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Equity-Based Compensation (Tables)
 6 Months Ended
Jun. 30, 2013
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Activity of AOG Units

The following table summarizes the activity of the AOG Units for the six months ended June 30, 2013:

 

     AOG Units     Weighted Average
Grant Date
Fair Value		  

Balance at January 1, 2013

      1,500,366      $ 20.00   

Vested at June 30, 2013

      (1,500,366 )      20.00   
  

 

 

    

Balance at June 30, 2013

      —        $ —     
  

 

 

    
RSU Activity

The following table summarizes RSU activity for the six months ended June 30, 2013:

 

     Unvested     Weighted Average
Grant Date Fair
Value		      Vested     Total Number of
RSUs
Outstanding		  

Balance at January 1, 2013

      14,724,474      $ 11.62         22,512,930        37,237,404   

Granted

      443,632        20.35         —          443,632   

Forfeited

      (569,664 )      13.71         —          (569,664 ) 

Delivered

      —          13.00         (3,356,149 )      (3,356,149 ) 

Vested

      (3,361,655 )      11.65         3,361,655        —     
  

 

 

       

 

 

    

 

 

  

Balance at June 30, 2013

      11,236,787      $ 11.85         22,518,436        33,755,223 (1) 
  

 

 

       

 

 

    

 

 

  

 

(1) Amount excludes RSUs which have vested and have been issued in the form of Class A shares.
Schedule of Options Granted and Vesting Terms

Under the Company’s 2007 Omnibus Equity Incentive Plan, the following options were granted. Below is a summary of their respective vesting terms:

 

Date of Grant

   

Options Granted

   

Vesting Terms

December 2, 2010

    5,000,000    Vested and became exercisable with respect to 4/24 of the option shares on December 31, 2011 and the remainder vest in equal installments over each of the remaining 20 quarters with full vesting on December 31, 2016.

January 22, 2011

    555,556    Half of such options that vested and became exercisable on December 31, 2011 were exercised on March 5, 2012 and the other half that were due to become exercisable on December 31, 2012 were forfeited during the quarter ended March 31, 2012.

April 9, 2011

    25,000    Vested and became exercisable with respect to half of the option shares on December 31, 2011 and the other half vested in four equal quarterly installments starting on March 31, 2012 and ending on December 31, 2012 and are fully vested as of the date of this report.

July 9, 2012

    50,000    Will vest and become exercisable with respect to 4/24 of the option shares on June 30, 2013 and the remainder will vest in equal installments over each of the remaining 20 quarters with full vesting on June 30, 2018.

December 28, 2012

    200,000   
Weighted Average Assumptions used for Options Awarded

Apollo measures the fair value of each option award on the date of grant using the Black-Scholes option-pricing model with the following weighted average assumptions used for options awarded during 2012:

 

Assumptions:

    2012(2)  

Risk-free interest rate

      1.11 % 

Weighted average expected dividend yield

      8.13 % 

Expected volatility factor(1)

      45.00 % 

Expected life in years

      6.66   

Fair value of options per share

    $ 3.01   

 

(1) The Company determined its expected volatility based on comparable companies using daily stock prices and the Company’s volatility.
(2) Represents weighted average of 2012 grants.
Share Option Activity

The following table summarizes the share option activity for the six months ended June 30, 2013:

 

     Options
Outstanding		     Weighted
Average
Exercise
Price		      Aggregate
Fair
Value		     Weighted
Average
Remaining
Contractual
Term		  

Balance at January 1, 2013

      5,275,000      $ 8.44       $ 29,020        8.01   

Granted

      —          —           —          —     

Exercised

      (1,875,000 )      8.00         (10,538 )      —     

Forfeited

      —          —           —          —     
  

 

 

       

 

 

    

Balance at June 30, 2013

      3,400,000        8.68       $ 18,482        7.56   
  

 

 

       

 

 

    

