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APP Form 4: Foroughi Reduces Stake by 25,846 Shares in Multiple Trades

Filing Impact
(Very High)
Filing Sentiment
(Very Negative)
Form Type
4

Rhea-AI Filing Summary

Applovin Corp (APP) insider sale summary: Arash Adam Foroughi, CEO and Chairperson and a 10% owner, reported multiple open-market sales of Class A common stock on 08/22/2025. The filings show a sequence of sales that reduced his direct holdings from 2,615,900 shares to 2,590,054 shares, a net decrease of 25,846 shares.

Each sale transaction was executed in multiple trades at progressively higher prices across the day, with reported weighted-average prices for each block and disclosed price ranges from about $428.65 up to $446.20. Some of the reported shares are represented by Restricted Stock Units (RSUs). The Form 4 was signed by an attorney-in-fact on behalf of the reporting person.

Positive

  • Transparent disclosure of multiple sale blocks with weighted-average prices and intraday price ranges
  • Compliance with Section 16 filing requirements, including attorney-in-fact signature and explanatory remarks

Negative

  • Material insider disposition: CEO reduced direct beneficial ownership by 25,846 shares (from 2,615,900 to 2,590,054)
  • Concentration risk signal: a 10% owner and CEO selling a material block may be viewed negatively by some investors

Insights

TL;DR: CEO Foroughi sold 25,846 Class A shares on 08/22/2025 across multiple trades, reducing his direct stake; prices ranged broadly intraday.

The reported transaction is a clear, material insider disposition by the company CEO and 10% owner, decreasing direct beneficial ownership from 2,615,900 to 2,590,054 shares. The Form 4 documents numerous blocks sold at incremental weighted-average prices and discloses intraday price ranges for each block, which is typical for executed open-market sales. Inclusion of RSUs among the reported shares clarifies part of the composition of the holdings disposed.

TL;DR: Multiple scheduled open-market sales by the CEO were disclosed; filings provide trade-level price ranges and note RSU representation.

From a governance perspective, transparent reporting of multiple transactions with weighted-average prices and explicit price ranges complies with Section 16 disclosure norms. The Form 4 indicates the filing was executed by an attorney-in-fact and includes the required explanatory remarks. While the sale is material, the filing itself contains standard disclosures without additional governance qualifications or disclaimers.

Insider Foroughi Arash Adam
Role CEO & Chairperson
Sold 26,200 shs ($11.53M)
Type Security Shares Price Value
Sale Class A Common Stock 354 $428.93 $152K
Sale Class A Common Stock 400 $430.69 $172K
Sale Class A Common Stock 400 $431.87 $173K
Sale Class A Common Stock 300 $432.92 $130K
Sale Class A Common Stock 517 $434.09 $224K
Sale Class A Common Stock 200 $435.17 $87K
Sale Class A Common Stock 240 $436.39 $105K
Sale Class A Common Stock 1,266 $437.40 $554K
Sale Class A Common Stock 1,889 $438.54 $828K
Sale Class A Common Stock 2,100 $439.41 $923K
Sale Class A Common Stock 6,282 $440.47 $2.77M
Sale Class A Common Stock 6,434 $441.44 $2.84M
Sale Class A Common Stock 2,768 $442.41 $1.22M
Sale Class A Common Stock 1,950 $443.37 $865K
Sale Class A Common Stock 700 $444.81 $311K
Sale Class A Common Stock 400 $445.93 $178K
Holdings After Transaction: Class A Common Stock — 2,590,054 shares (Direct)
Footnotes (17)
  1. F1. The sales were executed in multiple trades at prices ranging from $428.65 to $429.43. 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. F2. Certain of these securities are represented by Restricted Stock Units ("RSUs").
  3. F3. The sales were executed in multiple trades at prices ranging from $430.23 to $431.17. 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. F4. The sales were executed in multiple trades at prices ranging from $431.49 to $432.17. 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. F5. The sales were executed in multiple trades at prices ranging from $432.55 to $433.19. 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. F6. The sales were executed in multiple trades at prices ranging from $433.66 to $434.46. 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.
  7. F7. The sales were executed in multiple trades at prices ranging from $434.67 to $435.66. 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.
  8. F8. The sales were executed in multiple trades at prices ranging from $435.88 to $436.86. 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.
  9. F9. The sales were executed in multiple trades at prices ranging from $436.91 to $437.78. 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. F10. The sales were executed in multiple trades at prices ranging from $437.93 to $438.89. 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. F11. The sales were executed in multiple trades at prices ranging from $438.95 to $439.87. 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. F12. The sales were executed in multiple trades at prices ranging from $439.95 to $440.91. 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. F13. The sales were executed in multiple trades at prices ranging from $440.95 to $441.94. 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. F14. The sales were executed in multiple trades at prices ranging from $441.95 to $442.91. 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. F15. The sales were executed in multiple trades at prices ranging from $443.00 to $443.82. 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.
  16. F16. The sales were executed in multiple trades at prices ranging from $444.39 to $445.21. 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.
  17. F17. The sales were executed in multiple trades at prices ranging from $445.56 to $446.20. 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.

