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  4. [Form 4] APPFOLIO INC Insider Trading Activity

AppFolio (APPF) General Counsel logs stock sales and tax share withholdings

Filing Impact
(Moderate)
Filing Sentiment
(Negative)
Form Type
4

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.

Positive

  • None.

Negative

  • None.
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)
  1. 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.
  2. 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.
  3. 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.
  4. 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.
  5. 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.
  6. F6. These shares were sold pursuant to a plan adopted by the Reporting Person on or around March 13, 2026.
  7. 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.
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
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

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.

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Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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*
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)
Director10% Owner
XOfficer (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)
XForm 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)
CodeVAmount(A) or (D)Price
Class A Common Stock08/10/2026F80(1)D$199.545,814D
Class A Common Stock08/10/2026F54(2)D$199.545,760D
Class A Common Stock08/10/2026F27(3)D$199.545,733D
Class A Common Stock08/10/2026F39(4)D$199.545,694D
Class A Common Stock08/10/2026F64(5)D$199.545,630D
Class A Common Stock08/11/2026S(6)141D$202.015,489D
Class A Common Stock08/12/2026S(6)161D$199.125,328D
Class A Common Stock08/12/2026S(6)161(7)D$201.015,167D
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
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 Pickering08/12/2026
** Signature of Reporting PersonDate
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