[144] Apollo Commercial Real Estate Finance, Inc. SEC Filing

Rhea-AI Filing Summary

Apollo Commercial Real Estate Finance, Inc. (ARI) Form 144 notice shows an intended sale of 52,073 common shares through Morgan Stanley Smith Barney with an aggregate market value of $564,471.32, representing sales to occur on or about 09/15/2025 on the NYSE. The shares were acquired as restricted stock units on 01/27/2023. The filing also discloses a prior 10b5-1 sale by Stuart A. Rothstein on 06/16/2025 of 52,074 shares for gross proceeds of $511,819.72. The filer certifies no undisclosed material adverse information and references a possible 10b5-1 plan.

Positive

• Clear disclosure of broker, share count, acquisition date, and sale date
• Shares acquired via RSUs — indicates compensation-related origin rather than opportunistic trading
• Seller represents no undisclosed material information and references 10b5-1 procedures

Negative

• Insider sale of 52,073 shares may be perceived negatively by some investors despite limited size

Insights

Securities/Insider Transactions Analyst

TL;DR: Insider intends to sell ~52k ARI shares (~$564k), consistent with routine RSU monetization and a prior 10b5-1 sale.

This Form 144 indicates a non-derivative sale of common stock by an insider who received the shares as restricted stock units on 01/27/2023. The planned sale of 52,073 shares for about $564,471 on 09/15/2025 appears similar in size to a June 16, 2025 10b5-1 sale of 52,074 shares generating $511,819.72. Such filings typically reflect scheduled monetization rather than company performance signals. The notice includes the standard representation that no material nonpublic information is known to the seller and references a trading plan.

Corporate Governance Specialist

TL;DR: The filing documents compliant insider sale procedures and disclosure; materiality is limited given size relative to total outstanding shares.

From a governance perspective, the disclosure is complete for a Form 144: broker, share count, acquisition history (RSUs), and prior sales are provided. The seller’s representation about absence of undisclosed material information and the mention of a 10b5-1 plan align with best practices. The number of shares to be sold (52,073) is small relative to the stated outstanding shares (138,943,831), suggesting limited potential market impact.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	52073	564471.32	138943831	09/15/2025	NYSE

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	01/27/2023	Restricted Stock Units	Issuer			52073	01/27/2023	N/A

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
10b5-1 Sales for STUART A ROTHSTEIN 9 West 57th Street, 42nd Floor, New York, New York NY 10019	Common	06/16/2025	52074	511819.72

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does the ARI Form 144 disclose about the planned sale?

The filing discloses a planned sale of 52,073 common shares on or about 09/15/2025 through Morgan Stanley Smith Barney with an aggregate market value of $564,471.32.

Who is the seller and how were the shares acquired?

The seller is identified in related entries as Stuart A. Rothstein. The shares were acquired as restricted stock units on 01/27/2023 and the amount to be sold is 52,073.

Were there recent prior sales by this person in ARI?

Yes. A prior 10b5-1 sale on 06/16/2025 disposed of 52,074 shares for gross proceeds of $511,819.72.

On which exchange will the shares be sold?

The filing states the sale is expected to occur on the NYSE.

How large is the sale relative to ARI's outstanding shares?

The sale of 52,073 shares is small relative to the reported 138,943,831 outstanding shares in the filing.