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

Apollo Global Management's Co-President, James Zelter, reported the sale of 5,173 shares to cover tax obligations and the transfer of shares to a 2024 GRAT.

Summary

• James Zelter, Co-President of Apollo Global Management, reported a transaction involving the sale of 5,173 shares of common stock at a price of $163.67 per share.
• These shares were sold to cover tax obligations related to the vesting of shares granted under the company's 2019 Omnibus Equity Incentive Plan.
• The report also details that Mr. Zelter directly owns 5,032,481 shares, which includes 4,887,055 vested and unvested restricted stock units.
• Additionally, Mr. Zelter 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.
• Shares previously reported as directly held by Mr. Zelter have been transferred to The James C. Zelter 2024 GRAT No. 1.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing detailing share transactions, which is neither positive nor negative in itself. It reflects standard corporate governance practices.

Industry Context

This filing is a routine disclosure of share transactions by a company executive, which is common in the financial industry. It provides transparency into the trading activities of key personnel.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies in the United States, ensuring transparency of insider transactions.
• The reported transactions are typical for executives who receive equity compensation and need to cover 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 sale to cover tax obligations.
• The disclosure provides transparency to the market regarding insider transactions.

Key Dates

Keywords

Apollo Global Management, James Zelter, share transactions, Form 4, insider trading, equity incentive plan, restricted stock units, GRAT