APP Form 4: Foroughi converts 10,428 shares and executes multi-tranche sales

Rhea-AI Filing Summary

Applovin Corp (APP) Form 4 summary: The filing shows that Arash Foroughi, CEO & Chairperson, executed a large series of transactions on 08/20/2025 involving Class A common stock. The report records a conversion of 10,428 Class A shares at $0.00 and numerous sales executed the same day in multiple tranches at prices ranging roughly from $386.12 to $412.46 (reported as weighted averages). After the reported transactions the table shows the Reporting Persons beneficial ownership for the reported holdings at 3,097 Class A shares (held indirectly) for the entities identified in the footnotes. The filing discloses that certain shares are held by family LLCs and that the Reporting Person disclaims beneficial ownership of those shares.

Positive

• Conversion disclosed of 10,428 Class A shares at $0.00, recorded transparently in the filing
• Detailed tranche-level disclosure with weighted-average prices and footnotes offering to provide per-trade breakdowns on request

Negative

• Extensive insider sales on 08/20/2025 across many tranches that reduced reported indirect holdings to 3,097 Class A shares
• Significant disposition activity by the CEO & Chairperson could be viewed as notable given leadership role

Insights

Financial Analyst

TL;DR: Insider executed a large block conversion and extensive same-day sales, materially reducing reported indirect holdings to 3,097 Class A shares.

The Form 4 documents a conversion of 10,428 Class A shares at no purchase price and a sequence of sales on 08/20/2025 recorded as multiple tranches with weighted-average prices between approximately $386 and $412 per share. The table reports the Reporting Persons indirect beneficial ownership after these transactions as 3,097 Class A shares. The filing identifies holdings through HDF 2020 LLC and KMF 2020 LLC for the benefit of the Reporting Persons children and includes standard disclaimers. For investors, the filing provides precise transaction dates, tranche sizes, and weighted-average prices but does not state the aggregate proceeds; those can be computed from the detailed trade lines if needed.

Corporate Governance Expert

TL;DR: CEO and Chairperson reported substantial same-day dispositions following a conversion, with family LLC holdings and disclaimers disclosed.

The report shows the Reporting Person acting as CEO & Chairperson and as a 10% owner, filing as an individual reporting person. Footnotes disclose that certain shares are held in family LLCs for the benefit of the Reporting Persons children and that the Reporting Person disclaims beneficial ownership of those LLC-held shares. The Form includes attorney-in-fact signature and customary footnote language committing to provide trade-level details on request. The filing is procedurally complete and transparently discloses indirect ownership structures and multiple weighted-average sale prices for the days trades.

SEC Form 4

FORM 4

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

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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

OMB APPROVAL

OMB Number:			3235-0287
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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		100	D	$396.64	8,229	I	See footnote(1)
Class A Common Stock	08/20/2025		S		200	D	$398.63(2)	8,029	I	See footnote(1)
Class A Common Stock	08/20/2025		S		100	D	$399.89	7,929	I	See footnote(1)
Class A Common Stock	08/20/2025		S		500	D	$401.3(3)	7,429	I	See footnote(1)
Class A Common Stock	08/20/2025		S		221	D	$403.07(4)	7,208	I	See footnote(1)
Class A Common Stock	08/20/2025		S		300	D	$404.17(5)	6,908	I	See footnote(1)
Class A Common Stock	08/20/2025		S		700	D	$405.69(6)	6,208	I	See footnote(1)
Class A Common Stock	08/20/2025		S		2,000	D	$406.68(7)	4,208	I	See footnote(1)
Class A Common Stock	08/20/2025		S		1,200	D	$407.57(8)	3,008	I	See footnote(1)
Class A Common Stock	08/20/2025		S		600	D	$409.17(9)	2,408	I	See footnote(1)
Class A Common Stock	08/20/2025		S		818	D	$411.04(10)	1,590	I	See footnote(1)
Class A Common Stock	08/20/2025		S		1,390	D	$412.07(11)	200	I	See footnote(1)
Class A Common Stock	08/20/2025		S		200	D	$412.42(12)	0.00	I	See footnote(1)
Class A Common Stock	08/20/2025		C		10,428	A	$0.00	10,428	I	See footnote(13)
Class A Common Stock	08/20/2025		S		400	D	$386.42(14)	10,028	I	See footnote(13)
Class A Common Stock	08/20/2025		S		100	D	$387.94	9,928	I	See footnote(13)
Class A Common Stock	08/20/2025		S		200	D	$389.51(15)	9,728	I	See footnote(13)
Class A Common Stock	08/20/2025		S		300	D	$391.47(16)	9,428	I	See footnote(13)
Class A Common Stock	08/20/2025		S		690	D	$392.57(17)	8,738	I	See footnote(13)
Class A Common Stock	08/20/2025		S		170	D	$393.5(18)	8,568	I	See footnote(13)
Class A Common Stock	08/20/2025		S		200	D	$394.95(19)	8,368	I	See footnote(13)
Class A Common Stock	08/20/2025		S		100	D	$396.19	8,268	I	See footnote(13)
Class A Common Stock	08/20/2025		S		300	D	$398.93(20)	7,968	I	See footnote(13)
Class A Common Stock	08/20/2025		S		400	D	$400.9(21)	7,568	I	See footnote(13)
Class A Common Stock	08/20/2025		S		282	D	$402.24(22)	7,286	I	See footnote(13)
Class A Common Stock	08/20/2025		S		300	D	$403.78(23)	6,986	I	See footnote(13)
Class A Common Stock	08/20/2025		S		500	D	$405.26(24)	6,486	I	See footnote(13)
Class A Common Stock	08/20/2025		S		1,100	D	$406.38(25)	5,386	I	See footnote(13)
Class A Common Stock	08/20/2025		S		1,789	D	$407.29(26)	3,597	I	See footnote(13)
Class A Common Stock	08/20/2025		S		500	D	$408.27(27)	3,097	I	See footnote(13)

