APPF

SEC source: 0000899243-21-046859 · doc4.xml · derivative · entry 1

Investment Group of Santa Barbara, LLC · CIK 0001645662 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By IGSB IVP III, LLC

Disclosed balance after: 0

Underlying: Class A Common Stock · 3,554,584 shares

Expires not disclosed

F1 · kind: Investment Group of Santa Barbara, LLC ("IGSB") is the manager of IGSB IVP III, LLC ("IVP III"). On December 1, 2021, three of the investment funds of IVP III were dissolved, resulting in the termination of each of those investment funds and the distribution of an aggregate of 3,554,584 shares of AppFolio Class B Common Stock ("Class B Shares") held by those investment funds, pro-rata to their investors. No consideration was paid by any of the investors in those investment funds for the Class B Shares distributed to them.

F1 · shares: Investment Group of Santa Barbara, LLC ("IGSB") is the manager of IGSB IVP III, LLC ("IVP III"). On December 1, 2021, three of the investment funds of IVP III were dissolved, resulting in the termination of each of those investment funds and the distribution of an aggregate of 3,554,584 shares of AppFolio Class B Common Stock ("Class B Shares") held by those investment funds, pro-rata to their investors. No consideration was paid by any of the investors in those investment funds for the Class B Shares distributed to them.

F2 · derivative.exercise_date: Each Class B Share is convertible, at any time at the option of the holder, into one share of Appfolio Class A Common Stock (the "Class A Shares"). 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).

F3 · derivative.exercise_date: (Continued from Footnote 2) AppFolio's Class B Shares do not have an expiration date. 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.

F2 · derivative.expiration_date: Each Class B Share is convertible, at any time at the option of the holder, into one share of Appfolio Class A Common Stock (the "Class A Shares"). 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).

F3 · derivative.expiration_date: (Continued from Footnote 2) AppFolio's Class B Shares do not have an expiration date. 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.

F1 · derivative.underlying_shares: Investment Group of Santa Barbara, LLC ("IGSB") is the manager of IGSB IVP III, LLC ("IVP III"). On December 1, 2021, three of the investment funds of IVP III were dissolved, resulting in the termination of each of those investment funds and the distribution of an aggregate of 3,554,584 shares of AppFolio Class B Common Stock ("Class B Shares") held by those investment funds, pro-rata to their investors. No consideration was paid by any of the investors in those investment funds for the Class B Shares distributed to them.

F1 · ownership.direct: Investment Group of Santa Barbara, LLC ("IGSB") is the manager of IGSB IVP III, LLC ("IVP III"). On December 1, 2021, three of the investment funds of IVP III were dissolved, resulting in the termination of each of those investment funds and the distribution of an aggregate of 3,554,584 shares of AppFolio Class B Common Stock ("Class B Shares") held by those investment funds, pro-rata to their investors. No consideration was paid by any of the investors in those investment funds for the Class B Shares distributed to them.

SEC source: 0000899243-21-046858 · doc4.xml · derivative · entry 1

IGSB Internal Venture Fund III, LLC · CIK 0001645378 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: Class A Common Stock · 993,627 shares

Expires not disclosed

F1 · kind: On December 1, 2021, four investment funds of IGSB Internal Venture Fund III, LLC ("IVF III") were dissolved, resulting in the termination of each of those investment funds and the distribution of an aggregate of 993,627 shares of AppFolio Class B Common Stock ("Class B Shares") held by those investment funds, pro-rata to the investors in those investment funds. No consideration was paid by any of those investors for the Class B Shares distributed to them.

F1 · shares: On December 1, 2021, four investment funds of IGSB Internal Venture Fund III, LLC ("IVF III") were dissolved, resulting in the termination of each of those investment funds and the distribution of an aggregate of 993,627 shares of AppFolio Class B Common Stock ("Class B Shares") held by those investment funds, pro-rata to the investors in those investment funds. No consideration was paid by any of those investors for the Class B Shares distributed to them.

F2 · derivative.exercise_date: Each Class B Share is convertible, at any time at the option of the holder, into one share of Appfolio Class A Common Stock ("Class A Shares"). 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).

F3 · derivative.exercise_date: (Continued from Footnote 2) AppFolio's Class B Shares do not have an expiration date. 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.

F2 · derivative.expiration_date: Each Class B Share is convertible, at any time at the option of the holder, into one share of Appfolio Class A Common Stock ("Class A Shares"). 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).

F3 · derivative.expiration_date: (Continued from Footnote 2) AppFolio's Class B Shares do not have an expiration date. 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.

