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SEC filingADT Inc. disclosed Apollo designees' board resignations, bylaws amendment removing Apollo references, and completion of Apollo's sale of 102M shares with Company repurchasing 29M shares under its buyback plan.
The resignations of three Apollo-designees from ADT's Board signal the end of Apollo's significant influence following its complete divestiture of common stock. This governance shift, paired with the bylaws amendment removing Apollo-specific provisions, simplifies the Company's charter and eliminates prior stockholder agreement obligations. The concurrent secondary offering of 102 million shares by Apollo entities, with ADT opportunistically repurchasing nearly 29 million shares at no underwriting fee under its existing $1.5 billion authorization, supports capital return to shareholders without diluting its cash position from the sale proceeds, which went entirely to the sellers.