Zelter James C 4

What Happened
James C. Zelter, President and a director of Apollo Global Management (APO), was granted 29,313 restricted stock units (RSUs) on Feb 10, 2026 (no cash price). The next day (Feb 11, 2026) 15,122 shares were withheld/disposed to satisfy tax withholding obligations at $132.43 per share, a withholding value of $2,002,606. The RSUs represent the contingent right to receive common shares upon vesting under Apollo’s 2019 Omnibus Equity Incentive Plan.

Key Details

• Transactions reported: Feb 10, 2026 (RSU grant of 29,313 RSUs); Feb 11, 2026 (15,122 shares withheld for taxes at $132.43/share, $2,002,606).
• Grant type: RSUs (award/grant — code A). Withholding: tax withholding by issuer (code F), not an open-market sale.
• Holdings reported: filing notes include large totals of vested and unvested RSUs (footnotes report ~4.9 million RSUs across related entries—see F2 and F4).
• Vehicles: certain holdings are held through trusts/vehicles over which Zelter exercises control (see F5–F7).
• Filing: Form 4 filed Feb 12, 2026 reporting activity for Feb 10–11, 2026 — filed within normal Section 16 reporting window (timely).

Context
RSU grants are compensation awards that convert to shares as they vest; the Feb 11 action was the company withholding shares to cover taxes (a routine administrative step), not an open-market sale indicating a directional trade. Retail investors should view this as routine equity compensation and tax-related withholding rather than an explicit buy or sell signal.