AppFolio Inc (APPF) ten percent owner reports 8,334-share 10b5-1 sale
Rhea-AI Filing Summary
Maurice J. Duca, a ten percent owner of AppFolio Inc, reported open-market sales totaling 8,334 shares of Class A Common Stock on August 5, 2026. The shares were sold in multiple trades, including 368 shares at $196.39, 506 shares at $197.11 and 2,035 shares at $193.12, pursuant to a Rule 10b5-1 trading plan adopted March 13, 2026. The transactions include shares held directly, by a family trust, and by a pension trust for which he serves as sole trustee but has no pecuniary interest, and he also reports indirect holdings through several investment LLCs and a charitable remainder trust, with beneficial ownership disclaimed in certain cases.
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Insights
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Insider Trade Summary 10b5-1
Net Seller: 8,334 shares
Net Sell
22 txns
Insider
DUCA MAURICE J
Role
10% Owner
Sold
8,334 shs ($1.63M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Class A Common Stock F1, F2 | 368 | $196.39 | $72K |
| Sale | Class A Common Stock F1, F3 | 506 | $197.11 | $100K |
| Sale | Class A Common Stock F1, F4 | 227 | $197.91 | $45K |
| Sale | Class A Common Stock F1 | 33 | $200.49 | $7K |
| Sale | Class A Common Stock F1, F5 | 583 | $193.12 | $113K |
| Sale | Class A Common Stock F1, F6 | 433 | $193.98 | $84K |
| Sale | Class A Common Stock F1, F7 | 66 | $194.85 | $13K |
| Sale | Class A Common Stock F1, F2 | 168 | $196.40 | $33K |
| Sale | Class A Common Stock F1, F3 | 230 | $197.11 | $45K |
| Sale | Class A Common Stock F1, F4 | 105 | $197.91 | $21K |
| Sale | Class A Common Stock F1 | 15 | $200.49 | $3K |
| Sale | Class A Common Stock F1, F5, F8 | 2,035 | $193.12 | $393K |
| Sale | Class A Common Stock F1, F6, F8 | 1,528 | $193.98 | $296K |
| Sale | Class A Common Stock F1, F7, F8 | 232 | $194.85 | $45K |
| Sale | Class A Common Stock F1, F2, F8 | 587 | $196.39 | $115K |
| Sale | Class A Common Stock F1, F9, F8 | 802 | $197.11 | $158K |
| Sale | Class A Common Stock F1, F4, F8 | 364 | $197.91 | $72K |
| Sale | Class A Common Stock F1, F8 | 52 | $200.49 | $10K |
| holding | Class A Common Stock F10 | -- | -- | -- |
| holding | Class A Common Stock F11 | -- | -- | -- |
| holding | Class A Common Stock F12 | -- | -- | -- |
| holding | Class A Common Stock F13 | -- | -- | -- |
Holdings After Transaction:
Class A Common Stock — 59,662 shares (Direct);
Class A Common Stock — 25,824 shares (Indirect, By Family Trust);
Class A Common Stock — 95,532 shares (Indirect, By Pension Trust);
Class A Common Stock — 26,667 shares (Indirect, By IGSB Cardinal I, LLC);
Class A Common Stock — 142,857 shares (Indirect, By IGSB Gaucho Fund I, LLC);
Class A Common Stock — 9,805 shares (Indirect, By IGSB Cardinal Core BV, LLC);
Class A Common Stock — 7,022 shares (Indirect, By Charitable Remainder Trust)
Footnotes (13)
- F1. Sales made pursuant to a 10b5-1 trading plan previously adopted by the Reporting Person on March 13, 2026.
- F2. This price reflects the weighted average price at which these shares were sold. The shares were sold in multiple transactions at prices ranging from $195.73 to $196.70, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- F3. This price reflects the weighted average price at which these shares were sold. The shares were sold in multiple transactions at prices ranging from $196.73 to $197.58, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- F4. This price reflects the weighted average price at which these shares were sold. The shares were sold in multiple transactions at prices ranging from $197.78 to $198.03, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- F5. This price reflects the weighted average price at which these shares were sold. The shares were sold in multiple transactions at prices ranging from $192.58 to $193.57, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- F6. This price reflects the weighted average price at which these shares were sold. The shares were sold in multiple transactions at prices ranging from $193.58 to $194.53, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- F7. This price reflects the weighted average price at which these shares were sold. The shares were sold in multiple transactions at prices ranging from $194.70 to $195.66, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- F8. These shares of Class A Common Stock ("Class A Shares") are held by a pension trust of which the Reporting Person is the sole trustee and who, in that capacity, possesses sole voting and sole dispositive power over these Class A Shares. However, the Reporting Person does not possess any pecuniary interest in these Class A Shares.
