AppLovin (APP) CEO sells 40,704 shares, retains large equity stake

Rhea-AI Filing Summary

AppLovin Corp CEO and Chairperson Arash Adam Foroughi sold 40,704 shares of Class A Common Stock in open-market transactions on March 12, 2026. The sales were executed in multiple trades at weighted average prices reported between about $453.80 and $468.33 per share. Following these sales, he directly holds 2,430,414 Class A shares. Separate children’s trusts hold 2,983,017, 1,530,519 and 780,519 additional Class A shares, for which he disclaims beneficial ownership.

Insights

Equity analyst

CEO executes sizable open‑market sale but retains a large equity position.

AppLovin CEO Arash Adam Foroughi sold 40,704 Class A shares in open‑market trades on March 12, 2026, at weighted average prices ranging from about $453.80 to $468.33 per share. All reported transactions are non‑derivative sales, not option exercises.

After these sales he still directly owns 2,430,414 Class A shares, indicating a substantial remaining stake. Additional shares are held through three children’s trusts totaling 2,983,017, 1,530,519 and 780,519 shares, where he formally disclaims beneficial ownership.

This pattern reflects a meaningful but partial reduction in direct holdings with large ongoing exposure. The filing does not reference any Rule 10b5‑1 trading plan in the provided text, so the timing context of the transactions cannot be further assessed from this data alone.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Foroughi Arash Adam

(Last) (First) (Middle)

1100 PAGE MILL ROAD

(Street)

PALO ALTO CA 94304

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
AppLovin Corp [ APP ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
X	Officer (give title below)		Other (specify below)
	CEO & Chairperson

3. Date of Earliest Transaction (Month/Day/Year)
03/12/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	03/12/2026		S		3,061	D	$454.29(1)	2,468,057(2)	D
Class A Common Stock	03/12/2026		S		3,720	D	$455.18(3)	2,464,337(2)	D
Class A Common Stock	03/12/2026		S		2,881	D	$456.28(4)	2,461,456(2)	D
Class A Common Stock	03/12/2026		S		2,520	D	$457.36(5)	2,458,936(2)	D
Class A Common Stock	03/12/2026		S		3,610	D	$458.35(6)	2,455,326(2)	D
Class A Common Stock	03/12/2026		S		4,480	D	$459.37(7)	2,450,846(2)	D
Class A Common Stock	03/12/2026		S		3,680	D	$460.31(8)	2,447,166(2)	D
Class A Common Stock	03/12/2026		S		4,120	D	$461.3(9)	2,443,046(2)	D
Class A Common Stock	03/12/2026		S		3,701	D	$462.37(10)	2,439,345(2)	D
Class A Common Stock	03/12/2026		S		3,204	D	$463.33(11)	2,436,141(2)	D
Class A Common Stock	03/12/2026		S		2,602	D	$464.38(12)	2,433,539(2)	D
Class A Common Stock	03/12/2026		S		2,207	D	$465.4(13)	2,431,332(2)	D
Class A Common Stock	03/12/2026		S		640	D	$466.22(14)	2,430,692(2)	D
Class A Common Stock	03/12/2026		S		240	D	$467.41(15)	2,430,452(2)	D
Class A Common Stock	03/12/2026		S		38	D	$468.33	2,430,414(2)	D
Class A Common Stock								2,983,017	I	See footnote(16)
Class A Common Stock								1,530,519	I	See footnote(17)
Class A Common stock								780,519	I	See footnote(18)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The sales were executed in multiple trades at prices ranging from $453.80 to $454.79. The price reported reflects the weighted average sale price. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate sale price.

2. Certain of these securities are represented by Restricted Stock Units ("RSUs").

3. The sales were executed in multiple trades at prices ranging from $454.815 to $455.80. The price reported reflects the weighted average sale price. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate sale price.

4. The sales were executed in multiple trades at prices ranging from $455.84 to $456.82. The price reported reflects the weighted average sale price. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate sale price.

