Apollo (APO) director exercises stock options, has shares withheld

Rhea-AI Filing Summary

Apollo Global Management director and officer James Richard Belardi reported a combination of option exercise and tax-related share withholding. On February 13, 2026, he exercised a fully vested employee stock option for 147,813 shares of common stock at an exercise price of $29.55 per share, increasing his direct common stock holdings to 224,126 shares, which include 71,157 restricted stock units noted in the filing.

On February 17, 2026, 29,254 common shares held indirectly through the James and Leslie Belardi Family Trust were disposed of at $132.43 per share, consisting of shares withheld by Apollo Global Management to satisfy his tax withholding obligations. Following this, the trust held 99,393 shares. The filing also updates indirect ownership positions across several family trusts, LLCs, and related accounts, reflecting significant ongoing equity exposure to Apollo.

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^*

Belardi James Richard

(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)
	See Remarks

3. Date of Earliest Transaction (Month/Day/Year)
02/13/2026

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	02/13/2026		M		147,813	A	$29.55	224,126	D
Common Stock	02/17/2026		F		29,254(1)	D	$132.43	99,393(2)	I	By James and Leslie Belardi Family Trust
Common Stock								236,052	I	By Belardi 2019 GST Non-Exempt Descendants Trust
Common Stock								1,870,597	I	JB Athene Investments, LLC
Common Stock								1,167,261	I	JB Athene Investments II, LLC
Common Stock								637,500	I	JB Athene Investments III, LLC
Common Stock								1,478,185	I	JB Athene Investments IV, LLC
Common Stock								1,000	I	By son
Common Stock								1,000	I	By daughter
Common Stock								304.8255	I	By mother
Common Stock								138,617	I	By Belardi 2024 GRAT
Common Stock								76,385	I	By Belardi 2025 GRAT

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
Employee Stock Option (Right to Buy)	$29.55	02/13/2026		M			147,813	(3)	06/06/2026	Common Stock	147,813	$0	0	D(4)

Explanation of Responses:

1. Consists of shares withheld by the Issuer to satisfy the tax withholding obligations of the reporting person arising in connection with the delivery of shares pursuant to an equity plan administered by Apollo Global Management, Inc.

2. Reported amount includes 71,157 restricted stock units ("RSUs"). RSUs represent the contingent right to receive shares of Apollo Global Management, Inc. pursuant to an equity plan administered by Apollo Global Management, Inc.

3. This option is fully vested.

4. This option was previously held by the James and Leslie Belardi Family Trust and was transferred to the reporting person's direct ownership via transfers exempt from Section 16 pursuant to Rule 16a-13 under the Securities Exchange Act of 1934, as amended.

Remarks:

Executive Chairman of Athene Holding Ltd. The reporting person disclaims beneficial ownership of securities held indirectly except to the extent of his pecuniary interest, and this report shall not be deemed an admission that the reporting person is the beneficial owner of such securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.

	/s/ Jessica L. Lomm, as Attorney-in-Fact	02/18/2026
	** 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.

FAQ

What insider transactions did James Richard Belardi report at Apollo (APO)?

James Richard Belardi reported exercising an employee stock option for 147,813 Apollo common shares on February 13, 2026, and a tax-withholding disposition of 29,254 indirectly held shares on February 17, 2026. These actions updated both his direct and trust-held ownership stakes.

How many Apollo (APO) shares did Belardi acquire through option exercise?

He acquired 147,813 Apollo common shares on February 13, 2026 by exercising a fully vested employee stock option at an exercise price of $29.55 per share. This transaction converted derivative securities into directly owned common stock reported in his holdings.

Why were 29,254 Apollo (APO) shares disposed of from the family trust?

The 29,254 Apollo shares were withheld by the company on February 17, 2026 to cover Belardi’s tax withholding obligations tied to equity awards. These shares were held by the James and Leslie Belardi Family Trust and were valued at $132.43 per share for this tax-related disposition.

What are Belardi’s direct Apollo (APO) common stock holdings after these transactions?

After the February 13, 2026 option exercise, Belardi directly held 224,126 Apollo common shares. This figure, as disclosed, includes 71,157 restricted stock units that represent a contingent right to receive additional shares under Apollo’s equity compensation plan.

How does Belardi hold Apollo (APO) shares indirectly through family entities?

The filing lists indirect Apollo holdings through multiple vehicles, including the James and Leslie Belardi Family Trust with 99,393 shares after tax withholding, and several JB Athene Investments LLC entities, as well as family trusts and accounts for relatives, reflecting substantial indirect ownership interests.