Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-08-27

Apollo Commercial Real Estate Finance, Inc. (ARI)

CEO Stuart Rothstein was paid $1,085,764 in fiscal year 2025, ↑ up 46.0% from fiscal year 2024 (SEC filing 0001193125-26-248362 ↗): executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.

$1,085,764 ↑
Stuart Rothstein total, FY2025
—
CEO pay percentile vs peers
—
CEO-to-median pay ratio
96.75%
Say-on-pay support, latest vote

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Sample answer — “What is the CEO’s total compensation?”
- Stuart Rothstein (President and Chief Executive Officer), FY2025 total compensation $1,085,764 (base salary $0) [exec_comp, SEC accession 0001193125-26-248362, filed 2026-05-29]

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ARI's next annual pay disclosure, estimated June 28, 2027.est. Filing ↗

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Stuart Rothstein$0$0$1,085,764$0$0$0$0$1,085,764
President and Chief Executive Officer
Anastasia Mironova230,000320,000345,46400061,075956,539
Chief Financial Officer, Treasurer and Secretary

A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.

Three-year trend — total compensation per named executive

Named executive officerFY2025 totalFY2024 totalFY2023 totalΔ FY2024→2025
Stuart Rothstein$1,085,764$743,724$1,099,999↑ +342,040
Anastasia Mironova956,539703,7831,000,261↑ +252,756

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

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$1,085,764 Stuart Rothstein total, FY2025

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Data as of August 27, 2026 · Source: 0001193125-26-248362 · Velarion Executive Compensation Database, deposited on Zenodo (doi:10.5281/zenodo.22283855).

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Companies that benchmark against ARI
5 companies name ARI as a compensation peer

Each company listed discloses ARI in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named ARI in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

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01b

Executives — the named officers

One page per officer: the same table above, read for one person at a time — his own figure and every fiscal year the register holds.

ExecutiveRoleFY2025 total
Anastasia MironovaCFO$956,539
Stuart RothsteinCEO$1,085,764
01c

Board of directors

One page per director: the seat, the committees and the fee table, read for one person at a time.

DirectorRoleFY2025 total
Brenna HaysomIndependent Director$212,352
Carmencita N.M. WhonderDirector$197,352
Katherine G. NewmanDirector—
Mark C. BidermanIndependent Director$222,352
Michael E. SalvatiIndependent Director$259,852
Pamela G. CarltonIndependent Director$212,352
Robert A. KasdinIndependent Director$204,852
Scott S. PrinceIndependent Director$217,352
02

Equity transactions since the proxy statement was filed

Every insider equity transaction reported on Form 4 after the 2025 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.

InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
Michael E. SalvatiDirector2026-08-25D835$7$5,728CommonForm 4 ↗
Michael E. SalvatiDirector2026-08-25D1257858CommonForm 4 ↗

Transaction codes per Form 4: A acquisition · S open-market sale · F tax withholding · M option exercise · G gift. Value = shares × price as reported. Dividend-equivalent and fractional-share accrual rows (derivative Class A, under $10,000 and under 2,000 shares) are aggregated per date; every row appears in full below.

03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Stuart RothsteinRSU2025-12-30——109,452—$1,085,764
Anastasia MironovaRSU2025-12-30——34,825—345,464
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Stuart Rothstein$1,085,764$0$00.0%
Anastasia Mironova345,464000.0%

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Stuart RothsteinRSU196,355—$1,900,716
Anastasia MironovaRSU53,767—520,465
05

Incentive-plan design — the Compensation Discussion & Analysis

Apollo's compensation philosophy is to seek to align the interests of its professionals with those of its stockholders and investors in the vehicles that it manages, including us long-term.

