AppFolio CEO shares withheld for tax obligations

AppFolio Inc.’s CEO William Shane Trigg reported routine tax-related share withholdings.

Rhea-AI Filing Summary

AppFolio Inc.’s CEO William Shane Trigg reported routine tax-related share withholdings. On May 10, 2026, the company withheld a total of 3,719 shares of Class A Common Stock, valued at $166.59 per share, to cover minimum tax obligations tied to vesting equity awards.

The withholdings relate to performance-based and time-based restricted stock units granted between March 1, 2023 and April 9, 2026 under AppFolio’s 2015 Stock Incentive Plan and 2025 Omnibus Incentive Plan. These F-code transactions are not open-market sales and reflect standard equity compensation tax settlement rather than discretionary selling.

Insider Trade Summary

Exercise Price or Tax Liability: 3,719 shares

Exercise Price or Tax Liability 7 txns

Insider Trigg William Shane

Role Chief Executive Officer

Type	Security	Shares	Price	Value
Exercise Price or Tax Liability	Class A Common Stock	599	$166.59	$100K
Exercise Price or Tax Liability	Class A Common Stock	538	$166.59	$90K
Exercise Price or Tax Liability	Class A Common Stock	985	$166.59	$164K
Exercise Price or Tax Liability	Class A Common Stock	203	$166.59	$34K
Exercise Price or Tax Liability	Class A Common Stock	220	$166.59	$37K
Exercise Price or Tax Liability	Class A Common Stock	378	$166.59	$63K
Exercise Price or Tax Liability	Class A Common Stock	796	$166.59	$133K

Holdings After Transaction: Class A Common Stock — 80,131 shares (Direct)

Footnotes (7)

1. F1. 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 May 10, 2026 of the performance-based restricted stock units ("PSUs") previously granted to the Reporting Person on January 29, 2025 pursuant to the Issuer's 2025 Omnibus Incentive Plan.
2. F2. 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 May 10, 2026 of the PSUs previously granted to the Reporting Person on January 24, 2024 pursuant to the Issuer's 2015 Stock Incentive Plan.
3. F3. 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 May 10, 2026 of the time-based restricted stock units ("RSUs") previously granted to the Reporting Person on April 9, 2026 pursuant to the Issuer's 2025 Omnibus Plan.
4. F4. 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 May 10, 2026 of the RSUs previously granted to the Reporting Person on January 29, 2025 pursuant to the Issuer's 2025 Omnibus Plan.
5. F5. 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 May 10, 2026 of the RSUs previously granted to the Reporting Person on January 24, 2024 pursuant to the Issuer's 2015 Stock Incentive Plan.
6. F6. 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 May 10, 2026 of the RSUs previously granted to the Reporting Person on March 1, 2023 pursuant to the Issuer's 2015 Stock Incentive Plan.
7. F7. 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 May 10, 2026 of the RSUs previously granted to the Reporting Person on January 24, 2023 pursuant to the Issuer's 2015 Stock Incentive Plan.

Key Figures

Shares withheld for taxes: 3,719 shares Withholding price per share: $166.59 per share Tax-withholding transactions: 7 transactions

3 metrics

Shares withheld for taxes 3,719 shares Tax withholding dispositions on May 10, 2026

Withholding price per share $166.59 per share Class A Common Stock transaction price used for tax withholding

Tax-withholding transactions 7 transactions F-code dispositions tied to vesting PSUs and RSUs

Key Terms

performance-based restricted stock units ("PSUs"), time-based restricted stock units ("RSUs"), tax withholding obligations, 2015 Stock Incentive Plan, +1 more

5 terms

performance-based restricted stock units ("PSUs") financial

"vesting on May 10, 2026 of the performance-based restricted stock units ("PSUs") previously granted"

time-based restricted stock units ("RSUs") financial

"vesting on May 10, 2026 of the time-based restricted stock units ("RSUs") previously granted"

tax withholding obligations financial

"withheld by the Issuer to satisfy the minimum tax withholding obligations of the Reporting Person"

2015 Stock Incentive Plan financial

"previously granted to the Reporting Person on January 24, 2024 pursuant to the Issuer's 2015 Stock Incentive Plan"

2025 Omnibus Incentive Plan financial

"previously granted to the Reporting Person on January 29, 2025 pursuant to the Issuer's 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.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did AppFolio (APPF) disclose in this Form 4 for its CEO?