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. 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.

2. The sales were executed in multiple trades at prices ranging from $398.27 to $398.98. 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.

3. The sales were executed in multiple trades at prices ranging from $400.96 to $401.58. 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.

4. The sales were executed in multiple trades at prices ranging from $402.62 to $403.47. 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 $403.94 to $404.60. 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.

6. The sales were executed in multiple trades at prices ranging from $404.98 to $405.93. 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.

7. The sales were executed in multiple trades at prices ranging from $406.18 to $407.17. 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.

8. The sales were executed in multiple trades at prices ranging from $407.19 to $408.13. 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 $408.87 to $409.82. 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.

10. The sales were executed in multiple trades at prices ranging from $410.37 to $411.36. 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 $411.37 to $412.24. 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 $412.38 to $412.46. 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.

13. 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.

14. The sales were executed in multiple trades at prices ranging from $386.12 to $386.77. 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.

15. The sales were executed in multiple trades at prices ranging from $389.03 to $389.98. 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 $391.08 to $391.77. 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.

17. The sales were executed in multiple trades at prices ranging from $392.24 to $393.12. 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 $393.28 to $393.81. 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 $394.91 to $394.99. 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 $398.42 to $399.33. 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.

21. The sales were executed in multiple trades at prices ranging from $400.20 to $401.19. 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.

22. The sales were executed in multiple trades at prices ranging from $401.70 to $402.64. 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 $403.25 to $404.08. 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 $404.77 to $405.71. 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.

25. The sales were executed in multiple trades at prices ranging from $405.93 to $406.92. 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.

26. The sales were executed in multiple trades at prices ranging from $406.96 to $407.65. 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.

27. The sales were executed in multiple trades at prices ranging from $407.99 to $408.92. 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.

Remarks:

Form 2 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 Applovin (APP) insider Arash Foroughi report on 08/20/2025?

The filing shows a conversion of 10,428 Class A shares at $0.00 and multiple sales executed the same day in tranches with weighted-average prices roughly between $386.12 and $412.46.

How many Class A shares did the reporting person own after the transactions?

The table reports the Reporting Person's indirect beneficial ownership after the reported transactions as 3,097 Class A shares.

Were the sold shares held directly by the reporting person?

The filing indicates many shares are held by HDF 2020 LLC and KMF 2020 LLC for the benefit of the Reporting Person's children and includes disclaimers that the Reporting Person disclaims beneficial ownership of those LLC-held shares.

Are detailed per-trade sale prices available?

The Form reports weighted-average prices per tranche and footnotes state the sales were executed in multiple trades and that the Reporting Person will provide full per-trade details upon request by the SEC, the issuer, or a security holder.

Who signed the Form 4 filing for the reporting person?

The Form 4 is signed by Victoria Valenzuela, Attorney-in-fact on 08/22/2025 on behalf of the Reporting Person.