CEO STI target (% of salary)—
CEO LTI target (% of salary)—
Independent consultant—
Clawback policyTrue
Anti-hedgingTrue
Anti-pledgingTrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-07-0980,938,3142,718,117929,85496.75%Passed
20252025-06-1076,102,8164,165,099514,07394.81%Passed
20242024-06-0781,802,5464,303,187680,69095%Passed
20232023-06-0679,537,3672,894,125673,61896.49%Passed
20222022-06-0780,499,8675,678,267664,35993.41%Passed
20212021-06-0884,396,6663,596,641631,43795.91%Passed

Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.

Say-on-pay — history, company's computation

Meeting yearMeeting dateApproval — company's computation
20262026-07-0996.75%a
20252025-06-1094.81%b
20242024-06-0795%c

a. Approved under the standard stated in the filing — “(iii) for the resolution to approve, on an advisory basis, the compensation of our named executive officers, a majority of all the votes cast on the proposal. | Abstentions, if any, and broker non-votes will not be counted as votes cast”.

b. Approved under the standard stated in the filing — “Abstentions will have no effect on the voting results for any of the proposals.”.

c. Approved under the standard stated in the filing — “Abstentions will have no effect on the voting results for any of the proposals.”.

Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.

07

CEO pay ratio

Ratio (CEO : median employee)—
CEO total compensation—
Median employee compensation—
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Michael E. SalvatiIndependent · Audit · Nominating/Corporate Governance · Special Committee (Chair)$162,500$97,352$0—$0$259,852
Mark C. BidermanIndependent · Audit (Chair) · Compensation · Special Committee125,00097,3520—0222,352
Scott S. PrinceIndependent · Audit · Compensation (Chair) · Not standing for re-election120,00097,3520—0217,352
Brenna HaysomIndependent · Audit · Compensation · Special Committee115,00097,3520—0212,352
Pamela G. CarltonIndependent · Compensation · Nominating/Corporate Governance (Chair)115,00097,3520—0212,352
Robert A. KasdinIndependent · Compensation · Nominating/Corporate Governance107,50097,3520—0204,852
Carmencita N.M. WhonderNot independent100,00097,3520—0197,352
Stuart A. RothsteinEmployee director000—00
Katherine G. NewmanNot independent000—00
09

Board fee structure and ownership guideline

Annual cash retainer$100,000
Annual equity retainer$100,000
Per board meeting fee—
Committee chair fees (audit / comp / nom-gov)10,000 / 5,000 / 7,500
Stock ownership guideline3x annual cash retainer
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$845,000
Equity awards (grant-date value)$681,464
All other compensation$0
Total cost of the board$1,526,464

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

10b

Chief executive pay against the peer group

Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1Apollo Commercial Real Estate Finance, Inc.2025Stuart Rothstein$0$1,085,764$0$0$1,085,764

Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.

10d

Frequently asked questions

Who was the highest-paid executive at Apollo Commercial Real Estate Finance, Inc. in fiscal 2025?
As disclosed, Stuart Rothstein (President and Chief Executive Officer) was the highest-paid executive at Apollo Commercial Real Estate Finance, Inc. in fiscal 2025, with total compensation of $1,085,764.
How did shareholders vote on Apollo Commercial Real Estate Finance, Inc.'s executive compensation?
As disclosed, 96.75% of shareholders supported Apollo Commercial Real Estate Finance, Inc.'s executive compensation in the latest say-on-pay vote.
How much does Apollo Commercial Real Estate Finance, Inc. spend in total on board compensation for fiscal 2025?
As disclosed, Apollo Commercial Real Estate Finance, Inc. reported total board compensation of $1,526,464 for fiscal 2025.

Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.

11

Source register

Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.

