AppLovin (APP) CEO reports large Class A stock disposals across Aug 20–21, 2025

Rhea-AI Filing Summary

Arash Foroughi, CEO & Chairperson of AppLovin Corp (APP), reported multiple sales of Class A common stock on August 20 and August 21, 2025. The Form 4 lists many discrete sell transactions (codes "S") executed at weighted-average prices ranging roughly from $401 to $431 per share. Some shares sold are noted as represented by Restricted Stock Units (RSUs). The filing also discloses shares held in trusts for the reporting person’s children and includes disclaimers that the reporting person disclaims beneficial ownership of those trust-held shares. The report was signed by an attorney-in-fact on behalf of the reporting person.

Positive

• Timely and detailed disclosure of multiple transactions on Form 4, including weighted-average sale prices and explanatory footnotes.
• Trust and RSU disclosures clarify that some shares are held for beneficiaries and that certain securities represent Restricted Stock Units.

Negative

• Substantial insider sales by the CEO and 10% owner across August 20–21, 2025, which may be viewed as material by investors.
• No explanation provided in the filing for the disposals (no stated Rule 10b5-1 trading plan or rationale).

Insights

Financial Analyst

TL;DR: CEO executed a series of sizeable sales across two days at prices ~$401–$431; material volume but routine disclosure compliance.

The Form 4 shows extensive disposal activity by the CEO and 10% owner across August 20–21, 2025, with multiple trades reported at progressively higher weighted-average prices. The disclosures identify that some remaining securities are RSUs and that other shares are held in trusts for the reporting person’s children with disclaimers of beneficial ownership. From an investor monitoring perspective, the filing is significant because insider sales of this magnitude by a senior executive can change perceived insider alignment, but the document itself does not provide reasons for the sales or indicate any company operational changes.

Corporate Governance Expert

TL;DR: Filing demonstrates formal compliance with Section 16 reporting; trusts and disclaimers explicitly noted.

The Form 4 is detailed in reporting numerous discrete transactions and includes customary explanatory footnotes about weighted-average prices and trust holdings. The filing identifies the reporting person’s roles (Director, CEO, Chairperson, 10% owner) and provides standard disclaimers for trust-held shares. Procedurally, the report appears complete and signed by an attorney-in-fact, indicating attention to SEC reporting obligations. The form does not include any information on trading plans (e.g., Rule 10b5-1) or motivations for the dispositions.

Insider Trade Summary

Net Seller: 90,927 shares ($38,276,071)

Net Sell 30 txns

Insider Foroughi Arash Adam

Role CEO & Chairperson

Sold 90,927 shs ($38.28M)

Type	Security	Shares	Price	Value
Sale	Class A Common Stock	800	$412.82	$330K
Sale	Class A Common Stock	500	$414.12	$207K
Sale	Class A Common Stock	300	$415.05	$125K
Sale	Class A Common Stock	2,500	$416.17	$1.04M
Sale	Class A Common Stock	5,408	$417.21	$2.26M
Sale	Class A Common Stock	24,844	$418.21	$10.39M
Sale	Class A Common Stock	17,923	$418.99	$7.51M
Sale	Class A Common Stock	5,319	$420.14	$2.23M
Sale	Class A Common Stock	4,488	$421.12	$1.89M
Sale	Class A Common Stock	3,256	$422.05	$1.37M
Sale	Class A Common Stock	878	$423.37	$372K
Sale	Class A Common Stock	2,832	$424.15	$1.20M
Sale	Class A Common Stock	4,283	$425.18	$1.82M
Sale	Class A Common Stock	3,077	$426.05	$1.31M
Sale	Class A Common Stock	1,803	$427.23	$770K
Sale	Class A Common Stock	4,403	$428.18	$1.89M
Sale	Class A Common Stock	3,497	$429.20	$1.50M
Sale	Class A Common Stock	2,347	$430.37	$1.01M
Sale	Class A Common Stock	1,542	$431.33	$665K
Conversion	Class A Common Stock	775	$0.00	--
Sale	Class A Common Stock	370	$420.18	$155K
Sale	Class A Common Stock	108	$412.07	$45K
Sale	Class A Common Stock	22	$393.34	$9K
Sale	Class A Common Stock	22	$396.47	$9K
Sale	Class A Common Stock	44	$401.10	$18K
Sale	Class A Common Stock	88	$406.25	$36K
Sale	Class A Common Stock	112	$407.43	$46K
Sale	Class A Common Stock	44	$408.39	$18K
Sale	Class A Common Stock	44	$410.66	$18K
Sale	Class A Common Stock	73	$411.89	$30K

