Director sells 4,574 Apollo Commercial shares

Apollo Commercial Real Estate Finance director Carmencita N.M.

Rhea-AI Filing Summary

Apollo Commercial Real Estate Finance director Carmencita N.M. Whonder sold 4,574 shares of common stock in an open-market transaction. The shares were sold on May 13, 2026 at a weighted average price of $10.9299 per share, with individual trade prices ranging from $10.92 to $10.95. Following this sale, she directly holds 24,799 Apollo Commercial Real Estate Finance common shares.

Insights

Insider transactions analyst

Director executes a modest open-market sale and remains a sizable shareholder.

The filing shows director Carmencita N.M. Whonder selling 4,574 shares of Apollo Commercial Real Estate Finance common stock in an open-market transaction at a weighted average price of $10.9299 on May 13, 2026.

After the sale, she directly holds 24,799 shares, indicating she retains a meaningful stake. There are no derivative securities reported as remaining positions in this filing, and the transaction is presented as a straightforward sale without references to options exercises or tax-withholding mechanics.

Insider Trade Summary

Net Seller: 4,574 shares

Net Sell 1 txn

Insider Whonder Carmencita N.M.

Role Director

Sold 4,574 shs ($50K)

Type	Security	Shares	Price	Value
Sale	Common Stock	4,574	$10.9299	$50K

Holdings After Transaction: Common Stock — 24,799 shares (Direct)

Footnotes (1)

1. F1. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $10.92 to $10.95 inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

Key Figures

Shares sold: 4,574 shares Weighted average sale price: $10.9299 per share Sale price range: $10.92–$10.95 per share +1 more

4 metrics

Shares sold 4,574 shares Common stock sold on May 13, 2026

Weighted average sale price $10.9299 per share Open-market sale on May 13, 2026

Sale price range $10.92–$10.95 per share Range of individual trade prices in transaction

Shares held after transaction 24,799 shares Director’s direct ownership following sale

Key Terms

open-market sale, weighted average price, non-derivative, Form 4

4 terms

open-market sale financial

"The shares were sold in an open-market transaction at a weighted average price"

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

weighted average price financial

"The price reported in column 4 is a weighted average price"

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

non-derivative financial

"The transaction_type is listed as non-derivative for the common stock sale"

Form 4 regulatory

"The transaction was disclosed in a Form 4 insider trading report"

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did Apollo Commercial Real Estate Finance (ARI) disclose?

Apollo Commercial Real Estate Finance disclosed that director Carmencita N.M. Whonder sold 4,574 shares of common stock. The transaction was an open-market sale, documented on a Form 4, and reflects routine insider trading activity rather than a company-level operational or financial event.

How many Apollo Commercial (ARI) shares did the director sell and at what price?

Director Carmencita N.M. Whonder sold 4,574 shares of Apollo Commercial common stock. The weighted average sale price was $10.9299 per share, with individual trades executed between $10.92 and $10.95, according to the price range disclosed in the filing footnote.

How many Apollo Commercial Real Estate Finance (ARI) shares does the director hold after the sale?

After the reported transaction, director Carmencita N.M. Whonder directly holds 24,799 shares of Apollo Commercial common stock. This post-transaction ownership figure shows she continues to maintain a meaningful equity position in the company following the open-market sale.

Was the Apollo Commercial (ARI) insider trade an open-market sale?

Yes. The Form 4 describes the transaction as an open-market sale of Apollo Commercial common stock. The sale occurred at a weighted average price of $10.9299 per share across multiple trades within a narrow price range of $10.92 to $10.95.

What price range did Apollo Commercial (ARI) insider trades occur in on May 13, 2026?

The director’s Apollo Commercial share sales on May 13, 2026 occurred at prices ranging from $10.92 to $10.95 per share. The reported figure of $10.9299 is a weighted average price across these individual trades in the disclosed range.

Does the Apollo Commercial (ARI) Form 4 show any derivative securities activity?

No. The Form 4 transaction involves only non-derivative common stock of Apollo Commercial Real Estate Finance. The derivative section is empty, indicating there were no option exercises, conversions, or other derivative security transactions reported in this particular filing.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/15/2026 - 06:56 PM EDT Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Whonder Carmencita N.M.

(Last) (First) (Middle)

C/O APOLLO GLOBAL MANAGEMENT, INC.

9 WEST 57TH STREET, 42ND FLOOR

(Street)

NEW YORK NEW YORK 10019

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Apollo Commercial Real Estate Finance, Inc. [ ARI ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/13/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	05/13/2026		S		4,574	D	$10.9299(1)	24,799	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $10.92 to $10.95 inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

	/s/ Jessica L. Lomm, as Attorney-in-Fact	05/15/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)