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  4. [Form 4] APPFOLIO INC Insider Trading Activity

AppFolio (APPF) holder Maurice J. Duca sells 14,707 shares under 10b5-1 plan

Filing Impact
(Very High)
Filing Sentiment
(Negative)
Form Type
4

Rhea-AI Filing Summary

APPFOLIO INC reporting person Maurice J. Duca, a ten percent owner, reported 30 open-market sales of Class A Common Stock on August 12–13, 2026, totaling 14,707 shares. Sales were executed at prices generally between $193.95 and $206.52 per share pursuant to a Rule 10b5-1 trading plan adopted on March 13, 2026. Some shares were sold directly, with additional shares sold indirectly through a family trust and a pension trust; the pension trust sales involve shares over which he has voting and dispositive power but no pecuniary interest.

Positive

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Negative

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Insights

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Insider DUCA MAURICE J
Role 10% Owner
Sold 14,707 shs ($2.90M)
Type Security Shares Price Value
Sale Class A Common Stock F1, F8 578 $194.54 $112K
Sale Class A Common Stock F1, F9 540 $195.62 $106K
Sale Class A Common Stock F1, F10 675 $196.28 $132K
Sale Class A Common Stock F1, F11 360 $197.29 $71K
Sale Class A Common Stock F1, F12 295 $198.36 $59K
Sale Class A Common Stock F1 33 $199.81 $7K
Sale Class A Common Stock F1, F13 132 $201.82 $27K
Sale Class A Common Stock F1, F14 197 $204.07 $40K
Sale Class A Common Stock F1, F15 327 $204.88 $67K
Sale Class A Common Stock F16 363 $206.10 $75K
Sale Class A Common Stock F1, F8 261 $194.54 $51K
Sale Class A Common Stock F1, F9 246 $195.62 $48K
Sale Class A Common Stock F1, F2 467 $195.41 $91K
Sale Class A Common Stock F1, F3 1,453 $196.56 $286K
Sale Class A Common Stock F1, F4 1,229 $197.33 $243K
Sale Class A Common Stock F1, F5 220 $198.24 $44K
Sale Class A Common Stock F1, F6 98 $200.19 $20K
Sale Class A Common Stock F1 33 $201.04 $7K
Sale Class A Common Stock F1, F2 210 $195.42 $41K
Sale Class A Common Stock F1, F3 669 $196.56 $131K
Sale Class A Common Stock F1, F4 561 $197.33 $111K
Sale Class A Common Stock F1, F5 100 $198.24 $20K
Sale Class A Common Stock F1, F6 45 $200.20 $9K
Sale Class A Common Stock F1 15 $201.04 $3K
Sale Class A Common Stock F1, F2, F7 747 $195.41 $146K
Sale Class A Common Stock F1, F3, F7 2,328 $196.56 $458K
Sale Class A Common Stock F1, F4, F7 1,964 $197.33 $388K
Sale Class A Common Stock F1, F5, F7 352 $198.24 $70K
Sale Class A Common Stock F1, F6, F7 157 $200.20 $31K
Sale Class A Common Stock F1, F7 52 $201.04 $10K
Holdings After Transaction: Class A Common Stock — 67,532 shares (Indirect, By Pension Trust); Class A Common Stock — 38,662 shares (Direct); Class A Common Stock — 17,317 shares (Indirect, By Family Trust)
Footnotes (16)
  1. F1. Sales made pursuant to a 10b5-1 trading plan previously adopted by the Reporting Person on March 13, 2026.
  2. 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 $194.89 to $195.87, 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.
  3. 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 $195.92 to $196.90, 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.
  4. 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 $196.95 to $197.87, 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.
  5. 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 $198.025 to $198.51, 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.
  6. 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 $199.69 to $200.45, 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.
  7. F7. 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.
  8. 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 $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.
  9. 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 $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.
  10. 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 $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.
  11. 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 $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.
  12. 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 $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.
  13. 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 $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.
  14. 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 $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.
  15. 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 $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.
  16. 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 $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.
Shares sold 14,707 shares Total Class A Common Stock sold across 30 transactions on August 12–13, 2026
Number of sale transactions 30 Open-market or private sale transactions reported in this Form 4
Price range of sales $193.95–$206.52 per share Lowest and highest sale price ranges described in transaction footnotes
Net buy/sell direction Net sell of 14,707 shares Transaction summary shows net-sell activity with no purchases
10b5-1 plan adoption date March 13, 2026 Rule 10b5-1 trading plan under which the reported sales were made
Pension trust sales context No pecuniary interest Pension trust shares sold where Duca has voting/dispositive power but no pecuniary interest
Rule 10b5-1 trading plan financial
"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"
Class A Common Stock financial
"These shares of Class A Common Stock ("Class A Shares") are held"
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.
ten percent owner financial
"Reporting Person is indicated as a ten percent owner of the issuer"

FAQ

What insider activity did APPF (AppFolio Inc) report for Maurice J. Duca?
APPF reported that Maurice J. Duca, a ten percent owner, executed 30 open-market sales of Class A Common Stock on August 12–13, 2026, involving a total of 14,707 shares sold directly and through related trusts.

How many APPF shares did Maurice J. Duca sell and over what dates?
Across all reported transactions, entities associated with Maurice J. Duca sold 14,707 APPF shares. These 30 sales occurred over two consecutive trading days, August 12 and 13, 2026, in multiple small blocks at varying prices.

