MAURICE J. DUCA - 08 Oct 2024 Form 4 Insider Report for APPFOLIO INC (APPF)

Role: 10%+ Owner
Signature: /s/ Kimberly Shea, Attorney-in-Fact for Maurice J. Duca
Issuer symbol: APPF
Transactions as of: 08 Oct 2024
Net transactions value: $0
Form type: 4
Filing time: 10 Oct 2024, 19:44:58 UTC
Previous filing: 25 Sep 2024
Next filing: 30 Oct 2024
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	APPF	Class A Common Stock	Other	$0	-2,572	-100%	$0.000000	0	08 Oct 2024	By IGSB Cardinal Core MX, LLC	F1, F2
transaction	APPF	Class A Common Stock	Other	$0	+5	+0.05%	$0.000000	9,388	08 Oct 2024	Direct	F3
holding	APPF	Class A Common Stock						4,969	08 Oct 2024	By Family Trust
holding	APPF	Class A Common Stock						142,857	08 Oct 2024	By IGSB Gaucho Fund I, LLC	F4
holding	APPF	Class A Common Stock						44,037	08 Oct 2024	By Pension Trust	F5
holding	APPF	Class A Common Stock						9,805	08 Oct 2024	By IGSB Cardinal Core BV, 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	Other	$0	-22,028	-100%	$0.000000	0	08 Oct 2024	Class A Common Stock	22,028	$0.000000	By IGSB Cardinal Core MX, LLC	F1, F2, F7, F8
transaction	APPF	Class B Common Stock	Other	$0	+22,028	+0.61%	$0.000000	3,619,444	08 Oct 2024	Class A Common Stock	22,028	$0.000000	Direct	F3, F7, F8
holding	APPF	Class B Common Stock						149,080	08 Oct 2024	Class A Common Stock		$0.000000	By Family Trust	F7, F8
holding	APPF	Class B Common Stock						142,858	08 Oct 2024	Class A Common Stock		$0.000000	By IGSB Gaucho Fund I, LLC	F7, F8, F9
holding	APPF	Class B Common Stock						2,536,153	08 Oct 2024	Class A Common Stock		$0.000000	By Pension Trust	F7, F8, F10
holding	APPF	Class B Common Stock						4,995	08 Oct 2024	Class A Common Stock		$0.000000	By IGSB Cardinal Core BV, LLC	F7, F8, F11
holding	APPF	Class B Common Stock						7,022	08 Oct 2024	Class A Common Stock		$0.000000	By Charitable Remainder Trust	F7, F8, F12

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	IGSB Cardinal Core MX, LLC was dissolved on October 8, 2024, resulting in the distribution of an aggregate of 2,572 shares of Class A Common Stock ("Class A Shares") and 22,028 shares of Class B Common Stock ("Class B Shares") to the investors in IGSB Cardinal Core MX, LLC. No consideration was paid by any of the investors for the Class A Shares or Class B Shares distributed to them.
F2	Prior to the dissolution, the Reporting Person was the managing member of IGSB Cardinal Core MX, LLC and possessed sole voting and dispositive power over the shares held by IGSB Cardinal Core MX, LLC.
F3	Five Class A Shares and 22,028 Class B Shares were received by the Reporting Person upon the dissolution of IGSB Cardinal Core MX, LLC. No consideration was paid by the Reporting Person for any of the Class A Shares or Class B Shares distributed to him.
F4	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.
F5	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.
F6	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.
F7	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).
F8	(Continued from Footnote 7) 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.
F9	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.
F10	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.
F11	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.
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.