[144] AppFolio, Inc. SEC Filing

Rhea-AI Filing Summary

Meta Platforms, Inc. (META) has filed a Form 144 indicating that insider Peggy Alford plans to sell 518 Class A common shares via Charles Schwab around 01 Aug 2025. The proposed sale is valued at $394,094, based on the market price stated in the notice. The shares originate from restricted-stock-unit (RSU) vesting events on 15 May 2023 (231 sh) and 15 May 2024 (287 sh).

With approximately 2.17 billion META shares outstanding, the transaction represents about 0.00002 % of the float, making its economic impact de-minimis. Alford previously sold 700 shares for $408,224 on 02 May 2025, bringing total disclosed insider dispositions in the past three months to 1,218 shares. Form 144 is a notice of intent; execution is not guaranteed and no operational or financial metrics are provided.

Positive

• Sale equals just 0.00002 % of outstanding shares, posing no dilution or liquidity risk.
• Timely Form 144 filing demonstrates transparency in insider trading activity.

Negative

• Second insider disposition in three months may signal ongoing insider selling trend.
• Even routine insider sales can exert short-term negative sentiment among investors.

Insights

Equity Research Analyst

TL;DR: Tiny insider sale; immaterial to META’s fundamentals or valuation.

The 518-share notice equals roughly $0.4 M versus Meta’s $1 T+ market cap—clearly immaterial. Insider sales tied to RSU vesting are routine for compensation-related liquidity and do not suggest strategic change. Volume is too small to move the stock, and Form 144 merely signals intent. I view the filing as neutral to the investment thesis.

Corporate Governance Specialist

TL;DR: Standard Rule 144 disclosure provides transparency; no red flags.

Alford’s sale follows governance best practices: timely filing, use of a reputable broker, and clear sourcing from RSU lapses. While consecutive sales (1,218 shares in three months) can raise optics questions, size is negligible and the notice affirms no undisclosed adverse information. Overall governance impact is neutral.

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
Common	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	21000	5614980.00	22871704	08/01/2025	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 *
Common	09/11/2012	Direct from Issuer	Issuer			21000	09/11/2012	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

How many Meta Platforms (META) shares are being sold in this Form 144?

The filing covers 518 Class A shares.

What is the dollar value of the proposed META share sale?

The aggregate market value is $394,094.

When is the insider planning to sell the shares?

The approximate sale date is 01 Aug 2025.

How were the shares acquired by the insider?

They were received through RSU vesting events on 15 May 2023 and 15 May 2024.

Has this insider sold Meta stock recently?

Yes, 700 shares were sold on 02 May 2025 for $408,224.