Company: APO
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001858681-25-000049
Chunk: 338

Company: Apollo Global Management, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Item 1
Chunk 338
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 repurchase program and approved a new share repurchase program, pursuant to which, the Company is authorized to repurchase up to $3.0 billion of shares of its common stock to opportunistically reduce the Company’s share count or offset the dilutive impact of share issuances under the Company’s equity incentive plans. Shares of common stock may be repurchased from time to time in open market transactions, in privately negotiated transactions, pursuant to a trading plan adopted in accordance with Rule 10b5-1 of the Exchange Act, or otherwise, as well as through reductions of shares that otherwise would have been issued to participants under the Company’s Equity Plan in order to satisfy associated tax obligations. The repurchase program does not obligate the Company to make any repurchases at any specific time. The program is effective until the aggregate repurchase amount that has been approved by the AGM board of directors has been expended and may be suspended, extended, modified or discontinued at any time.The table below outlines the share activity for the three months ended March 31, 2025 and 2024:Three months ended March 31,20252024Shares of common stock issued in settlement of vested RSUs and options exercised17,480,021 5,963,140 Reduction of shares of common stock issued2(3,186,770)(2,292,336)Shares of common stock purchased related to share issuances and forfeitures3(2,841)(147,111)Issuance of shares of common stock for equity-based awards4,290,410 3,523,693 1 The gross value of shares issued was $1,234 million and $642 million for the three months ended March 31, 2025 and 2024, respectively, based on the closing price of the shares of common stock at the time of issuance.2 Cash paid for tax liabilities associated with net share settlement was $528 million and $314 million for the three months ended March 31, 2025 and 2024, respectively.3 Certain Apollo employees receive a portion of the profit sharing proceeds of certain funds in the form of (a) restricted shares of common stock that they are required to purchase with such proceeds or (b) RSUs, in each case which equity-based awards generally vest over three years. These equity-based awards are granted under the Company's Equity Plan. To prevent dilution on account of these awards, Apollo may, in its discretion, repurchase shares of common stock on the