APP insider filings: Foroughi sells shares and records RSU acquisitions at $0.00

Rhea-AI Filing Summary

Applovin Corp (APP) director and CEO & Chairperson Arash Foroughi reported multiple transactions in Class A common stock on 08/21/2025 and 08/22/2025. The filing lists numerous sales executed in multiple trades at prices generally in the $414–$431 range and several acquisitions recorded as “C” (conversion/vesting) of 774–776 shares at $0.00, indicating issuance or vesting of restricted stock units. Many shares are held indirectly for the benefit of the reporting person’s children through multiple LLCs and trusts; the reporting person disclaims beneficial ownership of those holdings. The form states the reporting person will provide price-by-price details on request.

Positive

• RSU conversions/acquisitions documented: Multiple “C” transactions show acquisition of 774–776 shares at $0.00, indicating vesting/issuance of equity
• Detailed disclosures and price ranges: The filer provides weighted-average sale price ranges and offers to supply per-trade details on request

Negative

• Material insider sales: Numerous sales across 08/21–08/22/2025 at prices between approximately $414 and $431 reduce direct holdings
• Substantial indirect holdings held by family entities: Multiple LLCs and trusts hold large amounts where the reporting person disclaims beneficial ownership, which may complicate assessment of true beneficial control

Insights

Securities Analyst

TL;DR: Multiple block sales alongside issuance/vesting of RSUs; routine insider liquidity rather than a single large disposition.

The transactions consist of several small-to-mid sized sales across two days with weighted average sale prices disclosed in ranges from roughly $414 to $431. Simultaneously, the reporting person recorded multiple “C” transactions acquiring 774–776 shares at $0.00, described as RSU-related. The mix of sales and acquisitions suggests scheduled or tax/liquidity-driven dispositions and standard vesting activity. Holdings are largely held indirectly in family trusts/LLCs, with disclaimers of beneficial ownership for those entities.

Corporate Governance Expert

TL;DR: Disclosure is detailed and compliant; significant indirect holdings are structured through family entities with disclaimers.

The filing provides transaction-level explanations and numerous footnotes documenting indirect ownership via multiple family trusts and LLCs. The reporting person expressly disclaims beneficial ownership of shares held for beneficiaries. The note that the filer will provide per-trade details on request supports transparency. This appears to be an ordinary Section 16 filing reflecting personal liquidity and RSU vesting rather than a governance event.

Insider Trade Summary

Net Seller: 7,401 shares ($3,108,170)

Net Sell 30 txns

Insider Foroughi Arash Adam

Role CEO & Chairperson

Sold 7,401 shs ($3.11M)

Type	Security	Shares	Price	Value
Sale	Class A Common Stock	100	$412.91	$41K
Sale	Class A Common Stock	700	$414.91	$290K
Sale	Class A Common Stock	1,100	$415.82	$457K
Sale	Class A Common Stock	200	$417.46	$83K
Sale	Class A Common Stock	600	$418.72	$251K
Sale	Class A Common Stock	700	$420.20	$294K
Sale	Class A Common Stock	100	$424.13	$42K
Sale	Class A Common Stock	300	$427.83	$128K
Sale	Class A Common Stock	255	$421.22	$107K
Sale	Class A Common Stock	77	$421.94	$32K
Sale	Class A Common Stock	73	$427.94	$31K
Conversion	Class A Common Stock	776	$0.00	--
Sale	Class A Common Stock	419	$420.32	$176K
Sale	Class A Common Stock	284	$421.39	$120K
Sale	Class A Common Stock	73	$429.53	$31K
Conversion	Class A Common Stock	775	$0.00	--
Sale	Class A Common Stock	303	$420.23	$127K
Sale	Class A Common Stock	400	$421.74	$169K
Sale	Class A Common Stock	72	$430.44	$31K
Conversion	Class A Common Stock	774	$0.00	--
Sale	Class A Common Stock	202	$420.09	$85K
Sale	Class A Common Stock	500	$421.68	$211K
Sale	Class A Common Stock	72	$430.91	$31K
Conversion	Class A Common Stock	776	$0.00	--
Sale	Class A Common Stock	303	$420.10	$127K
Sale	Class A Common Stock	400	$421.66	$169K
Sale	Class A Common Stock	73	$430.88	$31K
Sale	Class A Common Stock	32	$420.70	$13K
Sale	Class A Common Stock	31	$420.81	$13K
Sale	Class A Common Stock	32	$421.02	$13K

Holdings After Transaction: Class A Common Stock — 2,619,954 shares (Direct); Class A Common Stock — 150 shares (Indirect, See footnote)

Footnotes (1)

1. The sales were executed in multiple trades at prices ranging from $420.77 to $421.72. 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. 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. Shares are held by HDF 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 $419.73 to $420.56. 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 $420.91 to $421.51. 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 KMF 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 $419.64 to $420.52. 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 $421.46 to $422.10. 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 $430.42 to $430.52. 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 OHF 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 $420.46. 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 $421.41 to $422.10. 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. Shares are held by WNF 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 $420.66. 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 $421.43 to $421.92. 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 $430.87 to $430.88. 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 $420.65 to $420.71. 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 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. The sales were executed in multiple trades at prices ranging from $420.77 to $420.84. 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. 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 $420.97 to $421.06. 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. Certain of these securities are represented by Restricted Stock Units ("RSUs"). The sales were executed in multiple trades at prices ranging from $414.42 to $415.33. 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. The sales were executed in multiple trades at prices ranging from $415.53 to $416.26. 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 $416.99 to $417.93. 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 $418.32 to $418.88. 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 $419.58 to $420.55. 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 $427.58 to $428.33. 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.

