SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* Zelter James C (Last) (First) (Middle) C/O APOLLO GLOBAL MANAGEMENT, INC. 9 WEST 57TH STREET, 43RD FLOOR (Street) NEW YORK NY 10019 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol Apollo Global Management, Inc. [ APO ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X Director 10% Owner X Officer (give title below) Other (specify below) Co-President
	3. Date of Earliest Transaction (Month/Day/Year) 12/27/2021
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	12/27/2021		M		8,100	A	(1)	8,100	I	Zelter APO Series LLC(2)
Class A Common Stock								6,384,865(3)	D
Class A Common Stock								1,061,256	I	The James C. Zelter 2021 GRAT No. 1(4)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Apollo Operating Group units	(1)	12/27/2021		M			8,100	(5)	(5)	Class A Common Stock	8,100	(6)	2,005,070	I	See Footnote(7)

Explanation of Responses:

1. Each Apollo Operating Group ("AOG") unit represents a right to receive one share of Class A common stock of Apollo Global Management, Inc. (the "Issuer"), subject to the restrictions and provisions set forth in the reporting person's Roll-Up Agreement, dated July 13, 2007, by and among the reporting person, the Issuer, AP Professional Holdings, L.P. ("AP Professional Holdings"), and the other parties thereto (the "Roll-Up Agreement"), and the Seventh Amended and Restated Exchange Agreement, dated as of July 29, 2020, by and among the Issuer, AP Professional Holdings and the other parties thereto (the "Seventh A&R Exchange Agreement").

2. By Zelter APO Series LLC, a vehicle over which the reporting person exercises voting and investment control. This exchange transaction does not involve the sale of any shares of Class A Common Stock.

3. Reported amount includes 6,093,476 vested and unvested restricted stock units ("RSUs") granted under the Apollo Global Management, Inc. 2019 Omnibus Equity Incentive Plan (the "Plan"). Each RSU represents the contingent right to receive, in accordance with the issuance schedule set forth in the applicable RSU award agreement, one share of Class A common stock of the Issuer for each vested RSU. The RSUs vest in installments in accordance with the terms of the applicable RSU award agreement, provided the reporting person remains in service through the applicable vesting date.

4. By The James C. Zelter 2021 GRAT No. 1, a vehicle over which the reporting person exercises voting and investment control.

5. The AOG units were fully vested as of June 30, 2013 and do not expire.

6. Pursuant to Instruction 4(c)(iii), this response has been left blank.

7. By AP Professional Holdings. Zelter APO Series LLC and a trust for the benefit of the reporting person's family members for which the reporting person acts as a trustee (the "Trust") are limited partners in AP Professional Holdings, the direct holder of the AOG units. The AOG units indirectly held by Zelter APO Series LLC and the Trust are the number of AOG units that they have a right to receive as limited partners in AP Professional Holdings, subject to the restrictions and provisions set forth in the Roll-Up Agreement and the Seventh A&R Exchange Agreement, as further amended and restated. Zelter APO Series LLC became a limited partner in AP Professional Holdings following a transfer on December 24, 2021 of the reporting person's limited partnership interest in AP Professional Holdings.

Remarks:

	/s/ Jessica L. Lomm, as Attorney-in-Fact	12/29/2021
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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