<SEC-DOCUMENT>0000950170-25-087470.txt : 20250617
<SEC-HEADER>0000950170-25-087470.hdr.sgml : 20250617
<ACCEPTANCE-DATETIME>20250617165330
ACCESSION NUMBER:		0000950170-25-087470
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20250616
FILED AS OF DATE:		20250617
DATE AS OF CHANGE:		20250617

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			ROTHSTEIN STUART
		CENTRAL INDEX KEY:			0001128865
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34452
		FILM NUMBER:		251054049

	MAIL ADDRESS:	
		STREET 1:		C/O APOLLO DIVERSIFIED REAL ESTATE FUND
		STREET 2:		9 WEST 57TH STREET
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Apollo Commercial Real Estate Finance, Inc.
		CENTRAL INDEX KEY:			0001467760
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		ORGANIZATION NAME:           	05 Real Estate & Construction
		EIN:				270467113
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		C/O APOLLO GLOBAL MANAGEMENT, LLC
		STREET 2:		9 WEST 57TH STREET, 43RD FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		(212) 515-3200

	MAIL ADDRESS:	
		STREET 1:		C/O APOLLO GLOBAL MANAGEMENT, LLC
		STREET 2:		9 WEST 57TH STREET, 43RD FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>ownership.xml
<DESCRIPTION>4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0508</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2025-06-16</periodOfReport>

    <issuer>
        <issuerCik>0001467760</issuerCik>
        <issuerName>Apollo Commercial Real Estate Finance, Inc.</issuerName>
        <issuerTradingSymbol>ARI</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001128865</rptOwnerCik>
            <rptOwnerName>ROTHSTEIN STUART</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O APOLLO GLOBAL MANAGEMENT, INC.</rptOwnerStreet1>
            <rptOwnerStreet2>9 WEST 57TH STREET, 42ND FLOOR</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10019</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>true</isDirector>
            <isOfficer>true</isOfficer>
            <isTenPercentOwner>false</isTenPercentOwner>
            <isOther>false</isOther>
            <officerTitle>President &amp; CEO</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>true</aff10b5One>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2025-06-16</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>false</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>52074</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>9.8287</value>
                    <footnoteId id="F2"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>333854</value>
                    <footnoteId id="F3"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">The sales by the reporting person reported in this Form 4 were effected pursuant to a Rule 10b5-1 plan adopted by the reporting person on November 13, 2024.</footnote>
        <footnote id="F2">The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $9.78 to $9.91, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.</footnote>
        <footnote id="F3">Reported amount includes 210,122 restricted stock units (&quot;RSUs&quot;) granted under the Amended and Restated Apollo Commercial Real Estate Finance, Inc. 2019 Equity Incentive Plan and the Apollo Commercial Real Estate Finance, Inc. 2024 Equity Incentive Plan. Each RSU represents the contingent right to receive one share of the Issuer's common stock for each vested RSU. The RSUs vest in installments in accordance with the terms of the applicable RSU Award Agreement by and between the reporting person and the Issuer, provided the reporting person remains in service through the applicable vesting dates.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Jessica L. Lomm, as attorney-in-fact</signatureName>
        <signatureDate>2025-06-17</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
