[Form 4] AppLovin Corp Insider Trading Activity

Rhea-AI Filing Summary

AppLovin Corp (APP) reported insider transactions by its CEO and Chairperson, who is also a director and 10% owner. On 11/21/2025, an affiliated trust for the benefit of the executive’s children executed a series of open-market sales of Class A common stock. These trades were broken into multiple blocks, with weighted average sale prices reported for each block and underlying trade prices ranging from $504.06 to $528.82 per share. After the reported sales, the filing shows the trust holding 2,983,017 Class A shares indirectly, with additional indirect holdings of 1,530,519 and 780,519 Class A shares in separate children’s trusts. The executive formally disclaims beneficial ownership of the trust-held shares, stating that the report does not admit beneficial ownership for Section 16 or any other purpose.

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
Estimated average burden
hours per response:			0.5

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)
11/21/2025

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	11/21/2025		S		440	D	$504.62(1)	2,998,508	I	See footnote(2)
Class A Common Stock	11/21/2025		S		485	D	$505.69(3)	2,998,023	I	See footnote(2)
Class A Common Stock	11/21/2025		S		560	D	$506.72(4)	2,997,463	I	See footnote(2)
Class A Common Stock	11/21/2025		S		440	D	$508.01(5)	2,997,023	I	See footnote(2)
Class A Common Stock	11/21/2025		S		400	D	$509.01(6)	2,996,623	I	See footnote(2)
Class A Common Stock	11/21/2025		S		920	D	$510.25(7)	2,995,703	I	See footnote(2)
Class A Common Stock	11/21/2025		S		600	D	$511.06(8)	2,995,103	I	See footnote(2)
Class A Common Stock	11/21/2025		S		920	D	$512.17(9)	2,994,183	I	See footnote(2)
Class A Common Stock	11/21/2025		S		440	D	$513.25(10)	2,993,743	I	See footnote(2)
Class A Common Stock	11/21/2025		S		760	D	$514.28(11)	2,992,983	I	See footnote(2)
Class A Common Stock	11/21/2025		S		1,479	D	$515.17(12)	2,991,504	I	See footnote(2)
Class A Common Stock	11/21/2025		S		804	D	$516.2(13)	2,990,700	I	See footnote(2)
Class A Common Stock	11/21/2025		S		248	D	$517.38(14)	2,990,452	I	See footnote(2)
Class A Common Stock	11/21/2025		S		244	D	$518.07(15)	2,990,208	I	See footnote(2)
Class A Common Stock	11/21/2025		S		560	D	$519.45(16)	2,989,648	I	See footnote(2)
Class A Common Stock	11/21/2025		S		1,142	D	$520.41(17)	2,988,506	I	See footnote(2)
Class A Common Stock	11/21/2025		S		560	D	$521.39(18)	2,987,946	I	See footnote(2)
Class A Common Stock	11/21/2025		S		720	D	$522.62(19)	2,987,226	I	See footnote(2)
Class A Common Stock	11/21/2025		S		840	D	$523.77(20)	2,986,386	I	See footnote(2)
Class A Common Stock	11/21/2025		S		1,520	D	$524.71(21)	2,984,866	I	See footnote(2)
Class A Common Stock	11/21/2025		S		1,049	D	$525.76(22)	2,983,817	I	See footnote(2)
Class A Common Stock	11/21/2025		S		480	D	$526.61(23)	2,983,337	I	See footnote(2)
Class A Common Stock	11/21/2025		S		200	D	$527.96(24)	2,983,137	I	See footnote(2)
Class A Common Stock	11/21/2025		S		120	D	$528.76(25)	2,983,017	I	See footnote(2)
Class A Common Stock								1,530,519	I	See footnote(26)
Class A Common Stock								780,519	I	See footnote(27)

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 $504.06 to $505.01. 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. 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.

3. The sales were executed in multiple trades at prices ranging from $505.17 to $506.11. 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 $506.29 to $507.14. 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 $507.42 to $508.33. 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 $508.615 to $509.54. 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 $509.65 to $510.645. 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 $510.70 to $511.69. 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 $511.70 to $512.69. 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 $512.7125 to $513.58. 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 $513.73 to $514.69. 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 $514.73 to $515.72. 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 $515.77 to $516.60. 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 $516.79 to $517.785. 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 $517.90 to $518.53. 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. The sales were executed in multiple trades at prices ranging from $518.955 to $519.945. 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.

17. The sales were executed in multiple trades at prices ranging from $519.975 to $520.97. 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.

18. The sales were executed in multiple trades at prices ranging from $520.985 to $521.855. 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.

19. The sales were executed in multiple trades at prices ranging from $522.14 to $523.04. 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.

20. The sales were executed in multiple trades at prices ranging from $523.28 to $524.21. 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.

21. The sales were executed in multiple trades at prices ranging from $524.28 to $525.27. 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.

22. The sales were executed in multiple trades at prices ranging from $525.35 to $526.28. 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.

23. The sales were executed in multiple trades at prices ranging from $526.38 to $527.07. 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.

24. The sales were executed in multiple trades at prices ranging from $527.41 to $528.37. 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.

25. The sales were executed in multiple trades at prices ranging from $528.68 to $528.82. 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.

26. 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.

27. 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 4 of 4

	/s/ Victoria Valenzuela, Attorney-in-fact	11/24/2025
	** 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

What insider transaction did AppLovin (APP) report in this Form 4?

The filing reports that AppLovin’s CEO, who is also a director and 10% owner, had an affiliated children’s trust sell multiple blocks of Class A common stock in open-market transactions on 11/21/2025.

At what prices were AppLovin (APP) shares sold in the reported transactions?

The reported sales were executed in multiple trades, with underlying prices ranging from $504.06 to $528.82 per share, and each line item shows a weighted average sale price for that block.

How many AppLovin shares did the reporting person indirectly hold after these sales?

After the reported transactions, one children’s trust is shown holding 2,983,017 AppLovin Class A shares indirectly, with separate trusts holding 1,530,519 and 780,519 Class A shares indirectly.

Who legally holds the AppLovin (APP) shares involved in this Form 4?

The shares are held by The JAF Children’s Trust, The WHK Trust, and The OD Trust for the benefit of the reporting person’s children, and are reported as indirect holdings.

Does the AppLovin insider admit beneficial ownership of the children’s trust shares?

No. The reporting person disclaims beneficial ownership of the shares held by the children’s trusts and states that the report is not an admission of beneficial ownership for Section 16 or any other purpose.

What does it mean that prices are reported as weighted averages in the AppLovin Form 4?

For each sale line, the price shown is a weighted average sale price across multiple trades within a stated price range, and the reporting person offers to provide detailed trade-level pricing information upon request.