Ida Kane - May 13, 2021 Form 4 Insider Report for APPFOLIO INC (APPF)

Role: Chief Financial Officer
Signature: /s/ Ida Kathleen Kane
Stock symbol: APPF
Transactions as of: May 13, 2021
Transactions value $: $482,239
Form type: 4
Date filed: 5/17/2021, 08:08 PM
Next filing: May 27, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	APPF	Class A Common Stock	Options Exercise	$8.93K	+375		$23.80	375	May 13, 2021	Direct
holding	APPF	Class A Common Stock						4.44K	May 13, 2021	By Trust

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	Employee Stock Option (Right to Buy)	Options Exercise	$0	-83.9K	-100%	$0.00^*	0	May 13, 2021	Class B Common Stock	83.9K	$5.64	Direct	F1, F2
transaction	APPF	Class B Common Stock	Award	$473K	+83.9K		$5.64	83.9K	May 13, 2021	Class A Common Stock	83.9K	$0.00	Direct	F1, F2
transaction	APPF	Employee Stock Option (Right to Buy)	Options Exercise	$0	-375	-100%	$0.00^*	0	May 13, 2021	Class A Common Stock	375	$23.80	Direct

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

Explanation of Responses:

Id	Content
F1	Each share of Class B Common Stock is convertible, at any time at the option of the holder, into one share of Class A Common Stock. In addition, each share of Class B Common Stock will convert automatically into one share of Class A Common Stock upon any transfer that occurs after the consummation of the initial public offering (the "IPO") of the Issuer, except for any transfers by (i) a partnership or limited liability company that was a registered holder of shares of Class B Common Stock at the effective time of the IPO to anyone who was a partner or member of any such partnership or limited liability company at the effective time, and (ii) a transfer to a "qualified recipient," as defined in the Issuer's amended and restated certificate of incorporation. The shares of Class B Common Stock have no expiration date.
F2	All outstanding shares of Class B Common Stock will convert automatically into shares of Class A Common Stock, on a one share for one share basis, on the date when the number of the Issuer's outstanding shares of Class B Common Stock represents less than 10% of the sum of its outstanding shares of Class A Common Stock and Class B Common Stock.

Content

Each share of Class B Common Stock is convertible, at any time at the option of the holder, into one share of Class A Common Stock. In addition, each share of Class B Common Stock will convert automatically into one share of Class A Common Stock upon any transfer that occurs after the consummation of the initial public offering (the "IPO") of the Issuer, except for any transfers by (i) a partnership or limited liability company that was a registered holder of shares of Class B Common Stock at the effective time of the IPO to anyone who was a partner or member of any such partnership or limited liability company at the effective time, and (ii) a transfer to a "qualified recipient," as defined in the Issuer's amended and restated certificate of incorporation. The shares of Class B Common Stock have no expiration date.

All outstanding shares of Class B Common Stock will convert automatically into shares of Class A Common Stock, on a one share for one share basis, on the date when the number of the Issuer's outstanding shares of Class B Common Stock represents less than 10% of the sum of its outstanding shares of Class A Common Stock and Class B Common Stock.