SEC source: 0001433195-21-000108 · wf-form4_163857878653525.xml · nonDerivative · entry 1

KERR JANET · CIK 0001286334 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By Trust

Disclosed balance after: 17,048

F1 · shares: These shares were sold pursuant to a Rule 10b5-1 Plan adopted by Ms. Kerr on or around March 9, 2021.

F2 · ownership.nature: The shares of Class A Common Stock reported on the table above are held by the Janet Kerr Family Trust dated 7/16/2004, of which Ms. Kerr is the Trustee.

SEC source: 0000899243-21-041362 · doc4.xml · nonDerivative · entry 13

RAUTH WILLIAM R III · CIK 0001213191 · Director · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnote

Disclosed balance after: 6,698

F1 · kind: On October 20, 2021, the Reporting Person sold these 72,859 Class A Shares, at a price of $130.87 per share, to irrevocable trusts previously established for his children and grandchildren in the respective numbers of Shares set forth below in this Form 4.

F1 · price: On October 20, 2021, the Reporting Person sold these 72,859 Class A Shares, at a price of $130.87 per share, to irrevocable trusts previously established for his children and grandchildren in the respective numbers of Shares set forth below in this Form 4.

F5 · ownership.nature: These Class A Shares were purchased from the Reporting Person and are owned by an irrevocable trust established for another of the Reporting Person's grandchildren. The Reporting Person's spouse has become the sole trustee of the trust. As a result, per SEC rule, the Reporting Person may be deemed to share, with his spouse, voting and dispositive power over these Class A Shares. However, the Reporting Person and his spouse disclaim any pecuniary interest in these Class A Shares.

SEC source: 0000899243-21-041362 · doc4.xml · nonDerivative · entry 12

RAUTH WILLIAM R III · CIK 0001213191 · Director · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnote

Disclosed balance after: 6,698

F1 · kind: On October 20, 2021, the Reporting Person sold these 72,859 Class A Shares, at a price of $130.87 per share, to irrevocable trusts previously established for his children and grandchildren in the respective numbers of Shares set forth below in this Form 4.

F1 · price: On October 20, 2021, the Reporting Person sold these 72,859 Class A Shares, at a price of $130.87 per share, to irrevocable trusts previously established for his children and grandchildren in the respective numbers of Shares set forth below in this Form 4.

F5 · ownership.nature: These Class A Shares were purchased from the Reporting Person and are owned by an irrevocable trust established for another of the Reporting Person's grandchildren. The Reporting Person's spouse has become the sole trustee of the trust. As a result, per SEC rule, the Reporting Person may be deemed to share, with his spouse, voting and dispositive power over these Class A Shares. However, the Reporting Person and his spouse disclaim any pecuniary interest in these Class A Shares.

SEC source: 0000899243-21-041362 · doc4.xml · nonDerivative · entry 11

RAUTH WILLIAM R III · CIK 0001213191 · Director · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnote

Disclosed balance after: 2,698

F1 · kind: On October 20, 2021, the Reporting Person sold these 72,859 Class A Shares, at a price of $130.87 per share, to irrevocable trusts previously established for his children and grandchildren in the respective numbers of Shares set forth below in this Form 4.

F1 · price: On October 20, 2021, the Reporting Person sold these 72,859 Class A Shares, at a price of $130.87 per share, to irrevocable trusts previously established for his children and grandchildren in the respective numbers of Shares set forth below in this Form 4.

F5 · ownership.nature: These Class A Shares were purchased from the Reporting Person and are owned by an irrevocable trust established for another of the Reporting Person's grandchildren. The Reporting Person's spouse has become the sole trustee of the trust. As a result, per SEC rule, the Reporting Person may be deemed to share, with his spouse, voting and dispositive power over these Class A Shares. However, the Reporting Person and his spouse disclaim any pecuniary interest in these Class A Shares.

SEC source: 0000899243-21-041362 · doc4.xml · nonDerivative · entry 10

RAUTH WILLIAM R III · CIK 0001213191 · Director · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnote

Disclosed balance after: 2,698

F1 · kind: On October 20, 2021, the Reporting Person sold these 72,859 Class A Shares, at a price of $130.87 per share, to irrevocable trusts previously established for his children and grandchildren in the respective numbers of Shares set forth below in this Form 4.

F1 · price: On October 20, 2021, the Reporting Person sold these 72,859 Class A Shares, at a price of $130.87 per share, to irrevocable trusts previously established for his children and grandchildren in the respective numbers of Shares set forth below in this Form 4.

