Chief Financial Officer and Treasurer, effective upon Mr. Nagaty's departure. Ms. Decious is currently a Managing Director in the finance group of KKR & Co. Inc. and its subsidiaries ("KKR"), and has been with KKR since 2006. She currently serves as Head of Strategic Planning and Budgeting and is responsible for day-to-day communications with the KKR Board of Directors. From 2006 to 2010, Ms. Decious was the Chief Financial Officer of KKR Private Equity Investors, L.P., the publicly listed vehicle that was combined with KKR's business to create KKR & Co. Inc. In this capacity Kendra was, and currently still is, responsible for the accounting, reporting and risk controls for all of KKR's balance sheet investments. Previously, Ms. Decious was responsible for the finance groups of KKR's Capital Markets, Hedge Funds and Stakes businesses. Ms. Decious currently serves on the Board of Directors and Audit Committee of CHI Overhead Doors, a KKR portfolio company, and is a founding member of KKR's Global Risk & Operations Committee. Previously, she served as a founding member of KKR's Inclusion and Diversity Advisory Committee and as a member of KKR's Energy and Infrastructure Valuation Committee and PAAMCO Prisma's Audit Committee. Prior to joining KKR, Ms. Decious was a Vice President at KinderCare Learning Centers, with responsibility for the Finance & Accounting and Procurement departments, and was a Director at Red Lion Hotels, responsible for SEC and Financial Reporting. Ms. Decious began her career at KPMG and is a certified public accountant (inactive).

Pursuant to the terms of the Company's management agreement with KKR Real Estate Finance Manager LLC (the "Manager"), the Company will reimburse the Manager or its affiliates for the Company's allocable share of the compensation (including annual base salary, bonus and any related withholding taxes and employee benefits) the Manager pays to Ms. Decious in her capacity as the Company's Chief Financial Officer based on the percentage of her time spent on the Company's affairs. Ms. Decious will also be eligible to participate in the Amended and Restated KKR Real Estate Finance Trust Inc. 2016 Omnibus Incentive Plan.

In order to ensure an orderly transition of Mr. Nagaty's responsibilities and duties, the Company and Mr. Nagaty have entered into a Separation Agreement, which was approved by the Compensation Committee of the Board of Directors of the Company and provides that, in consideration for agreeing to provide the transition services described above, (i) Mr. Nagaty will receive payment of his regular base salary through the date of his departure and be eligible for a pro rata discretionary bonus for 2022 and (ii) the service requirements associated with Mr. Nagaty's restricted stock unit awards due to vest on October 1, 2022 will be waived.

Item 7.01 Regulation FD Disclosure

On December 20, 2021, the Company issued a press release announcing the matters set forth in Item 5.02. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

As provided in General Instruction B.2 of Form 8-K, the information in this Item 7.01 and the exhibit furnished hereunder shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall they be deemed to be incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing.

Item 9.01 Financial Statements and Exhibits.





(d) Exhibits.



Exhibit
  No.      Description

  99.1     Press Release of KKR Real Estate Finance Trust Inc., dated December 20, 2021

  104      Cover Page Interactive Data File, formatted in Inline XBRL

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