AppFolio (APPF) major holder Maurice Duca sells 15,591 shares via 10b5-1 plan
Rhea-AI Filing Summary
Maurice J. Duca, a ten percent owner of AppFolio Inc., reported sales of 15,591 shares of Class A Common Stock on August 6–7, 2026. The open-market transactions, executed at prices around $189–$204 per share, were made pursuant to a Rule 10b5-1 trading plan adopted on March 13, 2026 and include both directly held shares, shares held by a family trust, and shares held by a pension trust over which he has voting and dispositive power but no pecuniary interest.
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Insights
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Insider Trade Summary 10b5-1
Net Seller: 15,591 shares
Net Sell
30 txns
Insider
DUCA MAURICE J
Role
10% Owner
Sold
15,591 shs ($3.03M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Class A Common Stock F1, F11 | 431 | $195.61 | $84K |
| Sale | Class A Common Stock F1, F12 | 552 | $196.32 | $108K |
| Sale | Class A Common Stock F1, F13 | 650 | $197.46 | $128K |
| Sale | Class A Common Stock F1, F14 | 784 | $198.62 | $156K |
| Sale | Class A Common Stock F1, F15 | 493 | $199.41 | $98K |
| Sale | Class A Common Stock F1, F16 | 130 | $200.56 | $26K |
| Sale | Class A Common Stock F1, F17 | 229 | $201.37 | $46K |
| Sale | Class A Common Stock F1, F18 | 165 | $202.47 | $33K |
| Sale | Class A Common Stock F1, F19 | 66 | $203.55 | $13K |
| Sale | Class A Common Stock F1, F11 | 196 | $195.61 | $38K |
| Sale | Class A Common Stock F1, F12 | 253 | $196.32 | $50K |
| Sale | Class A Common Stock F1, F13 | 298 | $197.46 | $59K |
| Sale | Class A Common Stock F1, F14 | 359 | $198.62 | $71K |
| Sale | Class A Common Stock F1, F15 | 225 | $199.41 | $45K |
| Sale | Class A Common Stock F1, F16 | 60 | $200.56 | $12K |
| Sale | Class A Common Stock F1, F2 | 120 | $189.49 | $23K |
| Sale | Class A Common Stock F1, F3 | 339 | $190.40 | $65K |
| Sale | Class A Common Stock F1, F4 | 229 | $191.88 | $44K |
| Sale | Class A Common Stock F1, F5 | 1,429 | $193.18 | $276K |
| Sale | Class A Common Stock F1, F6 | 1,383 | $194.06 | $268K |
| Sale | Class A Common Stock F1, F2 | 54 | $189.49 | $10K |
| Sale | Class A Common Stock F1, F3 | 155 | $190.40 | $30K |
| Sale | Class A Common Stock F1, F4 | 105 | $191.89 | $20K |
| Sale | Class A Common Stock F1, F5 | 655 | $193.18 | $127K |
| Sale | Class A Common Stock F1, F6 | 631 | $194.06 | $122K |
| Sale | Class A Common Stock F1, F7, F8 | 193 | $189.49 | $37K |
| Sale | Class A Common Stock F1, F3, F8 | 539 | $190.40 | $103K |
| Sale | Class A Common Stock F1, F4, F8 | 365 | $191.88 | $70K |
| Sale | Class A Common Stock F1, F9, F8 | 2,082 | $193.14 | $402K |
| Sale | Class A Common Stock F1, F10, F8 | 2,421 | $194.02 | $470K |
Holdings After Transaction:
Class A Common Stock — 89,932 shares (Indirect, By Pension Trust);
Class A Common Stock — 52,662 shares (Direct);
Class A Common Stock — 22,833 shares (Indirect, By Family Trust)
Footnotes (19)
- F1. Sales made pursuant to a 10b5-1 trading plan previously adopted by the Reporting Person on March 13, 2026.
- F2. This price reflects the weighted average price at which these shares were sold. The shares were sold in multiple transactions at prices ranging from $188.91 to $189.88, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- F3. This price reflects the weighted average price at which these shares were sold. The shares were sold in multiple transactions at prices ranging from $190.00 to $190.865, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- F4. This price reflects the weighted average price at which these shares were sold. The shares were sold in multiple transactions at prices ranging from $191.52 to $192.51, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- F5. This price reflects the weighted average price at which these shares were sold. The shares were sold in multiple transactions at prices ranging from $192.62 to $193.61, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- F6. This price reflects the weighted average price at which these shares were sold. The shares were sold in multiple transactions at prices ranging from $193.67 to $194.42, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- F7. This price reflects the weighted average price at which these shares were sold. The shares were sold in multiple transactions at prices ranging from $188.91 to $189.89, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- F8. These shares of Class A Common Stock ("Class A Shares") are held by a pension trust of which the Reporting Person is the sole trustee and who, in that capacity, possesses sole voting and sole dispositive power over these Class A Shares. However, the Reporting Person does not possess any pecuniary interest in these Class A Shares.
