Apollo Lifts

Feb 25, 2021

Feb 25 2021, 10:41 AM February 25 2021, 2:38 AM February 25 2021, 10:41 AM (Bloomberg) -- Apollo Global Management Inc. will boost annual pay for independent directors by at least 20% as it seeks to bolster corporate governance following the backlash over co-founder Leon Black’s business ties with sex offender Jeffrey Epstein. (Bloomberg) -- Apollo Global Management Inc. will boost annual pay for independent directors by at least 20% as it seeks to bolster corporate governance following the backlash over co-founder Leon Black’s business ties with sex offender Jeffrey Epstein. The biggest beneficiary will be lead independent director Jay Clayton, the former Securities and Exchange Commission chairman. He’ll get a $250,000 annual fee, an initial award of $750,000 in restricted stock units covering the first three years and $250,000 of RSUs for each subsequent year, according to a regulatory filing . “As part of the sweeping corporate governance enhancements, enacted and proposed, we will continue to expand and enhance the board with qualified directors as we further increase the independence of the board,” an Apollo spokesperson said in an emailed statement. “Their compensation is in line with industry standards and their responsibilities.”