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Filing Details

Accession Number:: 0001415889-24-027386
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2024-11-20 21:13:21
Reporting Period:: 2024-11-18

Accepted Time:: 2024-11-20 21:13:21
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	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	Explanation
Class A Common Stock	Disposition	2024-11-18	1,108	$228.80	3,861	No	4	S	Indirect	By Family Trust
Class A Common Stock	Disposition	2024-11-18	1,402	$229.54	2,459	No	4	S	Indirect	By Family Trust
Class A Common Stock	Disposition	2024-11-19	1,300	$228.41	1,159	No	4	S	Indirect	By Family Trust
Class A Common Stock	Disposition	2024-11-19	100	$229.16	1,059	No	4	S	Indirect	By Family Trust
Class A Common Stock	Disposition	2024-11-20	600	$228.59	459	No	4	S	Indirect	By Family Trust
Class A Common Stock	Disposition	2024-11-20	406	$229.68	53	No	4	S	Indirect	By Family Trust
Class A Common Stock	Disposition	2024-11-20	53	$230.46	0	No	4	S	Indirect	By Family Trust
Class A Common Stock	Disposition	2024-11-20	30,326	$0.00	9,107	No	4	J	Indirect	By Pension Trust
Class A Common Stock	Acquisiton	2024-11-20	26,667	$0.00	26,667	No	4	J	Indirect	By IGSB Cardinal I, LLC

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	S	Indirect	By Family Trust
No	4	S	Indirect	By Family Trust
No	4	S	Indirect	By Family Trust
No	4	S	Indirect	By Family Trust
No	4	S	Indirect	By Family Trust
No	4	S	Indirect	By Family Trust
No	4	S	Indirect	By Family Trust
No	4	J	Indirect	By Pension Trust
No	4	J	Indirect	By IGSB Cardinal I, LLC

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	2024-11-20	22,028	$0.00	22,028	$0.00
Class A Common Stock	Class B Common Stock	Disposition	2024-11-20	4,638	$0.00	4,638	$0.00
Class A Common Stock	Class B Common Stock	Acquisiton	2024-11-20	26,666	$0.00	26,666	$0.00

Remaning Holdings	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
3,597,416	No	4	J	Direct
144,442	No	4	J	Indirect
26,666	No	4	J	Indirect

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Class A Common Stock	9,388	Direct
Class A Common Stock	142,857	Indirect	By IGSB Gaucho Fund I, LLC
Class A Common Stock	9,805	Indirect	By IGSB Cardinal Core BV, 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	142,858	Indirect
Class A Common Stock	Class B Common Stock	$0.00	2,536,153	Indirect
Class A Common Stock	Class B Common Stock	$0.00	4,995	Indirect
Class A Common Stock	Class B Common Stock	$0.00	7,022	Indirect

Expiration Date	Amount	Remaning Holdings	Nature of Ownership
	0	142,858	Indirect
	0	2,536,153	Indirect
	0	4,995	Indirect
	0	7,022	Indirect

Footnotes

Sales made pursuant to a 10(b)5-1 trading plan previously adopted by the Reporting Person on March 15, 2024.
This price reflects the weighted average price at which these shares were sold. The shares were sold in multiple transactions at prices ranging from $228.28 to $229.27, 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 $229.32 to $229.91, 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 $228.03 to $228.77, 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 $228.14 to $229.11, 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 $229.45 to $229.85, 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 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. On November 20, 2024, 30,326 of these Class A Shares were transferred for no consideration from the pension trust to a third party, which had the effect of reducing the number of Class A Shares owned by the pension trust, and over which the Reporting Person possesses beneficial ownership, to 9,107 Class A Shares.
These 26,667 Class A Shares were acquired by IGSB Cardinal I, LLC ("IGSB Cardinal I") in connection with the transfer of these Class A Shares from another member of IGSB Cardinal I. No consideration was paid by the Reporting Person for any of the Class A Shares.
The Reporting Person is the managing member of IGSB Cardinal I. 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.
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.
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.
These 22,028 shares of Class B Common Stock ("Class B Shares") were acquired by IGSB Cardinal I in connection with the transfer of the Class B Shares from an IRA account held by the Reporting Person. No consideration was received by the Reporting Person or his IRA for any of the Class B Shares.
Each Class B Share 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 AppFolio's Amended and Restated Certificate of Incorporation).
(Continued from Footnote 13) AppFolio'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 Company's outstanding Class B Shares represents less than 10% of the sum of AppFolio's outstanding Class A Shares and Class B Shares.
These 4,638 Class B Shares were acquired by IGSB Cardinal I in connection with the transfer of the Class B Shares from the Reporting Person's Family Trust. No consideration was received by the Reporting Person or his Family Trust for any of the Class B Shares.
These 26,666 Class B Shares were acquired by IGSB Cardinal I in connection with the transfer of these Class B Shares from the Reporting Person and the Reporting Person's Family Trust. No consideration was received by the Reporting Person or his Family Trust for any of the Class B Shares.
The Reporting Person is the managing member of IGSB Cardinal I. In that capacity, the Reporting Person possesses sole voting and dispositive power over these Class B Shares. However, the Reporting Person disclaims beneficial ownership in these Class B Shares, except to the extent of any pecuniary interest he may have therein.
These Class B 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 B Shares. However, the Reporting Person disclaims beneficial ownership in these Class B Shares, except to the extent of any pecuniary interest he may have therein.
These Class B 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 B Shares. However, the Reporting Person does not possess any pecuniary interest in these Class B Shares.
These Class B 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 B Shares, but he disclaims beneficial ownership over the Class B Shares, except to the extent of any pecuniary interest he may have therein.
These Class B Shares are held by a trust of which the Reporting Person is a co-trustee and, in that capacity, he may be deemed to share voting and dispositive power over these Class B Shares with the other trustee. However, the Reporting Person does not have a pecuniary interest in, and he disclaims beneficial ownership of, these Class B Shares.