AppFolio (NASDAQ: APPF) adds Saori Casey as independent director to board

Rhea-AI Filing Summary

AppFolio, Inc. reported changes to its board of directors. On January 12, 2026, the board reduced its size from nine to seven directors and elected Saori Casey as a Class II director, effective February 12, 2026, to fill an existing vacancy. She will serve until the 2026 annual meeting of shareholders and until a successor is elected and qualified or she departs earlier.

The board determined that Casey is an independent director under Nasdaq and SEC rules. She will receive the same cash and equity compensation as AppFolio’s other non-employee directors, and the company will enter into its standard indemnification agreement with her. Casey is currently Chief Financial Officer of Sonos, Inc. and previously held senior finance roles at Apple Inc. and Cisco Systems, Inc., and serves on the board and key committees of Houzz, Inc.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): January 12, 2026

AppFolio, Inc.

(Exact name of registrant as specified in its charter)

Delaware

(State or other jurisdiction of incorporation)

001-37468			26-0359894
(Commission File Number)			(IRS Employer Identification Number)

70 Castilian Drive

Santa Barbara, CA 93117

(Address of principal executive offices)

Registrant’s telephone number, including area code: (805) 364-6093

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class			Trading Symbol			Name of each exchange on which registered
Class A Common Stock, $0.0001 par value			APPF			NASDAQ Global Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(d)    On January 12, 2026, the Board of Directors (the “Board”) of AppFolio, Inc. (the “Company”) (1) decreased the number of directors that comprise the Board from nine to seven directors in accordance with the Company’s Amended and Restated Certificate of Incorporation and Amended and Restated Bylaws, and (2) upon the recommendation of the Board’s Nominating and Corporate Governance Committee, elected Saori Casey to the Board as a Class II Director effective as of February 12, 2026 to fill the existing vacancy on the Board. Ms. Casey will serve on the Board until the 2026 Annual Meeting of Shareholders and until her successor is duly elected and qualified or until her earlier death, resignation or removal.

In connection with her election, the Board determined that Ms. Casey qualifies as an independent director under the applicable Nasdaq and SEC rules. There were no arrangements or understandings between Ms. Casey and any other persons, pursuant to which Ms. Casey was selected as a director. No information is required to be disclosed with respect to Ms. Casey or her immediate family members pursuant to Item 404(a) of Regulation S-K. Ms. Casey will receive the same compensation and equity awards as the Company’s other non-employee directors as described in the Company’s Proxy Statement for the 2025 Annual Meeting of Shareholders under the caption “Director Compensation Policy.” The Company will enter into its standard form of indemnification agreement with Ms. Casey.

Ms. Casey is currently the Chief Financial Officer of Sonos, Inc., a leading audio platform company specializing in multi-room audio, a position she has held since January 2024. From July 2011 to December 2023, Ms. Casey served as the Vice President of Financial Planning and Analysis and Investor Relations at Apple, Inc., a designer and manufacturer of consumer electronics and a variety of services, where she also managed compensation and benefit programs. Prior to that, Ms. Casey spent 15 years at Cisco Systems, Inc., a communication technology manufacturer, where she held various roles as a finance executive. Ms. Casey currently serves on the Board of Directors of Houzz, Inc., a privately-held software company that provides a project management and home design platform for homeowners and industry professionals, and also serves on its Audit Committee, as Chair, and Compensation Committee. Ms. Casey received a B.A. in Economics from the University of California, Santa Barbara and an M.B.A from Peter F. Drucker Graduate School of Management at the Claremont Graduate University, where she has served as a member of the Drucker Advisory Board since 2018.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: January 15, 2026			AppFolio, Inc.
			By: /s/ Evan Pickering
			Name: Evan Pickering
			Title: General Counsel

FAQ

What board changes did AppFolio (APPF) disclose in this 8-K?

AppFolio disclosed that its Board of Directors reduced its size from nine to seven members and elected Saori Casey as a Class II director to fill an existing vacancy, effective February 12, 2026.

Who is Saori Casey, the new AppFolio (APPF) director?

Saori Casey is the Chief Financial Officer of Sonos, Inc. She previously served as Vice President of Financial Planning and Analysis and Investor Relations at Apple Inc., and spent 15 years in finance executive roles at Cisco Systems, Inc. She also serves on the board of Houzz, Inc. and chairs its Audit Committee.

Is Saori Casey considered an independent director at AppFolio (APPF)?

Yes. AppFolio’s board determined that Saori Casey qualifies as an independent director under applicable Nasdaq and SEC rules.

How long will Saori Casey serve on the AppFolio (APPF) board?

Saori Casey will serve as a Class II director until AppFolio’s 2026 annual meeting of shareholders and until her successor is duly elected and qualified, or until her earlier death, resignation, or removal.

What compensation will Saori Casey receive as an AppFolio (APPF) director?

Saori Casey will receive the same compensation and equity awards as AppFolio’s other non-employee directors, as described in the company’s Proxy Statement for the 2025 Annual Meeting of Shareholders under “Director Compensation Policy.”

Did AppFolio (APPF) disclose any related-party arrangements involving Saori Casey?

AppFolio stated there were no arrangements or understandings with other persons under which Saori Casey was selected, and no information is required to be disclosed about her or her immediate family members under Item 404(a) of Regulation S-K.

Will AppFolio (APPF) enter into an indemnification agreement with Saori Casey?

Yes. AppFolio plans to enter into its standard form of indemnification agreement with Saori Casey, consistent with its practice for other directors.