Evan Pickering of AppFolio (APPF) awarded 2,410 RSUs vesting over 4 years

Rhea-AI Filing Summary

AppFolio, Inc. reported that its General Counsel, Evan Pickering, received an award of 2,410 shares of Class A common stock on January 27, 2026, at a price of $0 per share. This reflects a grant of time-based restricted stock units under the company’s 2025 Omnibus Incentive Plan.

The RSUs vest over four years, with 1/16 of the units vesting quarterly beginning May 10, 2026, aligning compensation with long‑term service. Following this grant, Pickering beneficially owns 5,379 shares of AppFolio Class A common stock in direct ownership.

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^*

Pickering Evan

(Last) (First) (Middle)

70 CASTILIAN DRIVE

(Street)

GOLETA 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)
	General Counsel

3. Date of Earliest Transaction (Month/Day/Year)
01/27/2026

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	01/27/2026		A		2,410(1)	A	$0	5,379	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	01/29/2026
	** 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 did AppFolio (APPF) disclose about Evan Pickering’s latest equity award?

AppFolio disclosed that General Counsel Evan Pickering received 2,410 shares of Class A common stock as a time-based RSU grant on January 27, 2026. The grant was issued at $0 per share under the company’s 2025 Omnibus Incentive Plan.

How do Evan Pickering’s new RSUs at AppFolio (APPF) vest over time?

The 2,410 RSUs granted to Evan Pickering vest over four years, with 1/16 of the units vesting quarterly. Vesting begins on May 10, 2026, creating a steady schedule that links his equity compensation to continued service with AppFolio.

How many AppFolio (APPF) shares does Evan Pickering own after this Form 4 transaction?

After the reported RSU grant, Evan Pickering beneficially owns 5,379 shares of AppFolio Class A common stock. These shares are reported as directly owned, reflecting his updated equity position following the January 27, 2026 award.

What role does Evan Pickering hold at AppFolio (APPF) according to the Form 4?

The Form 4 states that Evan Pickering serves as an officer of AppFolio with the title General Counsel. He is not listed as a director or 10% owner, and the filing reflects equity compensation tied to his executive legal role.

Under which plan were the new RSUs for AppFolio (APPF) General Counsel granted?

The RSUs granted to AppFolio General Counsel Evan Pickering were issued under the company’s 2025 Omnibus Incentive Plan. This plan provides for time-based restricted stock units, with his specific award vesting quarterly over four years starting May 10, 2026.