Holdings After Transaction: Class A Common Stock — 2,709,254 shares (Direct); Class A Common Stock — 775 shares (Indirect, See footnote)

Footnotes (1)

1. The sales were executed in multiple trades at prices ranging from $411.84 to $412.34. 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. The sales were executed in multiple trades at prices ranging from $412.43 to $413.05. 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. Certain of these securities are represented by Restricted Stock Units ("RSUs"). The sales were executed in multiple trades at prices ranging from $413.54 to $414.34. 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. The sales were executed in multiple trades at prices ranging from $414.55 to $415.30. 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. The sales were executed in multiple trades at prices ranging from $415.64 to $416.61. 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. The sales were executed in multiple trades at prices ranging from $416.64 to $417.63. 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. The sales were executed in multiple trades at prices ranging from $417.64 to $418.63. 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. The sales were executed in multiple trades at prices ranging from $418.64 to $419.60. 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. The sales were executed in multiple trades at prices ranging from $419.64 to $420.61. 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. The sales were executed in multiple trades at prices ranging from $420.64 to $421.63. 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. 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. The sales were executed in multiple trades at prices ranging from $421.64 to $422.59. 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. The sales were executed in multiple trades at prices ranging from $422.66 to $423.65. 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. The sales were executed in multiple trades at prices ranging from $423.66 to $424.65. 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. The sales were executed in multiple trades at prices ranging from $424.66 to $425.65. 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. The sales were executed in multiple trades at prices ranging from $425.67 to $426.57. 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. The sales were executed in multiple trades at prices ranging from $426.69 to $427.68. 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. The sales were executed in multiple trades at prices ranging from $427.77 to $428.75. 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. The sales were executed in multiple trades at prices ranging from $428.77 to $429.76. 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. The sales were executed in multiple trades at prices ranging from $429.83 to $430.77. 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. The sales were executed in multiple trades at prices ranging from $430.84 to $431.61. 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. Shares are held by The WHK Trust for the benefit of the Reporting Persons 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. Shares are held by DLF 2020 LLC 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. The sales were executed in multiple trades at prices ranging from $419.72 to $420.49. 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. The sales were executed in multiple trades at prices ranging from $401.02 to $401.18. 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. The sales were executed in multiple trades at prices ranging from $405.83 to $406.57. 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. The sales were executed in multiple trades at prices ranging from $407.01 to $407.83. 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. The sales were executed in multiple trades at prices ranging from $408.05 to $408.72. 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. The sales were executed in multiple trades at prices ranging from $410.22 to $411.10. 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. The sales were executed in multiple trades at prices ranging from $411.30 to $412.23. 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.

