APO Form 4: CFO Kelly Martin Sells Shares, Discloses 243,455 RSUs
Rhea-AI Filing Summary
Apollo Global Management CFO Kelly Martin reported sales and a gift of company stock while retaining significant holdings. On 08/12/2025 the reporting person sold a total of 15,500 shares in multiple transactions at weighted-average prices in the range of $144.32–$145.665. The filing also shows a gift of 795 shares to the 2025 Martin Kelly Gift Trust. After these transactions the reporting person beneficially owns 331,604 shares directly and 25,035 shares indirectly (held by the trust). The reported beneficial ownership includes 243,455 vested and unvested RSUs that convert to common stock per the award agreements.
Positive
- Full disclosure of sales and gift under Section 16 with explanatory footnotes
- Substantial retained ownership: 331,604 shares directly and 25,035 indirectly after transactions
- Large RSU position disclosed (243,455 vested and unvested RSUs) which maintains future alignment with shareholders
Negative
- Insider sales of 15,500 shares on 08/12/2025 at weighted-average prices between $144.32 and $145.665
- Gift of 795 shares to the 2025 Martin Kelly Gift Trust, reducing direct holdings
Insights
TL;DR: Insider sold a modest position; sizable retained holdings and RSUs limit near-term dilution concerns.
The filing shows the CFO executed market sales totaling 15,500 shares at weighted-average prices between $144.32 and $145.665, and made a gift of 795 shares to a family trust. These sales reduce direct holdings but the reporting person continues to hold a substantial position: 331,604 shares directly plus 25,035 indirectly, which includes 243,455 RSUs that will vest per award schedules. For investors, this is a routine Section 16 disclosure of insider liquidity rather than a clear signal of company fundamentals; the magnitude of shares sold appears small relative to total retained economic exposure due to the large RSU balance.
TL;DR: Disclosure appears complete and follows Section 16 reporting; sales and a family-trust gift were properly reported.
The Form 4 identifies the reporting person as the Chief Financial Officer and documents multiple sales plus a gift to a trust under the reporting person’s control. Footnotes explain weighted-average pricing across multiple transactions and clarify that the reported beneficial ownership number includes a large RSU position. The form is signed by an attorney-in-fact and includes explanatory footnotes, indicating adherence to disclosure protocols. No amendments or additional contingent arrangements are disclosed in this filing.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 10,935 | $144.9513 | $1.59M |
| Sale | Common Stock | 4,565 | $145.4957 | $664K |
| Gift | Common Stock | 795 | $0.00 | -- |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $144.32 to $145.315 inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnotes (1) and (3). Reported amount includes 243,455 vested and unvested restricted stock units ("RSUs") granted under the Apollo Global Management, Inc. 2019 Omnibus Equity Incentive 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. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $145.32 to $145.665 inclusive. Held by the 2025 Martin Kelly Gift Trust, a trust over which the reporting person exercises sole voting and investment control, and for which members of the reporting person's immediate family are the beneficiaries.
