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Apollo Trims ADT Position with 71M-Share Sale, Remains Major Holder

Filing Impact
(Very High)
Filing Sentiment
(Very Negative)
Form Type
4

Rhea-AI Filing Summary

Form 4 Insider Transaction – ADT Inc. (ADT)

  • Reporting persons: Apollo Management Holdings GP, LLC and affiliated Apollo entities, each a 10% owner.
  • Date of trade: 07/28/2025 (filed 07/30/2025).
  • Transaction code: S – open-market sale of common stock.
  • Shares sold: 71,000,000 at $8.31 per share (≈ $590 million).
  • Remaining stake: 112,650,366 shares held indirectly after the sale.

No derivative securities were reported. The sale materially reduces Apollo’s position yet leaves it with a substantial holding, implying continued influence but signalling possible profit-taking or portfolio rebalancing. Large dispositions by a controlling shareholder are often viewed as a bearish indicator, though ongoing ownership above 100 million shares may temper concerns.

Positive

  • Apollo retains 112,650,366 shares, indicating continued vested interest and potential alignment with other shareholders.
  • Increased free float from the 71 M-share sale may enhance liquidity and attract larger investors.

Negative

  • 71,000,000-share insider sale by a 10% owner is a bearish signal and may exert downward price pressure.
  • Sale price of $8.31 suggests limited confidence in higher near-term valuation, raising concerns among investors.

Insights

TL;DR: Apollo sold 71 M ADT shares (~$590 M); sizeable divestiture is a clear negative sentiment signal.

A 10% owner unloading roughly 39% of its previously reported stake in one block (71 M shares) is materially bearish. The trade, coded “S,” confirms an open-market sale rather than an internal transfer and occurred at $8.31, only modestly above ADT’s historical trading range, suggesting limited price support. Post-sale ownership (112.65 M shares) keeps Apollo influential but demonstrates willingness to reduce exposure. Such large insider selling often precedes price pressure as markets digest the added float and may raise questions about Apollo’s outlook on ADT’s growth and capital allocation plans.

TL;DR: Large sale increases free float but Apollo still owns 112 M+ shares; impact mixed.

While the magnitude of the disposition is significant, increasing ADT’s public float can improve liquidity and attract larger institutional investors. Apollo’s residual 112 M-share stake aligns interests and limits takeover overhang fears. Without accompanying operational data, the trade alone doesn’t alter ADT’s fundamentals, but short-term supply-demand dynamics could weigh on the stock. Longer-term impact depends on whether Apollo continues to exit or stabilises its position.

Insider Apollo Management Holdings GP, LLC, Apollo Management GP, LLC, Apollo Management Holdings, L.P.
Role 10% Owner | 10% Owner | 10% Owner
Sold 71,000,000 shs ($590.01M)
Type Security Shares Price Value
Sale Common Stock 71,000,000 $8.31 $590.01M
Holdings After Transaction: Common Stock — 112,650,366 shares (Indirect, See footnote)
Footnotes (1)
  1. [object Object]
Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response: 0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
Apollo Management Holdings GP, LLC
(Last) (First) (Middle)
9 W. 57TH STREET, 41ST FLOOR
(Street)
NEW YORK NY 10019
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
ADT Inc. [ ADT ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director X 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
07/28/2025
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
Form filed by One Reporting Person
X Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 07/28/2025 S(1) 71,000,000 D $8.31 112,650,366 I See footnote(1)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
1. Name and Address of Reporting Person*
Apollo Management Holdings GP, LLC
(Last) (First) (Middle)
9 W. 57TH STREET, 41ST FLOOR
(Street)
NEW YORK NY 10019
(City) (State) (Zip)
Relationship of Reporting Person(s) to Issuer
Director X 10% Owner
Officer (give title below) Other (specify below)
1. Name and Address of Reporting Person*
Apollo Management GP, LLC
(Last) (First) (Middle)
9 W. 57TH STREET, 41ST FLOOR
(Street)
NEW YORK NY 10019
(City) (State) (Zip)
Relationship of Reporting Person(s) to Issuer
Director X 10% Owner
Officer (give title below) Other (specify below)
1. Name and Address of Reporting Person*
Apollo Management Holdings, L.P.
(Last) (First) (Middle)
9 W. 57TH STREET, 41ST FLOOR
(Street)
NEW YORK NY 10019
(City) (State) (Zip)
Relationship of Reporting Person(s) to Issuer
Director X 10% Owner
Officer (give title below) Other (specify below)
Explanation of Responses:
1. See Exhibit 99.1.
see signatures attached as Exhibit 99.2 07/30/2025
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Source: View Original Filing on SEC EDGAR

FAQ

How many ADT shares did Apollo sell?

Apollo sold 71,000,000 ADT common shares on 07/28/2025.

At what price were the ADT shares sold?

The shares were sold at $8.31 per share.

How many ADT shares does Apollo still own after the sale?

Apollo reports 112,650,366 shares remaining, held indirectly.

What does transaction code "S" mean on Form 4?

Code "S" denotes an open-market sale of the issuer’s securities.

Why is a large insider sale considered negative for ADT?

Significant selling by a major insider can signal reduced confidence and may increase share supply, pressuring the stock price.

Did the Form 4 report any derivative security transactions?

No, the filing shows no derivative securities acquired or disposed of.