AppFolio (NASDAQ: APPF) CEO nets stock from PSU vesting

Rhea-AI Filing Summary

AppFolio Inc.’s chief executive officer, William Shane Trigg, reported equity compensation activity involving Class A Common Stock. On February 10, 2026, he acquired 14,121 shares at $188.3 per share through the vesting of performance-based restricted stock units granted under company incentive plans.

On the same date, a series of transactions labeled with code “F” show multiple small share dispositions at $188.3 per share, reflecting shares withheld by the company to cover minimum tax obligations tied to vesting PSUs and RSUs. After these transactions, Trigg directly owned 59,883 Class A Common shares.

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^*

Trigg William Shane

(Last) (First) (Middle)

70 CASTILIAN DR

(Street)

SANTA BARBARA CA 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)

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

3. Date of Earliest Transaction (Month/Day/Year)
02/10/2026

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)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	02/10/2026		A		14,121(1)	A	$188.3	65,651	D
Class A Common Stock	02/10/2026		F		1,723(2)	D	$188.3	63,928	D
Class A Common Stock	02/10/2026		F		499(3)	D	$188.3	63,429	D
Class A Common Stock	02/10/2026		F		1,713(4)	D	$188.3	61,716	D
Class A Common Stock	02/10/2026		F		202(5)	D	$188.3	61,514	D
Class A Common Stock	02/10/2026		F		219(6)	D	$188.3	61,295	D
Class A Common Stock	02/10/2026		F		378(7)	D	$188.3	60,917	D
Class A Common Stock	02/10/2026		F		796(8)	D	$188.3	60,121	D
Class A Common Stock	02/10/2026		F		238(9)	D	$188.3	59,883	D

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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Consists of Class A Common Stock granted by the Issuer in connection with the vesting on February 10, 2026 of the performance-based restricted stock units ("PSUs") granted to the Reporting Person on January 29, 2025 pursuant to the Issuer's 2025 Omnibus Incentive Plan.

2. Consists of Class A Common Stock withheld by the Issuer to satisfy the minimum tax withholding obligations of the Reporting Person arising in connection with the vesting on February 10, 2026 of PSUs previously granted to the Reporting Person on January 29, 2025 pursuant to the Issuer's 2025 Omnibus Incentive Plan.

3. Consists of Class A Common Stock withheld by the Issuer to satisfy the minimum tax withholding obligations of the Reporting Person arising in connection with the vesting on February 10, 2026 of PSUs previously granted to the Reporting Person on January 24, 2024 pursuant to the Issuer's 2015 Stock Incentive Plan.

4. Consists of Class A Common Stock withheld by the Issuer to satisfy the minimum tax withholding obligations of the Reporting Person arising in connection with the vesting on February 10, 2026 of PSUs previously granted to the Reporting Person on January 25, 2023 pursuant to the Issuer's 2015 Stock Incentive Plan.

5. Consists of Class A Common Stock withheld by the Issuer to satisfy the minimum tax withholding obligations of the Reporting Person arising in connection with the vesting on February 10, 2026 of the time-based restricted stock units ("RSUs") previously granted to the Reporting Person on January 29, 2025 pursuant to the Issuer's 2025 Omnibus Incentive Plan.

6. Consists of Class A Common Stock withheld by the Issuer to satisfy the minimum tax withholding obligations of the Reporting Person arising in connection with the vesting on February 10, 2026 of RSUs previously granted to the Reporting Person on January 24, 2024 pursuant to the Issuer's 2015 Stock Incentive Plan.

7. Consists of Class A Common Stock withheld by the Issuer to satisfy the minimum tax withholding obligations of the Reporting Person arising in connection with the vesting on February 10, 2026 of RSUs previously granted to the Reporting Person on March 1, 2023 pursuant to the Issuer's 2015 Stock Incentive Plan.

8. Consists of Class A Common Stock withheld by the Issuer to satisfy the minimum tax withholding obligations of the Reporting Person arising in connection with the vesting on February 10, 2026 of RSUs previously granted to the Reporting Person on January 24, 2023 pursuant to the Issuer's 2015 Stock Incentive Plan.

9. Consists of Class A Common Stock withheld by the Issuer to satisfy the minimum tax withholding obligations of the Reporting Person arising in connection with the vesting on February 10, 2026 of RSUs previously granted to the Reporting Person on December 13, 2021 pursuant to the Issuer's 2015 Stock Incentive Plan.

Remarks:

	/s/ Evan Pickering, as Attorney-in-Fact, for William Shane Trigg	02/12/2026
	** 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.

FAQ

What insider transactions did APPF CEO William Shane Trigg report?

He reported equity award vesting and related tax withholding. On February 10, 2026, Trigg acquired 14,121 AppFolio Class A Common shares from vested performance stock units, then had multiple small share dispositions where shares were withheld to satisfy minimum tax obligations on those PSU and RSU vestings.

How many AppFolio (APPF) shares did the CEO acquire in this Form 4?

He acquired 14,121 Class A Common shares. These shares were granted in connection with the February 10, 2026 vesting of performance-based restricted stock units awarded on January 29, 2025 under AppFolio’s 2025 Omnibus Incentive Plan, reflecting stock-based compensation rather than an open-market purchase.

Why were some AppFolio (APPF) shares disposed of in the CEO’s filing?

The disposals reflect tax withholding, not open-market sales. Multiple transactions coded “F” show shares of Class A Common Stock withheld by AppFolio to cover Trigg’s minimum tax obligations arising from PSU and RSU vestings under the 2015 Stock Incentive Plan and 2025 Omnibus Incentive Plan.

What is William Shane Trigg’s AppFolio (APPF) shareholding after these transactions?

He directly owns 59,883 Class A Common shares after the activity. This figure reflects the net balance following the 14,121-share PSU vesting and the series of tax-withholding transactions, all dated February 10, 2026 and reported as directly owned, non-derivative holdings.

Were any derivative securities involved in this AppFolio (APPF) Form 4?

The reported transactions involve only non-derivative common stock. The filing lists acquisitions and dispositions of Class A Common Stock tied to the vesting of performance and time-based restricted stock units, but Table II for derivative securities contains no reported option, warrant, or other derivative trades.

What compensation plans are referenced in the AppFolio (APPF) CEO’s Form 4?

Two equity incentive plans are referenced. The performance-based and time-based stock unit vestings stem from AppFolio’s 2025 Omnibus Incentive Plan and its 2015 Stock Incentive Plan, which govern how PSUs and RSUs convert into Class A Common Stock for the CEO.