SALVATI MICHAEL 4

What Happened
Michael Salvati, a director of Apollo Commercial Real Estate Finance, Inc. (ARI), was granted 9,587 shares of ARI common stock on April 1, 2026. The award is reported as an "A" (grant/award) transaction with an acquisition price of $0.00, so the filing shows no cash paid for the shares. The grant was made under the Issuer’s 2024 Equity Incentive Plan.

Key Details

• Transaction date: 2026-04-01; filing date (Form 4): 2026-04-03 (appears timely).
• Transaction type/code: A — Award/Grant.
• Shares granted: 9,587; reported price per share: $0.00; aggregate reported value: $0.
• Shares owned after transaction: not specified in the information provided on this summary/filing.
• Footnotes: (F1) Grant made under the Issuer’s 2024 Equity Incentive Plan. (F2) 125 shares are held in a joint account with the reporting person’s son; the reporting person has direct control over that joint account.
• No indication in the filing of a 10b5‑1 plan, tax withholding, or immediate sale (cashless exercise not applicable).

Context
This was an equity award (compensation) rather than a market purchase or sale. Awards are common forms of director compensation and do not, by themselves, indicate the director bought or sold shares on the open market. The filing does not disclose vesting terms or whether any restrictions apply to the granted shares.