What equity awards triggered the APPF share withholding for Elizabeth Erin Barat?

The share withholding relates to vesting on August 10, 2026 of previously granted performance-based restricted stock units (PSUs) and time-based restricted stock units (RSUs) under APPFOLIO INC’s 2015 Stock Incentive Plan and 2025 Omnibus Plan.

AppFolio executive reports tax-related share withholding

Q: What insider transaction did APPF (APPFOLIO INC) report for Elizabeth Erin Barat?

Elizabeth Erin Barat, Chief People Officer of APPF, reported code F transactions on August 10, 2026 involving 1,244 shares of Class A Common Stock. The shares were withheld to cover tax obligations from vesting RSUs and PSUs, not sold on the open market.

Q: How many APPF shares were involved in Elizabeth Erin Barat’s August 10, 2026 Form 4?

The Form 4 reports a total of 1,244 shares of APPF Class A Common Stock. These shares were withheld at $199.54 per share in several transactions to satisfy minimum tax withholding obligations tied to vested RSUs and PSUs.

Q: Were Elizabeth Erin Barat’s APPF transactions open-market sales?

No. The transactions are coded F and described as payment of tax liability by withholding shares. Footnotes state the Class A Common Stock was withheld by APPFOLIO INC to cover minimum tax withholding arising from vesting RSU and PSU awards.

Q: At what price were APPF shares valued for Elizabeth Erin Barat’s tax-withholding transactions?

The transactions report a price of $199.54 per share for APPF Class A Common Stock. This price is used in multiple code F entries where shares were withheld by the issuer to satisfy the reporting person’s minimum tax withholding obligations.

Q: Was Elizabeth Erin Barat’s APPF Form 4 filed under a Rule 10b5-1 trading plan?

The filing indicates the Rule 10b5-1 checkbox is not marked, and there is no footnote stating the transactions were executed under a trading plan. The reported activity reflects tax withholding on equity award vesting, not a pre-arranged sale program.

APPFOLIO INC Chief People Officer Elizabeth Erin Barat reported multiple code F transactions on August 10, 2026 involving 1,244 shares of Class A Common Stock at $199.54 per share.

Filing Impact

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Filing Sentiment

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Form Type

Rhea-AI Filing Summary

APPFOLIO INC Chief People Officer Elizabeth Erin Barat reported multiple code F transactions on August 10, 2026 involving 1,244 shares of Class A Common Stock at $199.54 per share. These shares were withheld by the issuer to satisfy minimum tax withholding obligations arising from the vesting of previously granted performance-based and time-based restricted stock units under the company’s 2015 Stock Incentive Plan and 2025 Omnibus Plan, rather than discretionary open-market sales.

Insider Trade Summary

Tax Withholding: 1,244 shares

Tax Withholding 8 txns

Insider Barat Elizabeth Erin

Role Chief People Officer

Type	Security	Shares	Price	Value
Tax Withholding	Class A Common Stock ^F1	300	$199.54	$60K
Tax Withholding	Class A Common Stock ^F2	269	$199.54	$54K
Tax Withholding	Class A Common Stock ^F3	142	$199.54	$28K
Tax Withholding	Class A Common Stock ^F4	102	$199.54	$20K
Tax Withholding	Class A Common Stock ^F5	110	$199.54	$22K
Tax Withholding	Class A Common Stock ^F5	147	$199.54	$29K
Tax Withholding	Class A Common Stock ^F6	88	$199.54	$18K
Tax Withholding	Class A Common Stock ^F7	86	$199.54	$17K

Holdings After Transaction: Class A Common Stock — 20,301 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 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 PSUs previously granted to the Reporting Person on January 24, 2024 pursuant to the Issuer's 2015 Stock Incentive 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 time-based restricted stock units ("RSUs") previously granted to the Reporting Person on January 27, 2026 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 January 28, 2025 pursuant to the Issuer's 2025 Omnibus 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 January 23, 2024 pursuant to the Issuer's 2015 Stock Incentive Plan.
F6. 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 April 25, 2023 pursuant to the Issuer's 2015 Stock Incentive Plan.
F7. 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 24, 2023 pursuant to the Issuer's 2015 Stock Incentive Plan.

