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Filing Details

Accession Number:: 0000899243-22-031510
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2022-09-19 18:16:02
Reporting Period:: 2022-09-15

Accepted Time:: 2022-09-19 18:16:02
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1433195	Appfolio Inc	APPF	()	1231

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
938333	J Maurice Duca	C/O Igsb, Inc. 1485 E. Valley Road, Suite H Santa Barbara CA 93108		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	Disposition	2022-09-15	3,000	$99.16	10,072	No	4	S	Indirect	By IGSB IVP III, LLC
Class A Common Stock	Disposition	2022-09-15	5,842	$100.24	4,230	No	4	S	Indirect	By IGSB IVP III, LLC
Class A Common Stock	Disposition	2022-09-15	4,230	$101.02	0	No	4	S	Indirect	By IGSB IVP III, LLC

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	S	Indirect	By IGSB IVP III, LLC
No	4	S	Indirect	By IGSB IVP III, LLC
No	4	S	Indirect	By IGSB IVP III, LLC

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Class A Common Stock	78,397	Direct
Class A Common Stock	194,037	Indirect	By Pension Trust
Class A Common Stock	9,805	Indirect	By IGSB Cardinal Core BV, LLC
Class A Common Stock	34,753	Indirect	By Private Foundation

Footnotes

This price reflects the weighted average price at which these shares were sold. The shares were sold in multiple transactions at prices ranging from $98.67 to $99.66, 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 had been 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 have shared 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 had therein.
This price reflects the weighted average price at which these shares were sold. The shares were sold in multiple transactions at prices ranging from $99.73 to $100.69, 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.
This price reflects the weighted average price at which these shares were sold. The shares were sold in multiple transactions at prices ranging from $100.74 to $101.50, 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.
The Reporting Person is sole trustee of the pension trust and, in that capacity, possesses sole voting and sole dispositive power over these Class A Shares; however, the Reporting Person does not have and disclaims any pecuniary interest in these Class A Shares.
The Reporting Person is the managing member of IGSB Cardinal Core BV, LLC and, in that capacity, possesses sole voting and sole dispositive power over these Class A Shares. However, he disclaims beneficial ownership in these Class A Shares, except to the extent of any pecuniary interest he may have therein.
These Class A Shares are owned by a private foundation, of which the Reporting Person is the president and one of five members of its board of directors. The Reporting Person does not have any pecuniary interest in these Class A Shares. He also disclaims beneficial ownership of these Class A Shares because decisions with respect to the voting and disposition of these shares are subject to the oversight of, and the approval of not less than three of, the foundation's five-member board of directors. The number of reported shares reflects the prior receipt by the private foundation of a third-party donation of 26,275 Class A Shares on December 14, 2021.