AppFolio CEO William Shane Trigg Stock Dispositions for Tax Withholding on Vesting Equity Awards

This Form 4 filing reports that William Shane Trigg, CEO and Director of AppFolio Inc., disposed of 3,719 shares of Class A Common Stock on May 10, 2026, for tax withholding purposes. The transactions were not voluntary sales but rather mandatory share withholding by the company to satisfy minimum tax obligations arising from the vesting of various equity awards. The dispositions occurred across seven separate equity grants: performance-based restricted stock units (PSUs) and time-based restricted stock units (RSUs) granted between 2023 and 2026 under AppFolio's incentive plans. All shares were disposed at $166.59 per share, resulting in total proceeds of approximately $619,000. Following these transactions, Trigg's direct ownership decreased from 83,850 shares to 80,131 shares. The filing represents routine tax withholding on executive compensation rather than discretionary stock sales.