Form 4 Insider Transactions: What Each Field Means →

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)
08/20/2025

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	08/20/2025		S		108	D	$412.07(1)	780,550	I	See footnote(2)
Class A Common Stock	08/20/2025		S		22	D	$393.34	1,530,978	I	See footnote(3)
Class A Common Stock	08/20/2025		S		22	D	$396.47	1,530,956	I	See footnote(3)
Class A Common Stock	08/20/2025		S		44	D	$401.1(4)	1,530,912	I	See footnote(3)
Class A Common Stock	08/20/2025		S		88	D	$406.25(5)	1,530,824	I	See footnote(3)
Class A Common Stock	08/20/2025		S		112	D	$407.43(6)	1,530,712	I	See footnote(3)
Class A Common Stock	08/20/2025		S		44	D	$408.39(7)	1,530,668	I	See footnote(3)
Class A Common Stock	08/20/2025		S		44	D	$410.66(8)	1,530,624	I	See footnote(3)
Class A Common Stock	08/20/2025		S		73	D	$411.89(9)	1,530,551	I	See footnote(3)
Class A Common Stock	08/21/2025		S		800	D	$412.82(10)	2,709,254(11)	D
Class A Common Stock	08/21/2025		S		500	D	$414.12(12)	2,708,754(11)	D
Class A Common Stock	08/21/2025		S		300	D	$415.05(13)	2,708,454(11)	D
Class A Common Stock	08/21/2025		S		2,500	D	$416.17(14)	2,705,954(11)	D
Class A Common Stock	08/21/2025		S		5,408	D	$417.21(15)	2,700,546(11)	D
Class A Common Stock	08/21/2025		S		24,844	D	$418.21(16)	2,675,702(11)	D
Class A Common Stock	08/21/2025		S		17,923	D	$418.99(17)	2,657,779(11)	D
Class A Common Stock	08/21/2025		S		5,319	D	$420.14(18)	2,652,460(11)	D
Class A Common Stock	08/21/2025		S		4,488	D	$421.12(19)	2,647,972(11)	D
Class A Common Stock	08/21/2025		S		3,256	D	$422.05(20)	2,644,716(11)	D
Class A Common Stock	08/21/2025		S		878	D	$423.37(21)	2,643,838(11)	D
Class A Common Stock	08/21/2025		S		2,832	D	$424.15(22)	2,641,006(11)	D
Class A Common Stock	08/21/2025		S		4,283	D	$425.18(23)	2,636,723(11)	D
Class A Common Stock	08/21/2025		S		3,077	D	$426.05(24)	2,633,646(11)	D
Class A Common Stock	08/21/2025		S		1,803	D	$427.23(25)	2,631,843(11)	D
Class A Common Stock	08/21/2025		S		4,403	D	$428.18(26)	2,627,440(11)	D
Class A Common Stock	08/21/2025		S		3,497	D	$429.2(27)	2,623,943(11)	D
Class A Common Stock	08/21/2025		S		2,347	D	$430.37(28)	2,621,596(11)	D
Class A Common Stock	08/21/2025		S		1,542	D	$431.33(29)	2,620,054(11)	D
Class A Common Stock	08/21/2025		C		775	A	$0.00	775	I	See footnote(30)
Class A Common Stock	08/21/2025		S		370	D	$420.18(31)	405	I	See footnote(30)

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 $411.84 to $412.34. 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 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.

3. Shares are held by The WHK Trust for the benefit of the Reporting Persons 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.

4. The sales were executed in multiple trades at prices ranging from $401.02 to $401.18. 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 $405.83 to $406.57. 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 $407.01 to $407.83. 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 $408.05 to $408.72. 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.

8. The sales were executed in multiple trades at prices ranging from $410.22 to $411.10. 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 $411.30 to $412.23. 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 $412.43 to $413.05. 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. Certain of these securities are represented by Restricted Stock Units ("RSUs").

12. The sales were executed in multiple trades at prices ranging from $413.54 to $414.34. 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 $414.55 to $415.30. 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 $415.64 to $416.61. 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 $416.64 to $417.63. 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 $417.64 to $418.63. 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 $418.64 to $419.60. 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.

18. The sales were executed in multiple trades at prices ranging from $419.64 to $420.61. 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 $420.64 to $421.63. 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 $421.64 to $422.59. 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 $422.66 to $423.65. 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 $423.66 to $424.65. 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 $424.66 to $425.65. 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 $425.67 to $426.57. 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 $426.69 to $427.68. 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. The sales were executed in multiple trades at prices ranging from $427.77 to $428.75. 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.

27. The sales were executed in multiple trades at prices ranging from $428.77 to $429.76. 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.

28. The sales were executed in multiple trades at prices ranging from $429.83 to $430.77. 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.

29. The sales were executed in multiple trades at prices ranging from $430.84 to $431.61. 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.

30. Shares are held by DLF 2020 LLC 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.

31. The sales were executed in multiple trades at prices ranging from $419.72 to $420.49. 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.

Remarks:

Form 5 of 7

	/s/ Victoria Valenzuela, Attorney-in-fact	08/22/2025
	** 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 did Arash Foroughi report on the Form 4 for APP?

The Form 4 reports multiple sales of Class A common stock on August 20 and August 21, 2025 at weighted-average prices ranging roughly from $401 to $431 per share.

What positions does the reporting person hold at AppLovin (APP)?

The filing identifies Arash Foroughi as a Director, CEO & Chairperson, and a 10% owner of AppLovin.

Are any of the reported shares subject to special holdings or disclaimers?

Yes. The filing notes that some shares are held in trusts for the reporting person’s children and that the reporting person disclaims beneficial ownershipRSUs.

Does the Form 4 explain why the shares were sold?

No. The Form 4 provides transaction details and pricing footnotes but does not state a reason

Who signed the Form 4 and when?

The Form was signed by Victoria Valenzuela, Attorney-in-fact on 08/22/2025 on behalf of the reporting person.