- F9. This price reflects the weighted average price at which these shares were sold. The shares were sold in multiple transactions at prices ranging from $192.53 to $193.52, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- F10. This price reflects the weighted average price at which these shares were sold. The shares were sold in multiple transactions at prices ranging from $193.54 to $194.42, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- F11. This price reflects the weighted average price at which these shares were sold. The shares were sold in multiple transactions at prices ranging from $194.94 to $195.93, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- F12. This price reflects the weighted average price at which these shares were sold. The shares were sold in multiple transactions at prices ranging from $195.96 to $196.91, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- F13. This price reflects the weighted average price at which these shares were sold. The shares were sold in multiple transactions at prices ranging from $196.995 to $197.90, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- F14. This price reflects the weighted average price at which these shares were sold. The shares were sold in multiple transactions at prices ranging from $198.00 to $198.88, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- F15. This price reflects the weighted average price at which these shares were sold. The shares were sold in multiple transactions at prices ranging from $199.03 to $199.98, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- F16. This price reflects the weighted average price at which these shares were sold. The shares were sold in multiple transactions at prices ranging from $200.12 to $200.81, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- F17. This price reflects the weighted average price at which these shares were sold. The shares were sold in multiple transactions at prices ranging from $201.12 to $201.92, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- F18. This price reflects the weighted average price at which these shares were sold. The shares were sold in multiple transactions at prices ranging from $202.20 to $202.97, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- F19. This price reflects the weighted average price at which these shares were sold. The shares were sold in multiple transactions at prices ranging from $203.34 to $203.75, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
Key Figures
Total shares sold: 15,591 shares
Representative sale price low: $189.49 per share
Representative sale price high: $203.55 per share
+2 more
5 metrics
Total shares sold
15,591 shares
Aggregate of 30 sale transactions reported for August 6–7, 2026
Representative sale price low
$189.49 per share
One of the reported per-share sale prices on August 6, 2026
Representative sale price high
$203.55 per share
One of the reported per-share sale prices on August 7, 2026
Largest single block sold
2,421 shares
Indirect sale by Pension Trust at $194.02 per share on August 6, 2026
10b5-1 plan adoption date
March 13, 2026
Date Maurice J. Duca adopted the trading plan governing these sales
Key Terms
Rule 10b5-1 trading plan, weighted average price, pecuniary interest, pension trust, +1 more
5 terms
Rule 10b5-1 trading plan regulatory
"Sales made pursuant to a 10b5-1 trading plan previously adopted by the Reporting Person"
A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.
weighted average price financial
"This price reflects the weighted average price at which these shares were sold"
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
pecuniary interest financial
"However, the Reporting Person does not possess any pecuniary interest in these Class A Shares"
pension trust financial
"These shares of Class A Common Stock are held by a pension trust"
Class A Common Stock financial
"These shares of Class A Common Stock ("Class A Shares") are held by a pension trust"
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.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What did Maurice J. Duca report in this Form 4 for APPF?
Maurice J. Duca reported 30 open-market sales totaling 15,591 shares of AppFolio Class A Common Stock on August 6–7, 2026 under a Rule 10b5-1 trading plan adopted March 13, 2026, at prices around $189–$204 per share.
Were the APPF insider sales made under a Rule 10b5-1 plan?
Yes. The sales were made pursuant to a Rule 10b5-1 trading plan that Maurice J. Duca previously adopted on March 13, 2026. Such trading plans pre-establish sale parameters, reducing the significance of trade timing as an informational signal.
What role did trusts play in the APPF insider transactions?
Some APPF shares were sold by a family trust and a pension trust associated with Maurice J. Duca. For the pension trust, he is sole trustee with voting and dispositive power but has no pecuniary interest in the Class A shares held there.
Does this Form 4 disclose Maurice J. Duca’s remaining APPF holdings?
This Form 4 details shares sold but does not state a consolidated post-transaction share balance for Maurice J. Duca. Some individual transaction rows omit holdings after the trade, so remaining ownership is not fully quantified here.