Form 8-K Apollo Commercial Real For: May 23

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): May 23, 2016

 

 

Apollo Commercial Real Estate Finance, Inc.

(Exact name of registrant as specified in its charter)

 

 

 

Maryland		001-34452		27-0467113
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)
c/o Apollo Global Management, LLC 9 West 57th Street, 43rd Floor New York, New York				10019
(Address of principal executive offices)				(Zip Code)
Registrant’s telephone number, including area code: (212) 515-3200
n/a
(Former name or former address, if changed since last report.)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

¨	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 

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Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On May 23, 2016, the Board of Directors of Apollo Commercial Real Estate Finance, Inc. (the “Company”) appointed Jai Agarwal, age 41, to the positions of Chief Financial Officer, Secretary and Treasurer of the Company effective June 1, 2016. In connection with Mr. Agarwal’s appointment, Megan B. Gaul and the Company agreed to change the effective date of Ms. Gaul’s resignation as the Company’s Chief Financial Officer, Treasurer and Secretary, which was previously reported to be June 15, 2016, to June 1, 2016.

Prior to joining the Company, Mr. Agarwal served as the Chief Financial Officer and Treasurer of CM Finance Inc. (NASDAQ: CMFN) from September 2014 until May 2016, and Chief Financial Officer of CM Investment Partners LLC from April 2014 until May 2016. Prior to CM Finance Inc. and CM Investment Partners LLC, Mr. Agarwal served as Senior Vice President – Real Estate Debt Strategies Group at The Blackstone Group L.P. (NYSE: BX) from December 2012 until February 2014. Prior to The Blackstone Group L.P., Mr. Agarwal held positions in finance and accounting at Capital Trust, Inc., an NYSE-listed commercial mortgage real estate investment trust, from October 2008 until December 2012. Mr. Agarwal earned a bachelor’s degree from the University of Mumbai and is a Certified Public Accountant.

There is no arrangement or understanding between Mr. Agarwal and any other persons pursuant to which Mr. Agarwal was appointed as the Company’s Chief Financial Officer, Treasurer and Secretary. There are no related person transactions involving Mr. Agarwal that are reportable under Item 404(a) of Regulation S-K. There are no family relationships between Mr. Agarwal and any director or executive officer of the Registrant. Mr. Agarwal will enter into an indemnification agreement with the Company in substantially the same form that the Company has entered into with its directors and other executive officers.

A copy of the press release announcing the appointment of Mr. Agarwal is included as Exhibit 99.1 to this Current Report on Form 8-K. Exhibit 99.1 is deemed “furnished” and not filed under Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 9.01. Financial Statements and Exhibits

 

Exhibit No.		Description
99.1		Press release of Apollo Commercial Real Estate Finance, Inc. dated May 23, 2016 (this exhibit is furnished and not filed).

 

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

Date: May 23, 2016

 

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EXHIBIT INDEX

 

Exhibit No.		Description
99.1		Press release of Apollo Commercial Real Estate Finance, Inc. dated May 23, 2016 (this exhibit is furnished and not filed).

 

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Exhibit 99.1

 

 

FOR IMMEDIATE RELEASE
CONTACT:     Hilary Ginsberg		NYSE: ARI
(212) 822-0767

APOLLO COMMERCIAL REAL ESTATE FINANCE, INC. ANNOUNCES THE

APPOINTMENT OF JAI AGARWAL TO CHIEF FINANCIAL OFFICER

New York, NY, May 23, 2016 – Apollo Commercial Real Estate Finance, Inc. (the “Company” or “ARI”) (NYSE: ARI), today announced the Board of Directors appointed Jai Agarwal to the positions of Chief Financial Officer, Secretary and Treasurer of the Company, effective June 1, 2016. Mr. Agarwal will replace Megan Gaul, who informed the Board of Directors of her resignation from these positions in January 2016.

“We are thrilled to welcome Jai to the ARI team and we are confident his leadership and experience will benefit the Company and our stockholders as we continue to grow ARI’s business,” said Stuart Rothstein, Chief Executive Officer and President of the Company. “Jai will work with Megan to transition her responsibilities. We thank Megan for her tremendous contribution to ARI and we wish her well with her future endeavors.”

Mr. Agarwal brings more than fifteen years of experience in the commercial real estate finance industry to ARI. Prior to joining ARI, he served as the Chief Financial Officer of CM Finance Inc., a NASDAQ-listed business development company. Prior to CM Finance Inc., Mr. Agarwal held positions in finance and accounting at Capital Trust, an NYSE-listed commercial mortgage REIT, The Blackstone Group LP and iStar Financial, Inc., another NYSE-listed commercial mortgage REIT. He is a Certified Public Accountant.

About Apollo Commercial Real Estate Finance, Inc.

Apollo Commercial Real Estate Finance, Inc. (NYSE: ARI) is a real estate investment trust that primarily originates, invests in, acquires and manages performing commercial real estate first mortgage loans, subordinate financings, commercial mortgage-backed securities and other commercial real estate-related debt investments. The Company is externally managed and advised by ACREFI Management, LLC, a Delaware limited liability company and an indirect subsidiary of Apollo Global Management, LLC, a leading global alternative investment manager with approximately $172.5 billion of assets under management at March 31, 2016.

Additional information can be found on the Company’s website at www.apolloreit.com.

Forward-Looking Statements

Certain statements contained in this press release constitute forward-looking statements as such term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such statements are intended to be covered by the safe harbor provided by the same. Forward-looking statements are subject to substantial risks and uncertainties, many of which are difficult to predict and are generally beyond the Company’s control. These forward-looking statements include information about possible or assumed future results of the Company’s business, financial condition, liquidity, results of operations, plans and objectives. When used in this release, the words “believe,” “expect,” “anticipate,” “estimate,” “plan,” “continue,” “intend,” “should,” “may” or similar expressions are intended to identify forward-looking statements. Statements regarding the following subjects, among others, may be forward-looking: the return on equity; the yield on investments; the ability to borrow to finance assets; and risks associated with investing in real estate assets, including changes in business conditions and the general economy. For a further list and description of such risks and uncertainties, see the reports filed by the Company with the Securities and Exchange Commission. The forward-looking statements, and other risks, uncertainties and factors are based on the Company’s beliefs, assumptions and expectations of its

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future performance, taking into account all information currently available to the Company. Forward-looking statements are not predictions of future events. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

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