Jonathan Walker - 10 Nov 2022 Form 4 Insider Report for APPFOLIO INC (APPF)

Role: Founder
Signature: /s/ Matthew Mazza, as Attorney-In-Fact for Jonathan Walker
Issuer symbol: APPF
Transactions as of: 10 Nov 2022
Net transactions value: -$57,941
Form type: 4
Filing time: 14 Nov 2022, 18:25:34 UTC
Previous filing: 12 Aug 2022
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	Tax liability	$57,941	-480	-1.8%	$120.71	26,348	10 Nov 2022	Direct	F1
holding	APPF	Class A Common Stock						606,447	10 Nov 2022	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
holding	APPF	Class B Common Stock						26,925	10 Nov 2022	Class A Common Stock	26,925	$0.000000	By Trust	F2, F3
holding	APPF	Class B Common Stock						7,194	10 Nov 2022	Class A Common Stock	7,194	$0.000000	Direct	F2, F3

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

Explanation of Responses:

Id	Content
F1	Consists of Class A Common Stock withheld by the Issuer to satisfy the minimum tax withholding obligations of the Reporting Person arising in connection with the vesting on November 10, 2022 of 6.25% of the time-based restricted stock units (RSUs) previously granted to the Reporting Person on December 13, 2021 pursuant to the Issuer's 2015 Stock Incentive Plan.
F2	All of the 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 Company'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.
F3	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, except for any transfers by (i) a partnership or limited liability company that was a registered holder of shares of Class B Common Stock 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.