F5 · ownership.nature: These Class A Shares were purchased from the Reporting Person and are owned by an irrevocable trust established for another of the Reporting Person's grandchildren. The Reporting Person's spouse has become the sole trustee of the trust. As a result, per SEC rule, the Reporting Person may be deemed to share, with his spouse, voting and dispositive power over these Class A Shares. However, the Reporting Person and his spouse disclaim any pecuniary interest in these Class A Shares.

SEC source: 0000899243-21-041362 · doc4.xml · nonDerivative · entry 9

RAUTH WILLIAM R III · CIK 0001213191 · Director · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnote

Disclosed balance after: 2,698

F1 · kind: On October 20, 2021, the Reporting Person sold these 72,859 Class A Shares, at a price of $130.87 per share, to irrevocable trusts previously established for his children and grandchildren in the respective numbers of Shares set forth below in this Form 4.

F1 · price: On October 20, 2021, the Reporting Person sold these 72,859 Class A Shares, at a price of $130.87 per share, to irrevocable trusts previously established for his children and grandchildren in the respective numbers of Shares set forth below in this Form 4.

F5 · ownership.nature: These Class A Shares were purchased from the Reporting Person and are owned by an irrevocable trust established for another of the Reporting Person's grandchildren. The Reporting Person's spouse has become the sole trustee of the trust. As a result, per SEC rule, the Reporting Person may be deemed to share, with his spouse, voting and dispositive power over these Class A Shares. However, the Reporting Person and his spouse disclaim any pecuniary interest in these Class A Shares.

SEC source: 0000899243-21-041362 · doc4.xml · nonDerivative · entry 8

RAUTH WILLIAM R III · CIK 0001213191 · Director · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnote

Disclosed balance after: 2,698

F1 · kind: On October 20, 2021, the Reporting Person sold these 72,859 Class A Shares, at a price of $130.87 per share, to irrevocable trusts previously established for his children and grandchildren in the respective numbers of Shares set forth below in this Form 4.

F1 · price: On October 20, 2021, the Reporting Person sold these 72,859 Class A Shares, at a price of $130.87 per share, to irrevocable trusts previously established for his children and grandchildren in the respective numbers of Shares set forth below in this Form 4.

F5 · ownership.nature: These Class A Shares were purchased from the Reporting Person and are owned by an irrevocable trust established for another of the Reporting Person's grandchildren. The Reporting Person's spouse has become the sole trustee of the trust. As a result, per SEC rule, the Reporting Person may be deemed to share, with his spouse, voting and dispositive power over these Class A Shares. However, the Reporting Person and his spouse disclaim any pecuniary interest in these Class A Shares.

SEC source: 0000899243-21-041362 · doc4.xml · nonDerivative · entry 7

RAUTH WILLIAM R III · CIK 0001213191 · Director · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnote

Disclosed balance after: 2,698

F1 · kind: On October 20, 2021, the Reporting Person sold these 72,859 Class A Shares, at a price of $130.87 per share, to irrevocable trusts previously established for his children and grandchildren in the respective numbers of Shares set forth below in this Form 4.

F1 · price: On October 20, 2021, the Reporting Person sold these 72,859 Class A Shares, at a price of $130.87 per share, to irrevocable trusts previously established for his children and grandchildren in the respective numbers of Shares set forth below in this Form 4.

F5 · ownership.nature: These Class A Shares were purchased from the Reporting Person and are owned by an irrevocable trust established for another of the Reporting Person's grandchildren. The Reporting Person's spouse has become the sole trustee of the trust. As a result, per SEC rule, the Reporting Person may be deemed to share, with his spouse, voting and dispositive power over these Class A Shares. However, the Reporting Person and his spouse disclaim any pecuniary interest in these Class A Shares.

SEC source: 0000899243-21-041362 · doc4.xml · nonDerivative · entry 6

RAUTH WILLIAM R III · CIK 0001213191 · Director · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnote

Disclosed balance after: 2,698

F1 · kind: On October 20, 2021, the Reporting Person sold these 72,859 Class A Shares, at a price of $130.87 per share, to irrevocable trusts previously established for his children and grandchildren in the respective numbers of Shares set forth below in this Form 4.

F1 · price: On October 20, 2021, the Reporting Person sold these 72,859 Class A Shares, at a price of $130.87 per share, to irrevocable trusts previously established for his children and grandchildren in the respective numbers of Shares set forth below in this Form 4.

