Appfolio SEC Filings

Form 144 filed for AppFolio, Inc. (APPF) reports a proposed sale of 3,012 shares of Common Class A stock through broker The Charles Schwab Corporation with an aggregate market value of $798,120.00. The filing lists the number of shares outstanding as 22,871,704 and an approximate sale date of 08/15/2025. The shares were acquired as RSUs & PSUs with acquisition dates covering 12/13/2021–01/24/2024, and the specific acquisition date shown is 12/13/2021. The filer indicates no securities sold in the past three months and includes the standard representation that the seller is not aware of undisclosed material adverse information.

Ashe Capital Management, LP reports beneficial ownership of 1,331,260 shares of AppFolio Inc. Class A common stock, representing 5.8% of the class based on 22,871,704 shares outstanding. Ashe, a Delaware limited partnership and registered investment adviser, states it holds these shares in funds under its management and control and has sole voting and dispositive power over the reported shares. The filing includes a certification that the securities were acquired and are held in the ordinary course of business and were not acquired to change or influence control of the issuer.

Maurice J. Duca, a director of AppFolio (APPF), sold a total of 4,824 Class A shares on 08/12/2025 pursuant to a pre-established 10b5-1 trading plan adopted on December 13, 2024. The sales were executed in multiple transactions with weighted-average prices reported by lot between about $275.05 and $281.05; the footnotes disclose transaction price ranges from $275.00 to $281.07 and offer to provide detailed per-price breakdowns on request.

The filing shows Duca retains both direct and indirect holdings disclosed in the Form: several direct-holding lines appear (for example, a reported direct holding of 65,795 shares in one line), and substantial indirect holdings are held by a pension trust (35,376 shares) and IGSB-managed entities (26,667; 142,857; 9,805 shares). The filing also states that the reporting person disclaims beneficial ownership of certain LLC-held shares except for any pecuniary interest, and that the pension trust shares are controlled by him as sole trustee though he asserts no pecuniary interest in those trust-held shares.

Maurice J. Duca, a director of AppFolio, reported multiple sales of Class A common stock executed on 08/11/2025 under a pre-established 10b5-1 trading plan adopted on December 13, 2024. The reported transactions total 5,600 shares sold across a series of trades at prices reported in footnotes spanning approximately $279.62 to $289.30. After the transactions, the filing shows 68,295 shares held directly. The filing also discloses meaningful indirect holdings: family trust and pension trust positions and ownership by related IGSB entities, including 142,857 shares held by IGSB Gaucho Fund I, LLC. The pension trust shares are held by a trust for which Duca is sole trustee but for which he disclaims pecuniary interest.

AppFolio director Maurice J. Duca reported multiple dispositions of Class A common stock on 08/08/2025 executed pursuant to a pre-existing 10b5-1 trading plan adopted December 13, 2024. The Form 4 lists individual sales in multiple tranches (including 500, 100, 1,200, 400, 300, 200, 300, 702, 98, 200, 300, 200, 100, 700, 100 and 200 shares) with weighted-average prices and per-footnote price ranges that fall roughly between $283.21 and $290.59. The filing also discloses indirect holdings through affiliated entities and trusts, including IGSB Gaucho Fund I, LLC (142,857 shares), IGSB Cardinal I, LLC (26,667 shares), and IGSB Cardinal Core BV, LLC (9,805 shares), plus Class A shares held in a pension trust for which Duca is sole trustee but has no pecuniary interest. Footnotes state the reporter will provide transaction-level price details on request.

Matthew S. Mazza, Chief Trust Officer and director of AppFolio, had multiple equity awards vest on 08/10/2025 that triggered share withholding to satisfy tax obligations. The issuer withheld a total of 1,071 shares of Class A Common Stock at a per-share amount of $283.36. Following these withholdings, the reporting person beneficially owned 28,015 shares of Class A Common Stock.

The withheld shares related to performance-based restricted stock units and time-based restricted stock units granted under the Issuer's 2015 Stock Incentive Plan and the 2025 Omnibus Plan on the grant dates specified in the filing.

William Shane Trigg, who serves as both a Director and the Chief Executive Officer of AppFolio, Inc. (APPF), reported a series of withholdings on 08/10/2025 to satisfy minimum tax withholding obligations arising when equity awards vested. A total of 4,079 Class A shares were withheld across seven award tranches at a reported per-share amount of $283.36. The withholding events related to vested performance-based restricted stock units (PSUs) and time-based restricted stock units (RSUs) granted on various dates in 2021, 2023, 2024 and 2025. Following the reported transactions the filing shows beneficial ownership of 66,568 Class A shares. The Form 4 was signed by an attorney-in-fact on 08/12/2025.

AppFolio Chief Financial Officer Timothy Mathias Eaton reported that the company withheld shares to satisfy tax withholding obligations when restricted stock units vested on 08/10/2025. The filing lists seven withholdings of Class A common stock of 19, 29, 25, 53, 50, 88 and 113 shares tied to RSU grants made under the Issuer's 2015 Stock Incentive Plan and 2025 Omnibus Plan on the grant dates shown in the filing.

The filing records a per-share price of $283.36 for the reported transactions and a total of 377 shares withheld (approximately $106,827). Following these reported transactions, the reported beneficial ownership amounts shown in the filing end at 11,809 shares for the reporting person.

Elizabeth E. Barat, Chief People Officer of AppFolio (APPF), reported changes in her beneficial ownership following the vesting of equity awards on 08/10/2025. The Form 4 records multiple share-withholdings by the issuer to satisfy tax obligations tied to vested PSUs and RSUs.

The issuer withheld 270, 183, 110, 146, 88, 85, 45 and 102 Class A shares from separate grants, totaling 1,029 shares withheld at a reported per-share amount of $283.36. After these transactions Ms. Barat directly beneficially owned 16,897 Class A shares.