8-KLeadership Changes

Apollo Global Management, Inc. 8-K Report, Executive Changes (Dec 8, 2023)

Filed December 8, 2023For Securities:APOAPOSAPO-PA

Summary

Apollo Global Management, Inc. (APO) filed an 8-K on December 8, 2023, detailing executive transition and compensation adjustments. Effective December 31, 2023, John Suydam will transition from Chief Legal Officer to a Senior Advisor and Partner role. In connection with this change, the Compensation Committee approved an amendment to his employment agreement. His base salary will be adjusted to $1 million annually, and his entitlement to guaranteed annual bonuses will be removed, though he remains eligible for other compensation, including performance fee programs. Furthermore, effective January 1, 2024, Whitney Chatterjee, currently General Counsel, will assume the position of Chief Legal Officer, as previously announced. These changes reflect internal adjustments within the company's senior leadership and compensation structures, aiming to align executive roles and rewards with evolving responsibilities and company strategy.

Key Highlights

  • 1John Suydam to transition from Chief Legal Officer to Senior Advisor and Partner role, effective December 31, 2023.
  • 2Suydam's base salary adjusted to $1 million per annum in his new role.
  • 3Suydam will no longer receive guaranteed annual bonuses (restricted stock unit awards or otherwise).
  • 4Suydam remains eligible for other compensation programs, including participation in performance fee programs.
  • 5Whitney Chatterjee appointed as Chief Legal Officer, effective January 1, 2024.
  • 6This filing confirms previously disclosed information regarding executive transitions.

Frequently Asked Questions

John Suydam is transitioning from his operational role as Chief Legal Officer to a Senior Advisor and Partner position, effective December 31, 2023. This indicates a shift in his responsibilities from day-to-day legal operations to a more strategic advisory capacity, potentially leveraging his experience in a different capacity.

His base salary is set at $1 million annually, and he will no longer receive guaranteed annual bonuses. However, he will continue to be eligible for other compensation, such as participation in performance fee programs, reflecting his ongoing value to the firm in his new advisory role.

Whitney Chatterjee, currently the Company's General Counsel, will assume the role of Chief Legal Officer, effective January 1, 2024. This appointment was previously disclosed and represents an internal promotion to a key leadership position.

This 8-K primarily addresses executive transitions and compensation adjustments. It does not introduce any new financial commitments or fundamentally alter the company's financial outlook. The changes are focused on personnel and compensation structures within existing frameworks.