James C. Zelter (APO) reports 5.05M holdings; 2,656 shares sold/withheld
Rhea-AI Filing Summary
James C. Zelter, President and a director of Apollo Global Management, reported a tax-related disposition and continuing substantial beneficial ownership of Apollo (APO) common stock. On 08/07/2025 a total of 2,656 shares were either sold or withheld to satisfy tax withholding obligations at a reported price of $145.87.
Following that transaction the reporting person beneficially owned 5,049,287 shares. The reported holdings explicitly include 4,876,126 vested and unvested restricted stock units granted under the Apollo 2019 Omnibus Equity Incentive Plan, and indirect interests of 999,940 shares via Zelter APO Series LLC, 161,232 via The James C. Zelter 2023 GRAT No. 1, and 621,165 via The James C. Zelter 2024 GRAT No.1.
Positive
- Beneficial ownership of 5,049,287 shares reported following the transaction
- 4,876,126 RSUs (vested and unvested) are included in the reported holdings under the 2019 Omnibus Equity Incentive Plan
- Indirect holdings disclosed: 999,940 shares via Zelter APO Series LLC, 161,232 via The James C. Zelter 2023 GRAT No. 1, and 621,165 via The James C. Zelter 2024 GRAT No.1
Negative
- None.
Insights
TL;DR: Routine tax-related disposition; reporting person retains large stake (5.05M shares including 4.88M RSUs), neutral short-term market impact.
The Form 4 shows a small disposition of 2,656 shares executed or withheld at $145.87 for tax obligations, while total beneficial ownership remains 5,049,287 shares. The disclosure clarifies that 4,876,126 of those are vested and unvested RSUs under the 2019 Plan, which convert to shares per the award schedule. Given the size of the remaining position relative to the disposal, the transaction is administrative in nature and unlikely to materially affect APO's equity valuation.
TL;DR: Insider retains significant direct and indirect holdings through LLC and GRAT vehicles; the reported disposition addressed tax obligations.
The filing identifies the reporting person as President and a director and shows indirect holdings via Zelter APO Series LLC and two named GRATs, with the filer exercising voting and investment control over these vehicles as stated. The disclosed sale/withholding of 2,656 shares was used to meet tax withholding or tax obligations tied to RSU deliveries. From a governance perspective, concentrated insider ownership and control over these entities is explicitly documented, with no other governance changes reported.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Common Stock | 2,656 | $145.87 | $387K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Footnotes (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 4,876,126 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. By Zelter APO Series LLC, a vehicle over which the reporting person exercises voting and investment control. By The James C. Zelter 2023 GRAT No. 1, a vehicle over which the reporting person exercises voting and investment control. By The James C. Zelter 2024 GRAT No.1, a vehicle over which the reporting person exercises voting and investment control.
