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[Form 4] Apollo Global Management, Inc. Insider Trading Activity

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

Rhea-AI Filing Summary

Apollo Global Management (APO): President and director James C. Zelter filed a Form 4 reporting a Code F disposition of 2,636 shares on 11/06/2025 at $133.75 per share. Code F indicates shares were sold or withheld to satisfy tax obligations related to equity awards under the company’s 2019 Omnibus Equity Incentive Plan.

After the transaction, Zelter beneficially owned 5,003,267 shares directly, which includes 4,874,490 RSUs granted under the plan, vesting per their award schedules. Indirect holdings reported include 372,473 shares (The James C. Zelter 2024 GRAT No. 1), 453,308 shares (The James C. Zelter 2025 GRAT No. 1), and 999,940 shares (Zelter APO Series LLC). Footnotes detail GRAT terminations and transfers in August–September 2025.

Positive

  • None.

Negative

  • None.
Insider Zelter James C
Role President
Type Security Shares Price Value
Tax Withholding Common Stock 2,636 $133.75 $353K
holding Common Stock -- -- --
holding Common Stock -- -- --
holding Common Stock -- -- --
Holdings After Transaction: Common Stock — 5,003,267 shares (Direct); Common Stock — 372,473 shares (Indirect, The James C. Zelter 2024 GRAT No. 1)
Footnotes (1)
  1. Consists of shares (a) sold to provide funds to satisfy tax obligations of the reporting person or (b) withheld by the Issuer to satisfy the tax withholding obligations of the reporting person, in each case arising in connection with the delivery of shares that were granted under the Apollo Global Management, Inc. 2019 Omnibus Equity Incentive Plan (the "Plan"). Reported amount includes 4,874,490 vested and unvested restricted stock units ("RSUs") granted under the Plan. Each RSU represents the contingent right to receive, in accordance with the issuance schedule set forth in the applicable RSU award agreement, one share of common stock of the Issuer for each vested RSU. The RSUs vest in installments in accordance with the terms of the applicable RSU award agreement, provided the reporting person remains in service through the applicable vesting date. On August 28, 2025, the James C. Zelter 2023 GRAT No. 1, a vehicle over which the reporting person exercised voting and investment control (the "2023 GRAT"), terminated. Upon termination of the 2023 GRAT, the remaining 161,232 shares held by such 2023 GRAT were distributed directly to the reporting person as sole annuitant, such distribution being exempt from Section 16 of the Securities Exchange Act of 1934 pursuant to Rule 16a-13 thereunder. Such shares were subsequently transferred to the James C. Zelter 2025 GRAT No. 1, a vehicle over which the reporting person exercises voting and investment control (the "2025 GRAT"). Additionally, on September 9, 2025, the James C. Zelter 2024 GRAT No. 1, a vehicle over which the reporting person exercises voting and investment control (the "2024 GRAT"), transferred 248,692 shares to the reporting person directly, which were subsequently transferred on September 10, 2025 to the 2025 GRAT. As reported in footnote 3 above, on September 9, 2025, the 2024 GRAT transferred 248,692 shares to the reporting person directly, which shares were subsequently transferred on September 10, 2025 to the 2025 GRAT. As reported in footnotes 3 and 4 above, these 453,308 shares were transferred from the reporting person to the 2025 GRAT on September 10, 2025. By Zelter APO Series LLC, a vehicle over which the reporting person exercises voting and investment control.
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*
Zelter James C
(Last) (First) (Middle)
C/O APOLLO GLOBAL MANAGEMENT, INC.
9 WEST 57TH STREET, 42ND FLOOR
(Street)
NEW YORK NY 10019
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
Apollo Global Management, Inc. [ APO ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
X Officer (give title below) Other (specify below)
President
3. Date of Earliest Transaction (Month/Day/Year)
11/06/2025
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
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 11/06/2025 F 2,636(1) D $133.75 5,003,267(2)(3) D
Common Stock 372,473(4) I The James C. Zelter 2024 GRAT No. 1
Common Stock 453,308(5) I The James C. Zelter 2025 GRAT No. 1
Common Stock 999,940 I Zelter APO Series LLC(6)
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
Explanation of Responses:
1. Consists of shares (a) sold to provide funds to satisfy tax obligations of the reporting person or (b) withheld by the Issuer to satisfy the tax withholding obligations of the reporting person, in each case arising in connection with the delivery of shares that were granted under the Apollo Global Management, Inc. 2019 Omnibus Equity Incentive Plan (the "Plan").
2. Reported amount includes 4,874,490 vested and unvested restricted stock units ("RSUs") granted under the Plan. Each RSU represents the contingent right to receive, in accordance with the issuance schedule set forth in the applicable RSU award agreement, one share of common stock of the Issuer for each vested RSU. The RSUs vest in installments in accordance with the terms of the applicable RSU award agreement, provided the reporting person remains in service through the applicable vesting date.
3. On August 28, 2025, the James C. Zelter 2023 GRAT No. 1, a vehicle over which the reporting person exercised voting and investment control (the "2023 GRAT"), terminated. Upon termination of the 2023 GRAT, the remaining 161,232 shares held by such 2023 GRAT were distributed directly to the reporting person as sole annuitant, such distribution being exempt from Section 16 of the Securities Exchange Act of 1934 pursuant to Rule 16a-13 thereunder. Such shares were subsequently transferred to the James C. Zelter 2025 GRAT No. 1, a vehicle over which the reporting person exercises voting and investment control (the "2025 GRAT"). Additionally, on September 9, 2025, the James C. Zelter 2024 GRAT No. 1, a vehicle over which the reporting person exercises voting and investment control (the "2024 GRAT"), transferred 248,692 shares to the reporting person directly, which were subsequently transferred on September 10, 2025 to the 2025 GRAT.
4. As reported in footnote 3 above, on September 9, 2025, the 2024 GRAT transferred 248,692 shares to the reporting person directly, which shares were subsequently transferred on September 10, 2025 to the 2025 GRAT.
5. As reported in footnotes 3 and 4 above, these 453,308 shares were transferred from the reporting person to the 2025 GRAT on September 10, 2025.
6. By Zelter APO Series LLC, a vehicle over which the reporting person exercises voting and investment control.
Remarks:
/s/ Jessica L. Lomm, as Attorney-in-Fact 11/10/2025
** 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

What did APO insider James C. Zelter report on Form 4?

A Code F disposition of 2,636 shares on 11/06/2025 at $133.75, to satisfy tax obligations tied to equity awards.

How many APO shares does Zelter beneficially own after the transaction?

Direct beneficial ownership is 5,003,267 shares, including 4,874,490 RSUs granted under the 2019 plan.

What indirect APO holdings were reported by Zelter?

Indirect holdings include 372,473 (2024 GRAT No. 1), 453,308 (2025 GRAT No. 1), and 999,940 (Zelter APO Series LLC) shares.

What does Form 4 transaction code F mean for APO?

Code F reflects shares sold or withheld to cover taxes upon delivery of equity, not an open‑market trade.

What roles does Zelter hold at Apollo (APO)?

He is reported as a Director and an Officer (President).

What plan governs the reported RSUs?

Awards were granted under the Apollo Global Management, Inc. 2019 Omnibus Equity Incentive Plan and vest per award schedules.