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Share-Based Payments
 9 Months Ended
Sep. 30, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Share-Based Payments
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, 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 $784 and $2,095 for the three and nine months ended September 30, 2013, respectively, related to restricted stock and RSU vesting. The Company recognized stock-based compensation expense of $1,276 and $3,244 for the three and nine months ended September 30, 2012, respectively, related to restricted stock and RSU vesting. The following table summarizes the grants of restricted common stock and RSUs during the nine months ended September 30, 2013:
Type
Date
 
Restricted Stock
 
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
Grant
April 2013
 
11,304

 
—

 
200

 
July 2013
 
April 2016
Grant
May 2013
 
—

 
15,000

 
261

 
December 2013
 
December 2015
Forfeiture *
June 2013
 
—

 
(5,000
)
 
n/a

 
n/a
 
n/a
Grant
September 2013
 
—

 
10,000

 
153

 
September 2013
 
September 2013
Total
 
 
31,304

 
200,000

 
 
 
 
 
 
* Represents RSUs forfeited by a former employee of the Manager in connection with such employee’s resignation from the
Manager.
 
Below is a summary of expected restricted common stock and RSU vesting dates as of September 30, 2013.

Vesting Date
Shares Vesting
 
RSU Vesting
 
Total Awards
October 2013
2,925

 
416

 
3,341

December 2013
6,664

 
63,327

 
69,991

January 2014
2,504

 
93,335

 
95,839

March 2014
—

 
6,667

 
6,667

April 2014
2,508

 
417

 
2,925

July 2014
1,740

 
—

 
1,740

July 2014
500

 
—

 
500

October 2014
1,736

 
—

 
1,736

December 2014
6,668

 
63,332

 
70,000

January 2015
1,744

 
—

 
1,744

March 2015
—

 
6,667

 
6,667

April 2015
1,744

 
—

 
1,744

July 2015
944

 
—

 
944

July 2015
500

 
—

 
500

October 2015
944

 
—

 
944

December 2015
6,668

 
63,341

 
70,009

January 2016
944

 
—

 
944

April 2016
944

 
—

 
944

 
39,677

 
297,502

 
337,179