Were Evan Pickering’s APPF share sales executed in a single trade or multiple trades?

The sales were executed in multiple trades grouped into four reported transactions. Each transaction’s price reflects a weighted-average of numerous underlying trades within stated price ranges, which spanned from $153.01 to $157.71 per share according to the footnotes.

Appfolio (APPF) General Counsel sells 660 Class A shares in open-market trades

Filing Impact

(Moderate)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

Appfolio Inc. General Counsel Evan Pickering reported open-market sales of a total of 660 shares of Class A Common Stock on June 12, 2026. The shares were sold in four trades at reported prices of $156.87, $155.94, $154.76, and $153.38 per share, with underlying trade prices ranging from $153.01 to $157.71 based on weighted-average disclosures.

Insider Trade Summary 10b5-1

Net Seller: 660 shares ($102,462)

Net Sell 4 txns

Insider Pickering Evan

Role General Counsel

Sold 660 shs ($102K)

Type	Security	Shares	Price	Value
Sale	Class A Common Stock	160	$153.38	$25K
Sale	Class A Common Stock	199	$154.76	$31K
Sale	Class A Common Stock	101	$155.94	$16K
Sale	Class A Common Stock	200	$156.87	$31K

Holdings After Transaction: Class A Common Stock — 7,055 shares (Direct, null)

Footnotes (1)

This transaction was executed in multiple trades with sales prices ranging from $153.01 to $154.00. 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 $154.11 to $155.10. 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 $155.22 to $156.21. 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 $156.72 to $157.71. 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.

Key Figures

Total shares sold: 660 shares Sale price block 1: $156.87 per share Sale price block 2: $155.94 per share +3 more

6 metrics

Total shares sold 660 shares Aggregate open-market sales on June 12, 2026

Sale price block 1 $156.87 per share Open-market sale of 200 shares on June 12, 2026

Sale price block 2 $155.94 per share Open-market sale of 101 shares on June 12, 2026

Sale price block 3 $154.76 per share Open-market sale of 199 shares on June 12, 2026

Sale price block 4 $153.38 per share Open-market sale of 160 shares on June 12, 2026

Footnote price ranges $153.01–$157.71 per share Weighted-average price ranges across multiple trades

Key Terms

Class A Common Stock, open-market sale, weighted average sales price, Form 4

4 terms

Class A Common Stock financial

"reported open-market sales of a total of 660 shares of Class A Common Stock"

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.

open-market sale financial

"transaction_action "open-market sale" with transaction code "S""

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

weighted average sales price financial

"The price reported above reflects the weighted average sales price for the cumulative trades."

Form 4 regulatory

"according to the Form 4 filing"

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

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Form 4 Insider Transactions: What Each Field Means →

06/15/2026 - 07:18 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^*

Pickering Evan

(Last)

(First)

(Middle)

70 CASTILIAN DRIVE

(Street)

SANTA BARBARA

CALIFORNIA

93117

(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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/12/2026

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

X	Form 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)
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	06/12/2026		S		160	D	$153.38⁽¹⁾	7,055	D
Class A Common Stock	06/12/2026		S		199	D	$154.76⁽²⁾	6,856	D
Class A Common Stock	06/12/2026		S		101	D	$155.94⁽³⁾	6,755	D
Class A Common Stock	06/12/2026		S		200	D	$156.87⁽⁴⁾	6,555	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 $153.01 to $154.00. 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 $154.11 to $155.10. 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 $155.22 to $156.21. 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 $156.72 to $157.71. 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/ Heather Peterson, as Attorney-in-Fact, for Evan Pickering	06/15/2026
	** 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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did APPF General Counsel Evan Pickering report?

Evan Pickering reported selling 660 shares of Appfolio (APPF) Class A Common Stock in open-market transactions. The trades occurred on June 12, 2026, and were executed in multiple blocks at weighted-average prices disclosed in the Form 4 filing.

How many APPF shares did Evan Pickering sell and on what date?

Evan Pickering sold 660 shares of Appfolio (APPF) Class A Common Stock on June 12, 2026. The sale was split across four separate open-market transactions, each reported with its own weighted-average price per share.

At what prices were Evan Pickering’s APPF shares sold?

The reported weighted-average prices were $156.87, $155.94, $154.76, and $153.38 per share. Footnotes state the underlying trades were executed in ranges from $153.01 up to $157.71, with the averages calculated across multiple individual trades.

What type of transaction code was used in the APPF Form 4 for Evan Pickering?

The Form 4 for Appfolio (APPF) lists transaction code “S” for Evan Pickering’s trades. Code S indicates a sale in the open market or a private transaction, confirming these were sell transactions rather than option exercises, grants, or gifts.