Apollo Global Management Inc. is giving co-Presidents Jim Zelter and Scott Kleinman a shot at more than $860 million in stock payouts as the firm -- trying to move beyond leadership turmoil and expand from private equity roots into more services -- retools rewards.
The pair of Apollo veterans will forfeit unvested carried interest and each receive 1 million new shares annually over five years, with an additional 1 million shares tied to incentive targets, according to a regulatory filing on Thursday. The total value of their stock awards would exceed $430 million each if their targets are met, based on Apollo’s current share price.
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December 03, 2021 at 05:40AM
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Apollo Pay Revamp Gives Presidents Shot at $860 Million in Stock - Bloomberg
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