F5 · ownership.nature: These Class A Shares were purchased from the Reporting Person and are owned by an irrevocable trust established for another of the Reporting Person's grandchildren. The Reporting Person's spouse has become the sole trustee of the trust. As a result, per SEC rule, the Reporting Person may be deemed to share, with his spouse, voting and dispositive power over these Class A Shares. However, the Reporting Person and his spouse disclaim any pecuniary interest in these Class A Shares.

SEC source: 0000899243-21-041362 · doc4.xml · nonDerivative · entry 5

RAUTH WILLIAM R III · CIK 0001213191 · Director · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnote

Disclosed balance after: 2,698

F1 · kind: On October 20, 2021, the Reporting Person sold these 72,859 Class A Shares, at a price of $130.87 per share, to irrevocable trusts previously established for his children and grandchildren in the respective numbers of Shares set forth below in this Form 4.

F1 · price: On October 20, 2021, the Reporting Person sold these 72,859 Class A Shares, at a price of $130.87 per share, to irrevocable trusts previously established for his children and grandchildren in the respective numbers of Shares set forth below in this Form 4.

F4 · ownership.nature: These Class A Shares were purchased from the Reporting Person and are owned by an irrevocable trust established for one of the Reporting Person's grandchildren. The Reporting Person's spouse is the sole trustee of the trust. As a result, per SEC rule, the Reporting Person may be deemed to share, with his spouse, voting and dispositive power over these Class A Shares. However, the Reporting Person and his spouse disclaim any pecuniary interest in these Class A Shares.

SEC source: 0000899243-21-041362 · doc4.xml · nonDerivative · entry 4

RAUTH WILLIAM R III · CIK 0001213191 · Director · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnote

Disclosed balance after: 16,193

F1 · kind: On October 20, 2021, the Reporting Person sold these 72,859 Class A Shares, at a price of $130.87 per share, to irrevocable trusts previously established for his children and grandchildren in the respective numbers of Shares set forth below in this Form 4.

F1 · price: On October 20, 2021, the Reporting Person sold these 72,859 Class A Shares, at a price of $130.87 per share, to irrevocable trusts previously established for his children and grandchildren in the respective numbers of Shares set forth below in this Form 4.

F3 · ownership.nature: These Class A Shares were purchased from the Reporting Person and are owned by an irrevocable trust established for another of the Reporting Person's children. The Reporting Person's spouse is the sole trustee of the trust. As a result, per SEC rule, the Reporting Person may be deemed to share, with his spouse, voting and dispositive power over these Class A Shares. However, the Reporting Person and his spouse disclaim any pecuniary interest in these Class A Shares.

SEC source: 0000899243-21-041362 · doc4.xml · nonDerivative · entry 3

RAUTH WILLIAM R III · CIK 0001213191 · Director · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnote

Disclosed balance after: 16,192

F1 · kind: On October 20, 2021, the Reporting Person sold these 72,859 Class A Shares, at a price of $130.87 per share, to irrevocable trusts previously established for his children and grandchildren in the respective numbers of Shares set forth below in this Form 4.

F1 · price: On October 20, 2021, the Reporting Person sold these 72,859 Class A Shares, at a price of $130.87 per share, to irrevocable trusts previously established for his children and grandchildren in the respective numbers of Shares set forth below in this Form 4.

F3 · ownership.nature: These Class A Shares were purchased from the Reporting Person and are owned by an irrevocable trust established for another of the Reporting Person's children. The Reporting Person's spouse is the sole trustee of the trust. As a result, per SEC rule, the Reporting Person may be deemed to share, with his spouse, voting and dispositive power over these Class A Shares. However, the Reporting Person and his spouse disclaim any pecuniary interest in these Class A Shares.

SEC source: 0000899243-21-041362 · doc4.xml · nonDerivative · entry 2

RAUTH WILLIAM R III · CIK 0001213191 · Director · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnote

Disclosed balance after: 16,192

F1 · kind: On October 20, 2021, the Reporting Person sold these 72,859 Class A Shares, at a price of $130.87 per share, to irrevocable trusts previously established for his children and grandchildren in the respective numbers of Shares set forth below in this Form 4.

F1 · price: On October 20, 2021, the Reporting Person sold these 72,859 Class A Shares, at a price of $130.87 per share, to irrevocable trusts previously established for his children and grandchildren in the respective numbers of Shares set forth below in this Form 4.

F2 · ownership.nature: These Class A Shares were purchased from the Reporting Person and are owned by an irrevocable trust established for one of the Reporting Person's children. The Reporting Person's spouse is the sole trustee of the trust. As a result, per a rule of the Securities and Exchange Commission (the "SEC"), the Reporting Person may be deemed to share, with his spouse, voting and dispositive power over the Class A Shares. However, the Reporting Person and his spouse disclaim any pecuniary interest in these Class A Shares.

SEC source: 0000899243-21-041362 · doc4.xml · nonDerivative · entry 1

RAUTH WILLIAM R III · CIK 0001213191 · Director · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

F1 · kind: On October 20, 2021, the Reporting Person sold these 72,859 Class A Shares, at a price of $130.87 per share, to irrevocable trusts previously established for his children and grandchildren in the respective numbers of Shares set forth below in this Form 4.

F1 · price: On October 20, 2021, the Reporting Person sold these 72,859 Class A Shares, at a price of $130.87 per share, to irrevocable trusts previously established for his children and grandchildren in the respective numbers of Shares set forth below in this Form 4.

SEC source: 0001433195-21-000098 · wf-form4_163477399052588.xml · nonDerivative · entry 2

Goon Fay Sien · CIK 0001769660 · Chief Financial Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 50,096

F2 · security: Represents a grant of time-based restricted stock units (RSUs) granted pursuant to the Issuer's 2015 Stock Incentive Plan. The RSUs shall vest over four years with 25% of the restricted stock units vesting annually beginning November 10, 2022.

SEC source: 0001433195-21-000098 · wf-form4_163477399052588.xml · nonDerivative · entry 1

Goon Fay Sien · CIK 0001769660 · Chief Financial Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 45,541

F1 · security: Represents a grant of time-based restricted stock units (RSUs) granted pursuant to the Issuer's 2015 Stock Incentive Plan. The RSUs shall vest over five years with 20% of the restricted stock units vesting annually beginning November 10, 2022.

SEC source: 0000899243-21-038058 · doc4.xml · derivative · entry 12

RAUTH WILLIAM R III · CIK 0001213191 · Director · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: Class A Common Stock · 72,859 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · kind: The Reporting Person acquired these 72,859 shares of Appfolio Class A Common Stock ("Class A Shares") by converting a like number of shares of Appfolio Class B Common Stock ("Class B Shares") that were owned by the Reporting Person.

F1 · price: The Reporting Person acquired these 72,859 shares of Appfolio Class A Common Stock ("Class A Shares") by converting a like number of shares of Appfolio Class B Common Stock ("Class B Shares") that were owned by the Reporting Person.

F2 · price: 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).

F3 · price: (Continued from Footnote 2) AppFolio's Class B Shares do not have an expiration date. 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.

F2 · derivative.exercise_date: 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).

F3 · derivative.exercise_date: (Continued from Footnote 2) AppFolio's Class B Shares do not have an expiration date. 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.

F2 · derivative.expiration_date: 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).

F3 · derivative.expiration_date: (Continued from Footnote 2) AppFolio's Class B Shares do not have an expiration date. 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.

SEC source: 0000899243-21-038058 · doc4.xml · nonDerivative · entry 1

RAUTH WILLIAM R III · CIK 0001213191 · Director · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 72,859

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · kind: The Reporting Person acquired these 72,859 shares of Appfolio Class A Common Stock ("Class A Shares") by converting a like number of shares of Appfolio Class B Common Stock ("Class B Shares") that were owned by the Reporting Person.

F1 · price: The Reporting Person acquired these 72,859 shares of Appfolio Class A Common Stock ("Class A Shares") by converting a like number of shares of Appfolio Class B Common Stock ("Class B Shares") that were owned by the Reporting Person.

F2 · price: 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).

F3 · price: (Continued from Footnote 2) AppFolio's Class B Shares do not have an expiration date. 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.

SEC source: 0001433195-21-000092 · wf-form4_163184315394294.xml · derivative · entry 6

Walker Jonathan · CIK 0001643523 · Chief Technology Officer

10b5-1 filing: Not disclosed

Ownership: Indirect · By Trust

Disclosed balance after: 571,802

Underlying: Class A Common Stock · 20,000 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_date: 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 that occurs after the consummation of the initial public offering (the "IPO") of AppFolio, Inc. (the "Issuer"), except for any transfers by (i) a partnership or limited liability company that was a registered holder of shares of Class B Common Stock at the effective time of the IPO 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.

F2 · derivative.exercise_date: All 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 Issuer'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.

F1 · derivative.expiration_date: 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 that occurs after the consummation of the initial public offering (the "IPO") of AppFolio, Inc. (the "Issuer"), except for any transfers by (i) a partnership or limited liability company that was a registered holder of shares of Class B Common Stock at the effective time of the IPO 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.