Exercisable at June 30, 2013

      274,997      $ 10.16       $ 1,464        7.75   
RDU Activity

The following table summarizes RDU activity for the six months ended June 30, 2013:

 

     Unvested      Weighted
Average
Grant Date
Fair Value		      Vested     Total Number
of RDUs
Outstanding		  

Balance at January 1, 2013

      338,430       $ 8.85         114,896        453,326   

Granted

      —           —           —          —     

Forfeited

      —           —           —          —     

Delivered

      —           9.02         (114,896 )      (114,896 ) 

Vested

      —           —           —          —     
  

 

 

        

 

 

    

 

 

  

Balance at June 30, 2013

      338,430       $ 8.85         —          338,430   
  

 

 

        

 

 

    

 

 

  
Activity of RDUs Available for Future Grants

The following table summarizes the activity of RDUs available for future grants:

 

     RDUs Available
For Future
Grants		  

Balance at January 1, 2013

      1,685,345   

Purchases

      6,236   

Granted

      —     

Forfeited

      —     
  

 

 

  

Balance at June 30, 2013

      1,691,581   
  

 

 

  
ARI Restricted Stock Awards and ARI RSUs

The following table summarizes activity for the ARI restricted stock awards and ARI RSUs that were granted to both the Company and certain of its employees for the six months ended June 30, 2013:

 

     ARI
Restricted
Stock
Unvested		      ARI RSUs
Unvested		     Weighted
Average
Grant Date
Fair Value		      ARI RSUs
Vested		      Total
Number of
ARI RSUs
Outstanding		  

Balance at January 1, 2013

      —           237,542      $ 14.62         225,232         462,774   

Granted to employees of the Company

      —           195,000        16.66            195,000   

Granted to the Company

      —           40,000        17.59            40,000   

Forfeited by employees of the Company

         (5,000 )      16.66            (5,000 ) 

Vested awards of the employees of the Company

      —           (49,249 )      14.93         49,249         —     

Vested awards of the Company

      —           (52,000 )      14.85         52,000         —     
  

 

 

     

 

 

       

 

 

     

 

 

  

Balance at June 30, 2013

      —           366,293      $ 15.93         326,481         692,774   
  

 

 

     

 

 

       

 

 

     

 

 

  
Activity for AMTG RSUs

The following table summarizes activity for the AMTG RSUs that were granted to both the Company and certain of its employees for the six months ended June 30, 2013:

 

     AMTG RSUs
Unvested		     Weighted
Average
Grant Date
Fair Value		      AMTG
RSUs
Vested		      Total
Number of
AMTG
RSUs
Outstanding		  

Balance at January 1, 2013

      161,257      $ 20.28         12,862         174,119   

Granted to employees of the Company

      6,250        18.09         —           6,250   

Vested awards of the employees of the Company

      (3,688 )      17.64         3,688         —     

Vested awards of the Company

      (3,125 )      18.20         3,125         —     
  

 

 

       

 

 

     

 

 

  

Balance at June 30, 2013

      160,694      $ 20.30         19,675         180,369   
  

 

 

       

 

 

     

 

 

  
Reconciliation of Equity-Based Compensation

Below is a reconciliation of the equity-based compensation allocated to Apollo Global Management, LLC for the three months ended June 30, 2013:

 

     Total
Amount		      Non-
Controlling
Interest % in
Apollo
Operating
Group		     Allocated to
Non-
Controlling
Interest in
Apollo
Operating
Group(1)		     Allocated to
Apollo
Global
Management,
LLC		  

AOG Units

    $ 15,004         62.0 %    $ 9,461      $ 5,543   

RSUs and Share Options

      27,776         —          —          27,776   

ARI Restricted Stock Awards, ARI RSUs and AMTG RSUs

      462         62.0        291        171   

AAA RDUs

      259         62.0        163        96   
  

 

 

       

 

 

    

 

 

  

Total Equity-Based Compensation

    $ 43,501           9,915        33,586   
  

 

 

         

Less ARI Restricted Stock Awards, ARI RSUs and AMTG RSUs

           (454 )      181   
       

 

 

    

 

 

  

Capital Increase Related to Equity-Based Compensation

         $ 9,461      $ 33,767   
       

 

 

    

 

 

  

 

(1) Calculated based on average ownership percentage for the period considering Class A share issuances during the period.