- F9. This price reflects the weighted average price at which these shares were sold. The shares were sold in multiple transactions at prices ranging from $196.73 to $197.65, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- F10. These Class A Shares are owned by IGSB Cardinal I, LLC, a limited liability company, of which the Reporting Person is the managing member. In that capacity, the Reporting Person possesses sole voting and dispositive power over these Class A Shares. However, the Reporting Person disclaims beneficial ownership in these Class A Shares, except to the extent of any pecuniary interest he may have therein.
- F11. These Class A Shares are owned by IGSB Gaucho Fund I, LLC, a limited liability company, of which the Reporting Person is the managing member. In that capacity, the Reporting Person possesses sole voting and dispositive power over these Class A Shares. However, the Reporting Person disclaims beneficial ownership in these Class A Shares, except to the extent of any pecuniary interest he may have therein.
- F12. These Class A Shares are owned by IGSB Cardinal Core BV, LLC, a limited liability company, of which the Reporting Person is the managing member. In that capacity, the Reporting Person possesses sole voting and dispositive power over these Class A Shares, but he disclaims beneficial ownership in these Class A Shares, except to the extent of any pecuniary interest he may have therein.
- F13. These Class A Shares are held by a trust of which the Reporting Person is a co-trustee and, in that capacity, he may be deemed to share voting and dispositive power over these Class A Shares with the other trustee. However, the Reporting Person does not have a pecuniary interest in, and he disclaims beneficial ownership of, these Class A Shares.
Key Figures
Shares sold: 8,334 shares
Direct sale price example: $196.39 per share
Pension trust sale example: 2,035 shares at $193.12 per share
+4 more
7 metrics
Shares sold
8,334 shares
Aggregate Class A Common Stock sales reported for August 5, 2026
Direct sale price example
$196.39 per share
368 Class A shares sold directly on August 5, 2026
Pension trust sale example
2,035 shares at $193.12 per share
Class A shares sold by a pension trust where Duca has no pecuniary interest
Indirect holding – IGSB Cardinal I, LLC
26,667 shares
Indirect Class A Common Stock held as of August 4, 2026
Indirect holding – IGSB Gaucho Fund I, LLC
142,857 shares
Indirect Class A Common Stock held as of August 4, 2026
Indirect holding – IGSB Cardinal Core BV, LLC
9,805 shares
Indirect Class A Common Stock held as of August 4, 2026
Indirect holding – Charitable Remainder Trust
7,022 shares
Indirect Class A Common Stock held as of August 4, 2026 with no pecuniary interest
Key Terms
Rule 10b5-1 trading plan, weighted average price, pecuniary interest, dispositive power, +1 more
5 terms
Rule 10b5-1 trading plan regulatory
"Sales made pursuant to a 10b5-1 trading plan previously adopted"
A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.
weighted average price financial
"This price reflects the weighted average price at which these shares were sold"
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
pecuniary interest financial
"the Reporting Person does not possess any pecuniary interest in these Class A Shares"
dispositive power financial
"possesses sole voting and sole dispositive power over these Class A Shares"
Dispositive power is the authority to decide the final outcome of an asset, legal claim, contract, or corporate action — in effect the power to dispose of or resolve something. For investors it matters because whoever holds that authority can determine who gets paid, who controls an asset or vote, and how risks and returns are allocated; think of it like holding the key that lets you lock in the winner or loser in a deal.
beneficial ownership financial
"the Reporting Person disclaims beneficial ownership in these Class A Shares"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What insider transactions in APPF did Maurice J. Duca report?
Maurice J. Duca, a ten percent owner, reported selling 8,334 shares of AppFolio Class A Common Stock on August 5, 2026. The shares were sold in multiple open-market trades at disclosed per-share prices such as $196.39, $197.11 and $193.12.
What indirect APPF holdings does Maurice J. Duca report after these transactions?
He reports indirect holdings of 26,667 shares via IGSB Cardinal I, LLC, 142,857 shares via IGSB Gaucho Fund I, LLC, 9,805 shares via IGSB Cardinal Core BV, LLC and 7,022 shares via a charitable remainder trust, with beneficial ownership disclaimed in several cases.
Does Maurice J. Duca claim full beneficial ownership of all reported APPF positions?
No. For several indirect positions, including certain LLCs and a charitable remainder trust, he disclaims beneficial ownership, except to the extent of any pecuniary interest, and in some trusts states he has no pecuniary interest in the shares.