What price range did Maurice J. Duca’s APPF share sales occur at?
The reported transactions indicate sale prices generally between $193.95 and $206.52 per share. Individual line items use weighted average prices, with detailed breakdowns available for each price range upon request as described in the footnotes.

Were Maurice J. Duca’s APPF sales under a Rule 10b5-1 trading plan?
Yes. A footnote states the sales were made pursuant to a Rule 10b5-1 trading plan that Maurice J. Duca adopted on March 13, 2026, indicating the trades were pre-arranged under that plan.

Did trusts participate in the reported APPF share sales by Maurice J. Duca?
Yes. Some sales were reported as indirect, made by a family trust and by a pension trust. For the pension trust, Duca has sole voting and dispositive power but no pecuniary interest in those Class A shares, according to the footnotes.

Does the Form 4 show any APPF share purchases by Maurice J. Duca?
No. The transaction summary shows 0 purchases and 30 sales, with a net change of 14,707 shares sold. All reported transactions are coded as open-market or private sale transactions in Class A Common Stock.

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Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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).
X
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*
DUCA MAURICE J
(Last)(First)(Middle)
C/O IGSB, INC.
1485 E. VALLEY ROAD, SUITE H
(Street)
SANTA BARBARA CALIFORNIA 93108
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
APPFOLIO INC [ APPF ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
DirectorX10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
08/12/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

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)
CodeVAmount(A) or (D)Price
Class A Common Stock08/12/2026S(1)467D$195.41(2)45,195D
Class A Common Stock08/12/2026S(1)1,453D$196.56(3)43,742D
Class A Common Stock08/12/2026S(1)1,229D$197.33(4)42,513D
Class A Common Stock08/12/2026S(1)220D$198.24(5)42,293D
Class A Common Stock08/12/2026S(1)98D$200.19(6)42,195D
Class A Common Stock08/12/2026S(1)33D$201.0442,162D
Class A Common Stock08/12/2026S(1)210D$195.42(2)19,214IBy Family Trust
Class A Common Stock08/12/2026S(1)669D$196.56(3)18,545IBy Family Trust
Class A Common Stock08/12/2026S(1)561D$197.33(4)17,984IBy Family Trust
Class A Common Stock08/12/2026S(1)100D$198.24(5)17,884IBy Family Trust
Class A Common Stock08/12/2026S(1)45D$200.2(6)17,839IBy Family Trust
Class A Common Stock08/12/2026S(1)15D$201.0417,824IBy Family Trust
Class A Common Stock08/12/2026S(1)747D$195.41(2)72,385IBy Pension Trust(7)
Class A Common Stock08/12/2026S(1)2,328D$196.56(3)70,057IBy Pension Trust(7)
Class A Common Stock08/12/2026S(1)1,964D$197.33(4)68,093IBy Pension Trust(7)
Class A Common Stock08/12/2026S(1)352D$198.24(5)67,741IBy Pension Trust(7)
Class A Common Stock08/12/2026S(1)157D$200.2(6)67,584IBy Pension Trust(7)
Class A Common Stock08/12/2026S(1)52D$201.0467,532IBy Pension Trust(7)
Class A Common Stock08/13/2026S(1)578D$194.54(8)41,584D
Class A Common Stock08/13/2026S(1)540D$195.62(9)41,044D
Class A Common Stock08/13/2026S(1)675D$196.28(10)40,369D
Class A Common Stock08/13/2026S(1)360D$197.29(11)40,009D
Class A Common Stock08/13/2026S(1)295D$198.36(12)39,714D
Class A Common Stock08/13/2026S(1)33D$199.8139,681D
Class A Common Stock08/13/2026S(1)132D$201.82(13)39,549D
Class A Common Stock08/13/2026S(1)197D$204.07(14)39,352D
Class A Common Stock08/13/2026S(1)327D$204.88(15)39,025D
Class A Common Stock08/13/2026S363D$206.1(16)38,662D
Class A Common Stock08/13/2026S(1)261D$194.54(8)17,563IBy Family Trust
Class A Common Stock08/13/2026S(1)246D$195.62(9)17,317IBy Family Trust
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Explanation of Responses:
1. Sales made pursuant to a 10b5-1 trading plan previously adopted by the Reporting Person on March 13, 2026.
2. This price reflects the weighted average price at which these shares were sold. The shares were sold in multiple transactions at prices ranging from $194.89 to $195.87, 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.
3. This price reflects the weighted average price at which these shares were sold. The shares were sold in multiple transactions at prices ranging from $195.92 to $196.90, 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.
4. This price reflects the weighted average price at which these shares were sold. The shares were sold in multiple transactions at prices ranging from $196.95 to $197.87, 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.
5. This price reflects the weighted average price at which these shares were sold. The shares were sold in multiple transactions at prices ranging from $198.025 to $198.51, 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.
6. This price reflects the weighted average price at which these shares were sold. The shares were sold in multiple transactions at prices ranging from $199.69 to $200.45, 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.
7. 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.
8. 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.
9. 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.
10. 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.
11. 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.
12. 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.
13. 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.
14. 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.
15. 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.
16. 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.
Remarks:
Due to a 30 line-item limitation in Table I, this is the first of two Forms 4 filed by the Reporting Person on August 14, 2026.
/s/ Kimberly Shea, Attorney-in-Fact for Maurice J. Duca08/14/2026
** Signature of Reporting PersonDate
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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR