APPF Insider Notice: 2,500 Class A Shares via Wells Fargo ($706.5K)

Rhea-AI Filing Summary

AppFolio, Inc. Form 144 notifies a proposed sale of 2,500 shares of Class A common stock through Wells Fargo Clearing Services with an aggregate market value of $706,525.19. The filing lists 22,871,704 shares outstanding and an approximate sale date of 09/08/2025 on Nasdaq. The shares to be sold were originally acquired as RSUs on 06/27/2016 (1,531 shares), 06/27/2017 (938 shares), and 06/27/2022 (31 shares).

The document does not provide the name of the filer or the issuer's identifying details in the visible fields, and it reports nothing to report for securities sold in the past three months. The filer certifies they know of no undisclosed material adverse information and references potential reliance on a Rule 10b5-1 plan but gives no plan date in the visible text.

Positive

• None.

Negative

• Missing filer and issuer identification in the visible fields, which limits transparency and verifiability.
• No plan adoption date provided

Insights

Securities Compliance Analyst

TL;DR: Routine Rule 144 notice for a modest RSU sale; key identification details are missing from the visible content.

The filing documents a proposed sale of 2,500 Class A shares via a registered broker and details the grant dates and quantities of the underlying RSUs. As a compliance disclosure, it appears procedural and consistent with Rule 144 timing requirements. However, the absence of the filer name/CIK and issuer name in the visible fields limits verification and tracking, which is important for investor transparency and regulatory monitoring.

Corporate Governance Expert

TL;DR: Disclosure of insider-derived RSUs being sold is standard; missing identifying information reduces transparency for stakeholders.

The schedule shows the holdings originated from company RSU grants across 2016–2022 and that no other sales occurred in the prior three months, suggesting this is an isolated planned disposition. From a governance standpoint, timely public notice is appropriate. The filing's value and broker are disclosed, but absence of filer and issuer identifiers in the presented text weakens the filing's utility for market participants assessing insider activity.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Class A common	Wells Fargo Clearing Services 1 North Jefferson Avenue St. Louis MO 63103	2500	706525.19	22871704	09/08/2025	Nasdaq

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Class A common	06/27/2016	RSUs	Issuer			1531	06/27/2016	N/A
Class A common	06/27/2017	RSUs	Issuer			938	06/27/2017	N/A
Class A common	06/27/2022	RSUs	Issuer			31	06/27/2022	N/A

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Nothing to Report

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What securities does the AppFolio (APPF) Form 144 propose to sell?

The notice proposes sale of 2,500 shares of Class A common stock.

What is the aggregate market value of the shares proposed for sale?

The aggregate market value is reported as $706,525.19.

Who is the broker handling the proposed sale in the Form 144?

The broker is listed as Wells Fargo Clearing Services, 1 North Jefferson Avenue, St. Louis, MO 63103.

When were the shares being sold originally acquired?

The shares were acquired as RSUs on 06/27/2016 (1,531), 06/27/2017 (938), and 06/27/2022 (31).

Does the filing report any securities sold by the filer in the past three months?

The filing states Nothing to Report for securities sold during the past three months.