ARI Director Michael Salvati Sells 960 Shares

What Happened

Michael Salvati, a director of Apollo Commercial Real Estate Finance, Inc. (ARI), reported two open-market sales on 2026-08-25: 835 shares at $6.86 each (proceeds ~$5,728) and 125 shares at $6.86 each (proceeds ~$858), for total gross proceeds of approximately $6,586. These transactions are disposals (sales), which are common insider activity and do not by themselves indicate company outlook.

Key Details

• Transaction dates and prices: 2026-08-25 — 835 shares @ $6.86 and 125 shares @ $6.86.
• Total shares sold: 960; total proceeds: about $6,586.
• Transaction type: Open market sale (code S).
• Shares owned after transaction: not specified in the provided filing excerpt.
• Footnote: The shares were held in a joint account with the reporting person's son; the reporting person had direct control over that joint account (Footnote F1).
• Filing timeliness: Report filed 2026-08-27 for transactions on 2026-08-25 (appears to be filed within the typical two-business-day Form 4 window).

Context

Sales by directors are often routine (tax planning, diversification, personal liquidity) and should not be interpreted alone as a signal about company fundamentals. For investors, purchases generally carry more informational weight than routine sales.