James C. Zelter - Dec 27, 2021 Form 4 Insider Report for Apollo Global Management, Inc. (APO)

Role: Co-President, Director
Signature: /s/ Jessica L. Lomm, as Attorney-in-Fact
Stock symbol: APO
Transactions as of: Dec 27, 2021
Transactions value $: $0
Form type: 4
Date filed: 12/29/2021, 03:37 PM
Previous filing: Dec 21, 2021
Next filing: Jan 3, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	APO	Class A Common Stock	Options Exercise		+8.1K			8.1K	Dec 27, 2021	Zelter APO Series LLC	F1, F2
holding	APO	Class A Common Stock						6.38M	Dec 27, 2021	Direct	F3
holding	APO	Class A Common Stock						1.06M	Dec 27, 2021	The James C. Zelter 2021 GRAT No. 1	F4

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	APO	Apollo Operating Group units	Options Exercise		-8.1K	-0.4%		2.01M	Dec 27, 2021	Class A Common Stock	8.1K		See Footnote	F1, F5, F6, F7

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Each Apollo Operating Group ("AOG") unit represents a right to receive one share of Class A common stock of Apollo Global Management, Inc. (the "Issuer"), subject to the restrictions and provisions set forth in the reporting person's Roll-Up Agreement, dated July 13, 2007, by and among the reporting person, the Issuer, AP Professional Holdings, L.P. ("AP Professional Holdings"), and the other parties thereto (the "Roll-Up Agreement"), and the Seventh Amended and Restated Exchange Agreement, dated as of July 29, 2020, by and among the Issuer, AP Professional Holdings and the other parties thereto (the "Seventh A&R Exchange Agreement").
F2	By Zelter APO Series LLC, a vehicle over which the reporting person exercises voting and investment control. This exchange transaction does not involve the sale of any shares of Class A Common Stock.
F3	Reported amount includes 6,093,476 vested and unvested restricted stock units ("RSUs") granted under the Apollo Global Management, Inc. 2019 Omnibus Equity Incentive Plan (the "Plan"). Each RSU represents the contingent right to receive, in accordance with the issuance schedule set forth in the applicable RSU award agreement, one share of Class A common stock of the Issuer for each vested RSU. The RSUs vest in installments in accordance with the terms of the applicable RSU award agreement, provided the reporting person remains in service through the applicable vesting date.
F4	By The James C. Zelter 2021 GRAT No. 1, a vehicle over which the reporting person exercises voting and investment control.
F5	The AOG units were fully vested as of June 30, 2013 and do not expire.
F6	Pursuant to Instruction 4(c)(iii), this response has been left blank.
F7	By AP Professional Holdings. Zelter APO Series LLC and a trust for the benefit of the reporting person's family members for which the reporting person acts as a trustee (the "Trust") are limited partners in AP Professional Holdings, the direct holder of the AOG units. The AOG units indirectly held by Zelter APO Series LLC and the Trust are the number of AOG units that they have a right to receive as limited partners in AP Professional Holdings, subject to the restrictions and provisions set forth in the Roll-Up Agreement and the Seventh A&R Exchange Agreement, as further amended and restated. Zelter APO Series LLC became a limited partner in AP Professional Holdings following a transfer on December 24, 2021 of the reporting person's limited partnership interest in AP Professional Holdings.