Apollo Global Management management check
APO · Financials · Asset Management & Custody Banks · CEO Marc Rowan
Filings as of
4 good · 3 to watch · 0 flagged, across the seven questions below.
- Good
Have owners done well?
Beat its chosen peers$100 invested at the start of fiscal 2021 grew to $331, against $196 for the peer group the company picked itself.
- Good
Does pay follow performance?
Pay rose and fell with returnsOver 5 years, the CEO's pay actually paid (equity valued at the share price) had a correlation of 0.92 with shareholder return. 1 means pay moved in step; below 0, the opposite way.
- Good
What does the CEO cost owners?
0.03% of net income$913k of reported pay in fiscal 2025, against $3.4bn of net income.
- Watch
Do they own the stock?
Insiders are selling2 insiders sold $7.7m in the last six months and none bought.
- Watch
Are owners being diluted?
Share count growingDiluted shares changed +0.4% a year over the last three fiscal years. Stock-based pay was 2.5% of revenue in the latest year.
- Watch
Is leadership stable?
2 CEOs in the pay tableCEOs in the pay table: Marc Rowan, Leon Black. 10 filings under 8-K item 5.02 (officers or directors leaving or joining, or new pay arrangements) in the last 3 years.
- Good
Are the books clean?
No red flags on fileNo restatements, auditor changes or late filings since 2021.
Against the S&P 500
Each check's score (0–100) and how it compares: the share of ranked S&P 500 companies it matches or beats, and the median in Financials.
| Check | Score | At or above | Sector median |
|---|---|---|---|
| Owner returns | 100 | 49 | |
| Pay for performance | 96 | 83 | |
| CEO cost | 100 | 67 | |
| Skin in the game | — | — | 51 |
| Dilution | 45 | 69 | |
| Stable leadership | 35 | 80 | |
| Clean books | 100 | 100 |
Closest peers
Others in Asset Management & Custody Banks, by management score. Apollo Global Management is 16th of 72 in its sector.
- 48STTState Street Corporation80
- 65APOApollo Global Management79
- 66NTRSNorthern Trust79
- 165BNYBNY Mellon71
- 171AMPAmeriprise Financial71
- 243BLKBlackRock65
- 268ARESAres Management63
- 329TROWT. Rowe Price59
- 390IVZInvesco55
- 420BENFranklin Resources50
Pay versus performance
From the proxy statement filed April 24, 2026. "Actually paid" values stock awards at the share price, so it rises and falls with the stock.
| Fiscal year | CEO | CEO pay | Actually paid | Other executives (avg) | $100 became | Peers | Net income |
|---|---|---|---|---|---|---|---|
| 2025 | Marc Rowan | $913k | $913k | $37.4m | $331 | $196 | $3.4bn |
| 2024 | Marc Rowan | $763k | $763k | $23.5m | $372 | $187 | $4.5bn |
| 2023 | Marc Rowan | $321k | $321k | $19.9m | $207 | $135 | $5.0bn |
| 2022 | Marc Rowan | $310k | $310k | $17.2m | $139 | $110 | −$2.0bn |
| 2021 | Marc Rowan, Leon Black | $357k | $357k | $223.1m | $153 | $141 | $1.8bn |
The board says pay is tied most to Fee Related Earnings. Its other key measures: Adjusted Net Income, Realized Performance Fees, Spread Related Earnings.
Insiders and the CEO's stake
Marc J Rowan (Chief Executive Officer and) held 1,552,160 shares directly after their latest Form 4 on May 8, 2026.
2 insiders sold $7.7m in the last six months and none bought.
- SoldJohn P. ZitoCo-President (see Remarks)$6.4mMay 27, 2026
- SoldMartin KellyChief Financial Officer$1.4mAug 14, 2026
Leadership and governance on file
- Oct 20, 2026Leadership change8-K 5.02
- Dec 12, 2025Leadership change8-K 5.02
- Sep 30, 2025Leadership change8-K 5.02
- Jul 2, 2025Leadership change8-K 5.02
- Apr 17, 2025Leadership change8-K 5.02
- Feb 26, 2025Leadership change8-K 5.02
- Jan 31, 2025Leadership change8-K 5.02
- Jan 15, 2025Leadership change8-K 5.02
- Dec 13, 2024Leadership change8-K 5.02
- Dec 8, 2023Leadership change8-K 5.02
- Aug 14, 2023Leadership change8-K 5.02
- Feb 22, 2023Leadership change8-K 5.02
Latest shareholder vote results: Aug 12, 2026, including the say-on-pay vote.
Where the money went
Over 2021–2025: $7.9bn returned to owners in buybacks and dividends, 62% of net income, and $4.3bn of pay in stock.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $6.0bn | $11.0bn | $32.6bn | $26.1bn | $32.0bn |
| Net income | $1.8bn | −$2.0bn | $5.0bn | $4.5bn | $3.4bn |
| Stock-based pay | $1.2bn | $540.0m | $1.0bn | $721.0m | $789.0m |
| Buybacks | $299.0m | $635.0m | $561.0m | $890.0m | $773.0m |
| Dividends | $517.0m | $962.0m | $1.0bn | $1.1bn | $1.2bn |
| Diluted shares | 237m | 585m | 589m | 604m | 594m |
Educational only, not investment advice. Figures are as filed with the SEC: pay from the proxy's pay-versus-performance table, capital allocation from 10-K XBRL data, insider trades from Form 4s over the last six months, events from the last 5 years of filings. The peer group is the one the company chose. See the method.