XML 36 R23.htm IDEA: XBRL DOCUMENT
v3.3.1.900

Share-Based Payments | 12 Months Ended
--- | ---
Dec. 31, 2015
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, 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 $4,387, $1,576 and $3,488 during 2015, 2014 and 2013, respectively, related to restricted stock and RSU vesting. The fair value of restricted stock that vested during 2015, 2014 and 2013 was $547, $445 and $293, respectively. The fair value of RSUs that vested during 2015, 2014 and 2013 was $3,471, $2,729 and $2,854, respectively. The following table summarizes the grants, exchanges and forfeitures of restricted common stock and RSUs during 2015, 2014 and 2013:
| Type | Date |  | Restricted Stock |  | RSUs |  | Estimate Fair Value on Grant Date |  | Initial Vesting |  | Final Vesting
Outstanding at January 1, 2013 |  | 172,112 |  |  | 308,750 |  |  |  |  |  |  |
| 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 |  |  | 264 |  |  | December 2013 |  | December 2015
| Forfeiture | June 2013 |  | — |  |  | (5,000 | ) |  | n/a |  |  | n/a |  | n/a
| Canceled upon delivery | July 2013 |  | — |  |  | (5,000 | ) |  | n/a |  |  | n/a |  | n/a
| Grant | September 2013 |  | — |  |  | 10,000 |  |  | 154 |  |  | September 2013 |  | September 2013
| Grant | November 2013 |  | 5,000 |  |  | — |  |  | 81 |  |  | December 2013 |  | October 2016
| Canceled upon delivery | January 2014 |  | — |  |  | (288,750 | ) |  | n/a |  |  | n/a |  | n/a
| Grant | April 2014 |  | 8,931 |  |  | — |  |  | 150 |  |  | July 2014 |  | April 2017
| Grant | April 2014 |  | 5,000 |  |  | — |  |  | 85 |  |  | July 2014 |  | April 2017
| Canceled upon delivery | April 2014 |  | — |  |  | (5,000 | ) |  | n/a |  |  | n/a |  | n/a
| Grant | June 2014 |  | — |  |  | 10,254 |  |  | 169 |  |  | December 2014 |  | December 2016
| Grant | December 2014 |  | 51,767 |  |  | — |  |  | 855 |  |  | December 2015 |  | December 2017
| Grant | December 2014 |  | — |  |  | 390,000 |  |  | 6,474 |  |  | December 2015 |  | December 2017
| Grant | January 2015 |  | — |  |  | 8,000 |  |  | 132 |  |  | December 2015 |  | December 2017
| Forfeiture | January 2015 |  | — |  |  | (5,000 | ) |  | n/a |  |  | n/a |  | n/a
| Canceled upon delivery | March 2015 |  | — |  |  | (20,000 | ) |  | n/a |  |  | n/a |  | n/a
| Grant | April 2015 |  | 15,950 |  |  | — |  |  | 275 |  |  | July 2015 |  | April 2018
| Forfeiture | June 2015 |  | — |  |  | (3,500 | ) |  | n/a |  |  | n/a |  | n/a
| Grant | July 2015 |  | — |  |  | 1,631 |  |  | 27 |  |  | June 2016 |  | June 2018
| Forfeiture | August 2015 |  | — |  |  | (5,000 | ) |  | n/a |  |  | n/a |  | n/a
| Grant | December 2015 |  | 50,000 |  |  | — |  |  | 874 |  |  | December 2016 |  | December 2018
| Grant | December 2015 |  | — |  |  | 656,425 |  |  | 11,461 |  |  | December 2016 |  | December 2018
Outstanding at December 31, 2015 |  | 340,064 |  |  | 1,242,810 |  |  |  |  |  |  |
Below is a summary of restricted stock and RSU vesting dates as of December 31, 2015.
Vesting Date | Shares Vesting |  | RSU Vesting |  | Total Awards
January 2016 | 4,629 |  |  | — |  |  | 4,629 |
April 2016 | 4,627 |  |  | — |  |  | 4,627 |
June 2016 | — |  |  | 543 |  |  | 543 |
July 2016 | 4,158 |  |  | — |  |  | 4,158 |
October 2016 | 4,158 |  |  | — |  |  | 4,158 |
December 2016 | 28,920 |  |  | 350,379 |  |  | 379,299 |
January 2017 | 3,737 |  |  | — |  |  | 3,737 |
April 2017 | 3,745 |  |  | — |  |  | 3,745 |
June 2017 | — |  |  | 544 |  |  | 544 |
July 2017 | 2,580 |  |  | — |  |  | 2,580 |
October 2017 | 2,577 |  |  | — |  |  | 2,577 |
December 2017 | 28,923 |  |  | 346,982 |  |  | 375,905 |
January 2018 | 1,330 |  |  | — |  |  | 1,330 |
April 2018 | 1,331 |  |  | — |  |  | 1,331 |
June 2018 | — |  |  | 544 |  |  | 544 |
December 2018 | 16,670 |  |  | 218,822 |  |  | 235,492 |
| 107,385 |  |  | 917,814 |  |  | 1,025,199 |
At December 31, 2015, the Company had unrecognized compensation expense of approximately $1,775 and $15,790, respectively, related to the vesting of restricted stock awards and RSUs noted in the table above. RSU Deliveries During 2015, 2014 and 2013, respectively, the Company delivered 12,763, 240,277 and 3,057 shares of common stock for 20,000, 283,750 and 5,000 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 adjustments were $122, $876 and $31 in 2015, 2014 and 2013, respectively, and are included as reductions of capital increase related to the Company's equity incentive plan in the consolidated statement of changes in shareholders’ equity.

X
- 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 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 2: 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 3: 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 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 FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 14 + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration