William R. Rauth III - Sep 24, 2021 Form 4 Insider Report for APPFOLIO INC (APPF)

Role
Director, 10%+ Owner
Signature
William R. Rauth, III, By: /s/ KIMBERLY SHEA, Attorney-in-Fact for William R. Rauth, III
Stock symbol
APPF
Transactions as of
Sep 24, 2021
Transactions value $
$0
Form type
4
Date filed
9/28/2021, 03:52 PM
Next filing
Oct 22, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction APPF Class A Common Stock Conversion of derivative security $0 +72.9K $0.00 72.9K Sep 24, 2021 Direct F1, F2, F3
holding APPF Class A Common Stock 4K Sep 24, 2021 See Footnote F4
holding APPF Class A Common Stock 4K Sep 24, 2021 See Footnote F5
holding APPF Class A Common Stock 4K Sep 24, 2021 See Footnote F5
holding APPF Class A Common Stock 4K Sep 24, 2021 See Footnote F5
holding APPF Class A Common Stock 4K Sep 24, 2021 See Footnote F5
holding APPF Class A Common Stock 4K Sep 24, 2021 See Footnote F5
holding APPF Class A Common Stock 4K Sep 24, 2021 See Footnote F5
holding APPF Class A Common Stock 4K Sep 24, 2021 See Footnote F5
holding APPF Class A Common Stock 4K Sep 24, 2021 See Footnote F5
holding APPF Class A Common Stock 13.1K Sep 24, 2021 By IGSB IVP III, LLC F6

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction APPF Class B Common Stock Conversion of derivative security $0 -72.9K -100% $0.00* 0 Sep 24, 2021 Class A Common Stock 72.9K $0.00 Direct F1, F2, F3
holding APPF Class B Common Stock 3.55M Sep 24, 2021 Class A Common Stock $0.00 By IGSB IVP III, LLC F2, F3, F7
holding APPF Class B Common Stock 994K Sep 24, 2021 Class A Common Stock $0.00 By IGSB Internal Venture Fund III, LLC F2, F3, F8
holding APPF Class B Common Stock 9.13K Sep 24, 2021 Class A Common Stock $0.00 See Footnote F2, F3, F9
holding APPF Class B Common Stock 9.13K Sep 24, 2021 Class A Common Stock $0.00 See Footnote F2, F3, F10
holding APPF Class B Common Stock 9.12K Sep 24, 2021 Class A Common Stock $0.00 See Footnote F2, F3, F10
holding APPF Class B Common Stock 9.12K Sep 24, 2021 Class A Common Stock $0.00 See Footnote F2, F3, F10
holding APPF Class B Common Stock 9.12K Sep 24, 2021 Class A Common Stock $0.00 See Footnote F2, F3, F10
holding APPF Class B Common Stock 9.12K Sep 24, 2021 Class A Common Stock $0.00 See Footnote F2, F3, F10
holding APPF Class B Common Stock 9.12K Sep 24, 2021 Class A Common Stock $0.00 See Footnote F2, F3, F10
holding APPF Class B Common Stock 9.12K Sep 24, 2021 Class A Common Stock $0.00 See Footnote F2, F3, F10
holding APPF Class B Common Stock 7.73K Sep 24, 2021 Class A Common Stock $0.00 See Footnote F2, F3, F10
holding APPF Class B Common Stock 1.41K Sep 24, 2021 Class A Common Stock $0.00 See Footnote F2, F3, F10
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The Reporting Person acquired these 72,859 shares of Appfolio Class A Common Stock ("Class A Shares") by converting a like number of shares of Appfolio Class B Common Stock ("Class B Shares") that were owned by the Reporting Person.
F2 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).
F3 (Continued from Footnote 2) 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 and Class B Shares.
F4 These Class A Shares are owned by an irrevocable trust established for one of the Reporting Person's grandchildren. The Reporting Person is the trustee of the trust and, therefore, may be deemed to possess sole voting and dispositive power over the Class A Shares owned by it. However, the Reporting Person disclaims any pecuniary interest in these Class A Shares.
F5 These Class A Shares are owned by an irrevocable trust established for another of the Reporting Person's grandchildren. The Reporting Person is the trustee of the trust and, therefore, may be deemed to possess sole voting and dispositive power over the Class A Shares owned by it. However, he disclaims any pecuniary interest in these Class A Shares.
F6 These Class A Shares are owned by IGSB IVP III LLC, a private investment fund, which is 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.
F7 These Class B Shares are also owned by IGSB IVP III LLC, which is managed by 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 B Shares. However, the Reporting Person disclaims beneficial ownership of these Class B Shares, except to the extent of any pecuniary interest he may have therein.
F8 These Class B Shares are owned by IGSB Internal Venture Fund III LLC, a private investment fund that is managed by IGSB. The Reporting Person is one of the members of IGSB and may be deemed to share voting and dispositive power over these Class B Shares with IGSB and its other members. However, the Reporting Person disclaims beneficial ownership of these Class B Shares, except to the extent of any pecuniary interest he may have therein.
F9 These Class B Shares are owned by an irrevocable trust established for one of the Reporting Person's grandchildren. The Reporting Person is the trustee of the trust and, therefore, may be deemed to possess sole voting and dispositive power over the Class B Shares owned by it. However, the Reporting Person disclaims any pecuniary interest in these Class B Shares.
F10 These Class B Shares are owned by an irrevocable trust established for another of the Reporting Person's grandchildren. The Reporting Person is the trustee of the trust and, therefore, may be deemed to possess sole voting and dispositive power over the Class B Shares owned by it. However, he disclaims any pecuniary interest in these Class B Shares.