Company: APO
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001858681-25-000117
Chunk: 300

Company: Apollo Global Management, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 8
Chunk 300
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 are met or deemed probable. Equity-based awards that do not require future service (i.e., vested awards) are expensed immediately. 

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

For the three months ended June 30, 2025 and 2024, the Company recorded equity-based compensation expense of $166 million and $153 million, respectively. For the six months ended June 30, 2025 and 2024, the Company recorded equity-based compensation expense of $315 million and $342 million, respectively. As of June 30, 2025, there was $840 million of estimated unrecognized compensation expense related to unvested RSU awards. This cost is expected to be recognized over a weighted-average period of 2.1 years. Service-Based AwardsDuring the six months ended June 30, 2025 and 2024, the Company awarded 3.4 million and 3.4 million of service-based RSUs, with a grant date fair value of $527 million and $366 million, respectively. During the three months ended June 30, 2025 and 2024, the Company recorded equity-based compensation expense on service-based RSUs of $126 million and $109 million, respectively. During the six months ended June 30, 2025 and 2024, the Company recorded equity-based compensation expense on service-based RSUs of $243 million and $201 million, respectively. Performance-Based AwardsDuring the six months ended June 30, 2025, there were no performance-based RSUs awarded. During the six months ended June 30, 2024, the Company awarded 0.9 million of performance-based RSUs, with a grant date fair value of $87 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 June 30, 2025 and 2024, the Company recorded equity-based compensation expense on performance-based awards of $21 million and $33 million, respectively. During the six months ended June 30, 2025 and 2024, the Company recorded equity-based compensation expense on performance-based awards of $37 million and $107 million, respectively.In December 2021, the Company awarded one-time grants to the Co-Presidents of AAM of 6.0 million