8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 30, 2022

Apollo Asset Management, Inc.

(Exact name of registrant as specified in its charter)

Delaware	001-35107	20-8880053
(State of Incorporation)	(Commission File Number)	(IRS Employer Identification Number)

9 West 57th Street, 42nd Floor

New York, New York 10019

(Address of principal executive offices) (Zip Code)

(212) 515-3200

(Registrant’s telephone number, including area code)

N/A

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
6.375% Series A Preferred Stock	AAM.PR A	New York Stock Exchange
6.375% Series B Preferred Stock	AAM.PR B	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Appointment of Officer

On August 30, 2022, Apollo Asset Management, Inc. (the “Company”) announced that Byron Vielehr has been appointed Chief Operating Officer of the Company, effective September 30, 2022.

Since 2013, Byron Vielehr, 58, has been an officer at Fiserv, Inc. (“Fiserv”), a leading Payments and Fintech provider. Most recently, he was its Chief Growth Officer. Before that, he served as Fiserv’s President, Payments and Digital Solutions, after serving as its Chief Administrative Officer and as Group President, responsible for Fiserv’s core account processing business. Mr. Vielehr has a Master’s in Business Administration from the Wharton School of the University of Pennsylvania and a Bachelor of Arts in Marketing and Finance from Drexel University’s LeBow College of Business.

In respect of his service as Chief Operating Officer of the Company, Mr. Vielehr will earn an annual base salary of $650,000 and will be eligible to receive an annual discretionary bonus and other partner-level benefits. For services performed in 2022, Mr. Vielehr’s discretionary bonus will be $1,850,000. In connection with his appointment at the Company, Mr. Vielehr will receive a one-time grant of cash incentive income restricted stock units of Apollo Global Management, Inc. (“AGM”) (“performance RSUs”) with an aggregate value of $13,500,000 that will vest in three equal annual installments, subject to the receipt of sufficient performance fees and certain other terms of the award agreement and the AGM 2019 Omnibus Equity Incentive Plan. Mr. Vielehr will also receive additional one-time grants of performance RSUs in lieu of certain Fiserv compensation that he will forfeit: (1) one in the amount of up to $5,350,000 (eligible to vest upon an involuntary termination), and (2) one in the amount of $3,750,000, which awards will vest in three equal annual installments. It is anticipated that Mr. Vielehr will enter into the Company’s standard indemnification agreement for its directors and executive officers.

A copy of the press release announcing the appointment of Mr. Vielehr as Chief Operating Officer of the Company is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

(d)       Exhibits

Exhibit No.	Description
99.1	Press release, dated August 30, 2022
104	Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	APOLLO ASSET MANAGEMENT, INC.
Date: August 30, 2022	By:	/s/ Jessica L. Lomm
		Jessica L. Lomm
		Vice President and Secretary

EX-99.1

EXHIBIT 99.1

Byron Vielehr Named Chief Operating Officer of Apollo Asset Management

Vielehr to lead and scale Apollo’s operating platform globally

NEW YORK, August 30, 2022 – Apollo (NYSE: APO) today announced that Byron Vielehr has been named Partner and Chief Operating Officer (COO) of Apollo Asset Management, Inc. (NYSE: AAM PrA, AAM PrB), effective September 30^th, 2022. Vielehr will work with the leadership team to shape and support the firm’s strategic growth plan, scale Apollo’s global operating platform and harness the power of technology across the firm.

Apollo Asset Management Co-Presidents James Zelter and Scott Kleinman said, "We are pleased to welcome Byron as Chief Operating Officer of Apollo Asset Management. His exceptional breadth of experience in financial services, operations, strategy, and technology are a perfect fit for scaling our businesses globally and reinforcing our entrepreneurial, high-performance culture. By continuing to build a world-class operating platform, we are positioning ourselves to deliver on our strategic growth initiatives, many in the fastest growing segments of the industry.”

Marc Rowan, Chief Executive Officer at Apollo said, “Byron is a tech-fluent and skilled operator with a proven track record leading global operations and driving large-scale transformations. He will further enhance our efforts to scale our business, drive innovation and establish the firm as a leading, modern asset manager.”

Vielehr will be responsible for aligning the strategic business and investment priorities of the firm with its operational capabilities while leading continuous improvement, innovation, and adoption of new technologies. He joins Apollo with over 30 years of technology and financial services experience, including having served in numerous senior operational and executive leadership roles at leading businesses and global organizations. Most recently, Vielehr served as Chief Growth Officer at Fiserv, a leading Payments and Fintech provider. During his eight-year tenure at Fiserv, Vielehr led the Payment, Digital, and Account Processing businesses, and had responsibility for enterprise strategy, M&A, venturing and strategic intelligence. Prior to his time at Fiserv, he spent nearly 10 years at Dun & Bradstreet, an information services provider, where he ultimately served as President of D&B International, President of D&B North America, and Head of Global Operations. Previously, Vielehr served as President and COO of Northstar Systems, and Chief Information Officer of Merrill Lynch Private Client and Merrill Lynch Asset Management.

Of the appointment, Vielehr commented, "I am excited to be joining Apollo during this period of great momentum and accelerating growth trajectory. I look forward to working closely with Apollo’s impressive management team to advance the firm’s disciplined growth strategy by harnessing the power of technology."

About Apollo

Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade to private equity with a focus on three investing strategies: yield, hybrid, and equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of June 30, 2022, Apollo had approximately $515 billion of assets under management. To learn more, please visit www.apollo.com.

Contacts

For Investors:

Noah Gunn

Global Head of Investor Relations

Apollo Global Management, Inc.

(212) 822-0540

IR@apollo.com

For Media:

Joanna Rose

Global Head of Corporate Communications

Apollo Global Management, Inc.

(212) 822-0491

Communications@apollo.com

XML

Cover	Aug. 30, 2022
Document Type	8-K
Amendment Flag	false
Document Period End Date	Aug. 30, 2022
Entity File Number	001-35107
Entity Registrant Name	Apollo Asset Management, Inc.
Entity Central Index Key	0001411494
Entity Tax Identification Number	20-8880053
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	9 West 57th Street
Entity Address, Address Line Two	42nd Floor
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10019
City Area Code	212
Local Phone Number	515-3200
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Entity Emerging Growth Company	false
6.375% Series A Preferred Stock
Title of 12(b) Security	6.375% Series A Preferred Stock
Trading Symbol	AAM.PR A
Security Exchange Name	NYSE
6.375% Series B Preferred Stock
Title of 12(b) Security	6.375% Series B Preferred Stock
Trading Symbol	AAM.PR B
Security Exchange Name	NYSE