UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D)
OF THE SECURITIES EXCHANGE ACT OF 1934
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Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On December 9, 2024, the Compensation Committee of the Board of Directors of Apollo Global Management, Inc. (“AGM”) approved a grant of restricted stock units (“RSUs”) providing the right to receive shares of AGM common stock with a value of $10 million to Martin Kelly, AGM’s Chief Financial Officer. The RSUs, which will be granted on December 20, 2024, are in recognition of Mr. Kelly’s performance, and are intended to retain Mr. Kelly and more closely align his compensation level with our peer group. The RSU award will be considered when making annual compensation determinations for Mr. Kelly for the next three years, and is intended to provide $3.3 million per year over such period. The RSUs are subject to the satisfaction of an AGM performance fee income requirement and the underlying shares will not be delivered until 2028. If Mr. Kelly voluntarily resigns before December 31, 2027, delivery of the shares underlying the vested RSUs will be delayed for two years until 2030. No shares underlying the RSUs will be delivered if Mr. Kelly breaches certain applicable restrictive covenants (including non-competition and non-solicitation provisions) or if he is terminated for cause. Dividend equivalents will be paid with respect to the RSUs.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: December 13, 2024
| APOLLO GLOBAL MANAGEMENT, INC. | |||
| By: | /s/ Jessica L. Lomm | ||
| Name: Jessica L. Lomm | |||
| Title: Vice President and Secretary | |||