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Filing Details

Accession Number:: 0001209191-17-039865
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2017-06-14 17:16:11
Reporting Period:: 2017-06-12

Filing Date:: 2017-06-14
Accepted Time:: 2017-06-14 17:16:11
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1433195	Appfolio Inc	APPF	Services-Prepackaged Software (7372)	260359894

Insiders

Cik	Name	Reported Address	Director	Officer	Large Shareholder	Other
1621298	Dragoneer Global Fund Ii, L.p.	One Letterman Drive Building D, Suite M500 San Francisco CA 94129	No	No	Yes	No
1646303	Marc Stad	One Letterman Drive Building D, Suite M500 San Francisco CA 94129	No	No	Yes	No
1646430	Dragoneer Apartment, Llc	1 Letterman Drive Building D, Suite M500 San Francisco CA 94129	No	No	Yes	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Class A Common Stock	Acquisiton	2017-06-12	19,751	$0.00	25,780	No	4	C	Direct
Class A Common Stock	Acquisiton	2017-06-12	191,657	$0.00	1,941,233	No	4	C	Indirect	Refer to Footnote
Class A Common Stock	Disposition	2017-06-12	400,000	$30.00	1,541,233	No	4	S	Indirect	Refer to Footnote

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	C	Direct
No	4	C	Indirect	Refer to Footnote
No	4	S	Indirect	Refer to Footnote

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Class B Common Stock	Class B Common Stock	Disposition	2017-06-12	19,751	$0.00	19,751	$0.00
Class B Common Stock	Class B Common Stock	Disposition	2017-06-12	191,657	$0.00	191,657	$0.00

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
92,294			No	4	C	Direct
895,589			No	4	C	Indirect

Footnotes

Each share of Class B Common Stock is convertible, at any time at the option of the holder, into one share of Class A Common Stock. Effective June 12, 2017, 19,751 shares of Class B Common Stock were voluntarily converted by Mr. Stad into an equal number of shares of Class A Common Stock of the issuer.
Each share of Class B Common Stock is convertible, at any time at the option of the holder, into one share of Class A Common Stock. Effective June 12, 2017, the Dragoneer Entities (as defined below) voluntarily converted 191,657 shares of Class B Common Stock (of which Dragoneer Apartment Fund (as defined below) held 111,411 shares) into an equal number of shares of Class A Common Stock of the issuer.
Mr. Stad is the managing member of Dragoneer Global GP, LLC ("Dragoneer GP"), Dragoneer Global GP II, LLC ("Global GP II"), and Dragoneer Investment Group, LLC ("Dragoneer Adviser"). Dragoneer GP is the manager of Dragoneer Apartment, LLC ("Dragoneer Apartment Fund") and Global GP II is the general partner of Dragoneer Global Fund II, L.P. ("Dragoneer Global Fund II" and, together with Dragoneer GP, Dragoneer Adviser, and Global GP II, the "Dragoneer Entities"). By virtue of the foregoing relationships, Mr. Stad and each of the Dragoneer Entities may be deemed to share beneficial ownership of some or all of the securities reported above. Mr. Stad and each of the Dragoneer Entities disclaims beneficial ownership of the reported securities, except to the extent of their respective pecuniary interest therein.
The securities reported in the table above as having converted from Class B Common Stock to Class A Common Stock are held by Dragoneer Apartment Fund and certain other funds and managed accounts associated with the Dragoneer Entities and Mr. Stad.
Certain Dragoneer Entities and certain other funds and managed accounts associated with the Dragoneer Entities and Mr. Stad sold shares of Class A Common Stock reported in the table above. Dragoneer Global Fund II sold 238,446 shares of Class A Common Stock, Dragoneer Apartment Fund sold 93,912 shares of Class A Common Stock, and certain other funds and managed accounts associted with the Dragoneer Entities and Mr. Stad sold 67,642 shares of Class A Common Stock.
The shares of Class B Common Stock have no expiration date. However, all outstanding shares of Class B Common Stock convert automatically into shares of Class A Common Stock, on a one share for one share basis, on the date when the number of the Issuer's outstanding shares of Class B Common Stock represents less than 10% of the sum of its outstanding shares of Class A Common Stock and Class B Common Stock.