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Share-Based Payments
 3 Months Ended
Mar. 31, 2013
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
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 $883 and $1,083 for the three months ended March 31, 2013 and 2012, respectively, related to restricted stock and RSU vesting. The following table summarizes the grants of RSUs during the three months ended March 31, 2013:

 

Type

    Date      Shares      RSUs      Estimate Fair Value
on Grant Date		      Initial Vesting      Final Vesting  

Grant

      February 2013         20,000         —         $ 352         December 2013         December 2015   

Grant

      February 2013         —           180,000       $ 3,166         December 2013         December 2015   
     

 

 

     

 

 

           

Total

         20,000         180,000            
     

 

 

     

 

 

           

 

Below is a summary of expected restricted common stock and RSU vesting dates as of March 31, 2013.

 

Vesting Date

    Shares Vesting      RSU Vesting      Total Awards  

April 2013

      2,505         834         3,339   

July 2013

      3,273         834         4,107   

October 2013

      1,189         416         1,605   

December 2013

      6,664         59,993         66,657   

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   

December 2014

      6,668         59,999         66,667   

January 2015

      796         —           796   

March 2015

      —           6,667         6,667   

April 2015

      800         —           800   

July 2015

      500         —           500   

December 2015

      6,668         60,008         66,676   
  

 

 

     

 

 

     

 

 

  
     34,295         289,170         323,465