F2 · derivative.expiration_date: All 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 Issuer'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.

SEC source: 0001433195-21-000092 · wf-form4_163184315394294.xml · derivative · entry 5

Walker Jonathan · CIK 0001643523 · Chief Technology Officer

10b5-1 filing: Not disclosed

Ownership: Indirect · By Trust

Disclosed balance after: 591,802

Underlying: Class A Common Stock · 20,000 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_date: 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 that occurs after the consummation of the initial public offering (the "IPO") of AppFolio, Inc. (the "Issuer"), except for any transfers by (i) a partnership or limited liability company that was a registered holder of shares of Class B Common Stock at the effective time of the IPO 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.

F2 · derivative.exercise_date: All 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 Issuer'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.

F1 · derivative.expiration_date: 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 that occurs after the consummation of the initial public offering (the "IPO") of AppFolio, Inc. (the "Issuer"), except for any transfers by (i) a partnership or limited liability company that was a registered holder of shares of Class B Common Stock at the effective time of the IPO 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.

F2 · derivative.expiration_date: All 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 Issuer'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.

SEC source: 0001433195-21-000092 · wf-form4_163184315394294.xml · derivative · entry 4

Walker Jonathan · CIK 0001643523 · Chief Technology Officer

10b5-1 filing: Not disclosed

Ownership: Indirect · By Trust

Disclosed balance after: 54,425

Underlying: Class B Common Stock · 20,000 shares

Expires 2024-12-03

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.underlying: 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 that occurs after the consummation of the initial public offering (the "IPO") of AppFolio, Inc. (the "Issuer"), except for any transfers by (i) a partnership or limited liability company that was a registered holder of shares of Class B Common Stock at the effective time of the IPO 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.

F2 · derivative.underlying: All 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 Issuer'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.

SEC source: 0001433195-21-000092 · wf-form4_163184315394294.xml · nonDerivative · entry 3

Walker Jonathan · CIK 0001643523 · Chief Technology Officer

10b5-1 filing: Not disclosed

Ownership: Indirect · By Trust

Disclosed balance after: 25,274

SEC source: 0001433195-21-000092 · wf-form4_163184315394294.xml · nonDerivative · entry 2

Walker Jonathan · CIK 0001643523 · Chief Technology Officer

10b5-1 filing: Not disclosed

Ownership: Indirect · By Trust

Disclosed balance after: 34,873

SEC source: 0001433195-21-000092 · wf-form4_163184315394294.xml · nonDerivative · entry 1

Walker Jonathan · CIK 0001643523 · Chief Technology Officer

10b5-1 filing: Not disclosed

Ownership: Indirect · By Trust

Disclosed balance after: 35,674

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

SEC source: 0001433195-21-000085 · wf-form4_163123300459699.xml · derivative · entry 7

Walker Jonathan · CIK 0001643523 · Chief Technology Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 7,194

Underlying: Class A Common Stock · 2,500 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F4 · derivative.exercise_date: 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.

F5 · derivative.exercise_date: 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.

F4 · derivative.expiration_date: 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.

F5 · derivative.expiration_date: 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.

SEC source: 0001433195-21-000085 · wf-form4_163123300459699.xml · nonDerivative · entry 5

Walker Jonathan · CIK 0001643523 · Chief Technology Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

F3 · price: This transaction was executed in multiple trades with sales prices ranging from $121.00 to $121.76. The price reported above reflects the weighted average sales price for the cumulative trades. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer information regarding the individual trades.

SEC source: 0001433195-21-000085 · wf-form4_163123300459699.xml · nonDerivative · entry 4

Walker Jonathan · CIK 0001643523 · Chief Technology Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 2,500

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

SEC source: 0001433195-21-000085 · wf-form4_163123300459699.xml · derivative · entry 6

Walker Jonathan · CIK 0001643523 · Chief Technology Officer

10b5-1 filing: Not disclosed

Ownership: Indirect · By Trust

Disclosed balance after: 571,802

Underlying: Class A Common Stock · 8,000 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F4 · derivative.exercise_date: 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.

F5 · derivative.exercise_date: 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.

F4 · derivative.expiration_date: 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.

F5 · derivative.expiration_date: 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.

SEC source: 0001433195-21-000085 · wf-form4_163123300459699.xml · nonDerivative · entry 3

Walker Jonathan · CIK 0001643523 · Chief Technology Officer

10b5-1 filing: Not disclosed

Ownership: Indirect · By Trust

Disclosed balance after: 15,674

F2 · price: This transaction was executed in multiple trades with sales prices ranging from $122.19 to $122.88. The price reported above reflects the weighted average sales price for the cumulative trades. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer information regarding the individual trades.