 

Below is a reconciliation of the equity-based compensation allocated to Apollo Global Management, LLC for the six months ended June 30, 2013:

 

     Total
Amount		      Non-
Controlling
Interest % in
Apollo
Operating
Group		     Allocated to
Non-
Controlling
Interest in
Apollo
Operating
Group(1)		     Allocated to
Apollo
Global
Management,
LLC		  

AOG Units

    $ 30,008         62.0 %    $ 19,163      $ 10,845   

RSUs and Share Options

      56,505         —          —          56,505   

ARI Restricted Stock Awards, ARI RSUs and AMTG RSUs

      1,757         62.0        1,089        668   

AAA RDUs

      517         62.0        321        196   
  

 

 

       

 

 

    

 

 

  

Total Equity-Based Compensation

    $ 88,787           20,573        68,214   
  

 

 

         

Less ARI Restricted Stock Awards, ARI RSUs and AMTG RSUs

           (1,410 )      (156 ) 
       

 

 

    

 

 

  

Capital Increase Related to Equity-Based Compensation

         $ 19,163      $ 68,058   
       

 

 

    

 

 

  

 

(1) Calculated based on average ownership percentage for the period considering Class A share issuances during the period.

 

Below is a reconciliation of the equity-based compensation allocated to Apollo Global Management, LLC for the three months ended June 30, 2012:

 

     Total
Amount		      Non-
Controlling
Interest % in
Apollo
Operating
Group		     Allocated to
Non-
Controlling
Interest in
Apollo
Operating
Group(1)		     Allocated to
Apollo
Global
Management,
LLC		  

AOG Units

    $ 116,171         65.5 %    $ 76,082      $ 40,089   

RSUs and Share Options

      25,213         —          —          25,213   

ARI Restricted Stock Awards, ARI RSUs and AMTG RSUs

      431         65.5        282        149   

AAA RDUs

      299         65.5        196        103   
  

 

 

       

 

 

    

 

 

  

Total Equity-Based Compensation

    $ 142,114           76,560        65,554   
  

 

 

         

Less ARI Restricted Stock Awards, ARI RSUs and AMTG RSUs

           (478 )      (252 ) 
       

 

 

    

 

 

  

Capital Increase Related to Equity-Based Compensation

         $ 76,082      $ 65,302   
       

 

 

    

 

 

  

 

(1) Calculated based on average ownership percentage for the period considering Class A share issuance during the period.

Below is a reconciliation of the equity-based compensation allocated to Apollo Global Management, LLC for the six months ended June 30, 2012:

 

     Total
Amount		      Non-
Controlling
Interest % in
Apollo
Operating
Group		     Allocated to
Non-
Controlling
Interest in
Apollo
Operating
Group(1)		     Allocated to
Apollo
Global
Management,
LLC		  

AOG Units

    $ 232,342         65.5 %    $ 152,412      $ 79,930   

RSUs and Share Options

      57,375         —          —          57,375   

ARI Restricted Stock Awards, ARI RSUs and AMTG RSUs

      826         —          541        285   

AAA RDUs

      437         —          286        151   
  

 

 

       

 

 

    

 

 

  

Total Equity-Based Compensation

    $ 290,980           153,239        137,741   
  

 

 

         

Less ARI Restricted Stock Awards, ARI RSUs and AMTG RSUs

           (827 )      (436 ) 
       

 

 

    

 

 

  

Capital Increase Related to Equity-Based Compensation

         $ 152,412      $ 137,305   
       

 

 

    

 

 

  

 

(1) Calculated based on average ownership percentage for the period considering Class A share issuance during the period.