Large owner Duca Maurice J sold $1,581,404 worth of shares (5,600 units at $282.39), decreasing direct ownership by 4% to 68,295 units (SEC Form 4)
$APPF
Computer Software: Prepackaged Software
Technology
| 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 |
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| Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). | |||||||||||||||||
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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*
(Street)
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2. Issuer Name and Ticker or Trading Symbol
APPFOLIO INC [ APPF ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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3. Date of Earliest Transaction
(Month/Day/Year) 08/11/2025 | ||||||||||||||||||||||||||
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4. If Amendment, Date of Original Filed
(Month/Day/Year) |
6. Individual or Joint/Group Filing (Check Applicable Line)
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| Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ||||||||||
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| 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) | |||
| Code | V | Amount | (A) or (D) | Price | ||||||
| Class A Common Stock | 08/11/2025 | S(1) | 700 | D | $280.19(2) | 70,095 | D | |||
| Class A Common Stock | 08/11/2025 | S(1) | 500 | D | $281.03(3) | 69,595 | D | |||
| Class A Common Stock | 08/11/2025 | S(1) | 500 | D | $282.42(4) | 69,095 | D | |||
| Class A Common Stock | 08/11/2025 | S(1) | 300 | D | $283.32(5) | 68,795 | D | |||
| Class A Common Stock | 08/11/2025 | S(1) | 200 | D | $284.2 | 68,595 | D | |||
| Class A Common Stock | 08/11/2025 | S(1) | 200 | D | $286.3 | 68,395 | D | |||
| Class A Common Stock | 08/11/2025 | S(1) | 100 | D | $289.3 | 68,295 | D | |||
| Class A Common Stock | 08/11/2025 | S(1) | 792 | D | $280.84(6) | 48,408 | I | By Family Trust | ||
| Class A Common Stock | 08/11/2025 | S(1) | 312 | D | $282.01(7) | 48,096 | I | By Family Trust | ||
| Class A Common Stock | 08/11/2025 | S(1) | 496 | D | $283.24(8) | 47,600 | I | By Family Trust | ||
| Class A Common Stock | 08/11/2025 | S(1) | 200 | D | $286.74(9) | 47,400 | I | By Family Trust | ||
| Class A Common Stock | 08/11/2025 | S(1) | 200 | D | $280.15(10) | 37,000 | I | By Pension Trust(11) | ||
| Class A Common Stock | 08/11/2025 | S(1) | 681 | D | $282.31(12) | 36,319 | I | By Pension Trust(11) | ||
| Class A Common Stock | 08/11/2025 | S(1) | 271 | D | $283.54(13) | 36,048 | I | By Pension Trust(11) | ||
| Class A Common Stock | 08/11/2025 | S(1) | 148 | D | $284.8 | 35,900 | I | By Pension Trust(11) | ||
| Class A Common Stock | 26,667 | I | By IGSB Cardinal I, LLC(14) | |||||||
| Class A Common Stock | 142,857 | I | By IGSB Gaucho Fund I, LLC(15) | |||||||
| Class A Common Stock | 9,805 | I | By IGSB Cardinal Core BV, LLC(16) | |||||||
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
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| 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) | ||||
| Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
| Explanation of Responses: |
| 1. Sales made pursuant to a 10(b)5-1 trading plan previously adopted by the Reporting Person on December 13, 2024. |
| 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 $279.62 to $280.60, 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 $280.75 to $281.24, 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 $281.96 to $282.87, 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 $283.20 to $283.55, 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 $280.45 to $281.29, 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. This price reflects the weighted average price at which these shares were sold. The shares were sold in multiple transactions at prices ranging from $281.64 to $282.21, 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. |
| 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 $282.89 to $283.69, 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 $286.29 to $287.18, 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 $280.13 to $280.26, 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. 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. |
| 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 $281.98 to $282.93, 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 $283.50 to $283.95, 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. 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. |
| 15. 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. |
| 16. 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. |
| /s/ Kimberly Shea, Attorney-in-Fact for Maurice J. Duca | 08/12/2025 | |
| ** 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. | ||