[Form 3/A] AppFolio, Inc. Amended Initial Statement of Beneficial Ownership

Rhea-AI Filing Summary

Don Rigler, Principal Accounting Officer of AppFolio, Inc. (APPF), filed an amended Form 3 reporting beneficial ownership of 2,744 shares of Class A Common Stock as of the 08/08/2025 event. Those shares represent a grant of time-based restricted stock units under the Issuer's 2025 Omnibus Incentive Plan that vest over four years with 1/16th vesting quarterly beginning May 10, 2026. The amendment (Form 3/A) clarifies that the filing uses Mr. Rigler's individual CIK codes; it states no changes to his beneficial ownership are being reported. The form was signed by an attorney-in-fact on 08/27/2025.

Positive

• Disclosure of RSU grant with clear vesting schedule (1/16th quarterly beginning May 10, 2026)
• Reporting officer identified (Principal Accounting Officer), meeting Section 16 transparency requirements
• Amendment corrects filing CIKs to reflect the reporting individual's records

Negative

• None.

Insights

Financial Analyst

TL;DR: Officer reported a routine RSU grant and updated filing CIKs; no change to ownership position.

The filing documents a time-based equity award of 2,744 RSU-equivalent shares that will vest over four years, a standard executive compensation mechanism intended to align interests with shareholders. The amendment corrects administrative filing details by using the reporting individual's CIK codes rather than the issuer's. There are no sales, purchases, or derivative instruments disclosed and no change in beneficial ownership beyond the originally reported grant. This disclosure appears routine and administrative in nature.

Corporate Governance Expert

TL;DR: Governance disclosure is procedural and compliant; RSU vesting schedule is clearly disclosed.

The Form 3/A provides required Section 16 transparency: it identifies the reporting person as a company officer and itemizes a time-based RSU grant with explicit vesting terms (1/16th quarterly commencing May 10, 2026). The amendment addresses CIK identification for accurate filing ownership records. No indications of material governance issues or unusual insider transactions are present in the filing.

SEC Form 3

FORM 3

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

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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

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1. Name and Address of Reporting Person^*

Rigler Don

(Last) (First) (Middle)

70 CASTILIAN DRIVE

(Street)

SANTA BARBARA CA 93117

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
08/08/2025

3. Issuer Name and Ticker or Trading Symbol
APPFOLIO INC [ APPF ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Principal Accounting Officer

5. If Amendment, Date of Original Filed (Month/Day/Year)
08/08/2025

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 Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Class A Common Stock	2,744(1)	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Represents a grant of time-based restricted stock units ("RSUs") granted pursuant to the Issuer's 2025 Omnibus Incentive Plan. The RSUs vest over four years with 1/16th of the RSUs vesting quarterly beginning May 10, 2026.

Remarks:

This Form 3/A amends the Form 3 filed on August 8, 2025, which reported Mr. Rigler's initial holdings using the Issuer's CIK number while pending receipt of Mr. Rigler's new filer CIK codes. This Form 3/A has been filed using Mr. Rigler's CIK codes and reflects him as the Reporting Owner. No changes have been made or are being reported with respect to Mr. Rigler's beneficial ownership of Issuer securities.

	/s/ Evan Pickering, as Attorney-in-Fact for Don Rigler	08/27/2025
	** 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 5 (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 did Don Rigler report on the Form 3/A for APPF?

The filing reports 2,744 shares of Class A Common Stock representing time-based RSUs granted under the 2025 Omnibus Incentive Plan.

When do the RSUs reported by Don Rigler vest?

The RSUs vest over four years with 1/16th of the grant vesting quarterly beginning May 10, 2026.

Why was an amended Form 3/A filed for Don Rigler at APPF?

The amendment was filed to use Mr. Rigler's individual CIK codes rather than the issuer's CIK; the amendment states no change in beneficial ownership.

Does the Form 3/A show any sales or derivative transactions by Don Rigler?

No. The filing discloses only the RSU grant and does not report any sales, purchases, or derivative securities.

What is Don Rigler's relationship to AppFolio as stated in the filing?

He is reported as an Officer with the title Principal Accounting Officer.