Summary of APOLLO GROUP INC

Change in Directors or Principal Officers, Regulation FD Disclosure, Financial S

Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Appointment of Gregory W. Cappelli and Charles "Chas" B. Edelstein as Co-Chief Executive Officers
On April 24, 2009, Gregory W. Cappelli, age 41, currently the Executive Vice President of Global Strategy and Assistant to the Executive Chairman for Apollo Group, Inc. (the "Company"), was appointed, effective immediately, to the position of Co-Chief Executive Officer of the Company. Mr. Cappelli will share the function and title of Chief Executive Officer with the Company's current Chief Executive Officer Charles "Chas" B. Edelstein, age 49, who became CEO in August 2008. Mr. Cappelli will assume responsibility for the areas of operations, global strategy, external communications and Apollo Global, for which he will continue to serve as Chairman. Mr. Edelstein will focus on the areas of finance, corporate development, human resources and legal. Both executives will report to the Company's Board of Directors, of which they are both members.
On April 24, 2009, as a result of the appointments described above, the Company entered into amendments to the employment agreements with Messrs. Cappelli and Edelstein. Copies of the employment agreement amendments with Messrs. Cappelli and Edelstein (collectively, the "Amendments") are filed with this Current Report on Form 8-K as Exhibits 10.1 and 10.2, respectively, and the summary herein is qualified in its entirety by reference to the Amendments.
The Amendments set forth the allocation of the authority and responsibilities of the position of Chief Executive Officer between Messrs. Cappelli and Edelstein. The amendment to Mr. Cappelli's employment agreement provides that his annual base salary will be increased to $600,000. This salary increase will be effective as of April 24, 2009.

Item 7.01 Regulation FD Disclosure.
On April 27, 2009, the Company issued a press release announcing the appointment of the Co-Chief Executive Officer positions, as described in Item 5.02 of this Form 8-K. A copy of the press release is furnished as Exhibit 99.1 to this Form 8-K.
The information in Item 7.01 of this Form 8-K and Exhibit 99.1 furnished herewith shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities under that section, nor shall they be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in any such filing.

Item 9.01 Financial Statements and Exhibits.
(d) Exhibits. The following exhibits are provided herewith:

Exhibit Number   Description

10.1             Amendment No. 2 to Employment Agreement between Apollo Group, Inc. and
                 Gregory Cappelli, dated April 24, 2009.

10.2             Amendment No. 3 to Employment Agreement between Apollo Group, Inc. and
                 Charles B. Edelstein, dated April 24, 2009.

99.1             Text of press release issued by Apollo Group, Inc. dated April 27, 2009.