Apollo (NYSE: APO) announced that its outstanding 6.75% Series A Mandatory Convertible Preferred Stock will automatically convert into common stock on July 31, 2026. Each preferred share will convert into 0.5074 Apollo common shares, with cash paid instead of any fractional common shares. Holders of record as of July 15, 2026 will receive a final quarterly cash dividend of $0.8438 per preferred share, payable on the conversion date, according to Apollo.
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Positive
Mandatory preferred converts to common on July 31, 2026
Fixed conversion rate of 0.5074 common shares per preferred share
Final quarterly preferred dividend of $0.8438 per share payable on conversion date
Negative
None.
Market Context
Historical event 1083736 recorded a -1.85% 24-hour reaction, underscoring mixed company-specific res...
Analysis
Historical event 1083736 recorded a -1.85% 24-hour reaction, underscoring mixed company-specific responses. Against that record, this conversion notice supplied defined terms; recent net selling remains a relevant risk factor to monitor.
Key Figures
Preferred stock rate:6.75%Conversion date:July 31, 2026Conversion rate:0.5074 shares+2 more
5 metrics
Preferred stock rate6.75%Series A Mandatory Convertible Preferred Stock
Conversion dateJuly 31, 2026Automatic conversion into common stock
Conversion rate0.5074 sharesPer share of Preferred Stock
Record dateJuly 15, 2026Preferred Stock dividend eligibility
Final quarterly dividend$0.8438 per sharePreferred Stock, payable on the conversion date
Apollo funds agreed to sell their direct Great Bay Renewables interest.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Pattern Detected
Recent history showed mixed responses: three transaction or partnership announcements had positive reactions, while an expected revenue update and one acquisition-related event diverged.
"outstanding 6.75% Series A Mandatory Convertible Preferred Stock"
A mandatory convertible preferred stock is a type of investment that pays regular income like a preferred share but is designed to automatically turn into a set number of common shares at a future date, much like a timed coupon that becomes company ownership. It matters to investors because it combines a near-term income stream with a guaranteed future increase in the company’s share count, which can dilute existing owners and change earnings-per-share and voting balance.
conversion ratefinancial
"The conversion rate for each share of Preferred Stock will be"
Conversion rate is the proportion of items, people or contracts that take a desired action out of the total possible — for example the share of website visitors who make a purchase, or the number of convertible bonds that are exchanged for shares. Investors care because it measures how effectively a business or financial instrument turns opportunity into real outcomes, like sales or share issuance, which directly affects revenue, cash flow and ownership dilution.
NEW YORK, July 30, 2026 (GLOBE NEWSWIRE) -- Apollo Global Management, Inc. (NYSE: APO) (the “Company”) announced today that its outstanding 6.75% Series A Mandatory Convertible Preferred Stock (the “Preferred Stock”) will automatically convert into shares of the Company’s common stock on July 31, 2026 (the “conversion date”).The conversion rate for each share of Preferred Stock will be 0.5074 shares of the Company’s common stock. Cash will be paid in lieu of fractional shares of common stock.
As previously announced, holders of record at the close of business on July 15, 2026 will separately receive a final quarterly cash dividend of $0.8438 per share on the Preferred Stock, payable on the conversion date.
About Apollo
Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees and the communities we impact, to expand opportunity and achieve positive outcomes. As of March 31, 2026, Apollo had approximately $1.03 trillion of assets under management. To learn more, please visit www.apollo.com.
Contacts
Noah Gunn Global Head of Investor Relations Apollo Global Management, Inc. (212) 822-0540 IR@apollo.com
Joanna Rose Global Head of Corporate Communications Apollo Global Management, Inc. (212) 822-0491 Communications@apollo.com
FAQ
When will Apollo (APO) 6.75% Series A Mandatory Convertible Preferred Stock convert to common shares?
Apollo’s 6.75% Series A Mandatory Convertible Preferred Stock will automatically convert into common stock on July 31, 2026. According to Apollo, this date is the mandatory conversion date, and holders will receive common shares plus cash in lieu of any fractional shares.
What is the conversion rate for Apollo (APO) Series A Mandatory Convertible Preferred Stock?
Each share of Apollo’s Series A Mandatory Convertible Preferred Stock will convert into 0.5074 shares of Apollo common stock. According to Apollo, any fractional share amounts resulting from this conversion formula will be settled in cash rather than additional common shares.
Will Apollo (APO) preferred shareholders receive cash for fractional common shares at conversion?
Yes, Apollo preferred shareholders will receive cash instead of fractional common shares created by the conversion. According to Apollo, any fraction of a common share arising from the 0.5074 conversion rate will be paid in cash on the July 31, 2026 conversion date.
What is the final dividend for Apollo (APO) 6.75% Series A Mandatory Convertible Preferred Stock?
The final quarterly cash dividend is $0.8438 per preferred share. According to Apollo, this dividend will be paid on the July 31, 2026 conversion date to holders of record at the close of business on July 15, 2026.
Who qualifies for the final dividend on Apollo (APO) Series A Mandatory Convertible Preferred Stock?
Holders of Apollo’s preferred shares of record at the close of business on July 15, 2026 qualify for the final dividend. According to Apollo, these holders will receive a $0.8438 per share cash dividend on the July 31, 2026 conversion date.
