Were AppFolio CEO share sales executed in single or multiple trades?

Each line item represents sales executed in multiple trades within specified price ranges. The Form 4 footnotes explain that the prices reported are weighted-average sale prices, and detailed information on individual trades is available upon request to relevant parties.

AppFolio (APPF) CEO sells 6,963 shares in open-market trades

Filing Impact

(Very High)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

AppFolio, Inc. director and CEO William Shane Trigg reported selling shares of Class A Common Stock in a series of open-market transactions. On February 17, 2026, he sold a total of 6,963 shares at prices reflecting weighted averages for multiple trades in each bracket.

The reported sale prices ranged from about $166.60 to $179.29 per share across the different trades. After these sales, Trigg held 52,920 shares of AppFolio Class A Common Stock in direct ownership.

Insider Trade Summary

Net Seller: 6,963 shares ($1,181,858)

Net Sell 11 txns

Insider Trigg William Shane

Role Chief Executive Officer

Sold 6,963 shs ($1.18M)

Type	Security	Shares	Price	Value
Sale	Class A Common Stock	320	$167.04	$53K
Sale	Class A Common Stock	1,999	$168.21	$336K
Sale	Class A Common Stock	2,102	$168.98	$355K
Sale	Class A Common Stock	1,382	$170.12	$235K
Sale	Class A Common Stock	160	$170.86	$27K
Sale	Class A Common Stock	240	$172.25	$41K
Sale	Class A Common Stock	120	$173.22	$21K
Sale	Class A Common Stock	399	$174.59	$70K
Sale	Class A Common Stock	1	$175.10	$175.10
Sale	Class A Common Stock	120	$176.29	$21K
Sale	Class A Common Stock	120	$178.30	$21K

Holdings After Transaction: Class A Common Stock — 59,563 shares (Direct)

Footnotes (1)

This transaction was executed in multiple trades with sales prices ranging from $166.60 to $167.59. 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. This transaction was executed in multiple trades with sales prices ranging from $167.63 to $168.62. 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. This transaction was executed in multiple trades with sales prices ranging from $168.63 to $169.62. 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. This transaction was executed in multiple trades with sales prices ranging from $169.65 to $170.64. 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. This transaction was executed in multiple trades with sales prices ranging from $170.66 to $171.65. 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. This transaction was executed in multiple trades with sales prices ranging from $171.93 to $172.92. 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. This transaction was executed in multiple trades with sales prices ranging from $173.03 to $174.02. 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. This transaction was executed in multiple trades with sales prices ranging from $174.09 to $175.08. 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. This transaction was executed in multiple trades with sales prices ranging from $175.10 to $176.09. 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. This transaction was executed in multiple trades with sales prices ranging from $176.20 to $177.19. 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. This transaction was executed in multiple trades with sales prices ranging from $178.30 to $179.29. 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.

Form 4 Insider Transactions: What Each Field Means →

02/19/2026 - 06:12 PM

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^*

Trigg William Shane

(Last)

(First)

(Middle)

70 CASTILIAN DR

(Street)

SANTA BARBARA

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
X	Officer (give title below)	Other (specify below)
	Chief Executive Officer

3. Date of Earliest Transaction (Month/Day/Year)
02/17/2026

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)
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	02/17/2026		S		320	D	$167.04⁽¹⁾	59,563	D
Class A Common Stock	02/17/2026		S		1,999	D	$168.21⁽²⁾	57,564	D
Class A Common Stock	02/17/2026		S		2,102	D	$168.98⁽³⁾	55,462	D
Class A Common Stock	02/17/2026		S		1,382	D	$170.12⁽⁴⁾	54,080	D
Class A Common Stock	02/17/2026		S		160	D	$170.86⁽⁵⁾	53,920	D
Class A Common Stock	02/17/2026		S		240	D	$172.25⁽⁶⁾	53,680	D
Class A Common Stock	02/17/2026		S		120	D	$173.22⁽⁷⁾	53,560	D
Class A Common Stock	02/17/2026		S		399	D	$174.59⁽⁸⁾	53,161	D
Class A Common Stock	02/17/2026		S		1	D	$175.1⁽⁹⁾	53,160	D
Class A Common Stock	02/17/2026		S		120	D	$176.29⁽¹⁰⁾	53,040	D
Class A Common Stock	02/17/2026		S		120	D	$178.3⁽¹¹⁾	52,920	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. This transaction was executed in multiple trades with sales prices ranging from $166.60 to $167.59. 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.

2. This transaction was executed in multiple trades with sales prices ranging from $167.63 to $168.62. 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.

3. This transaction was executed in multiple trades with sales prices ranging from $168.63 to $169.62. 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.

4. This transaction was executed in multiple trades with sales prices ranging from $169.65 to $170.64. 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.

5. This transaction was executed in multiple trades with sales prices ranging from $170.66 to $171.65. 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.

6. This transaction was executed in multiple trades with sales prices ranging from $171.93 to $172.92. 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.

7. This transaction was executed in multiple trades with sales prices ranging from $173.03 to $174.02. 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.

8. This transaction was executed in multiple trades with sales prices ranging from $174.09 to $175.08. 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.

9. This transaction was executed in multiple trades with sales prices ranging from $175.10 to $176.09. 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.

10. This transaction was executed in multiple trades with sales prices ranging from $176.20 to $177.19. 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.

11. This transaction was executed in multiple trades with sales prices ranging from $178.30 to $179.29. 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/ Evan Pickering, as Attorney-in-Fact, for William Shane Trigg	02/19/2026
	** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did AppFolio (APPF) disclose for its CEO?

AppFolio disclosed that CEO and director William Shane Trigg sold 6,963 shares of Class A Common Stock in open-market transactions on February 17, 2026, at various weighted-average prices, and continued to hold 52,920 shares directly after the reported sales.

How many AppFolio Class A shares did the CEO sell and at what prices?

The CEO sold 6,963 AppFolio Class A Common shares in multiple open-market trades. Reported weighted-average sale prices for the trades fell within ranges from about $166.60 up to $179.29 per share, based on the detailed price brackets in the footnotes.

How many AppFolio (APPF) shares does the CEO own after this Form 4?

After the reported February 17, 2026 transactions, CEO William Shane Trigg directly owned 52,920 shares of AppFolio Class A Common Stock. This figure reflects his holdings immediately following the cumulative open-market sales disclosed in the Form 4.

What type of transaction code was used in the AppFolio CEO Form 4?

Each transaction in the Form 4 uses code “S,” indicating sales in the open market or private transactions. The filing classifies these as non-derivative transactions involving Class A Common Stock, with the CEO as the direct owner of the sold shares.