Company: APO
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001858681-25-000034
Chunk: 243

Company: Apollo Global Management, Inc.
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 243
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 expense for performance grants are typically recognized on an accelerated recognition method over the requisite service period to the extent the performance revenue metrics are met or deemed probable. Equity-based awards that do not require future service (i.e., vested awards) are expensed immediately. For the years ended December 31, 2024, 2023 and 2022, the Company recorded equity-based compensation expense of $721 million, $1.0 billion and $540 million, respectively. As of December 31, 2024, there was $588 million of estimated unrecognized compensation expense related to unvested RSU awards. This cost is expected to be recognized over a weighted-average period of 2.0 years. 

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Table of ContentsAPOLLO GLOBAL MANAGEMENT, INC.NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

The following table summarizes the weighted average discounts for plan grants, bonus grants and performance grants:Years ended December 31,202420232022Plan grants:Discount for the lack of distributions until vested1— %— %0.2 %Marketability discount for transfer restrictions24.4 %15.4 %10.0 %Bonus grants:Marketability discount for transfer restrictions22.5 %4.0 %3.5 %Performance grants:Discount for the lack of distributions until vested1— %0.2 %1.3 %Marketability discount for transfer restrictions211.0 %9.7 %7.6 %1 Based on the present value of a growing annuity calculation.2 Based on the Finnerty Model calculation.Service-Based AwardsDuring the years ended December 31, 2024, 2023 and 2022, the Company awarded 3.7 million, 5.0 million and 5.1 million of service-based RSUs, respectively, with a grant date fair value of $405 million, $339 million and $310 million, respectively. During the years ended December 31, 2024, 2023 and 2022, the Company recorded equity-based compensation expense on service-based RSUs of $398 million, $313 million and $245 million, respectively. Performance-Based AwardsDuring the years ended December 31, 2024, 2023 and 2022, the Company awarded 1.5 million, 1.5 million and 3.9 million of performance-based RSUs, respectively, with a grant date fair value of $181 million,