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Share-Based Payments | 12 Months Ended
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Dec. 31, 2012
Share-Based Payments | Note 11 – Share-Based Payments On September 23, 2009, the Company’s board of directors approved the Apollo Commercial Real Estate Finance, Inc., 2009 Equity Incentive Plan (the “LTIP”). The LTIP provides for grants of restricted common stock, restricted stock units (“RSUs”) and other equity-based awards up to an aggregate of 7.5% of the issued and outstanding shares of the Company’s common stock (on a fully diluted basis). The LTIP is administered by the compensation committee of the Company’s board of directors (the “Compensation Committee”) and all grants under the LTIP must be approved by the Compensation Committee. The Company recognized stock-based compensation expense of $3,624, $1,788 and $1,452 during 2012, 2011 and 2010, respectively, related to restricted stock and RSU vesting. The following table summarizes the grants, exchanges and forfeitures of restricted stock and RSUs during 2012, 2011 and 2010:
Type |  | Date |  | Restricted Stock Granted/ (Retired) |  |  | RSUs Granted/ (Forfeited) |  |  | Estimated Fair Value on Grant Date |  |  | Initial Vesting |  | Final Vesting
Exchange |  | March 2010 |  |  | (102,084 | ) |  |  | 102,084 |  |  |  | 1,796 |  |  | July 1, 2010 |  | September 29, 2012
Grant |  | April 2010 |  |  | 8,364 |  |  |  | — |  |  |  | 150 |  |  | July 1, 2010 |  | April 1, 2013
Grant |  | July 2010 |  |  | — |  |  |  | 5,000 |  |  |  | 80 |  |  | October 1, 2010 |  | July 1, 2013
Exchange |  | July 2010 |  |  | (16,875 | ) |  |  | 16,875 |  |  |  | 269 |  |  | October 1, 2010 |  | September 29, 2012
Forfeiture* |  | August 2010 |  |  | — |  |  |  | (5,000 | ) |  |  | n/a |  |  | n/a |  | n/a
Forfeiture** |  | November 2010 |  |  | (5,077 | ) |  |  | — |  |  |  | n/a |  |  | n/a |  | n/a
Grant |  | December 2010 |  |  | 5,000 |  |  |  | — |  |  |  | 83 |  |  | December 1, 2010 |  | July 1, 2013
Grant |  | April 2011 |  |  | 9,204 |  |  |  |  |  |  |  | 150 |  |  | July 1, 2011 |  | April 1, 2014
Grant |  | April 2011 |  |  | — |  |  |  | 5,000 |  |  |  | 82 |  |  | July 1, 2011 |  | April 1, 2014
Grant |  | August 2011 |  |  | — |  |  |  | 308,750 |  |  |  | 4,586 |  |  | January 1, 2012 |  | January 1, 2014
Forfeiture * |  | December 2011 |  |  | — |  |  |  | (30,000 | ) |  |  | n/a |  |  | n/a |  | n/a
Forfeiture* |  | February 2012 |  |  | — |  |  |  | (1,875 | ) |  |  | n/a |  |  | n/a |  | n/a
Grant |  | March 2012 |  |  | — |  |  |  | 20,000 |  |  | $ | 310 |  |  | March 2013 |  | March 2015
Grant |  | April 2012 |  |  | 9,584 |  |  |  | — |  |  | $ | 150 |  |  | July 2012 |  | April 2015
Grant |  | August 2012 |  |  | 1,496 |  |  |  | — |  |  | $ | 25 |  |  | July 2013 |  | July 2015
Total |  |  |  |  | (90,388 | ) |  |  | 420,834 |  |  |  |  |  |  |  |  |
* | Represents RSUs forfeited by a former employee of the Manager in connection with such employee’s resignation from the Manager.
** | Represents restricted stock forfeited by a former director of the Company in connection with such director’s resignation from the Company’s board of directors.
Below is a summary of restricted stock and RSU vesting dates as of December 31, 2012.
Vesting Date |  | Shares Vesting |  |  | RSU Vesting |  |  | Total Awards |
January 2013 |  |  | 2,507 |  |  |  | 93,749 |  |  |  | 96,256 |
March 2013 |  |  | — |  |  |  | 6,666 |  |  |  | 6,666 |
April 2013 |  |  | 2,505 |  |  |  | 834 |  |  |  | 3,339 |
July 2013 |  |  | 3,273 |  |  |  | 834 |  |  |  | 4,107 |
October 2013 |  |  | 1,189 |  |  |  | 416 |  |  |  | 1,605 |
January 2014 |  |  | 1,564 |  |  |  | 93,335 |  |  |  | 94,899 |
March 2014 |  |  | — |  |  |  | 6,667 |  |  |  | 6,667 |
April 2014 |  |  | 1,568 |  |  |  | 417 |  |  |  | 1,985 |
July 2014 |  |  | 2,100 |  |  |  | — |  |  |  | 2,100 |
January 2015 |  |  | 796 |  |  |  | — |  |  |  | 796 |
March 2015 |  |  | — |  |  |  | 6,667 |  |  |  | 6,667 |
April 2015 |  |  | 800 |  |  |  | — |  |  |  | 800 |
July 2015 |  |  | 500 |  |  |  | — |  |  |  | 500 |
|  |  | 16,802 |  |  |  | 209,585 |  |  |  | 226,387 |
RSU Deliveries During 2012, the Company delivered 67,354 shares of common stock for 112,084 vested RSUs. The Company allows RSU participants to settle their tax liabilities with a reduction of their share delivery from the originally granted and vested RSUs. The amount, when agreed to by the participant, results in a cash payment to the Manager related to this tax liability and a corresponding adjustment to additional paid in capital on the consolidated statement of changes in stockholders equity. The adjustment was $779 in 2012 and is included a reduction of capital increase related to equity incentive plan in the consolidated statement of changes in shareholders’ equity.

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- Definition The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 14 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6406099&loc=d3e25284-112666 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Statement of Position (SOP) -Number 93-6 -Paragraph 53 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 40 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6418621&loc=d3e17540-113929 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 123R -Paragraph 64, 65, A240 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901 + Details
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