Company: APO
Filing Date: 2025-04-25
Form Type: DEF 14A
Source: 0001193125-25-096971
Chunk: 60

Company: Apollo Global Management, Inc.
Filing Date: 2025-04-25
Form: DEF 14A
Chunk 60
---
 or reduce the distributions. For additional discussion, please see “—Employment and Partnership Interest Agreements with AHL Chairman and Chief Executive Officer, James R. Belardi,” below.

RSUs: Long-Term Incentive.We award RSUs to our named executive officers (excluding Messrs. Rowan and Kleinman) to enhance their alignment with our stockholders. In early 2024, we granted annual awards of RSUs subject to service-based vesting, which had been approved by the Compensation Committee, to Messrs. Belardi and Kelly. The terms, conditions and grant date target value of each of these RSU awards were unchanged from the NEO’s prior year award.

We periodically grant other RSU awards to align with market pay and reward exceptional performance. In December 2024, the Compensation Committee approved a $10 million RSU grant to Mr. Kelly to recognize his performance (including his contributions to our 2024 Investor Day), support his retention, recognize his tenure and commitment to Apollo and more closely align his pay with our peer group. The award will be considered when making annual compensation determinations for Mr. Kelly for the next three years, and is intended to provide $3.3 million per year over such period. These RSUs are subject to the achievement of performance fee hurdles within prescribed periods, as described above, and the delivery of the underlying shares will not occur before 2028. If Mr. Kelly voluntarily resigns prior to December 31, 2027, delivery of the shares underlying the vested RSUs will not occur until 2030.

RSUs: Annual Incentive Bonus. In addition to receiving RSUs as a long-term incentive, Mr. Belardi receives his annual incentive bonus award in the form of RSUs that vest in two equal annual installments. Mr. Belardi’s annual incentive award was established with a target value of $1,850,000. In 2024, the Compensation Committee approved the financial, operational and other performance objectives that would determine his annual incentive bonus RSUs to be granted in consideration for his services performed in that year, as further described below.

<div align='center'>45</div>

In December 2024, following a review of performance in 2024, the Compensation Committee approved a payout of Mr. Belardi’s annual incentive bonus RSU award representing an award level equal to 57% of target, based on three components. For 2024, and consistent with prior years, the Compensation Committee established that: (i)