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)
08/21/2025

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	08/21/2025		S		255	D	$421.22(1)	150	I	See footnote(2)
Class A Common Stock	08/21/2025		S		77	D	$421.94	73	I	See footnote(2)
Class A Common Stock	08/21/2025		S		73	D	$427.94	0.00	I	See footnote(2)
Class A Common Stock	08/21/2025		C		776	A	$0.00	776	I	See footnote(3)
Class A Common Stock	08/21/2025		S		419	D	$420.32(4)	357	I	See footnote(3)
Class A Common Stock	08/21/2025		S		284	D	$421.39(5)	73	I	See footnote(3)
Class A Common Stock	08/21/2025		S		73	D	$429.53	0.00	I	See footnote(3)
Class A Common Stock	08/21/2025		C		775	A	$0.00	775	I	See footnote(6)
Class A Common Stock	08/21/2025		S		303	D	$420.23(7)	472	I	See footnote(6)
Class A Common Stock	08/21/2025		S		400	D	$421.74(8)	72	I	See footnote(6)
Class A Common Stock	08/21/2025		S		72	D	$430.44(9)	0.00	I	See footnote(6)
Class A Common Stock	08/21/2025		C		774	A	$0.00	774	I	See footnote(10)
Class A Common Stock	08/21/2025		S		202	D	$420.09(11)	572	I	See footnote(10)
Class A Common Stock	08/21/2025		S		500	D	$421.68(12)	72	I	See footnote(10)
Class A Common Stock	08/21/2025		S		72	D	$430.91	0.00	I	See footnote(10)
Class A Common Stock	08/21/2025		C		776	A	$0.00	776	I	See footnote(13)
Class A Common Stock	08/21/2025		S		303	D	$420.1(14)	473	I	See footnote(13)
Class A Common Stock	08/21/2025		S		400	D	$421.66(15)	73	I	See footnote(13)
Class A Common Stock	08/21/2025		S		73	D	$430.88(16)	0.00	I	See footnote(13)
Class A Common Stock	08/21/2025		S		32	D	$420.7(17)	3,030,517	I	See footnote(18)
Class A Common Stock	08/21/2025		S		31	D	$420.81(19)	780,519	I	See footnote(20)
Class A Common Stock	08/21/2025		S		32	D	$421.02(21)	1,530,519	I	See footnote(22)
Class A Common Stock	08/22/2025		S		100	D	$412.91	2,619,954(23)	D
Class A Common Stock	08/22/2025		S		700	D	$414.91(24)	2,619,254(23)	D
Class A Common Stock	08/22/2025		S		1,100	D	$415.82(25)	2,618,154(23)	D
Class A Common Stock	08/22/2025		S		200	D	$417.46(26)	2,617,954(23)	D
Class A Common Stock	08/22/2025		S		600	D	$418.72(27)	2,617,354(23)	D
Class A Common Stock	08/22/2025		S		700	D	$420.2(28)	2,616,654(23)	D
Class A Common Stock	08/22/2025		S		100	D	$424.13	2,616,554(23)	D
Class A Common Stock	08/22/2025		S		300	D	$427.83(29)	2,616,254(23)	D

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 $420.77 to $421.72. 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.

2. 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.

3. Shares are held by HDF 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.

4. The sales were executed in multiple trades at prices ranging from $419.73 to $420.56. 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 $420.91 to $421.51. 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. Shares are held by KMF 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.

7. The sales were executed in multiple trades at prices ranging from $419.64 to $420.52. 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 $421.46 to $422.10. 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 $430.42 to $430.52. 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. Shares are held by OHF 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.

11. The sales were executed in multiple trades at prices ranging from $419.72 to $420.46. 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 $421.41 to $422.10. 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.

13. Shares are held by WNF 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.

14. The sales were executed in multiple trades at prices ranging from $419.72 to $420.66. 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 $421.43 to $421.92. 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 $430.87 to $430.88. 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 $420.65 to $420.71. 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. 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.

19. The sales were executed in multiple trades at prices ranging from $420.77 to $420.84. 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.

20. 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.

21. The sales were executed in multiple trades at prices ranging from $420.97 to $421.06. 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. 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.

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

24. The sales were executed in multiple trades at prices ranging from $414.42 to $415.33. 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.

25. The sales were executed in multiple trades at prices ranging from $415.53 to $416.26. 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 $416.99 to $417.93. 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 $418.32 to $418.88. 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 $419.58 to $420.55. 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 $427.58 to $428.33. 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.

Remarks:

Form 6 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 transactions did Arash Foroughi report for APP on this Form 4?

The Form 4 reports numerous sales of Class A common stock on 08/21/2025 and 08/22/2025 at weighted-average prices generally between $414 and $431, plus multiple acquisitions (conversion/vesting) of 774–776 shares at $0.00 each.

Do the filings show Foroughi still holds APP shares after these transactions?

Yes. The report lists remaining beneficial ownership amounts after each transaction and shows substantial holdings held indirectly by family trusts and LLCs, although the reporting person disclaims beneficial ownership of those entities' shares.

Are the acquired shares paid for in cash?

No. The acquisitions labeled ‘C’ are reported at a price of $0.00, indicating issuance or vesting (e.g., RSUs), not cash purchases.

Does the Form 4 provide full per-trade sale prices?

The filing provides weighted-average prices and price ranges in footnotes and states the reporting person will provide full per-trade details upon request by the SEC, issuer, or a security holder.

Are any shares held for beneficiaries?

Yes. Multiple footnotes indicate shares are held by LLCs and trusts for the benefit of the reporting person’s children, with disclaimers of beneficial ownership by the reporting person.