Form 4: Apollo Co-President Acquires Restricted Shares

Scott Kleinman, Co-President of Apollo Global Management, acquired 2,048 restricted shares of common stock at $129.23 per share as part of an equity incentive plan.

Summary

• Scott Kleinman, Co-President of Apollo Asset Management, Inc. and a Director of Apollo Global Management, Inc. (APO), acquired 2,048 shares of common stock.
• The transaction occurred on February 17, 2026, with the shares priced at $129.23 each.
• These shares are restricted and were issued under the Apollo Global Management, Inc. 2019 Omnibus Equity Incentive Plan for Estate Planning Vehicles.
• The restricted shares will vest in installments according to the applicable award agreement, contingent on Mr. Kleinman's continued service through the vesting dates.
• Following this transaction, Mr. Kleinman's reported beneficial ownership includes a total of 4,676,291 shares, which encompasses 4,651,303 vested and unvested restricted stock units (RSUs).
• Indirect holdings are reported through various entities including Heathcote Capital Partners LP, KRT Investments LLC, HCM APO Series LLC, KFGT LLC, and KDGT LLC.
• Mr. Kleinman disclaims beneficial ownership of securities held indirectly except to the extent of his pecuniary interest, specifically noting KRT Delaware LLC.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a moderately positive signal, as an executive acquiring shares, even restricted ones, generally indicates confidence in the company's future and aligns management's interests with shareholders.

Positives

• The acquisition of restricted shares by a Co-President aligns management's interests with long-term shareholder value, as vesting is tied to continued service.
• The transaction is part of an established 2019 Omnibus Equity Incentive Plan, indicating a structured approach to executive compensation and retention.

Future Outlook

The filing does not contain specific forward-looking statements or guidance beyond the vesting schedule of the restricted shares, which is contingent on continued service.

Management Comments

• Co-President of Apollo Asset Management, Inc.
• The reporting person disclaims beneficial ownership of securities held indirectly except to the extent of his pecuniary interest, and this report shall not be deemed an admission that the reporting person is the beneficial owner of such securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.

Industry Context

StockSavvy.ai notes that insider acquisitions, particularly of restricted stock tied to long-term service, are common in the financial services and asset management industry. Such transactions are typically viewed as a positive signal, indicating management's commitment and belief in the company's future performance, aligning executive incentives with shareholder interests. This is a standard practice for retaining key executives in competitive sectors.

Comparison to Industry Standards

• The acquisition of restricted shares as part of an equity incentive plan is a standard practice for executive compensation in the asset management industry, comparable to practices at firms like Blackstone, KKR, and Carlyle Group, which frequently use similar long-term incentive structures to align executive and shareholder interests.
• The vesting schedule tied to continued service is a common mechanism to promote executive retention and long-term strategic focus, consistent with corporate governance best practices observed across leading financial institutions.

Related Party Transactions

• The shares are held indirectly through various entities (e.g., Heathcote Capital Partners LP, KRT Investments LLC, KFGT LLC, KDGT LLC) which are directly or indirectly owned by the reporting person, his spouse, and certain family trusts. These are considered related party holdings.
• Shares previously held by the Kleinman Family GST Exempt Trust and Kleinman Descendant's GST-Exempt Trust were contributed in kind to KFGT LLC and KDGT LLC, respectively, without consideration and without a change in pecuniary interest.

Stakeholder Impact

• Shareholders: The acquisition of restricted shares by a key executive, tied to long-term service, generally signals management's commitment and aligns their interests with long-term shareholder value.
• Employees: The transaction is part of an equity incentive plan, which can be a positive for employee morale and retention, demonstrating the company's commitment to rewarding key personnel.

Next Steps

• The restricted shares will vest in installments in accordance with the terms of the applicable award agreement, provided the reporting person remains in service through the applicable vesting date.

Key Dates

Recommendation

This Form 4 filing details a routine acquisition of restricted shares by a Co-President as part of an existing equity incentive plan. While it signals management's alignment with long-term shareholder interests, it does not present new fundamental information that would warrant a change in investment thesis. It's an expected event for executive compensation and does not provide a strong catalyst for a 'buy' or 'sell' recommendation, thus maintaining a 'hold' position is appropriate.

Keywords

Apollo Global Management, APO, Scott Kleinman, Insider Transaction, Form 4, Restricted Stock, Equity Incentive Plan, Beneficial Ownership, Executive Compensation