Timothy K. Bliss - May 12, 2022 Form 4 Insider Report for APPFOLIO INC (APPF)

Role
Director
Signature
Timothy K. Bliss By: /s/ Kimberly Shea, Attorney-in-Fact
Stock symbol
APPF
Transactions as of
May 12, 2022
Transactions value $
$0
Form type
4
Date filed
5/16/2022, 08:24 PM
Previous filing
Feb 4, 2022
Next filing
Jun 14, 2022

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 +10K $0.00 10K May 12, 2022 Direct F1, F2, F3
holding APPF Class A Common Stock 13.1K May 12, 2022 By IGSB IVP III, LLC F4

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 -10K -1.14% $0.00 868K May 12, 2022 Class A Common Stock 10K $0.00 Direct F1, F2, F3
holding APPF Class B Common Stock 536K May 12, 2022 Class A Common Stock $0.00 By Family Trust F2, F3
holding APPF Class B Common Stock 37.6K May 12, 2022 Class A Common Stock $0.00 See footnote F2, F3, F5
holding APPF Class B Common Stock 2.2K May 12, 2022 Class A Common Stock $0.00 See footnote F2, F3, F6
holding APPF Class B Common Stock 34K May 12, 2022 Class A Common Stock $0.00 See footnote F2, F3, F6
holding APPF Class B Common Stock 49K May 12, 2022 Class A Common Stock $0.00 See footnote F2, F3, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 These 10,000 shares of the Issuer's Class A Common Stock ("Class A Shares") were acquired by the Reporting Person upon the conversion of 10,000 shares of the Issuer's Class B Common Stock ("Class B Shares") that had been 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 the Issuer's Amended and Restated Certificate of Incorporation).
F3 (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 on which 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.
F4 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.
F5 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.
F6 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.