AppFolio, Inc. - Employment Agreement Amendment

This filing details the Second Amended and Restated Employment Agreement between AppFolio, Inc. and its President and CEO, Shane Trigg, effective April 9, 2026. The agreement outlines Mr. Trigg's compensation, including an annual base salary of at least $570,000, an annual bonus opportunity of 100% of base salary at target, and significant restricted stock unit (RSU) and performance-based restricted stock unit (PSU) awards for fiscal years 2026 through 2030. The agreement also specifies severance benefits for various termination scenarios, including termination without cause, resignation for good reason, death, disability, and termination in connection with a corporate transaction. These benefits include salary continuation, bonus payouts, and accelerated vesting of equity awards, contingent upon the execution of a general release of claims and continued compliance with restrictive covenants. The agreement also addresses continued board service post-termination and includes provisions for arbitration and governing law.