Management Holdings GP, LLC (“Management Holdings GP”) is the general partner of Management Holdings. Each of the entities listed herein, other than Tiger Holdings, AP IX Tiger, Tiger Co-Invest, and Tiger Co-Invest ML, disclaims beneficial ownership of any shares of the common stock owned of record by Tiger Holdings, AP IX Tiger, Tiger Co-Invest, and Tiger Co-Invest ML, except to the extent of any pecuniary interest therein. The address of the principal office of each of Tiger GP, Tiger Co-Invest ML GP, and AP IX Tiger GP is One Manhattanville Road, Suite 201, Purchase, New York 10577. The address of the principal office of each of Tiger Holdings, AP IX Tiger, Tiger Co-Invest, Tiger Co-Invest ML, and Management Holdings is One Manhattanville Road, Suite 201, Purchase, New York 10577. The address of the principal office of each of Management IX, AIF IX LLC, Apollo LP, Management GP, and Management Holdings GP is 9 West 57th Street, New York, NY 10019.
Material Relationships with Selling Stockholders
Apollo
Apollo Global Management, Inc. (“Apollo” and, together with its affiliates (including the Selling Stockholders), the “Apollo Entities”) is an affiliate of the Company. Without giving effect to this offering or to the Concurrent Share Repurchase, as of November 30, 2022, the Apollo Entities beneficially owned approximately 45.0% of outstanding shares of our common stock, and, after giving effect to this offering and the Concurrent Share Repurchase, the Apollo Entities will beneficially own approximately 40.7% of outstanding shares of our common stock (or approximately 40.0% of outstanding shares of our common stock if the underwriters’ option to purchase additional shares is exercised in full).
The Apollo Entities acquired these shares from us in connection with our acquisition of Tiger Parent, the indirect parent entity of Tech Data. Such shares of common stock were sold and issued by us to the Apollo Entities pursuant to the terms and subject to the conditions of the Merger Agreement. Additionally, in connection with the completion of the Mergers, we entered into an Investor Rights Agreement (the “Investor Rights Agreement”) with Tiger Holdings, an affiliate of Apollo. Pursuant to the Investor Rights Agreement, the Apollo Entities have the right to nominate (i) up to four directors if the Apollo Entities own 30% or more of the outstanding shares of our common stock, (ii) up to three directors if the Apollo Entities own between 20% and 30% of the outstanding shares of our common stock, (iii) up to two directors, if the Apollo Entities own between 10% and 20% of the outstanding shares of our common stock or (iv) up to one director, if the Apollo Entities own between 5% and 10% of the outstanding shares of our common stock (such directors nominated by the Apollo Entities, the “Apollo Directors”). The current Apollo Directors are Robert Kalsow-Ramos, Nayaki Nayyar, Matthew Nord, and Merline Saintil. The Investor Rights Agreement also provides that, of the remaining directors who are not Apollo Directors, one director shall be the then-serving Chief Executive Officer of the Company, currently Richard Hume, and the other directors will be nominated in accordance with the provisions of our bylaws and Certificate of Incorporation. The Apollo Directors must fulfill their pro rata portion of any diversity requirements pursuant to law, stock exchange rules, or other regulatory requirements based on the percentage of our board of directors consisting of Apollo Directors.
Under the Investor Rights Agreement, we have waived the corporate opportunity doctrine to the extent permitted under the Delaware General Corporation Law with respect to the Apollo Directors and Apollo Entities, so long as such person is not an employee of the Company or our subsidiaries (the “Covered Persons”). Specifically, we agreed that the Covered Persons do not have a duty to refrain from: (i) investing in or conducting any business of any kind, (ii) doing business with our or any of our affiliates’ clients, customers, vendors or lessors, or (iii) making any investments in any kind of property in which we may make investments. Further, we agreed, among other things, subject to any express agreement otherwise that may from time to time be in effect, that if a Covered Person acquires knowledge of a potential transaction which may constitute a corporate opportunity for both (a) the Covered Person outside of his or her capacity as a member of our board of directors and (b) the Company, then the Covered Person shall not have any duty to offer or communicate information regarding such corporate opportunity to us, and we renounced any interest or expectancy in any potential transaction or matter of
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