#SupportsDocumentFiledAccessionLocation in document
1Section 01, Stuart RothsteinDEF 14A2026-05-290001193125-26-248362Section “Summary Compensation Table for 2025” · page 35. As printed: 1,085,764. Filing ↗machine: r2 · c23 · span 262498–262507
2Section 01, Anastasia MironovaDEF 14A2026-05-290001193125-26-248362Section “Summary Compensation Table for 2025”. As printed: 956,539. Filing ↗machine: r5 · c23 · span 268671–268678
3Section 03, Stuart Rothstein RSUDEF 14A2026-05-290001193125-26-248362Section “Grants of Plan Based Awards for 2025” · grants of plan-based awards table. Filing ↗machine: t37 · r2 · c15 · span 279019–279028
4Section 03, Anastasia Mironova RSUDEF 14A2026-05-290001193125-26-248362Section “Grants of Plan Based Awards for 2025” · grants of plan-based awards table. Filing ↗machine: t37 · r3 · c15 · span 280215–280222
5Section 07, pay ratioDEF 14A2026-05-290001193125-26-248362Section “CEO Pay Ratio”. As printed: —. Filing ↗
6Section 08, Michael E. SalvatiDEF 14A2026-05-290001193125-26-248362Section “Director Compensation”. As printed: 259,852. Filing ↗machine: t21 · r7 · c11 · span 180598–180605
7Section 08, Mark C. BidermanDEF 14A2026-05-290001193125-26-248362Section “Director Compensation”. As printed: 222,352. Filing ↗machine: t21 · r2 · c11 · span 175184–175191
8Section 08, Scott S. PrinceDEF 14A2026-05-290001193125-26-248362Section “Director Compensation”. As printed: 217,352. Filing ↗machine: t21 · r6 · c11 · span 179523–179530
9Section 08, Brenna HaysomDEF 14A2026-05-290001193125-26-248362Section “Director Compensation”. As printed: 212,352. Filing ↗machine: t21 · r4 · c11 · span 177353–177360
10Section 08, Pamela G. CarltonDEF 14A2026-05-290001193125-26-248362Section “Director Compensation”. As printed: 212,352. Filing ↗machine: t21 · r3 · c11 · span 176258–176265
11Section 08, Robert A. KasdinDEF 14A2026-05-290001193125-26-248362Section “Director Compensation”. As printed: 204,852. Filing ↗machine: t21 · r5 · c11 · span 178426–178433
12Section 08, Carmencita N.M. WhonderDEF 14A2026-05-290001193125-26-248362Section “Director Compensation”. As printed: 197,352. Filing ↗machine: t21 · r8 · c11 · span 181703–181710
13Section 08, Stuart A. RothsteinDEF 14A2026-05-290001193125-26-248362Section “Director Compensation”. As printed: 0. Filing ↗
14Section 08, Katherine G. NewmanDEF 14A2026-05-290001193125-26-248362Section “Director Compensation”. As printed: 0. Filing ↗
15Section 02, Michael E. Salvati 2026-08-25Form 42026-08-270001193125-26-371304Insider equity transaction reported since the proxy statement. Filing ↗
16Section 02, Michael E. Salvati 2026-08-25Form 42026-08-270001193125-26-371304Insider equity transaction reported since the proxy statement. Filing ↗
17Section 06, 2026 voteForm 8-K2026-07-130001193125-26-301072Item 5.07 · say-on-pay result. As reported: 96.75% (votes for as printed: 80,938,314). Filing ↗
18Section 06, 2025 voteForm 8-K2025-06-110000950170-25-084923Item 5.07 · say-on-pay result. As reported: 94.81% (votes for as printed: 76,102,816). Filing ↗
19Section 06, 2024 voteForm 8-K2024-06-120001193125-24-159956Item 5.07 · say-on-pay result. As reported: 95% (votes for as printed: 81,802,546). Filing ↗
20Section 01 trend, Δ column (computed)Computed——Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
21Section 03b vehicle mix (computed)Computed——RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio
22Section 09b board cost (computed)Computed——Cash 845,000 + equity 681,464 + all other 0 = 1,526,464, summed across the director compensation table rows.machine: formula: Σ = 1,526,464
23Apollo Commercial Real Estate Finance, Inc. (subject), Section 10b CEO totalDEF 14A2026-05-290001193125-26-248362CEO total compensation as printed in Apollo Commercial Real Estate Finance, Inc.'s own proxy. As printed: 1,085,764. Filing ↗machine: r2 · c23 · span 262498–262507

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