AppFolio (APPF) holder Maurice Duca logs 6,693-share sale under 10b5-1 plan
Rhea-AI Filing Summary
APPFOLIO INC major stockholder Maurice J. Duca, through family and pension trusts, reported sales of 6,693 shares of Class A Common Stock on August 13, 2026, at prices generally between about $194.54 and $206.10 per share. The sales were made pursuant to a Rule 10b5-1 trading plan adopted on March 13, 2026. Some shares were sold by a pension trust for which Duca has voting and dispositive power but no pecuniary interest, and the filing also reports indirect holdings in several LLCs and a charitable remainder trust.
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Insights
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Insider Trade Summary 10b5-1
Net Seller: 6,693 shares
Net Sell
22 txns
Insider
DUCA MAURICE J
Role
10% Owner
Sold
6,693 shs ($1.33M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Class A Common Stock F1, F2 | 315 | $196.28 | $62K |
| Sale | Class A Common Stock F1, F3 | 164 | $197.29 | $32K |
| Sale | Class A Common Stock F1, F4 | 134 | $198.37 | $27K |
| Sale | Class A Common Stock F1 | 15 | $199.81 | $3K |
| Sale | Class A Common Stock F1, F5 | 60 | $201.82 | $12K |
| Sale | Class A Common Stock F1, F6 | 90 | $204.08 | $18K |
| Sale | Class A Common Stock F1, F7 | 150 | $204.88 | $31K |
| Sale | Class A Common Stock F1, F8 | 165 | $206.10 | $34K |
| Sale | Class A Common Stock F1, F9, F10 | 919 | $194.54 | $179K |
| Sale | Class A Common Stock F1, F11, F10 | 866 | $195.62 | $169K |
| Sale | Class A Common Stock F1, F2, F10 | 1,100 | $196.28 | $216K |
| Sale | Class A Common Stock F1, F3, F10 | 576 | $197.29 | $114K |
| Sale | Class A Common Stock F1, F4, F10 | 469 | $198.36 | $93K |
| Sale | Class A Common Stock F1, F12, F10 | 53 | $199.80 | $11K |
| Sale | Class A Common Stock F1, F5, F10 | 208 | $201.82 | $42K |
| Sale | Class A Common Stock F1, F6, F10 | 314 | $204.08 | $64K |
| Sale | Class A Common Stock F1, F7, F10 | 523 | $204.88 | $107K |
| Sale | Class A Common Stock F1, F8, F10 | 572 | $206.10 | $118K |
| holding | Class A Common Stock F13 | -- | -- | -- |
| holding | Class A Common Stock F14 | -- | -- | -- |
| holding | Class A Common Stock F15 | -- | -- | -- |
| holding | Class A Common Stock F16 | -- | -- | -- |
Holdings After Transaction:
Class A Common Stock — 16,224 shares (Indirect, By Family Trust);
Class A Common Stock — 61,932 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 (16)
- 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 $195.95 to $196.72, 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 $197.02 to $197.88, 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.
- 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 $198.05 to $198.93, 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.
- 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 $201.25 to $202.17, 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 $203.50 to $204.48, 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.
- 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 $204.61 to $205.35, 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. This price reflects the weighted average price at which these shares were sold. The shares were sold in multiple transactions at prices ranging from $205.61 to $206.52, 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.
- 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 $193.95 to $194.92, 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.
- F10. 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.
- 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 $194.95 to $195.94, 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 $199.20 to $199.81, 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.
- F13. 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.
- F14. 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.
- F15. 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.
- F16. 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: 6,693 shares
Lowest reported sale price: $194.54 per share
Highest reported sale price: $206.10 per share
+3 more
6 metrics
Shares sold
6,693 shares
Total Class A Common Stock sold on August 13, 2026 by related trusts
Lowest reported sale price
$194.54 per share
Weighted-average sale price in one transaction block on August 13, 2026
Highest reported sale price
$206.10 per share
Per-share sale price in one transaction block on August 13, 2026
IGSB Cardinal I, LLC holdings
26,667 shares
Indirect Class A holdings reported as of August 12, 2026, with beneficial ownership disclaimed except for pecuniary interest
IGSB Gaucho Fund I, LLC holdings
142,857 shares
Indirect Class A holdings reported as of August 12, 2026, with beneficial ownership disclaimed except for pecuniary interest
Charitable remainder trust holdings
7,022 shares
Indirect Class A holdings where Duca has no pecuniary interest
Key Terms
Rule 10b5-1 trading plan, weighted average price, pecuniary interest, dispositive power, +1 more
5 terms
Rule 10b5-1 trading plan regulatory
"Sales made pursuant to a 10b5-1 trading plan previously adopted"
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"
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"
dispositive power financial
"possesses sole voting and sole dispositive power over these Class A Shares"
Dispositive power is the authority to decide the final outcome of an asset, legal claim, contract, or corporate action — in effect the power to dispose of or resolve something. For investors it matters because whoever holds that authority can determine who gets paid, who controls an asset or vote, and how risks and returns are allocated; think of it like holding the key that lets you lock in the winner or loser in a deal.
beneficial ownership financial
"the Reporting Person disclaims beneficial ownership in these Class A Shares"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
FAQ
What did APPF (AppFolio Inc) insider Maurice J. Duca report in this Form 4?
Maurice J. Duca reported selling 6,693 shares of AppFolio Class A Common Stock on August 13, 2026 through family and pension trusts, under a pre-established Rule 10b5-1 trading plan.
Were the APPF stock sales by Maurice J. Duca under a Rule 10b5-1 plan?
Yes. The filing states the sales were made pursuant to a Rule 10b5-1 trading plan previously adopted by Maurice J. Duca on March 13, 2026, indicating the trades followed a pre-arranged schedule.
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