Apollo Commercial Real Estate Finance to Delist Common Stock From NYSE

What happened

Apollo Commercial Real Estate Finance, Inc. (NYSE: ARI) said on October 16, 2026 that it intends to file a Form 25, or Notification of Removal from Listing, with the Securities and Exchange Commission and the New York Stock Exchange relating to the delisting of its common stock. The company disclosed the plan in a Form 8-K and in a press release attached to that filing as Exhibit 99.1.

According to the filing, the Form 25 is expected to be filed on or about October 27, 2026, and the last day of trading on the NYSE is expected to be November 6, 2026.

The company's common stock, $0.01 par value, trades under the symbol ARI on the NYSE. Shares closed at $6.43 on the day of the filing, up 0.31% from the prior close of $6.41, according to the price data.

The filing

The Form 8-K carries three items. Item 3.01 is the notice of delisting or failure to satisfy a continued listing rule, or transfer of listing. Item 7.01 is a Regulation FD disclosure, used when a company gives material information to outside parties — here, the press release attached as Exhibit 99.1. Item 9.01 covers the financial statements and exhibits, listing that press release and the cover page interactive data file.

The filing does not state a reason for the delisting. It says only that the company intends to file the Form 25 and gives the expected dates. It does not say where, if anywhere, the shares will trade after leaving the NYSE, and it does not describe a successor listing, a merger, or a going-private transaction. The 8-K was signed by Stuart A. Rothstein, the company's president and chief executive officer.

Apollo Commercial Real Estate Finance is a real estate investment trust. It is externally managed and, per the filing's cover page, its principal executive offices are at 9 West 57th Street in New York, in the offices of Apollo Global Management, Inc.

What this means

A Form 25 is the document that removes a security from an exchange listing. Either the company itself or the exchange can file one. This one is being filed by the company, and because it covers common stock — the shares ordinary investors buy and sell — it is a substantive event, not routine paperwork. The equivalent filing for a maturing bond, by contrast, is usually just a note being repaid on schedule.

The sequence is mechanical. The Form 25 is filed with the SEC and the NYSE, and a set number of days later the security stops trading on that exchange. Here the company expects the filing around October 27 and the last day of NYSE trading on November 6. After the last trading day, ARI shares can no longer be bought or sold on the NYSE.

Apollo Commercial Real Estate Finance is a REIT, which in the United States is a company that owns income-producing real estate or real estate debt and that must distribute most of its taxable income to shareholders to keep that tax status. This one holds commercial real estate loans and securities rather than physical properties, which is why its results move with credit conditions rather than with rents.

The filing does not say what happens to the shares after November 6. A company's stock can continue trading on another exchange or in the over-the-counter market, or the company can be taken private or wound down, but none of that is described in the documents here. Shareholders who want to know where, or whether, the shares will trade after the last day on the NYSE will need to wait for further disclosure from the company.

The closing price of $6.43 on the day the delisting plan was announced was barely changed from the prior close, according to the price data. The sources do not explain why the delisting is happening, and nothing in them should be read as a cause.