AppFolio General Counsel Evan Pickering's Tax Withholding Stock Transactions

This Form 4 filing reports that Evan Pickering, General Counsel of AppFolio Inc., had 265 shares of Class A Common Stock withheld by the company on May 10, 2026, to satisfy minimum tax withholding obligations. The shares were withheld at a price of $166.59 per share across five separate transactions totaling approximately $44,146. These withholdings occurred in connection with the vesting of various equity awards, including performance-based restricted stock units (PSUs) and time-based restricted stock units (RSUs) granted between 2023 and 2026 under AppFolio's incentive plans. Following these transactions, Pickering's direct holdings decreased from 7,480 shares to 7,215 shares. The transactions represent standard tax withholding procedures rather than discretionary sales by the executive.