Form 4: Apollo Global Management's Co-President Scott Kleinman Reports Changes in Beneficial Ownership

Scott Kleinman, Co-President of Apollo Global Management, reports acquisition of common stock and adjustments to holdings in various investment vehicles.

Summary

• Scott Kleinman, Co-President of Apollo Global Management, filed a Form 4 detailing changes in his beneficial ownership of the company's stock.
• On February 13, 2025, Kleinman acquired 1,594 shares of common stock at a price of $163.8796 per share.
• The shares were issued under the Apollo Global Management, Inc. 2019 Omnibus Equity Incentive Plan for Estate Planning Vehicles and vest in installments.
• Kleinman's reported holdings include direct ownership of 4,676,291 shares of common stock, including vested and unvested restricted stock units (RSUs).
• He also has indirect ownership through various entities such as Heathcote Capital Partners LP, KRT Investments LLC, and several HCM APO Series LLCs.
• Kleinman disclaims beneficial ownership of securities held by KRT Investments LLC and KRT Delaware LLC, except to the extent of his direct or indirect pecuniary interest in KRT Investments IX LLC.

Sentiment

Score: 5

Explanation: This is a routine regulatory filing. The sentiment is neutral as it simply reports transactions.

Positives

• The acquisition of shares by a high-ranking executive could be interpreted as a positive signal about the company's prospects.

Future Outlook

The restricted shares 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.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

Comparison to Industry Standards

• Comparing Kleinman's holdings and transactions to those of other executives at similar firms (e.g., Blackstone, KKR, The Carlyle Group) would provide context on the scale of his investment in Apollo relative to his peers.
• Reviewing the vesting schedules of RSUs granted to executives at comparable companies can offer insights into Apollo's long-term incentive structure.
• Analyzing the types of investment vehicles used by executives at other firms to hold company stock (e.g., family trusts, LLCs) can reveal common estate planning strategies.

Stakeholder Impact

• The filing provides transparency to shareholders regarding the ownership stake of a key executive.

Key Dates