Form 4: Apollo Global Management Co-President James C. Zelter Reports Share Transactions

Apollo Global Management's Co-President, James C. Zelter, reported a transaction involving the withholding of shares to cover tax obligations and disclosed his beneficial ownership of common stock through various entities.

Summary

• James C. Zelter, Co-President of Apollo Global Management, reported a transaction on November 27, 2024, where 33 shares of common stock were withheld by the company to cover tax obligations.
• The transaction occurred at a price of $163.63 per share.
• Following the transaction, Mr. Zelter directly owns 5,032,448 shares of common stock.
• Mr. Zelter also indirectly owns 1,112,500 shares through Zelter APO Series LLC, 781,722 shares through The James C. Zelter 2023 GRAT No. 1, and 635,175 shares through The James C. Zelter 2024 GRAT No.1.
• The reported amount includes 4,886,997 vested and unvested restricted stock units (RSUs).

Sentiment

Score: 7

Explanation: The document is a routine SEC filing detailing a standard transaction for an executive. It does not indicate any positive or negative sentiment, but is a normal part of corporate governance.

Management Comments

• The shares were withheld to satisfy tax obligations related to the delivery of shares granted under the Apollo Global Management, Inc. 2019 Omnibus Equity Incentive Plan.

Industry Context

This is a routine filing related to insider transactions and is common for executives of publicly traded companies.

Comparison to Industry Standards

• Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, such as executives and directors, in accordance with SEC regulations.
• The reported transactions are typical for executives who receive stock-based compensation and are required to manage their tax obligations.
• The use of GRATs (Grantor Retained Annuity Trusts) is a common estate planning strategy for high-net-worth individuals, including corporate executives.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine tax withholding event.

Key Dates

Keywords

Apollo Global Management, James C. Zelter, share transaction, beneficial ownership, restricted stock units, tax withholding, Form 4, insider trading