Apollo Global Management, Inc. Form 8-K Summary
Business Context and Reporting Period
Apollo Global Management, Inc. filed a Form 8-K dated January 7, 2022, under Item 5.02 to disclose the appointment of a new officer. The filing does not report quarterly or annual operating results.
Key Financial and Compensation Information
- Louis-Jacques Tanguy was appointed Chief Accounting Officer and Controller of Apollo Global Management, Inc. and Apollo Asset Management, Inc.
- His employment was expected to begin on January 11, 2022.
- He will receive a one-time cash award of $560,000.
- He will receive restricted stock units with an aggregate value of $340,000, vesting in three equal annual installments.
- He may also receive additional RSUs for certain compensation forfeited upon leaving Deutsche Bank, in an amount not exceeding $600,000. These awards are expected to vest on schedules corresponding to the forfeited compensation.
- The RSUs will be granted under Apollo’s 2019 Omnibus Equity Incentive Plan, as amended and restated effective January 1, 2022.
Material Changes, Outlook, and Risks
The material change disclosed is the appointment of Mr. Tanguy as Chief Accounting Officer and Controller. The filing does not provide revenue, profit, cash flow, margin, debt, liquidity, operating guidance, or outlook information, and it does not identify material contingencies or unusual operating items.
Mr. Tanguy previously served as a Managing Director at Deutsche Bank, most recently as Head of Group Finance Americas and Global Head of Business Finance for Origination and Advisory. The filing states that he has no family relationship with Apollo directors or executive officers and is not party to related-party transactions reportable under Item 404(a) of Regulation S-K.
Important Facts for Investors to Verify
- Confirm Mr. Tanguy’s actual employment start date and effective appointment.
- Review the final terms, timing, valuation, and vesting conditions of the RSU awards.
- Monitor the potential maximum of $600,000 in replacement RSUs tied to forfeited Deutsche Bank compensation.
- Review subsequent filings for any changes in senior finance leadership or additional compensation disclosures.