Company: APO
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001858681-25-000049
Chunk: 336

Company: Apollo Global Management, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Item 1
Chunk 336
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 three months ended March 31, 2025, there were no performance-based RSUs awarded. During the three months ended March 31, 2024, the Company awarded 0.8 million of performance-based RSUs with a grant date fair value of $85 

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Table of ContentsAPOLLO GLOBAL MANAGEMENT, INC.NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

million, which primarily vest subject to continued employment and the Company’s receipt of performance revenues, within prescribed periods, sufficient to cover the associated equity-based compensation expense.During the three months ended March 31, 2025 and 2024, the Company recorded equity-based compensation expense on performance-based awards of $16 million and $74 million, respectively.In December 2021, the Company awarded one-time grants to the Co-Presidents of AAM of 6.0 million RSUs which vest on a cliff basis subject to continued employment over five years, with 2.0 million of those RSUs also subject to the Company’s achievement of certain fee related earnings and spread related earnings per share metrics. During the three months ended March 31, 2025 and 2024, the Company recorded equity-based compensation expense related to these one-time grants of $14 million and $14 million, respectively, for service-based awards and $6 million and $6 million, respectively, for performance-based awards.The following table summarizes all RSU activity for the current period:UnvestedWeighted Average Grant Date Fair ValueVestedTotal Number of RSUs OutstandingBalance at January 1, 202514,635,028$70.03 21,337,13235,972,160Granted2,970,846160.29 65,7073,036,553Forfeited(42,656)81.83 —(42,656)Vested(2,223,141)87.97 2,223,141—Issued—— (7,480,021)(7,480,021)Balance at March 31, 202515,340,077$78.45 16,145,959 31,486,036Restricted Stock AwardsDuring the three months ended March 31, 2025 and 2024, the Company awarded 0.1 million and 0.1 million restricted stock awards, respectively, from profit sharing arrangements with a grant date fair value of $6 million and $9 million, respectively