Jonathan Walker - Dec 23, 2020 Form 4/A - Amendment Insider Report for APPFOLIO INC (APPF)

Role: Chief Technology Officer
Signature: /s/ Ida Kane, as Attorney-In-Fact for Jonathan Walker
Stock symbol: APPF
Transactions as of: Dec 23, 2020
Transactions value $: $166,836
Form type: 4/A - Amendment
Date filed: 5/17/2021, 08:09 PM
Date Of Original Report: Dec 28, 2020
Next filing: Sep 9, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	APPF	Class A Common Stock	Options Exercise	$164K	+12.2K	+327.58%	$13.43^*	15.9K	Dec 23, 2020	By Trust	F1

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	-575	-0.77%	$0.00	74.4K	Dec 23, 2020	Class B Common Stock	575	$4.92	By Trust	F1, F2, F3
transaction	APPF	Class B Common Stock	Award	$2.83K	+575	+0.09%	$4.92^*	619K	Dec 23, 2020	Class A Common Stock	575	$0.00	By Trust	F1, F2, F3
transaction	APPF	Employee Stock Option (Right to Buy)	Options Exercise	$0	-12.2K	-27.14%	$0.00	32.8K	Dec 23, 2020	Class A Common Stock	12.2K	$13.43	By Trust	F1

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

Explanation of Responses:

Id	Content
F1	This Form 4/A amends the Form 4 filed on December 28, 2020 to correct administrative errors in reporting two option exercises that occurred on December 23, 2020. The Form 4 filed on December 28, 2020 reported an acquisition of a total of 575 Employee Stock Options for the purchase of Class B Common stock at $4.92 per share and an acquisition of a total of 12,212 Employee Stock Options for the purchase of Class B Common stock at $13.43 per share. In fact, on December 23, 2020, Mr. Walker exercised 575 Employee Stock Options to purchase 575 shares of Class B Common stock at $4.92 per share, and exercised a total of 12,12 Employee Stock Options for the purchase of Class A Common stock at $13.43 per share. This Form 4 updates Mr. Walker's Employee Stock Option holdings, Class B Common Stock holdings and Class A Common stock holdings accordingly, as of the date of the original transaction.
F2	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 AppFolio, Inc. (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.
F3	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.