What equity awards related to APPF triggered Evan Pickering’s tax withholding share dispositions?

The tax-related dispositions relate to vesting on August 10, 2026 of previously granted performance-based restricted stock units (PSUs) and RSUs issued under AppFolio’s 2025 Omnibus Incentive Plan and 2015 Stock Incentive Plan.

AppFolio counsel sells 463 shares in planned trades

Q: What insider activity did APPF General Counsel Evan Pickering report in this Form 4?

Evan Pickering reported 463 shares of AppFolio Class A Common Stock sold on August 11–12, 2026, plus 264 shares withheld on August 10, 2026 to cover tax obligations from vesting PSUs and RSUs.

Q: At what prices were Evan Pickering’s APPF shares sold?

The reported sales occurred at prices around $199.12, $201.01 (weighted average), and $202.01 per share. One transaction on August 12, 2026 reflected multiple trades with sale prices ranging from $201.00 to $201.01.

Q: How many APPF shares were withheld for Evan Pickering’s tax obligations?

A total of 264 shares of AppFolio Class A Common Stock were withheld on August 10, 2026 at $199.54 per share to satisfy minimum tax withholding obligations from vesting PSUs and RSUs.

AppFolio Inc. General Counsel Evan Pickering reported multiple trades in Class A Common Stock.

Filing Impact

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Filing Sentiment

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Rhea-AI Filing Summary

AppFolio Inc. General Counsel Evan Pickering reported multiple trades in Class A Common Stock. On August 11–12, 2026, he sold 463 shares in open-market transactions at prices around $199.12–$202.01, executed under a trading plan adopted around March 13, 2026. On August 10, 2026, the issuer withheld 264 shares at $199.54 per share to satisfy minimum tax withholding obligations arising from the vesting of previously granted PSUs and RSUs.

Insider Trade Summary 10b5-1

Net Seller: 463 shares

Net Sell 8 txns

Insider Pickering Evan

Role General Counsel

Sold 463 shs ($93K)

Type	Security	Shares	Price	Value
Sale	Class A Common Stock ^F6	161	$199.12	$32K
Sale	Class A Common Stock ^{F6, F7}	161	$201.01	$32K
Sale	Class A Common Stock ^F6	141	$202.01	$28K
Tax Withholding	Class A Common Stock ^F1	80	$199.54	$16K
Tax Withholding	Class A Common Stock ^F2	54	$199.54	$11K
Tax Withholding	Class A Common Stock ^F3	27	$199.54	$5K
Tax Withholding	Class A Common Stock ^F4	39	$199.54	$8K
Tax Withholding	Class A Common Stock ^F5	64	$199.54	$13K

Holdings After Transaction: Class A Common Stock — 5,167 shares (Direct)

Footnotes (7)

F1. Consists of Class A Common Stock withheld by the Issuer to satisfy the minimum tax withholding obligations of the Reporting Person arising in connection with the vesting on August 10, 2026 of the performance-based restricted stock units ("PSUs") previously granted to the Reporting Person on January 29, 2025 pursuant to the Issuer's 2025 Omnibus Incentive Plan.
F2. Consists of Class A Common Stock withheld by the Issuer to satisfy the minimum tax withholding obligations of the Reporting Person arising in connection with the vesting on August 10, 2026 of the time-based restricted stock units ("RSUs") previously granted to the Reporting Person on January 27, 2026 pursuant to the Issuer's 2025 Omnibus Plan.
F3. Consists of Class A Common Stock withheld by the Issuer to satisfy the minimum tax withholding obligations of the Reporting Person arising in connection with the vesting on August 10, 2026 of the RSUs previously granted to the Reporting Person on January 28, 2025 pursuant to the Issuer's 2025 Omnibus Plan.
F4. Consists of Class A Common Stock withheld by the Issuer to satisfy the minimum tax withholding obligations of the Reporting Person arising in connection with the vesting on August 10, 2026 of the RSUs previously granted to the Reporting Person on March 5, 2024 pursuant to the Issuer's 2015 Stock Incentive Plan.
F5. Consists of Class A Common Stock withheld by the Issuer to satisfy the minimum tax withholding obligations of the Reporting Person arising in connection with the vesting on August 10, 2026 of the RSUs previously granted to the Reporting Person on March 6, 2023 pursuant to the Issuer's 2015 Stock Incentive Plan.
F6. These shares were sold pursuant to a plan adopted by the Reporting Person on or around March 13, 2026.
F7. This transaction was executed in multiple trades with sales prices ranging from $201.00 to $201.01. 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

Shares sold: 463 shares Shares withheld for taxes: 264 shares Sale price: $199.12 per share +3 more

6 metrics

Shares sold 463 shares Total Class A Common Stock sold on August 11–12, 2026

Shares withheld for taxes 264 shares Class A shares withheld on August 10, 2026 to satisfy tax withholding

Sale price $199.12 per share Open-market sale of 161 shares on August 12, 2026

Weighted average sale price $201.01 per share 161-share sale on August 12, 2026; trades ranged $201.00–$201.01

Additional sale price $202.01 per share Sale of 141 shares on August 11, 2026

Tax-withholding price $199.54 per share Issuer withholding of 264 shares on August 10, 2026 for tax obligations

