Maurice J. Duca - Mar 25, 2024 Form 4 Insider Report for APPFOLIO INC (APPF)

Role
10%+ Owner
Signature
/s/ Kimberly Shea, Attorney-in-Fact for Maurice J. Duca
Stock symbol
APPF
Transactions as of
Mar 25, 2024
Transactions value $
$0
Form type
4
Date filed
3/27/2024, 08:09 PM
Previous filing
May 3, 2023
Next filing
Jun 18, 2024

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 +57.1K $0.00 57.1K Mar 25, 2024 By Family Trust F1
holding APPF Class A Common Stock 59.4K Mar 25, 2024 Direct
holding APPF Class A Common Stock 143K Mar 25, 2024 By IGSB Gaucho Fund I, LLC F2
holding APPF Class A Common Stock 44K Mar 25, 2024 By Pension Trust F3
holding APPF Class A Common Stock 9.81K Mar 25, 2024 By IGSB Cardinal Core BV, LLC F4
holding APPF Class A Common Stock 0 Mar 25, 2024 By Private Foundation F5

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 -57.1K -27.57% $0.00 150K Mar 25, 2024 Class A Common Stock 57.1K $0.00 By Family Trust F1, F6, F7
holding APPF Class B Common Stock 3.6M Mar 25, 2024 Class A Common Stock $0.00 Direct F6, F7
holding APPF Class B Common Stock 143K Mar 25, 2024 Class A Common Stock $0.00 By IGSB Gaucho Fund I, LLC F6, F7, F8
holding APPF Class B Common Stock 2.54M Mar 25, 2024 Class A Common Stock $0.00 By Pension Trust F6, F7, F9
holding APPF Class B Common Stock 5K Mar 25, 2024 Class A Common Stock $0.00 By IGSB Cardinal Core BV, LLC F6, F7, F10
holding APPF Class B Common Stock 24.6K Mar 25, 2024 Class A Common Stock $0.00 By IGSB Cardinal Core MX, LLC F6, F7, F11
holding APPF Class B Common Stock 7.02K Mar 25, 2024 Class A Common Stock $0.00 By Charitable Remainder Trust F6, F7, F12
holding APPF Class B Common Stock 0 Mar 25, 2024 Class A Common Stock $0.00 By Private Foundation F6, F7, F13
* 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 57,100 shares of Class A Common Stock ("Class A Shares") by converting a like number of shares of Class B Common Stock ("Class B Shares") that were owned by the Reporting Person.
F2 The Reporting Person is one of the managing members of IGSB Gaucho Fund I, LLC, a limited liability company, and may be deemed to have shared voting and dispositive power with the other managing members 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.
F3 These 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.
F4 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 over the Class A Shares, except to the extent of any pecuniary interest he may have therein.
F5 The Reporting Person previously reported Class A Shares held by a private foundation of which the Reporting Person was the president and one of five members of its board of directors. The Reporting Person does not have any pecuniary interest in, and previously disclaimed beneficial ownership of, these Class A Shares because decisions with respect to the voting and disposition of these Class A Shares were subject to the oversight and the approval of not less than three of the foundation's five-member board of directors. The Reporting Person resigned from his roles as president and a member of the board of directors on August 31, 2023. Since the Reporting Person does not have a pecuniary interest in these Class A Shares and no longer possesses shared voting or dispositive power over these Class A Shares, the shares have been removed from this filing.
F6 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).
F7 (Continued from Footnote 6) 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.
F8 The Reporting Person is one of the managing members of IGSB Gaucho Fund I, LLC, a limited liability company, and may be deemed to have shared voting and dispositive power with the other managing members 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.
F9 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.
F10 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.
F11 These Class B Shares are owned by IGSB Cardinal Core MX, 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.
F12 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.
F13 The Reporting Person previously reported Class B Shares held by a private foundation of which the Reporting Person was the president and one of five members of its board of directors. The Reporting Person does not have any pecuniary interest in, and previously disclaimed beneficial ownership of, these Class B Shares because decisions with respect to the voting and disposition of these Class B Shares were subject to the oversight and the approval of not less than three of the foundation's five-member board of directors. The Reporting Person resigned from his roles as president and a member of the board of directors on August 31, 2023. Since the Reporting Person does not have a pecuniary interest in these Class B Shares and no longer possesses shared voting or dispositive power over these Class B Shares, the shares have been removed from this filing.