Key Figures

Shares withheld for tax: 1,244 shares Per-share value: $199.54 per share Number of tax-withholding transactions: 8 transactions +2 more

5 metrics

Shares withheld for tax 1,244 shares Total Class A Common Stock withheld on August 10, 2026 for tax obligations

Per-share value $199.54 per share Price reported for each Class A Common share in the code F transactions

Number of tax-withholding transactions 8 transactions Count of code F non-derivative dispositions reported for August 10, 2026

Vesting date of awards August 10, 2026 Date RSUs and PSUs vested, triggering share withholding for taxes

Award grant dates referenced January 24, 2023–January 27, 2026 Range of prior PSU and RSU grant dates cited in the footnotes

Key Terms

performance-based restricted stock units, time-based restricted stock units, tax withholding obligations, 2015 Stock Incentive Plan, +1 more

5 terms

performance-based restricted stock units financial

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

Performance-based restricted stock units are a type of employee equity award that converts into company shares only if predefined financial or operational targets are met over a set period. Think of it like a bonus check that becomes stock only when specific goals are hit; it ties pay to results, aligning managers’ incentives with shareholders. Investors care because these awards affect future share count, executive incentives, and signal how management’s success will be measured and rewarded.

time-based restricted stock units financial

"vesting on August 10, 2026 of the time-based restricted stock units"

Time-based restricted stock units are a form of employee compensation where individuals are granted company shares that are earned over a set period, often as a reward for staying with the company. These shares typically become fully owned and transferable only after passing specific time milestones, encouraging long-term commitment. For investors, they highlight a company's focus on employee retention and can influence future stock supply and company stability.

tax withholding obligations financial

"withheld by the Issuer to satisfy the minimum tax withholding obligations"

2015 Stock Incentive Plan financial

"pursuant to the Issuer's 2015 Stock Incentive Plan"

2025 Omnibus Plan financial

"pursuant to the Issuer's 2025 Omnibus Plan"

FAQ

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

What insider transaction did APPF (APPFOLIO INC) report for Elizabeth Erin Barat?

Elizabeth Erin Barat, Chief People Officer of APPF, reported code F transactions on August 10, 2026 involving 1,244 shares of Class A Common Stock. The shares were withheld to cover tax obligations from vesting RSUs and PSUs, not sold on the open market.

How many APPF shares were involved in Elizabeth Erin Barat’s August 10, 2026 Form 4?

The Form 4 reports a total of 1,244 shares of APPF Class A Common Stock. These shares were withheld at $199.54 per share in several transactions to satisfy minimum tax withholding obligations tied to vested RSUs and PSUs.

Were Elizabeth Erin Barat’s APPF transactions open-market sales?

No. The transactions are coded F and described as payment of tax liability by withholding shares. Footnotes state the Class A Common Stock was withheld by APPFOLIO INC to cover minimum tax withholding arising from vesting RSU and PSU awards.

At what price were APPF shares valued for Elizabeth Erin Barat’s tax-withholding transactions?

The transactions report a price of $199.54 per share for APPF Class A Common Stock. This price is used in multiple code F entries where shares were withheld by the issuer to satisfy the reporting person’s minimum tax withholding obligations.

Was Elizabeth Erin Barat’s APPF Form 4 filed under a Rule 10b5-1 trading plan?

The filing indicates the Rule 10b5-1 checkbox is not marked, and there is no footnote stating the transactions were executed under a trading plan. The reported activity reflects tax withholding on equity award vesting, not a pre-arranged sale program.

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

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Accepted by SEC EDGAR 08/12/2026 - 05:50 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^*

Barat Elizabeth Erin

(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)
	Chief People Officer

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		300⁽¹⁾	D	$199.54	21,245	D
Class A Common Stock	08/10/2026		F		269⁽²⁾	D	$199.54	20,976	D
Class A Common Stock	08/10/2026		F		142⁽³⁾	D	$199.54	20,834	D
Class A Common Stock	08/10/2026		F		102⁽⁴⁾	D	$199.54	20,732	D
Class A Common Stock	08/10/2026		F		110⁽⁵⁾	D	$199.54	20,622	D
Class A Common Stock	08/10/2026		F		147⁽⁵⁾	D	$199.54	20,475	D
Class A Common Stock	08/10/2026		F		88⁽⁶⁾	D	$199.54	20,387	D
Class A Common Stock	08/10/2026		F		86⁽⁷⁾	D	$199.54	20,301	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 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 PSUs previously granted to the Reporting Person on January 24, 2024 pursuant to the Issuer's 2015 Stock Incentive 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 time-based restricted stock units ("RSUs") previously granted to the Reporting Person on January 27, 2026 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 January 28, 2025 pursuant to the Issuer's 2025 Omnibus 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 January 23, 2024 pursuant to the Issuer's 2015 Stock Incentive Plan.

6. 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 April 25, 2023 pursuant to the Issuer's 2015 Stock Incentive Plan.

7. 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 24, 2023 pursuant to the Issuer's 2015 Stock Incentive Plan.

Remarks:

	/s/ Heather Peterson, as Attorney-in-Fact for Elizabeth Barat	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