Maurice J. Duca - Sep 15, 2022 Form 4 Insider Report for APPFOLIO INC (APPF)

Role
10%+ Owner
Signature
Maurice J. Duca, By: /s/ Kimberly Shea, Attorney-in-Fact for Maurice J. Duca
Stock symbol
APPF
Transactions as of
Sep 15, 2022
Transactions value $
-$1,310,397
Form type
4
Date filed
9/19/2022, 06:16 PM
Previous filing
Dec 3, 2021
Next filing
Oct 19, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction APPF Class A Common Stock Sale -$297K -3K -22.95% $99.16 10.1K Sep 15, 2022 By IGSB IVP III, LLC F1, F2
transaction APPF Class A Common Stock Sale -$586K -5.84K -58% $100.24 4.23K Sep 15, 2022 By IGSB IVP III, LLC F2, F3
transaction APPF Class A Common Stock Sale -$427K -4.23K -100% $101.02 0 Sep 15, 2022 By IGSB IVP III, LLC F2, F4
holding APPF Class A Common Stock 78.4K Sep 15, 2022 Direct
holding APPF Class A Common Stock 194K Sep 15, 2022 By Pension Trust F5
holding APPF Class A Common Stock 9.81K Sep 15, 2022 By IGSB Cardinal Core BV, LLC F6
holding APPF Class A Common Stock 34.8K Sep 15, 2022 By Private Foundation F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 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.
F2 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.
F3 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.
F4 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.
F5 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.
F6 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.
F7 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.