Appfolio SEC Filings

AppFolio, Inc. filed a Form 144 to notify a proposed sale of 667 shares of its common stock through Morgan Stanley Smith Barney. The filing lists an aggregate market value of $184,478.86 for the shares and reports 35,853,028 shares outstanding. The proposed sale date is 08/25/2025. The shares were acquired as restricted stock from the issuer on 08/10/2025 and payment was recorded on that date. The filer states there are no securities sold by the filer in the past three months and affirms they are not aware of any undisclosed material adverse information about the issuer.

AppFolio, Inc. (APPF) filed a Form 144 notifying the proposed sale of 30,000 Class A shares through J.P. Morgan Securities LLC on 08/25/2025. The filing reports an aggregate market value of $8,259,600 and states the company has 22,871,704 shares outstanding, indicating the notice relates to a relatively small portion of total outstanding shares.

The shares were acquired on 06/26/2015 as carried interest from Duca Fund 12, LLC, with consideration recorded as paid on the acquisition date. The filer reports no sales of the issuer's securities in the past three months and includes the standard representation that no undisclosed material adverse information is known.

William Shane Trigg, who is listed as Chief Executive Officer and a Director of AppFolio, Inc. (APPF), reported a sale of 3,012 shares of Class A common stock on 08/15/2025 at a price of $264.98 per share. The filing states the sale was made pursuant to a Rule 10b5-1 plan adopted on or around May 10, 2024. Following the reported transaction, the reporting person beneficially owned 63,556 shares. The Form 4 was executed by an attorney-in-fact and dated 08/19/2025. The form indicates the reporting person is both an officer (CEO) and a director.

Form 144 filed for AppFolio, Inc. (APPF) reports a proposed sale of 3,012 shares of Common Class A stock through broker The Charles Schwab Corporation with an aggregate market value of $798,120.00. The filing lists the number of shares outstanding as 22,871,704 and an approximate sale date of 08/15/2025. The shares were acquired as RSUs & PSUs with acquisition dates covering 12/13/2021–01/24/2024, and the specific acquisition date shown is 12/13/2021. The filer indicates no securities sold in the past three months and includes the standard representation that the seller is not aware of undisclosed material adverse information.

Ashe Capital Management, LP reports beneficial ownership of 1,331,260 shares of AppFolio Inc. Class A common stock, representing 5.8% of the class based on 22,871,704 shares outstanding. Ashe, a Delaware limited partnership and registered investment adviser, states it holds these shares in funds under its management and control and has sole voting and dispositive power over the reported shares. The filing includes a certification that the securities were acquired and are held in the ordinary course of business and were not acquired to change or influence control of the issuer.

Maurice J. Duca, a director of AppFolio (APPF), sold a total of 4,824 Class A shares on 08/12/2025 pursuant to a pre-established 10b5-1 trading plan adopted on December 13, 2024. The sales were executed in multiple transactions with weighted-average prices reported by lot between about $275.05 and $281.05; the footnotes disclose transaction price ranges from $275.00 to $281.07 and offer to provide detailed per-price breakdowns on request.

The filing shows Duca retains both direct and indirect holdings disclosed in the Form: several direct-holding lines appear (for example, a reported direct holding of 65,795 shares in one line), and substantial indirect holdings are held by a pension trust (35,376 shares) and IGSB-managed entities (26,667; 142,857; 9,805 shares). The filing also states that the reporting person disclaims beneficial ownership of certain LLC-held shares except for any pecuniary interest, and that the pension trust shares are controlled by him as sole trustee though he asserts no pecuniary interest in those trust-held shares.

Maurice J. Duca, a director of AppFolio, reported multiple sales of Class A common stock executed on 08/11/2025 under a pre-established 10b5-1 trading plan adopted on December 13, 2024. The reported transactions total 5,600 shares sold across a series of trades at prices reported in footnotes spanning approximately $279.62 to $289.30. After the transactions, the filing shows 68,295 shares held directly. The filing also discloses meaningful indirect holdings: family trust and pension trust positions and ownership by related IGSB entities, including 142,857 shares held by IGSB Gaucho Fund I, LLC. The pension trust shares are held by a trust for which Duca is sole trustee but for which he disclaims pecuniary interest.

AppFolio director Maurice J. Duca reported multiple dispositions of Class A common stock on 08/08/2025 executed pursuant to a pre-existing 10b5-1 trading plan adopted December 13, 2024. The Form 4 lists individual sales in multiple tranches (including 500, 100, 1,200, 400, 300, 200, 300, 702, 98, 200, 300, 200, 100, 700, 100 and 200 shares) with weighted-average prices and per-footnote price ranges that fall roughly between $283.21 and $290.59. The filing also discloses indirect holdings through affiliated entities and trusts, including IGSB Gaucho Fund I, LLC (142,857 shares), IGSB Cardinal I, LLC (26,667 shares), and IGSB Cardinal Core BV, LLC (9,805 shares), plus Class A shares held in a pension trust for which Duca is sole trustee but has no pecuniary interest. Footnotes state the reporter will provide transaction-level price details on request.

Matthew S. Mazza, Chief Trust Officer and director of AppFolio, had multiple equity awards vest on 08/10/2025 that triggered share withholding to satisfy tax obligations. The issuer withheld a total of 1,071 shares of Class A Common Stock at a per-share amount of $283.36. Following these withholdings, the reporting person beneficially owned 28,015 shares of Class A Common Stock.

The withheld shares related to performance-based restricted stock units and time-based restricted stock units granted under the Issuer's 2015 Stock Incentive Plan and the 2025 Omnibus Plan on the grant dates specified in the filing.