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Filing Details

Accession Number:: 0000899243-19-027815
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2019-11-21 19:30:59
Reporting Period:: 2019-11-19

Accepted Time:: 2019-11-21 19:30:59
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1433195	Appfolio Inc	APPF	()	4

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1213191	Iii R William Rauth	C/O Igsb, Inc. 1485 E. Valley Road, Suite H Santa Barbara CA 93108		Yes	No	Yes	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership
Class A Common Stock	Acquisiton	2019-11-19	20,000	$0.00	20,000	No	4	C	Direct
Class A Common Stock	Disposition	2019-11-19	3,517	$104.00	16,483	No	4	S	Direct
Class A Common Stock	Disposition	2019-11-20	16,483	$104.19	0	No	4	S	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership
No	4	C	Direct
No	4	S	Direct
No	4	S	Direct

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Class A Common Stock	Class B Common Stock	Disposition	2019-11-19	20,000	$0.00	20,000	$0.00

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
252,859			No	4	C	Direct

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Class A Common Stock	13,072	Indirect	By IGSB IVP III, LLC

Reported Derivative Holdings

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Sec. Name	Sec. Type	Price	Remaning Holdings	Nature of Ownership
Class A Common Stock	Class B Common Stock	$0.00	3,855,275	Indirect
Class A Common Stock	Class B Common Stock	$0.00	993,627	Indirect
Class A Common Stock	Class B Common Stock	$0.00	15,129	Indirect
Class A Common Stock	Class B Common Stock	$0.00	15,129	Indirect
Class A Common Stock	Class B Common Stock	$0.00	15,119	Indirect
Class A Common Stock	Class B Common Stock	$0.00	15,119	Indirect
Class A Common Stock	Class B Common Stock	$0.00	15,119	Indirect
Class A Common Stock	Class B Common Stock	$0.00	15,119	Indirect
Class A Common Stock	Class B Common Stock	$0.00	15,119	Indirect
Class A Common Stock	Class B Common Stock	$0.00	15,119	Indirect
Class A Common Stock	Class B Common Stock	$0.00	13,725	Indirect
Class A Common Stock	Class B Common Stock	$0.00	1,407	Indirect

Expiration Date	Amount	Remaning Holdings	Nature of Ownership
	0	3,855,275	Indirect
	0	993,627	Indirect
	0	15,129	Indirect
	0	15,129	Indirect
	0	15,119	Indirect
	0	15,119	Indirect
	0	15,119	Indirect
	0	15,119	Indirect
	0	15,119	Indirect
	0	15,119	Indirect
	0	13,725	Indirect
	0	1,407	Indirect

Footnotes

The Reporting Person acquired these 20,000 shares of AppFolio Class A Common Stock ("Class A Shares") on his conversion of 20,000 shares of AppFolio Class B Common Stock ("Class B Shares") that were owned by the Reporting Person.
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). AppFolio's Class B Shares do not have an expiration date.
(Continued from Footnote 2) 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 and Class B Shares.
Sales made pursuant to a 10(b)5-1 Plan previously adopted by the Reporting Person.
These Class A Shares are owned by IGSB IVP III LLC, a private investment fund, which is managed by Investment Group of Santa Barbara LLC ("IGSB"). The Reporting Person is one of the members of IGSB and may be deemed to share voting and dispositive power with IGSB and its other members over these Class A Shares. However, the Reporting Person disclaims beneficial ownership of these Class A Shares, except to the extent of any pecuniary interest he may have therein.
These Class B Shares are also owned by IGSB IVP III LLC, which is managed by IGSB. The Reporting Person is one of the members of IGSB and may be deemed to share voting and dispositive power with IGSB and its other members over these Class B Shares. However, the Reporting Person disclaims beneficial ownership of these Class B Shares, except to the extent of any pecuniary interest he may have therein.
These Class B Shares are owned by IGSB Internal Venture Fund III LLC, a private investment fund that is managed by IGSB. The Reporting Person is one of the members of IGSB and may be deemed to share voting and dispositive power over these Class B Shares with IGSB and its other members. However, the Reporting Person disclaims beneficial ownership of these Class B Shares, except to the extent of any pecuniary interest he may have therein.
These Class B Shares are owned by an irrevocable trust established for one of the Reporting Person's grandchildren. The Reporting Person is the trustee of the trust and, therefore, may be deemed to possess sole voting and dispositive power over the Class B Shares owned by it. However, the Reporting Person disclaims any pecuniary interest in these Class B Shares.
These Class B Shares are owned by an irrevocable trust established for another of the Reporting Person's grandchildren. The Reporting Person is the trustee of the trust and, therefore, may be deemed to possess sole voting and dispositive power over the Class B Shares owned by it. However, he disclaims any pecuniary interest in these Class B Shares.