Form 4: Apollo Global Management Executive Enters Forward Sale Agreement for Up to 500,000 Shares

Joshua Harris, through affiliated entities, entered into a forward sale agreement involving up to 500,000 shares of Apollo Global Management, Inc. common stock.

Summary

• Joshua Harris, through MJH Partners II LLC and its subsidiary MJH Partners III LLC, entered into a delayed draw variable share forward sale transaction with an unaffiliated bank on October 14, 2024.
• The agreement involves up to 500,000 shares of Apollo Global Management, Inc. common stock.
• MJHP III pledged 500,000 shares of common stock to secure its obligations under the agreement but retains voting and ordinary dividend rights.
• The number of shares to be delivered to the bank will be determined based on the Settlement Price, Floor Price, and Cap Price of the common stock on the relevant settlement date.
• The agreement includes provisions for both prepaid and non-prepaid components, with different settlement mechanisms based on whether a prepayment has been made.
• Joshua Harris disclaims beneficial ownership of the reported securities except to the extent of his or its pecuniary interest therein.

Sentiment

Score: 5

Explanation: The document describes a financial transaction. It is neutral in tone and does not inherently indicate positive or negative sentiment.

Industry Context

Forward sale agreements are often used by executives to monetize their holdings while deferring capital gains taxes and maintaining some level of control over the shares.

Stakeholder Impact

• The transaction could potentially impact shareholders depending on the future settlement price of the shares.
• The agreement could affect the market price of Apollo Global Management, Inc. common stock.

Key Dates