AppFolio insider Maurice Duca sells 11,387 shares
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Form Type
4
Rhea-AI Filing Summary
AppFolio Inc. insider Maurice J. Duca, a more-than-10% owner, reported sales of 11,387 shares of Class A Common Stock on July 15–16, 2026 at weighted-average prices around $180–$182 per share, executed under a Rule 10b5-1 trading plan adopted on March 13, 2026.
Sales were made from Duca’s direct holdings, from a family trust, and from a pension trust for which he has voting and dispositive power but no pecuniary interest, while additional trusts and LLCs are reported as indirect holdings with disclaimed beneficial ownership.
Insider Trade Summary 10b5-1
Net Seller: 11,387 shares
Net Sell
12 txns
Insider
DUCA MAURICE J
Role
10% Owner
Sold
11,387 shs ($2.06M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Class A Common Stock F1, F4 | 3,128 | $180.32 | $564K |
| Sale | Class A Common Stock F1, F5 | 372 | $181.40 | $67K |
| Sale | Class A Common Stock F1 | 1,600 | $180.00 | $288K |
| Sale | Class A Common Stock F1, F6, F3 | 3,200 | $180.34 | $577K |
| Sale | Class A Common Stock F1, F7, F3 | 2,400 | $181.95 | $437K |
| Sale | Class A Common Stock F1, F2 | 225 | $180.03 | $41K |
| Sale | Class A Common Stock F1, F2 | 102 | $180.03 | $18K |
| Sale | Class A Common Stock F1, F2, F3 | 360 | $180.03 | $65K |
| holding | Class A Common Stock F8 | -- | -- | -- |
| holding | Class A Common Stock F9 | -- | -- | -- |
| holding | Class A Common Stock F10 | -- | -- | -- |
| holding | Class A Common Stock F11 | -- | -- | -- |
Holdings After Transaction:
Class A Common Stock — 85,180 shares (Direct);
Class A Common Stock — 38,998 shares (Indirect, By Family Trust);
Class A Common Stock — 136,240 shares (Indirect, By Pension Trust);
Class A Common Stock — 26,667 shares (Indirect, By IGSB Cardinal I, LLC);
Class A Common Stock — 142,857 shares (Indirect, By IGSB Gaucho Fund I, LLC);
Class A Common Stock — 9,805 shares (Indirect, By IGSB Cardinal Core BV, LLC);
Class A Common Stock — 7,022 shares (Indirect, By Charitable Remainder Trust)
Footnotes (11)
- 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 $180.00 to $180.095, 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. 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.
- 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 $180.00 to $180.78, 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 $181.31 to $181.48, 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 $180.00 to $180.77, 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 $181.47 to $182.23, 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 Class A Shares are owned by IGSB Cardinal I, LLC, a limited liability company, of which the Reporting Person is the managing member. In that capacity, the Reporting Person possesses sole voting and dispositive power over these Class A Shares. However, the Reporting Person disclaims beneficial ownership in these Class A Shares, except to the extent of any pecuniary interest he may have therein.
- F9. These Class A Shares are owned by IGSB Gaucho Fund I, LLC, a limited liability company, of which the Reporting Person is the managing member. In that capacity, the Reporting Person possesses sole voting and dispositive power over these Class A Shares. However, the Reporting Person disclaims beneficial ownership in these Class A Shares, except to the extent of any pecuniary interest he may have therein.
- F10. These Class A Shares are owned by IGSB Cardinal Core BV, LLC, a limited liability company, of which the Reporting Person is the managing member. In that capacity, the Reporting Person possesses sole voting and dispositive power over these Class A Shares, but he disclaims beneficial ownership in these Class A Shares, except to the extent of any pecuniary interest he may have therein.
- F11. These Class A Shares are held by a trust of which the Reporting Person is a co-trustee and, in that capacity, he may be deemed to share voting and dispositive power over these Class A Shares with the other trustee. However, the Reporting Person does not have a pecuniary interest in, and he disclaims beneficial ownership of, these Class A Shares.
Key Figures
Shares sold: 11,387 shares
Sale price range: $180.00–$182.23 per share
Rule 10b5-1 plan adoption date: March 13, 2026
+3 more
6 metrics
Shares sold
11,387 shares
Aggregate AppFolio Class A Common Stock sold on July 15–16, 2026
Sale price range
$180.00–$182.23 per share
Price range across multiple sale transactions as described in footnotes F2–F7
Rule 10b5-1 plan adoption date
March 13, 2026
Date the reporting person adopted the trading plan governing these sales
Pension trust holdings after sale
136,240 shares
Class A shares held by a pension trust after a July 16, 2026 sale; no pecuniary interest
Family trust holdings after sale
38,998 shares
Class A shares held by a family trust after a July 16, 2026 sale
Direct holdings after one sale
85,552 shares
Direct Class A Common Stock position following a July 16, 2026 sale at $180.32
Key Terms
Rule 10b5-1 trading plan, weighted average price, pecuniary interest, disclaims beneficial ownership, +2 more
6 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."
disclaims beneficial ownership financial
"the Reporting Person disclaims beneficial ownership in these Class A Shares, except to the extent"
Charitable Remainder Trust financial
"These Class A Shares are held by a trust of which the Reporting Person is a co-trustee"
pension trust financial
"These shares of Class A Common Stock are held by a pension trust of which the Reporting Person is the sole trustee"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider stock sales did Maurice J. Duca report for APPF?
Maurice J. Duca reported selling 11,387 AppFolio Class A shares on July 15–16, 2026. The sales occurred in multiple open-market transactions at weighted-average prices around $180–$182 per share, according to the Form 4 and its accompanying price-range footnotes.
What sale prices were reported for Maurice J. Duca’s APPF transactions?
Reported per-share prices range from $180.00 to $182.23 across the sale footnotes. Each transaction lists a weighted-average price, with underlying individual trades executed within specific price bands detailed in footnotes F2 through F7 to the Form 4.
How much APPF stock is held through Maurice J. Duca’s pension and family trusts?
After the reported sales, a pension trust holds 136,240 Class A shares and a family trust holds 38,998 shares. Duca has voting control over the pension trust but no pecuniary interest, while the family trust holdings are reported as indirect ownership.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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