SEC source: 0001433195-21-000085 · wf-form4_163123300459699.xml · nonDerivative · entry 2

Walker Jonathan · CIK 0001643523 · Chief Technology Officer

10b5-1 filing: Not disclosed

Ownership: Indirect · By Trust

Disclosed balance after: 17,074

F1 · price: This transaction was executed in multiple trades with sales prices ranging from $121.19 to $122.15. The price reported above reflects the weighted average sales price for the cumulative trades. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer information regarding the individual trades.

SEC source: 0001433195-21-000085 · wf-form4_163123300459699.xml · nonDerivative · entry 1

Walker Jonathan · CIK 0001643523 · Chief Technology Officer

10b5-1 filing: Not disclosed

Ownership: Indirect · By Trust

Disclosed balance after: 23,674

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

SEC source: 0001433195-21-000082 · wf-form4_163010839114484.xml · nonDerivative · entry 1

KERR JANET · CIK 0001286334 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By Trust

Disclosed balance after: 17,398

F1 · shares: These shares were sold pursuant to a Rule 10b5-1 Plan adopted by Ms. Kerr on or around March 9, 2021.

F2 · ownership.nature: The shares of Class A Common Stock reported on the table above are held by the Janet Kerr Family Trust dated 7/16/2004, of which Ms. Kerr is the Trustee.

SEC source: 0001433195-21-000071 · wf-form4_162510017293968.xml · nonDerivative · entry 1

Bundy Scanlan Agnes · CIK 0001701617 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 2,795

F1 · security: The shares are granted pursuant to Issuer's 2015 Stock Incentive Plan and are subject to repurchase by the Issuer. The shares shall vest 100% on the first anniversary of the date of grant.

SEC source: 0001433195-21-000073 · wf-form4_162510026177992.xml · nonDerivative · entry 1

Webb Winifred Markus · CIK 0001439919 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 4,177

F1 · security: The shares are granted pursuant to Issuer's 2015 Stock Incentive Plan and are subject to repurchase by the Issuer. The shares shall vest 100% on the first anniversary of the date of grant.

SEC source: 0001433195-21-000067 · wf-form4_162509988158851.xml · nonDerivative · entry 2

KERR JANET · CIK 0001286334 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By Trust

Disclosed balance after: 17,748

F3 · shares: These shares were sold pursuant to a Rule 10b5-1 Plan adopted by Ms. Kerr on or around March 9, 2021.

F2 · ownership.nature: The shares of Class A Common Stock reported on the table above are held by the Janet Kerr Family Trust dated 7/16/2004, of which Ms. Kerr is the Trustee.

SEC source: 0001433195-21-000067 · wf-form4_162509988158851.xml · nonDerivative · entry 1

KERR JANET · CIK 0001286334 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By Trust

Disclosed balance after: 18,098

F1 · security: The shares are granted pursuant to Issuer's 2015 Stock Incentive Plan and are subject to repurchase by the Issuer. The shares shall vest 100% on the first anniversary of the date of grant.

F2 · ownership.nature: The shares of Class A Common Stock reported on the table above are held by the Janet Kerr Family Trust dated 7/16/2004, of which Ms. Kerr is the Trustee.

SEC source: 0001433195-21-000069 · wf-form4_162509998058400.xml · nonDerivative · entry 1

von Blottnitz Andreas · CIK 0001643507 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 2,971

F1 · security: The shares are granted pursuant to Issuer's 2015 Stock Incentive Plan and are subject to repurchase by the Issuer. The shares shall vest 100% on the first anniversary of the date of grant.

SEC source: 0001433195-21-000065 · wf-form4_162371471729068.xml · nonDerivative · entry 1

WILSON ANN M · CIK 0001349119 · Principal Accounting Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 5,949

F1 · security: 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 June 10, 2021 of 25% of the restricted stock units previously granted to the Reporting Person on May 18, 2017 pursuant to the Issuer's 2015 Stock Incentive Plan.

SEC source: 0001433195-21-000048 · wf-form4_162129649625865.xml · derivative · entry 5

Kane Ida Kathleen · CIK 0001315423 · Chief Financial Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: Class A Common Stock · 375 shares

Expires 2027-02-24

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

SEC source: 0001433195-21-000048 · wf-form4_162129649625865.xml · derivative · entry 4

Kane Ida Kathleen · CIK 0001315423 · Chief Financial Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 83,921

Underlying: Class A Common Stock · 83,921 shares

Expires not disclosed

F1 · derivative.exercise_date: 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 that occurs after the consummation of the initial public offering (the "IPO") of the Issuer, except for any transfers by (i) a partnership or limited liability company that was a registered holder of shares of Class B Common Stock at the effective time of the IPO 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.