5. The sales were executed in multiple trades at prices ranging from $456.87 to $457.82. The price reported reflects the weighted average sale price. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate sale price.

6. The sales were executed in multiple trades at prices ranging from $457.87 to $458.84. The price reported reflects the weighted average sale price. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate sale price.

7. The sales were executed in multiple trades at prices ranging from $458.87 to $459.86. The price reported reflects the weighted average sale price. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate sale price.

8. The sales were executed in multiple trades at prices ranging from $459.87 to $460.8375. The price reported reflects the weighted average sale price. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate sale price.

9. The sales were executed in multiple trades at prices ranging from $460.885 to $461.865. The price reported reflects the weighted average sale price. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate sale price.

10. The sales were executed in multiple trades at prices ranging from $461.895 to $462.89. The price reported reflects the weighted average sale price. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate sale price.

11. The sales were executed in multiple trades at prices ranging from $462.90 to $463.87. The price reported reflects the weighted average sale price. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate sale price.

12. The sales were executed in multiple trades at prices ranging from $463.90 to $464.87. The price reported reflects the weighted average sale price. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate sale price.

13. The sales were executed in multiple trades at prices ranging from $464.90 to $465.885. The price reported reflects the weighted average sale price. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate sale price.

14. The sales were executed in multiple trades at prices ranging from $465.935 to $466.725. The price reported reflects the weighted average sale price. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate sale price.

15. The sales were executed in multiple trades at prices ranging from $467.14 to $467.74. The price reported reflects the weighted average sale price. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate sale price.

16. Shares are held by The JAF Children's Trust for the benefit of the Reporting Person's children. The Reporting Person disclaims beneficial ownership of these shares, and the filing of this report is not an admission that the Reporting Person is the beneficial owner of these shares for purposes of Section 16 or for any other purpose.

17. Shares are held by The WHK Trust for the benefit of the Reporting Person's children. The Reporting Person disclaims beneficial ownership of these shares, and the filing of this report is not an admission that the Reporting Person is the beneficial owner of these shares for purposes of Section 16 or for any other purpose.

18. Shares are held by The OD Trust for which the Reporting Person's children are beneficiaries. The Reporting Person disclaims beneficial ownership of these shares, and the filing of this report is not an admission that the Reporting Person is the beneficial owner of these shares for purposes of Section 16 or for any other purpose.

Remarks:

Form 2 of 2

	/s/ Gordon Grafft, Attorney-in-fact	03/13/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

How many AppLovin (APP) shares did the CEO sell in this Form 4?

The CEO, Arash Adam Foroughi, sold 40,704 shares of AppLovin Class A Common Stock. These were reported as open-market sales across multiple trades on March 12, 2026, according to the Form 4 transaction summary.

At what prices did the AppLovin (APP) CEO sell his shares?

The reported sales occurred at weighted average prices from about $453.80 to $468.33 per share. Footnotes state the trades were executed in multiple transactions within price ranges around these averages.

How many AppLovin (APP) shares does the CEO still own directly after the sale?

After the reported transactions, Arash Adam Foroughi directly holds 2,430,414 shares of AppLovin Class A Common Stock. This figure is shown as the total shares following the last reported sale in the non-derivative transaction table.

Were any options or RSUs exercised in this AppLovin (APP) Form 4 filing?

No option exercises are reported. All listed trades are non-derivative open-market sales of Class A Common Stock. A footnote notes that certain securities are represented by Restricted Stock Units (RSUs), but no derivative exercises are shown in the transaction summary.

What indirect AppLovin (APP) holdings related to the CEO are disclosed?

Three children’s trusts are disclosed holding 2,983,017, 1,530,519, and 780,519 Class A shares. The filing explains these are for the benefit of the CEO’s children and that he disclaims beneficial ownership of these shares.

Does the AppLovin (APP) Form 4 say the CEO is the beneficial owner of the trust shares?

No. For each children’s trust, the Form 4 states the CEO disclaims beneficial ownership and that the report is not an admission he is the beneficial owner for Section 16 or any other purpose.