AppFolio CEO sells 3,584 shares in open market

AppFolio Inc. Chief Executive Officer William Shane Trigg reported selling a total of 3,584 shares of Class A Common Stock in open-market transactions on May 15, 2026.

Accepted by SEC EDGAR 05/19/2026 - 05:49 PM EDT Learn about SEC filing dates

Rhea-AI Filing Summary

AppFolio Inc. Chief Executive Officer William Shane Trigg reported selling a total of 3,584 shares of Class A Common Stock in open-market transactions on May 15, 2026. The sales were executed in multiple trades at weighted average prices within ranges from $151.31 to $154.49, according to the filing’s trade details.

Insider Trade Summary 10b5-1

Net Seller: 3,584 shares

Net Sell 3 txns

Insider Trigg William Shane

Role Chief Executive Officer

Sold 3,584 shs ($547K)

Share of Position Sold 4.5%

Type	Security	Shares	Price	Value
Sale	Class A Common Stock	1,436	$151.68	$218K
Sale	Class A Common Stock	1,486	$152.70	$227K
Sale	Class A Common Stock	662	$153.85	$102K

Holdings After Transaction: Class A Common Stock — 76,547 shares (Direct)

Holdings Before and After: Class A Common Stock, 80,131 to 76,547 shares (Direct)

Other Insiders: 1 other insider reported open-market sales of this stock in the 30 days up to this filing.

Footnotes (3)

1. F1. This transaction was executed in multiple trades with sales prices ranging from $151.31 to $152.30. The price reported above reflects the weighted average sales price for the cumulative trades. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer information regarding the individual trades.
2. F2. This transaction was executed in multiple trades with sales prices ranging from $152.32 to $153.31. The price reported above reflects the weighted average sales price for the cumulative trades. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer information regarding the individual trades.
3. F3. This transaction was executed in multiple trades with sales prices ranging from $153.50 to $154.49. The price reported above reflects the weighted average sales price for the cumulative trades. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer information regarding the individual trades.

Key Figures

Total shares sold: 3,584 shares First sale size: 662 shares First sale price: $153.85 per share +5 more

8 metrics

Total shares sold 3,584 shares Aggregate open-market sales on May 15, 2026

First sale size 662 shares Class A Common Stock, open-market sale

First sale price $153.85 per share Weighted average price for 662-share sale

Second sale size 1,486 shares Class A Common Stock, open-market sale

Second sale price $152.70 per share Weighted average price for 1,486-share sale

Third sale size 1,436 shares Class A Common Stock, open-market sale

Third sale price $151.68 per share Weighted average price for 1,436-share sale

Net share change -3,584 shares Net-sell direction from transaction summary

Key Terms

Class A Common Stock, open-market sale, weighted average sales price, transaction code "S", +1 more

5 terms

Class A Common Stock financial

"security_title: "Class A Common Stock""

Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.

open-market sale financial

"transaction_action: "open-market sale""

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

weighted average sales price financial

"The price reported above reflects the weighted average sales price"

transaction code "S" financial

"transaction_code_description: "Sale in open market or private transaction""

non-derivative financial

"transaction_type: "non-derivative""

FAQ

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

What insider transaction did AppFolio (APPF) report for its CEO?

AppFolio reported that CEO William Shane Trigg sold 3,584 shares of Class A Common Stock. The transactions were open-market sales executed on May 15, 2026, and are detailed across three separate entries in the Form 4 filing.

How many AppFolio (APPF) shares did the CEO sell and on what date?

The CEO sold 3,584 shares of AppFolio Class A Common Stock on May 15, 2026. The Form 4 shows three separate open-market sale transactions that together add to this total share amount reported in the transaction summary.

At what prices did the AppFolio (APPF) CEO sell his shares?

The reported sales used weighted average prices, with trade ranges from $151.31 to $154.49 per share. Each transaction line reflects an average price, while footnotes describe the specific intra-day price ranges for the multiple trades making up each sale.

What type of transactions did the AppFolio (APPF) CEO execute?

All reported transactions were open-market sales of non-derivative Class A Common Stock. The Form 4 classifies them with transaction code “S,” indicating sales in the open market or in private transactions, rather than option exercises or derivative-related activity.

Does the AppFolio (APPF) CEO’s Form 4 include any derivative securities?

The Form 4 derivative summary is empty, indicating no derivative transactions were reported in this filing. All three entries involve non-derivative Class A Common Stock, focusing solely on direct share sales rather than options, warrants, or other convertible instruments.

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

Form 4 Insider Transactions: What Each Field Means →

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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).

X

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)
05/15/2026

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	05/15/2026		S		1,436	D	$151.68(1)	78,695	D
Class A Common Stock	05/15/2026		S		1,486	D	$152.7(2)	77,209	D
Class A Common Stock	05/15/2026		S		662	D	$153.85(3)	76,547	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. This transaction was executed in multiple trades with sales prices ranging from $151.31 to $152.30. The price reported above reflects the weighted average sales price for the cumulative trades. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer information regarding the individual trades.

2. This transaction was executed in multiple trades with sales prices ranging from $152.32 to $153.31. The price reported above reflects the weighted average sales price for the cumulative trades. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer information regarding the individual trades.

3. This transaction was executed in multiple trades with sales prices ranging from $153.50 to $154.49. The price reported above reflects the weighted average sales price for the cumulative trades. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer information regarding the individual trades.

Remarks:

	/s/ Evan Pickering, as Attorney-in-Fact, for William Shane Trigg	05/19/2026
	** 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)