AppFolio reported that CEO William Shane Trigg had shares withheld to cover tax obligations on vesting equity awards. The company withheld 3,719 Class A shares, rather than him selling shares in the open market, reflecting routine compensation-related activity.

How many AppFolio (APPF) shares were withheld for the CEO’s taxes?

A total of 3,719 AppFolio Class A Common Stock shares were withheld. The withholding covered minimum tax obligations triggered when multiple restricted stock unit awards vested on May 10, 2026, and was reported through several F-code transactions on the same date.

At what price were the withheld AppFolio (APPF) shares valued?

The withheld shares were valued at a transaction price of $166.59 per share. This price is used in the Form 4 to report the tax-withholding disposition of 3,719 Class A Common Stock shares tied to the vesting of the CEO’s equity awards.

Are the AppFolio (APPF) CEO’s Form 4 transactions open-market sales?

No, the Form 4 transactions are not open-market sales. They are F-code dispositions where AppFolio withheld shares to satisfy minimum tax withholding obligations arising from vesting performance-based and time-based restricted stock units granted to the CEO.

Which equity plans are involved in the AppFolio (APPF) CEO’s tax withholdings?

The withholdings relate to awards under AppFolio’s 2015 Stock Incentive Plan and 2025 Omnibus Incentive Plan. Footnotes state that both performance-based and time-based restricted stock units from grants between 2023 and 2026 vested and triggered these tax obligations.

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

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Accepted by SEC EDGAR 05/12/2026 - 07:00 PM Learn about SEC filing dates

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 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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/10/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form 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)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	05/10/2026		F		599(1)	D	$166.59	83,251	D
Class A Common Stock	05/10/2026		F		538(2)	D	$166.59	82,713	D
Class A Common Stock	05/10/2026		F		985(3)	D	$166.59	81,728	D
Class A Common Stock	05/10/2026		F		203(4)	D	$166.59	81,525	D
Class A Common Stock	05/10/2026		F		220(5)	D	$166.59	81,305	D
Class A Common Stock	05/10/2026		F		378(6)	D	$166.59	80,927	D
Class A Common Stock	05/10/2026		F		796(7)	D	$166.59	80,131	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 withheld by the Issuer to satisfy the minimum tax withholding obligations of the Reporting Person arising in connection with the vesting on May 10, 2026 of the performance-based restricted stock units ("PSUs") previously 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 May 10, 2026 of the PSUs previously granted to the Reporting Person on January 24, 2024 pursuant to the Issuer's 2015 Stock 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 May 10, 2026 of the time-based restricted stock units ("RSUs") previously granted to the Reporting Person on April 9, 2026 pursuant to the Issuer's 2025 Omnibus 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 May 10, 2026 of the RSUs previously granted to the Reporting Person on January 29, 2025 pursuant to the Issuer's 2025 Omnibus 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 May 10, 2026 of the RSUs previously granted to the Reporting Person on January 24, 2024 pursuant to the Issuer's 2015 Stock 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 May 10, 2026 of the RSUs previously granted to the Reporting Person on March 1, 2023 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 May 10, 2026 of the RSUs previously granted to the Reporting Person on January 24, 2023 pursuant to the Issuer's 2015 Stock Incentive Plan.

Remarks:

	/s/ Evan Pickering, as Attorney-in-Fact, for William Shane Trigg	05/12/2026
	** 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.
* Form 4: SEC 1474 (03-26)