Form 4: Apollo Global Management Insider Enters Forward Sale Agreement for Up to 1 Million Shares

Joshua Harris, through affiliated entities, entered into a delayed draw variable share forward sale transaction involving up to 1,000,000 shares of Apollo Global Management, Inc. common stock.

Summary

• On June 20, 2024, MJH Partners III LLC, a subsidiary of MJH Partners II LLC, entered into a delayed draw variable share forward sale transaction with an unaffiliated bank.
• The agreement relates to up to 1,000,000 shares of Apollo Global Management, Inc. common stock.
• MJHP III is obligated to deliver up to 1,000,000 shares of common stock (or cash equivalent) to settle the agreement.
• MJHP III pledged 1,000,000 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 depends on the Settlement Price, Floor Price, and Cap Price as defined in the agreement.
• Joshua Harris exercises voting and investment control over MJHP III and MJHP II.
• The reporting persons disclaim beneficial ownership of the reported securities except to the extent of his or its pecuniary interest therein.

Sentiment

Score: 5

Explanation: The sentiment is neutral as it reports a financial transaction. It doesn't inherently indicate positive or negative outlook for the company.

Future Outlook

The agreement allows MJHP III to receive prepayments from the bank and outlines the conditions for settling the transaction based on the stock price at the settlement date.

Industry Context

Forward sale agreements are often used by insiders to monetize their holdings while retaining some of the potential upside and voting rights. This transaction allows Joshua Harris to potentially access capital while maintaining some exposure to Apollo's stock performance.

Stakeholder Impact

• The transaction could have a minor impact on shareholders depending on the settlement price and the number of shares ultimately delivered.
• The agreement does not directly impact employees, customers, suppliers, or creditors.

Key Dates