Company: APO
Filing Date: 2025-04-25
Form Type: DEF 14A
Source: 0001193125-25-096971
Chunk: 61

Company: Apollo Global Management, Inc.
Filing Date: 2025-04-25
Form: DEF 14A
Chunk 61
---
 25% of Mr. Belardi’s target annual incentive bonus RSU award would be based on a combination of six AHL corporate financial and operational goals consistent with the goals applicable to other executive officers of AHL; (ii) 25% would be based equally on absolute and relative investment portfolio total return goals; and (iii) 50% would be based on the Compensation Committee’s review of overall AHL performance. Mr. Belardi was eligible for a total annual incentive award payout ranging from 0% to 148% with respect to the portions of the target award opportunity that were subject to corporate objectives and absolute and relative investment portfolio total return performance goals, as described below. The six AHL corporate performance measurements, their respective weightings and 2024 performance and achievement with respect to these measurements, as of the date of the Compensation Committee’s December 2024 meeting, are set forth below. The targets for the corporate financial and operational measures were determined in relation to AHL’s internal business plan for the year.

| Objectives                 |     | Weight |    |   |     | Measurement                         |     | Target(7) |     | 2024 Performance (Estimate) |
| Overall profitability      |     |        | 20 | % |     | Adjusted spread related earnings(1) |     | $3.726B   |     | $3.558B                     |
| Expense management         |     |        |  5 | % |     | Operating expenses(2)               |     | —         |     | Exceeded                    |
| Inflows                    |     |        | 10 | % |     | Inflows(3)                          |     | $70.0B    |     | $71.9B                      |
| New business profitability |     |        | 20 | % |     | Underwritten returns(4)             |     | —         |     | Exceeded                    |
| Capital                    |     |        | 15 | % |     | Excess equity capital generation(5) |     | —         |     | Exceeded                    |
| Talent and Strategy        |     |        | 30 | % |     | Strategic focus areas(6)            |     | —         |     | Below Target                |

| (1) | Spread related earnings (“SRE”) is a pre-tax non-GAAP measure used to evaluate AHL’s financial performance excluding market volatility (other than with respect to alternative investments) as well as certain other expenses that are not