F2 · derivative.exercise_date: All 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 Issuer'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.

F1 · derivative.expiration_date: 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 that occurs after the consummation of the initial public offering (the "IPO") of the Issuer, except for any transfers by (i) a partnership or limited liability company that was a registered holder of shares of Class B Common Stock at the effective time of the IPO 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.

F2 · derivative.expiration_date: All 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 Issuer'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.

SEC source: 0001433195-21-000048 · wf-form4_162129649625865.xml · derivative · entry 3

Kane Ida Kathleen · CIK 0001315423 · Chief Financial Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: Class B Common Stock · 83,921 shares

Expires 2025-02-01

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.underlying: 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 that occurs after the consummation of the initial public offering (the "IPO") of the Issuer, except for any transfers by (i) a partnership or limited liability company that was a registered holder of shares of Class B Common Stock at the effective time of the IPO 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.

F2 · derivative.underlying: All 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 Issuer'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.

SEC source: 0001433195-21-000048 · wf-form4_162129649625865.xml · nonDerivative · entry 1

Kane Ida Kathleen · CIK 0001315423 · Chief Financial Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 375

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

SEC source: 0000899243-21-046860 · doc4.xml · derivative · entry 4

BLISS TIMOTHY K · CIK 0000938332 · Director · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By Family Trust

Disclosed balance after: 536,150

Underlying: Class A Common Stock · 1,800 shares

Expires not disclosed

F6 · shares: These Class B Shares were donated by the Reporting Person to a charitable organization.

F2 · derivative.exercise_date: Each Class B Share is convertible, at any time at the option of the holder, into one share of Appfolio Class A Common Stock ("Class A Shares"). 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).

F3 · derivative.exercise_date: (Continued from Footnote 2) AppFolio's Class B Shares do not have an expiration date. 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.

F2 · derivative.expiration_date: Each Class B Share is convertible, at any time at the option of the holder, into one share of Appfolio Class A Common Stock ("Class A Shares"). 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).

F3 · derivative.expiration_date: (Continued from Footnote 2) AppFolio's Class B Shares do not have an expiration date. 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.

SEC source: 0001433195-21-000046 · wf-form4_162086531193531.xml · nonDerivative · entry 1

Trigg William Shane · CIK 0001837400 · General Manager, Real Estate

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 40,343

F1 · security: 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 May 10, 2021 of 20% of the restricted stock units previously granted to the Reporting Person on April 13, 2020 pursuant to the Issuer's 2015 Stock Incentive Plan.

SEC source: 0000899243-21-017202 · doc4.xml · nonDerivative · entry 1

DUCA MAURICE J · CIK 0000938333 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 78,397

F1 · kind: These Class A Shares were sold on behalf of the Reporting Person pursuant to a 10(b)5-1 Plan previously adopted by the Reporting Person.

F1 · acquired: These Class A Shares were sold on behalf of the Reporting Person pursuant to a 10(b)5-1 Plan previously adopted by the Reporting Person.

SEC source: 0001433195-21-000028 · wf-form4_161593990170985.xml · nonDerivative · entry 5

Kane Ida Kathleen · CIK 0001315423 · Chief Financial Officer

10b5-1 filing: Not disclosed

Ownership: Indirect · By Trust

Disclosed balance after: 4,436

SEC source: 0001433195-21-000028 · wf-form4_161593990170985.xml · nonDerivative · entry 4

Kane Ida Kathleen · CIK 0001315423 · Chief Financial Officer

10b5-1 filing: Not disclosed

Ownership: Indirect · By Trust

Disclosed balance after: 4,636

SEC source: 0001433195-21-000028 · wf-form4_161593990170985.xml · derivative · entry 6

Kane Ida Kathleen · CIK 0001315423 · Chief Financial Officer

10b5-1 filing: Not disclosed

Ownership: Indirect · By Trust

Disclosed balance after: 0

Underlying: Class A Common Stock · 14,436 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_date: All 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 Issuer'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.

F2 · derivative.exercise_date: 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 (i) by 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) 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.

F1 · derivative.expiration_date: All 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 Issuer'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.

F2 · derivative.expiration_date: 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 (i) by 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) 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.