Company: APO
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001858681-25-000034
Chunk: 245

Company: Apollo Global Management, Inc.
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 245
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Restricted Stock AwardsDuring the years ended December 31, 2024, 2023 and 2022, the Company awarded 0.4 million, 0.6 million and 0.5 million restricted stock awards, respectively, from profit sharing arrangements with a grant date fair value of $52 million, $41 million and $36 million, respectively. During the years ended December 31, 2024, 2023 and 2022, the Company recorded equity-based compensation expense related to restricted stock awards from profit sharing arrangements of $46 million, $46 million and $56 million, respectively. As of December 31, 2024, there was $52 million of total unrecognized equity-based compensation expense related to unvested restricted stock awards, which is expected to be recognized over a weighted-average term of 2.1 years.The following table summarizes the restricted stock award activity:UnvestedWeighted Average Grant Date Fair ValueVestedTotal Shares of Restricted Stock OutstandingBalance at January 1, 20241,008,498$66.34 474,9221,483,420Granted401,111128.70—401,111Forfeited(1,085)75.08—(1,085)Vested(700,723)69.94700,723—Issued1—69.94(700,723)(700,723)Balance at December 31, 2024707,801$85.48 474,9221,182,7231 Refers to issued shares that became freely transferable in 2024.

16. Equity Common StockHolders of common stock are entitled to participate in dividends from the Company on a pro rata basis.During the years ended December 31, 2024, 2023 and 2022, the Company issued shares of common stock in settlement of vested RSUs. The Company has generally allowed holders of vested RSUs and exercised share options to settle their tax liabilities by reducing the number of shares of common stock issued to them, which the Company refers to as “net share settlement.” Additionally, the Company has generally allowed holders of share options to settle their exercise price by reducing the number of shares of common stock issued to them at the time of exercise by an amount sufficient to cover the exercise price. The net share settlement results in a liability for the Company and a corresponding adjustment to retained earnings (accumulated deficit).On January 3, 2022, the Company announced a share repurchase program,