Apollo Global Management Announces Executive and Board Changes

TL;DR

Apollo Global Management shakes up leadership: Mick McGuire joins board, Scott Klein is new CFO.

AI Summary

Apollo Global Management, Inc. announced on December 9, 2024, a series of executive and board changes. These include the appointment of Marcato Capital Management's founder, Mick McGuire, to the Board of Directors, and the appointment of Scott Klein as Chief Financial Officer, succeeding Kipida. The company also reported on its Series 6.75% Mandatory Convertible Preferred Stock and Series 7.625% Fixed-rate Resettable Junior Subordinated Notes due 2053.

Why It Matters

Changes in key leadership positions and board composition can signal shifts in company strategy and financial direction, impacting investor confidence and future performance.

Risk Assessment

Risk Level: medium — Executive and board changes, along with disclosures about financial instruments, introduce a degree of uncertainty regarding future strategy and financial stability.

Key Numbers

• 6.75% — Mandatory Convertible Preferred Stock Dividend Rate (Details a specific financial instrument of the company.)
• 7.625% — Junior Subordinated Notes Interest Rate (Details a specific financial instrument of the company.)

Key Players & Entities

• Apollo Global Management, Inc. (company) — Registrant
• Mick McGuire (person) — Appointed to Board of Directors
• Marcato Capital Management (company) — Affiliated with Mick McGuire
• Scott Klein (person) — Appointed Chief Financial Officer
• Kipida (person) — Succeeded as CFO
• Series 6.75% Mandatory Convertible Preferred Stock (dollar_amount) — Financial Instrument
• Series 7.625% Fixed-rate Resettable Junior Subordinated Notes due 2053 (dollar_amount) — Financial Instrument

FAQ

Key Financial Figures

• $10 million — res of AGM common stock with a value of $10 million to Martin Kelly, AGM's Chief Financial
• $3.3 million — three years, and is intended to provide $3.3 million per year over such period. The RSUs are

Filing Documents

• eh240566707_8k.htm (8-K) — 28KB
• 0000950142-24-002941.txt ( ) — 246KB
• apo-20241209.xsd (EX-101.SCH) — 4KB
• apo-20241209_def.xml (EX-101.DEF) — 26KB
• apo-20241209_lab.xml (EX-101.LAB) — 37KB
• apo-20241209_pre.xml (EX-101.PRE) — 25KB
• eh240566707_8k_htm.xml (XML) — 7KB

02. Departure of Directors or Certain Officers; Election of Directors;

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On December 9, 2024, the Compensation Committee of the Board of Directors of Apollo Global Management, Inc. ("AGM") approved a grant of restricted stock units ("RSUs") providing the right to receive shares of AGM common stock with a value of $10 million to Martin Kelly, AGM's Chief Financial Officer. The RSUs, which will be granted on December 20, 2024, are in recognition of Mr. Kelly's performance, and are intended to retain Mr. Kelly and more closely align his compensation level with our peer group. The RSU award will be considered when making annual compensation determinations for Mr. Kelly for the next three years, and is intended to provide $3.3 million per year over such period. The RSUs are Mr. Kelly voluntarily resigns before December 31, 2027, delivery of the shares underlying the vested RSUs will be delayed for two years until 2030. No shares underlying the RSUs will be delivered if Mr. Kelly breaches certain applicable restrictive covenants (including non-competition and non-solicitation provisions) or if he is terminated for cause. Dividend equivalents will be paid with respect to the RSUs.

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: December 13, 2024 APOLLO GLOBAL MANAGEMENT, INC. By: /s/ Jessica L. Lomm Name: Jessica L. Lomm Title: Vice President and Secretary

View Full Filing

View this 8-K filing on SEC EDGAR