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Filing Details

Accession Number:: 0000899243-22-022442
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2022-06-14 20:48:59
Reporting Period:: 2022-06-10

Accepted Time:: 2022-06-14 20:48:59
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1433195	Appfolio Inc	APPF	()	4

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
938332	K Timothy Bliss	C/O Igsb, Inc. 1485 E. Valley Road, Suite H Santa Barbara CA 93108		Yes	No	No	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
Class A Common Stock	Disposition	2022-05-20	10,000	$0.00	0	No	4	G	Direct
Class A Common Stock	Acquisiton	2022-06-10	25,000	$0.00	25,000	No	4	C	Direct
Class A Common Stock	Disposition	2022-06-14	7,320	$87.70	17,680	No	4	S	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership
No	4	G	Direct
No	4	C	Direct
No	4	S	Direct

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Class A Common Stock	Class B Common Stock	Disposition	2022-06-10	25,000	$0.00	25,000	$0.00

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
842,549			No	4	C	Direct

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Class A Common Stock	13,072	Indirect	By IGSBIVP III, LLC

Reported Derivative Holdings

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Sec. Name	Sec. Type	Price	Remaning Holdings	Nature of Ownership
Class A Common Stock	Class B Common Stock	$0.00	536,150	Indirect
Class A Common Stock	Class B Common Stock	$0.00	37,600	Indirect
Class A Common Stock	Class B Common Stock	$0.00	2,200	Indirect
Class A Common Stock	Class B Common Stock	$0.00	34,016	Indirect
Class A Common Stock	Class B Common Stock	$0.00	49,016	Indirect

Expiration Date	Amount	Remaning Holdings	Nature of Ownership
	0	536,150	Indirect
	0	37,600	Indirect
	0	2,200	Indirect
	0	34,016	Indirect
	0	49,016	Indirect

Footnotes

These 10,000 shares of the Issuer's Class A Common Stock ("Class A Shares") were donated by the Reporting Person to a charitable organization.
Each share of the Issuer's Class B Common Stock ("Class B Shares") is convertible, at any time at the option of the holder, into one Class A Share. In addition, Class B Shares that are sold or otherwise transferred will convert automatically, on a one share-for-one share basis, into Class A Shares, except for (i) any transfer by a partnership or limited liability company that was a registered holder of Class B Shares prior to June 30, 2015 that is made to anyone who was a partner or member of any such partnership or limited liability company prior to June 30, 2015, and (ii) any transfer to a "qualified recipient" (as defined in the Issuer's Amended and Restated Certificate of Incorporation).
(Continued from Footnote 2) The Issuer's Class B Shares do not have an expiration date. However, all of the outstanding Class B Shares will convert automatically into Class A Shares, on a one share-for-one share basis, on the date when the number of the Issuer's outstanding Class B Shares represents less than 10% of the sum of its outstanding Class A Shares and Class B Shares.
These 25,000 Class A Shares were acquired by the Reporting Person upon the conversion of 25,000 Class B Shares that had been owned by the Reporting Person.
This price reflects the weighted average price at which these shares were sold. The shares were sold in multiple transactions at prices ranging from $86.11 to $90.22, 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.
These Class A Shares are owned by IGSB IVP III LLC, a private investment fund managed by Investment Group of Santa Barbara LLC ("IGSB"). The Reporting Person is one of the members of IGSB and may be deemed to share voting and dispositive power with IGSB and its other members over these Class A Shares. However, the Reporting Person disclaims beneficial ownership of these Class A Shares, except to the extent of any pecuniary interest he may have therein.
These Class B Shares are owned by a grantor trust established for one of the Reporting Person's adult children. The Reporting Person's spouse is the trustee of that trust and, in that capacity, possesses sole voting and dispositive power over these Class B Shares. However, neither she nor the Reporting Person is a beneficiary of the trust and neither of them has, and they disclaim, any pecuniary interest in these Class B Shares.
These Class B Shares are owned by another grantor trust also established for one of the Reporting Person's adult children. The Reporting Person's spouse is the trustee of that trust and, in that capacity, possesses sole voting and dispositive power over these Class B Shares. However, neither she nor the Reporting Person is a beneficiary of the trust and neither of them has, and they disclaim, any pecuniary interest in these Class B Shares.