Form 4: Leon Black Gifts 6 Million Apollo Global Management Shares to Spouse

Leon Black, a significant figure at Apollo Global Management, gifted 6 million shares of common stock to his spouse on May 9, 2024, impacting his directly held beneficial ownership.

Summary

• On May 9, 2024, Leon Black gifted 6,000,000 shares of Apollo Global Management, Inc. common stock to his spouse.
• This transaction decreased his direct ownership to 36,604,773 shares.
• Black may be considered part of a 'group' under the Securities Exchange Act of 1934 due to the Apollo Global Management, Inc. Stockholders Agreement, but he disclaims beneficial ownership of securities owned by the group that he doesn't directly own.
• He also disclaims beneficial ownership of the securities except to the extent of his pecuniary interest.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing detailing a stock transfer. It doesn't inherently convey positive or negative sentiment, but rather reports a factual transaction.

Management Comments

• The Reporting Person disclaims beneficial ownership of any securities deemed to be owned by the group that are not directly owned by the Reporting Person.
• The Reporting Person disclaims beneficial ownership of the securities except to the extent of his pecuniary interest therein.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to the market regarding their transactions.

Comparison to Industry Standards

• Form 4 filings are a standard regulatory requirement for corporate insiders in the United States, ensuring transparency in the market.
• Similar filings are required for insiders at companies like Blackstone (BX) and KKR & Co. Inc. (KKR) when they engage in transactions involving their company's stock.
• These filings help investors track the ownership stakes and activities of key individuals within these firms.

Related Party Transactions

• The gift of 6,000,000 shares to Leon Black's spouse constitutes a related party transaction.

Stakeholder Impact

• The gift of shares may have a minor impact on shareholders due to the change in ownership structure.
• The transaction does not appear to directly impact employees, customers, suppliers, or creditors.

Key Dates