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FAQ

What did Arash Adam Foroughi report on the Form 4 for APP?
The Form 4 reports multiple open-market sales of Class A common stock on 08/22/2025, reducing direct holdings from 2,615,900 to 2,590,054 shares.

How many shares did the CEO sell according to the filing for APP?
The filing shows a net reduction of 25,846 shares in direct beneficial ownership on 08/22/2025.

At what prices were the APP shares sold?
The reported weighted-average prices per sale block ranged across the day with disclosed intraday ranges from about $428.65 up to $446.20 for different trade blocks.

Are any of the sold shares RSUs according to the Form 4?
Yes. The filing explicitly notes that certain securities are represented by Restricted Stock Units (RSUs).

Who signed the Form 4 filing for APP?
The Form 4 was signed by Victoria Valenzuela, Attorney-in-fact on behalf of the reporting person on 08/22/2025.
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)
08/22/2025
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 08/22/2025 S 354 D $428.93(1) 2,615,900(2) D
Class A Common Stock 08/22/2025 S 400 D $430.69(3) 2,615,500(2) D
Class A Common Stock 08/22/2025 S 400 D $431.87(4) 2,615,100(2) D
Class A Common Stock 08/22/2025 S 300 D $432.92(5) 2,614,800(2) D
Class A Common Stock 08/22/2025 S 517 D $434.09(6) 2,614,283(2) D
Class A Common Stock 08/22/2025 S 200 D $435.17(7) 2,614,083(2) D
Class A Common Stock 08/22/2025 S 240 D $436.39(8) 2,613,843(2) D
Class A Common Stock 08/22/2025 S 1,266 D $437.4(9) 2,612,577(2) D
Class A Common Stock 08/22/2025 S 1,889 D $438.54(10) 2,610,688(2) D
Class A Common Stock 08/22/2025 S 2,100 D $439.41(11) 2,608,588(2) D
Class A Common Stock 08/22/2025 S 6,282 D $440.47(12) 2,602,306(2) D
Class A Common Stock 08/22/2025 S 6,434 D $441.44(13) 2,595,872(2) D
Class A Common Stock 08/22/2025 S 2,768 D $442.41(14) 2,593,104(2) D
Class A Common Stock 08/22/2025 S 1,950 D $443.37(15) 2,591,154(2) D
Class A Common Stock 08/22/2025 S 700 D $444.81(16) 2,590,454(2) D
Class A Common Stock 08/22/2025 S 400 D $445.93(17) 2,590,054(2) 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 $428.65 to $429.43. 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 $430.23 to $431.17. 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 $431.49 to $432.17. 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 $432.55 to $433.19. 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 $433.66 to $434.46. 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.
7. The sales were executed in multiple trades at prices ranging from $434.67 to $435.66. 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.
8. The sales were executed in multiple trades at prices ranging from $435.88 to $436.86. 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.
9. The sales were executed in multiple trades at prices ranging from $436.91 to $437.78. 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 $437.93 to $438.89. 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 $438.95 to $439.87. 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 $439.95 to $440.91. 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 $440.95 to $441.94. 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 $441.95 to $442.91. 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 $443.00 to $443.82. 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.
16. The sales were executed in multiple trades at prices ranging from $444.39 to $445.21. 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.
17. The sales were executed in multiple trades at prices ranging from $445.56 to $446.20. 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 7 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.

Source: View Original Filing on SEC EDGAR