AppFolio insider sells 11,000 Class A shares
Maurice J. Duca, a 10% owner of AppFolio, Inc., reported open-market sales totaling 11,000 Class A Common shares on July 10 and 13, 2026 at prices around $180 per share.
Rhea-AI Filing Summary
Maurice J. Duca, a 10% owner of AppFolio, Inc., reported open-market sales totaling 11,000 Class A Common shares on July 10 and 13, 2026 at prices around $180 per share. The trades, executed by a pension trust and a family trust in which he has authority but no reported pecuniary interest, and by Duca directly, were made under a pre-arranged Rule 10b5-1 trading plan. After these sales, the filing reports 88,905 shares held directly and substantial additional indirect holdings through several trusts and LLCs.
Positive
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Negative
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Insights
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Insider Trade Summary 10b5-1
Net Seller: 11,000 shares
Net Sell
10 txns
Insider
DUCA MAURICE J
Role
10% Owner
Sold
11,000 shs ($1.98M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Class A Common Stock F1, F3 | 3,500 | $180.15 | $631K |
| Sale | Class A Common Stock F1, F3 | 1,600 | $180.15 | $288K |
| Sale | Class A Common Stock F1, F3, F2 | 5,600 | $180.15 | $1.01M |
| Sale | Class A Common Stock F1 | 100 | $180.00 | $18K |
| Sale | Class A Common Stock F1 | 100 | $180.00 | $18K |
| Sale | Class A Common Stock F1, F2 | 100 | $180.00 | $18K |
| holding | Class A Common Stock F4 | -- | -- | -- |
| holding | Class A Common Stock F5 | -- | -- | -- |
| holding | Class A Common Stock F6 | -- | -- | -- |
| holding | Class A Common Stock F7 | -- | -- | -- |
Holdings After Transaction:
Class A Common Stock — 88,905 shares (Direct);
Class A Common Stock — 40,700 shares (Indirect, By Family Trust);
Class A Common Stock — 142,200 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 (7)
- F1. Sales made pursuant to a 10b5-1 trading plan previously adopted by the Reporting Person on March 13, 2026.
- F2. 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.
- 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 $180.00 to $180.39, 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. 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.
- F5. 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.
- F6. 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.
- F7. 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: 11,000 shares
Reported sale price: $180.15 per share
Direct holdings after transactions: 88,905 shares
+4 more
7 metrics
Shares sold
11,000 shares
Total AppFolio Class A Common Stock sold on July 10 and 13, 2026
Reported sale price
$180.15 per share
Weighted-average sale price for certain transactions, with trades from $180.00 to $180.39
Direct holdings after transactions
88,905 shares
Class A Common Stock held directly by the reporting person after July 13, 2026 sales
Pension trust holdings after transactions
142,200 shares
Class A shares held by a pension trust for which the reporting person is sole trustee
Family trust holdings after transactions
40,700 shares
Class A shares held by a family trust for which the reporting person is co-trustee
IGSB Gaucho Fund I, LLC holdings
142,857 shares
Indirect Class A share holdings reported for IGSB Gaucho Fund I, LLC
IGSB Cardinal I, LLC holdings
26,667 shares
Indirect Class A share holdings reported for IGSB Cardinal I, LLC
Key Terms
Rule 10b5-1 trading plan, pecuniary interest, dispositive power, beneficial ownership
4 terms
Rule 10b5-1 trading plan financial
"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.
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.
FAQ
At what prices were the recent AppFolio (APPF) insider sales executed?
Sales were reported at $180.00 and a weighted-average price of $180.15 per share. A footnote adds that individual trades occurred in a narrow range between $180.00 and $180.39 per share for the affected transactions.
Were the AppFolio (APPF) insider sales made under a Rule 10b5-1 plan?
Yes. A footnote states the sales were made pursuant to a Rule 10b5-1 trading plan previously adopted by Maurice J. Duca on March 13, 2026, indicating the trades were pre-arranged rather than discretionary market-timing decisions.
Which entities were involved in the AppFolio (APPF) insider transactions for Maurice J. Duca?
Open-market sales involved a pension trust, a family trust, and Duca’s direct holdings. The filing also reports indirect positions via IGSB Cardinal I, LLC, IGSB Gaucho Fund I, LLC, IGSB Cardinal Core BV, LLC, and a charitable remainder trust, with certain beneficial ownership disclaimed.
What type of AppFolio (APPF) security was traded in this insider filing?
All reported transactions involve Class A Common Stock of AppFolio. The Form 4 details open-market sales of these shares and lists direct and indirect holdings across multiple trusts and LLCs, without any derivative security exercises or option transactions.
AI-generated analysis. How Rhea-AI works. Not financial advice.