Key Terms

performance-based restricted stock units ("PSUs"), restricted stock units ("RSUs"), 2025 Omnibus Incentive Plan, 2015 Stock Incentive Plan

4 terms

performance-based restricted stock units ("PSUs") financial

"vesting on August 10, 2026 of the performance-based restricted stock units ("PSUs")"

restricted stock units ("RSUs") financial

"vesting on August 10, 2026 of the RSUs previously granted to the Reporting Person"

Restricted stock units (RSUs) are a company promise to give an employee shares of stock (or cash equivalent) in the future, but only after certain conditions—usually staying with the company for a set time or hitting performance goals—are met. Investors watch RSUs because when they vest they increase the number of shares outstanding and can lead insiders to sell shares, affecting share price, company dilution and the true cost of employee pay.

2025 Omnibus Incentive Plan financial

"previously granted to the Reporting Person on January 29, 2025 pursuant to the Issuer's 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.

2015 Stock Incentive Plan financial

"previously granted to the Reporting Person on March 6, 2023 pursuant to the Issuer's 2015 Stock Incentive Plan"

FAQ

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

What insider activity did APPF General Counsel Evan Pickering report in this Form 4?

Evan Pickering reported 463 shares of AppFolio Class A Common Stock sold on August 11–12, 2026, plus 264 shares withheld on August 10, 2026 to cover tax obligations from vesting PSUs and RSUs.

At what prices were Evan Pickering’s APPF shares sold?

The reported sales occurred at prices around $199.12, $201.01 (weighted average), and $202.01 per share. One transaction on August 12, 2026 reflected multiple trades with sale prices ranging from $201.00 to $201.01.

How many APPF shares were withheld for Evan Pickering’s tax obligations?

A total of 264 shares of AppFolio Class A Common Stock were withheld on August 10, 2026 at $199.54 per share to satisfy minimum tax withholding obligations from vesting PSUs and RSUs.

Were Evan Pickering’s APPF stock sales made under a trading plan?

Yes. The filing indicates the transactions were under Rule 10b5-1, and a footnote states the sold shares were pursuant to a plan adopted by the reporting person on or around March 13, 2026, indicating a pre-arranged trading program.

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

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Accepted by SEC EDGAR 08/12/2026 - 05:39 PM EDT

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^*

Pickering Evan

(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)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	General Counsel

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
08/10/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class A Common Stock	08/10/2026		F		80⁽¹⁾	D	$199.54	5,814	D
Class A Common Stock	08/10/2026		F		54⁽²⁾	D	$199.54	5,760	D
Class A Common Stock	08/10/2026		F		27⁽³⁾	D	$199.54	5,733	D
Class A Common Stock	08/10/2026		F		39⁽⁴⁾	D	$199.54	5,694	D
Class A Common Stock	08/10/2026		F		64⁽⁵⁾	D	$199.54	5,630	D
Class A Common Stock	08/11/2026		S⁽⁶⁾		141	D	$202.01	5,489	D
Class A Common Stock	08/12/2026		S⁽⁶⁾		161	D	$199.12	5,328	D
Class A Common Stock	08/12/2026		S⁽⁶⁾		161⁽⁷⁾	D	$201.01	5,167	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. Consists of Class A Common Stock withheld by the Issuer to satisfy the minimum tax withholding obligations of the Reporting Person arising in connection with the vesting on August 10, 2026 of the performance-based restricted stock units ("PSUs") previously granted to the Reporting Person on January 29, 2025 pursuant to the Issuer's 2025 Omnibus Incentive Plan.

2. Consists of Class A Common Stock withheld by the Issuer to satisfy the minimum tax withholding obligations of the Reporting Person arising in connection with the vesting on August 10, 2026 of the time-based restricted stock units ("RSUs") previously granted to the Reporting Person on January 27, 2026 pursuant to the Issuer's 2025 Omnibus Plan.

3. Consists of Class A Common Stock withheld by the Issuer to satisfy the minimum tax withholding obligations of the Reporting Person arising in connection with the vesting on August 10, 2026 of the RSUs previously granted to the Reporting Person on January 28, 2025 pursuant to the Issuer's 2025 Omnibus Plan.

4. Consists of Class A Common Stock withheld by the Issuer to satisfy the minimum tax withholding obligations of the Reporting Person arising in connection with the vesting on August 10, 2026 of the RSUs previously granted to the Reporting Person on March 5, 2024 pursuant to the Issuer's 2015 Stock Incentive Plan.

5. Consists of Class A Common Stock withheld by the Issuer to satisfy the minimum tax withholding obligations of the Reporting Person arising in connection with the vesting on August 10, 2026 of the RSUs previously granted to the Reporting Person on March 6, 2023 pursuant to the Issuer's 2015 Stock Incentive Plan.

6. These shares were sold pursuant to a plan adopted by the Reporting Person on or around March 13, 2026.

7. This transaction was executed in multiple trades with sales prices ranging from $201.00 to $201.01. 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/ Heather Peterson, as Attorney-in-Fact for Evan Pickering	08/12/2026
	** 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)

Source: View Original Filing on SEC EDGAR