AppFolio director receives 1,110-share RSU grant

Casey Saori reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

Casey Saori reported acquisition or exercise transactions in this Form 4 filing.

AppFolio Inc director Saori Casey received an equity award in the form of restricted stock units. The Form 4 reports a grant of 1,110 shares of Class A Common Stock at a stated price of $0.0000 per share, described as an annual director grant of time-based restricted stock units under the 2025 Omnibus Incentive Plan. The RSUs vest 100% on the first anniversary of the grant date, so the shares are subject to a one-year service-based vesting requirement. Following this award, Casey holds 2,358 shares of Class A Common Stock directly.

Insider Trade Summary

Grant/Award: 1,110 shares

Grant/Award 1 txn

Insider Casey Saori

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Class A Common Stock	1,110	$0.00	$0.00

Holdings After Transaction: Class A Common Stock — 2,358 shares (Direct)

Footnotes (1)

1. F1. Represents an annual director grant of time-based restricted stock units ("RSUs") under the 2025 Omnibus Incentive Plan. The RSUs vest 100% on the first anniversary of the date of grant.

Key Figures

RSUs granted: 1,110 shares Transaction price: $0.0000 per share Post-transaction holdings: 2,358 shares +2 more

5 metrics

RSUs granted 1,110 shares Annual director grant of Class A Common Stock RSUs

Transaction price $0.0000 per share Stated transaction price for RSU grant

Post-transaction holdings 2,358 shares Total Class A Common Stock directly owned after grant

Vesting schedule 100% after one year RSUs vest on first anniversary of grant date

Plan name 2025 Omnibus Incentive Plan Equity incentive plan governing the RSU award

Key Terms

restricted stock units, 2025 Omnibus Incentive Plan, time-based, annual director grant

4 terms

restricted stock units financial

"Represents an annual director grant of time-based restricted stock units ("RSUs") under the 2025 Omnibus Incentive Plan."

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

2025 Omnibus Incentive Plan financial

"Represents an annual director grant of time-based restricted stock units ("RSUs") under the 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.

time-based financial

"Represents an annual director grant of time-based restricted stock units ("RSUs") under the 2025 Omnibus Incentive Plan."

annual director grant financial

"Represents an annual director grant of time-based restricted stock units ("RSUs") under the 2025 Omnibus Incentive Plan."

FAQ

What insider transaction did AppFolio (APPF) director Saori Casey report?

Director Saori Casey reported receiving an equity grant of 1,110 Class A Common Stock restricted stock units. The award is an annual director grant under AppFolio’s 2025 Omnibus Incentive Plan and increases her direct holdings to 2,358 shares after the transaction.

How many AppFolio (APPF) shares were granted to Saori Casey and at what price?

Saori Casey was granted 1,110 shares of Class A Common Stock as restricted stock units at a stated transaction price of $0.0000 per share. This reflects a compensation-related equity award rather than an open-market purchase of AppFolio stock.

When do Saori Casey’s AppFolio (APPF) restricted stock units vest?

The filing states that the restricted stock units vest 100% on the first anniversary of the grant date. This means the entire 1,110-share award becomes fully vested after one year of continued service as an AppFolio director.

What is Saori Casey’s AppFolio (APPF) share ownership after this Form 4 transaction?

After the reported grant, Saori Casey directly owns 2,358 shares of AppFolio Class A Common Stock. This post‑transaction figure includes the newly awarded 1,110 restricted stock units, which remain subject to a one-year time-based vesting schedule.

Is Saori Casey’s AppFolio (APPF) Form 4 transaction a market buy or a compensation grant?

The transaction is a compensation-related grant, not a market purchase. The Form 4 uses code “A” for a grant, award, or other acquisition and describes the 1,110 shares as an annual director grant of time-based restricted stock units under AppFolio’s 2025 Omnibus Incentive Plan.

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Accepted by SEC EDGAR 07/01/2026 - 06:08 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^*

Casey Saori

(Last) (First) (Middle)

70 CASTILIAN DRIVE

(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
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/29/2026

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	06/29/2026		A		1,110(1)	A	$0	2,358	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 an annual director grant of time-based restricted stock units ("RSUs") under the 2025 Omnibus Incentive Plan. The RSUs vest 100% on the first anniversary of the date of grant.

Remarks:

	/s/ Evan Pickering, as Attorney-in-Fact, for Saori Casey	07/01/2026
	** 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)