AppFolio (APPF) awards 1,980 RSUs to Principal Accounting Officer

Rhea-AI Filing Summary

AppFolio Inc. reported that Principal Accounting Officer Don Rigler acquired 1,980 shares of Class A common stock through a grant of time-based restricted stock units under the company’s 2025 Omnibus Incentive Plan. These RSUs were granted at $0.00 per share, reflecting an equity-based compensation award rather than an open-market purchase.

The RSUs vest over four years, with 1/16th of the units vesting quarterly beginning May 10, 2026, meaning the award will convert into freely owned shares gradually over time if service-based conditions are met. Following this grant, Rigler directly holds 4,724 shares of AppFolio Class A common stock.

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

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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^*

Rigler Don

(Last) (First) (Middle)

70 CASTILIAN DRIVE

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
02/20/2026

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	02/20/2026		A		1,980(1)	A	$0	4,724	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. Represents a grant of time-based restricted stock units ("RSUs") granted pursuant to the Issuer's 2025 Omnibus Incentive Plan. The RSUs vest over four years with 1/16th of the RSUs vesting quarterly beginning May 10, 2026.

Remarks:

	/s/ Evan Pickering, as Attorney-in-Fact for Don Rigler	02/24/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What insider transaction did APPF report for Don Rigler on this Form 4?

AppFolio reported that Principal Accounting Officer Don Rigler received a grant of 1,980 restricted stock units of Class A common stock. The award is equity compensation with no cash paid per share and increases his directly held shares to 4,724.

Was the APPF insider transaction a stock purchase or an equity grant?

The APPF insider transaction was an equity grant, not a market purchase. Don Rigler received 1,980 restricted stock units at $0.00 per share as part of the 2025 Omnibus Incentive Plan, reflecting compensation rather than an open-market buy.

How do Don Rigler’s APPF RSUs vest under this award?

The 1,980 AppFolio RSUs granted to Don Rigler vest over four years. One‑sixteenth of the units vest quarterly, beginning May 10, 2026, so the award converts into shares gradually as time-based vesting conditions are satisfied.

What is Don Rigler’s APPF share ownership after this Form 4 transaction?

After the award, Don Rigler directly holds 4,724 shares of AppFolio Class A common stock. This total reflects the new 1,980-share restricted stock unit grant reported on the Form 4, combined with his previously held directly owned shares.

Under which plan were the 1,980 APPF restricted stock units granted?

The 1,980 restricted stock units for Don Rigler were granted under AppFolio’s 2025 Omnibus Incentive Plan. This plan is used by the company to deliver equity-based compensation awards such as time-based restricted stock units to eligible participants.

What does the $0.00 price per share mean in the APPF Form 4 filing?

The $0.00 price per share indicates the units were granted as compensation, not purchased in the market. Don Rigler did not pay cash for the 1,980 restricted stock units; they were awarded under the 2025 Omnibus Incentive Plan with service-based vesting.