Director at AppFolio (APPF) awarded 1,248 restricted stock units in equity grant

Rhea-AI Filing Summary

Casey Saori reported acquisition or exercise transactions in this Form 4 filing.

AppFolio Inc. director Saori Casey reported an equity award of 1,248 shares of Class A common stock. The filing shows this was a grant of time-based restricted stock units with no cash paid per share. The RSUs vest 100% on the first anniversary of the grant date, meaning the director will receive the underlying shares in full after one year of continued service, aligning compensation with the company’s future performance.

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

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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^*

Casey Saori

(Last) (First) (Middle)

70 CASTILIAN DRIVE

(Street)

SANTA BARBARA CA 93117

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
APPFOLIO INC [ APPF ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

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

3. Date of Earliest Transaction (Month/Day/Year)
02/12/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

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)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	02/12/2026		A		1,248(1)	A	$0	1,248	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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Represents a grant of time-based restricted stock units ("RSUs") pursuant to the Issuer's 2025 Omnibus Incentive Plan. The RSUs vest 100% on the first anniversary of the date of grant.

Remarks:

	/s/ Evan Pickering, as Attorney-in-Fact, for Saori Casey	02/17/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What insider transaction did APPF director Saori Casey report on this Form 4?

Director Saori Casey reported receiving 1,248 shares of AppFolio Class A common stock through a grant of restricted stock units. This equity award reflects compensation in stock rather than cash, linking the director’s interests more closely to future company performance and share value.

Was the APPF Form 4 transaction a stock purchase or a grant of shares?

The Form 4 for APPF shows a grant of shares, not a purchase. It records an acquisition coded as a grant or award, with zero price per share, indicating the director received restricted stock units as part of an incentive plan rather than buying shares in the market.

How many AppFolio (APPF) shares were awarded to the director in this filing?

The director was awarded 1,248 shares of AppFolio Class A common stock through restricted stock units. After this grant, the director’s reported total holding for this award is 1,248 shares, which will be delivered according to the vesting schedule described in the incentive plan.

What is the vesting schedule for the APPF restricted stock units granted to the director?

The restricted stock units granted to the director vest 100% on the first anniversary of the grant date. This means the director must remain in service for one year to receive all underlying shares, encouraging ongoing alignment with AppFolio’s long-term goals and performance.

Under which plan were the AppFolio (APPF) RSUs to the director granted?

The RSUs were granted under AppFolio’s 2025 Omnibus Incentive Plan. This plan allows the company to grant equity-based awards to directors and others, using stock compensation to attract and retain talent while tying rewards to the company’s future share performance.