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  4. [Form 4] APPFOLIO INC Insider Trading Activity

AppFolio director granted new RSU awards

APPFOLIO INC reported acquisition or exercise transactions in this Form 4 filing.

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

APPFOLIO INC reported acquisition or exercise transactions in this Form 4 filing.

AppFolio Inc, as reporting person, recorded equity awards tied to board service. On June 29, 2026, it reported a pro-rated annual director grant of 1,568 time-based restricted stock units (RSUs) of Class A Common Stock and a separate new director grant of 649 RSUs, both at $0.00 per share under the 2025 Omnibus Incentive Plan. The RSUs in each grant vest 100% on the first anniversary of the grant date. The reporting person also holds 1,559 Class A shares in a Roth IRA. These are compensation-related awards, not open-market purchases or sales.

Positive

  • None.

Negative

  • None.
Insider APPFOLIO INC
Role Director
Type Security Shares Price Value
Grant/Award Class A Common Stock 649 $0.00 $0.00
Grant/Award Class A Common Stock 1,568 $0.00 $0.00
holding Class A Common Stock -- -- --
Holdings After Transaction: Class A Common Stock — 3,776 shares (Direct)
Footnotes (3)
  1. F1. The Reporting Person holds 1,559 shares of Class A Common Stock in a Roth IRA.
  2. F2. Represents a pro-rated annual director grant of time-based restricted stock units ("RSUs") under the 2025 Omnibus Incentive Plan, with such annual grant prorated based on service from June 29, 2026. The RSUs vest 100% on the first anniversary of the date of grant.
  3. F3. Represents a new director grant of time-based restricted stock units ("RSUs") under the 2025 Omnibus Incentive Plan. The RSUs vest 100% on the first anniversary of the date of grant.
Roth IRA holding 1,559 shares Class A Common Stock held in a Roth IRA
Pro-rated director RSU grant 1,568 RSUs Time-based RSUs under 2025 Omnibus Incentive Plan, granted June 29, 2026
New director RSU grant 649 RSUs Time-based RSUs under 2025 Omnibus Incentive Plan, granted June 29, 2026
RSU grant price $0.00 per share Transaction price per share for both RSU grants
RSU vesting schedule 1-year cliff vesting Each RSU grant vests 100% on first anniversary of grant
restricted stock units financial
"Represents a pro-rated annual director grant of time-based restricted stock units ("RSUs") under the 2025 Omnibus Incentive Plan"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
2025 Omnibus Incentive Plan financial
"time-based restricted stock units ("RSUs") under the 2025 Omnibus Incentive Plan"
An omnibus incentive plan is a company-wide program that authorizes awards of pay tied to performance and retention—such as stock options, restricted shares, cash bonuses and other rewards—here labeled for the year it was adopted (2025). Investors care because it affects how much ownership can be issued, dilutes existing shareholders, and aligns executives’ and employees’ incentives with company goals, similar to giving team members a stake in the outcome.
Roth IRA financial
"The Reporting Person holds 1,559 shares of Class A Common Stock in a Roth IRA."
A Roth IRA is a retirement savings account you fund with money that’s already been taxed, and withdrawals taken in retirement under the account rules are tax-free. It matters to investors because it shifts the tax bill to today instead of retirement, potentially increasing after-tax income later—think of it like paying for a lifetime subscription now so you can use it without extra charges in the future—helpful for long-term tax planning and flexibility.
time-based financial
"time-based restricted stock units ("RSUs") under the 2025 Omnibus Incentive Plan"
annual director grant financial
"Represents a pro-rated annual director grant of time-based restricted stock units ("RSUs")"

FAQ

What insider transactions did APPF report in this Form 4?
APPF reported two equity compensation grants of Class A Common Stock RSUs for a director, plus an existing Roth IRA holding. The filing shows awards rather than open-market trades, reflecting routine stock-based compensation tied to board service terms and vesting schedules.

How many AppFolio (APPF) RSUs were granted to the director?
The director received two RSU awards: one for 1,568 shares and another for 649 shares of Class A Common Stock. Both were granted at zero purchase price as stock-based compensation under AppFolio’s 2025 Omnibus Incentive Plan, rather than cash transactions in the market.

When do the new AppFolio (APPF) RSU grants vest?
Both RSU grants vest 100% on the first anniversary of their grant date. One award is a pro-rated annual director grant based on service from June 29, 2026, and the other is a new director grant with the same one-year time-based vesting schedule.

Were these APPF insider transactions open-market buys or sells?
No, the transactions were classified as grant or award acquisitions with a transaction price of $0.00 per share. They represent restricted stock unit compensation for a director, not discretionary open-market purchases or sales of AppFolio Class A Common Stock.

What existing AppFolio (APPF) holdings were disclosed for the reporting person?
The filing notes that the reporting person holds 1,559 shares of AppFolio Class A Common Stock in a Roth IRA. This reflects a previously established position and is separate from the new time-based restricted stock unit grants reported in the same Form 4.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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SEC Form 4
FORM 4UNITED 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*
APPFOLIO INC
(Last)(First)(Middle)
70 CASTILIAN DR
(Street)
SANTA BARBARA CALIFORNIA 93117
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
APPFOLIO INC [ APPF ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XDirector10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
06/29/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

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)
CodeVAmount(A) or (D)Price
Class A Common Stock1,559(1)D
Class A Common Stock06/29/2026A649(2)A$0649D
Class A Common Stock06/29/2026A1,568(3)A$02,217D
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Explanation of Responses:
1. The Reporting Person holds 1,559 shares of Class A Common Stock in a Roth IRA.
2. Represents a pro-rated annual director grant of time-based restricted stock units ("RSUs") under the 2025 Omnibus Incentive Plan, with such annual grant prorated based on service from June 29, 2026. The RSUs vest 100% on the first anniversary of the date of grant.
3. Represents a new director grant of time-based restricted stock units ("RSUs") under the 2025 Omnibus Incentive Plan. The RSUs vest 100% on the first anniversary of the date of grant.
Remarks:
This grant statement has been made for Michael MiQi Yang using the Issuer's CIK codes. An amendment will be filed for Mr. Yang upon receipt of his CIK filer codes from the SEC.
/s/ Evan Pickering as Attorney-in-Fact for Michael MiQi Yang07/01/2026
** Signature of Reporting PersonDate
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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR