[Form 4] AppFolio, Inc. Insider Trading Activity

Filing Impact

(Very High)

Filing Sentiment

(Negative)

Form Type

Insider Trade Summary

Net Seller: 303,000 shares

Net Sell 10 txns

Insider Schauser Klaus

Role 10% Owner

Sold 3,000 shs ($885K)

Type	Security	Shares	Price	Value
Sale	Class A Common Stock	100	$285.41	$29K
Sale	Class A Common Stock	200	$290.30	$58K
Sale	Class A Common Stock	800	$291.31	$233K
Sale	Class A Common Stock	700	$293.27	$205K
Sale	Class A Common Stock	100	$295.17	$30K
Sale	Class A Common Stock	100	$298.00	$30K
Sale	Class A Common Stock	748	$300.00	$224K
Sale	Class A Common Stock	52	$302.99	$16K
Sale	Class A Common Stock	200	$305.00	$61K
Gift	Class A Common Stock	300,000	$0.00	$0.00

Holdings After Transaction: Class A Common Stock — 0 shares (Indirect, By 1206 Family Trust)

Footnotes (12)

F1. These shares were sold pursuant to a plan adopted by the Reporting Person on or around March 12, 2024.
F2. This transaction was executed in multiple trades with sales prices ranging from $285.41 to $286.40. The price reported above reflects the weighted average sales price for the cumulative trades. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer information regarding the individual trades.
F3. Shares are held by 1206 Family Trust dated December 13, 2002, of which Reporting Person and his spouse serve as co-trustees.
F4. This transaction was executed in multiple trades with sales prices ranging from $290.00 to $290.99. The price reported above reflects the weighted average sales price for the cumulative trades. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer information regarding the individual trades.
F5. This transaction was executed in multiple trades with sales prices ranging from $291.17 to $292.16 The price reported above reflects the weighted average sales price for the cumulative trades. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer information regarding the individual trades.
F6. This transaction was executed in multiple trades with sales prices ranging from $292.70 to $293.69. The price reported above reflects the weighted average sales price for the cumulative trades. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer information regarding the individual trades.
F7. This transaction was executed in multiple trades with sales prices ranging from $295.08 to $296.07. The price reported above reflects the weighted average sales price for the cumulative trades. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer information regarding the individual trades.
F8. This transaction was executed in multiple trades with sales prices ranging from $298.00 to $298.99. The price reported above reflects the weighted average sales price for the cumulative trades. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer information regarding the individual trades.
F9. This transaction was executed in multiple trades with sales prices ranging from $300.00 to $300.99. The price reported above reflects the weighted average sales price for the cumulative trades. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer information regarding the individual trades.
F10. This transaction was executed in multiple trades with sales prices ranging from $302.99 to $303.99. The price reported above reflects the weighted average sales price for the cumulative trades. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer information regarding the individual trades.
F11. This transaction was executed in multiple trades with sales prices ranging from $305.00 to $305.99. The price reported above reflects the weighted average sales price for the cumulative trades. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer information regarding the individual trades.
F12. These shares were gifted pursuant to a plan adopted by the Reporting Person on or around March 12, 2024.

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Form 4 Insider Transactions: What Each Field Means →

Accepted by SEC EDGAR 08/01/2025 - 05:22 PM

SEC Form 4

FORM 4

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

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Schauser Klaus

(Last)

(First)

(Middle)

70 CASTILIAN DRIVE

(Street)

SANTA BARBARA

93117

(City)

(State)

(Zip)

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

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

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

3. Date of Earliest Transaction (Month/Day/Year)
08/01/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

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 Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class A Common Stock	08/01/2025		S		100⁽¹⁾	D	$285.41⁽²⁾	302,900	I	By 1206 Family Trust⁽³⁾
Class A Common Stock	08/01/2025		S		200⁽¹⁾	D	$290.3⁽⁴⁾	302,700	I	By 1206 Family Trust⁽³⁾
Class A Common Stock	08/01/2025		S		800⁽¹⁾	D	$291.31⁽⁵⁾	301,900	I	By 1206 Family Trust⁽³⁾
Class A Common Stock	08/01/2025		S		700⁽¹⁾	D	$293.27⁽⁶⁾	301,200	I	By 1206 Family Trust⁽³⁾
Class A Common Stock	08/01/2025		S		100⁽¹⁾	D	$295.17⁽⁷⁾	301,100	I	By 1206 Family Trust⁽³⁾
Class A Common Stock	08/01/2025		S		100⁽¹⁾	D	$298⁽⁸⁾	301,000	I	By 1206 Family Trust⁽³⁾
Class A Common Stock	08/01/2025		S		748⁽¹⁾	D	$300⁽⁹⁾	300,252	I	By 1206 Family Trust⁽³⁾
Class A Common Stock	08/01/2025		S		52⁽¹⁾	D	$302.99⁽¹⁰⁾	300,200	I	By 1206 Family Trust⁽³⁾
Class A Common Stock	08/01/2025		S		200⁽¹⁾	D	$305⁽¹¹⁾	300,000	I	By 1206 Family Trust⁽³⁾
Class A Common Stock	08/01/2025		G		300,000⁽¹²⁾	D	$0	0	I	By 1206 Family Trust⁽³⁾

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. These shares were sold pursuant to a plan adopted by the Reporting Person on or around March 12, 2024.

2. This transaction was executed in multiple trades with sales prices ranging from $285.41 to $286.40. The price reported above reflects the weighted average sales price for the cumulative trades. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer information regarding the individual trades.

3. Shares are held by 1206 Family Trust dated December 13, 2002, of which Reporting Person and his spouse serve as co-trustees.

4. This transaction was executed in multiple trades with sales prices ranging from $290.00 to $290.99. The price reported above reflects the weighted average sales price for the cumulative trades. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer information regarding the individual trades.

5. This transaction was executed in multiple trades with sales prices ranging from $291.17 to $292.16 The price reported above reflects the weighted average sales price for the cumulative trades. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer information regarding the individual trades.

6. This transaction was executed in multiple trades with sales prices ranging from $292.70 to $293.69. The price reported above reflects the weighted average sales price for the cumulative trades. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer information regarding the individual trades.

7. This transaction was executed in multiple trades with sales prices ranging from $295.08 to $296.07. The price reported above reflects the weighted average sales price for the cumulative trades. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer information regarding the individual trades.

8. This transaction was executed in multiple trades with sales prices ranging from $298.00 to $298.99. The price reported above reflects the weighted average sales price for the cumulative trades. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer information regarding the individual trades.

9. This transaction was executed in multiple trades with sales prices ranging from $300.00 to $300.99. The price reported above reflects the weighted average sales price for the cumulative trades. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer information regarding the individual trades.

10. This transaction was executed in multiple trades with sales prices ranging from $302.99 to $303.99. The price reported above reflects the weighted average sales price for the cumulative trades. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer information regarding the individual trades.

11. This transaction was executed in multiple trades with sales prices ranging from $305.00 to $305.99. The price reported above reflects the weighted average sales price for the cumulative trades. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer information regarding the individual trades.

12. These shares were gifted pursuant to a plan adopted by the Reporting Person on or around March 12, 2024.

Remarks:

	/s/ Evan Pickering as Attorney-in-Fact for Klaus Schauser	08/01/2025
	** 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 4 (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.

Source: View Original Filing on SEC EDGAR