APPF

SEC source: 0001433195-21-000028 · wf-form4_161593990170985.xml · nonDerivative · entry 3

Kane Ida Kathleen · CIK 0001315423 · Chief Financial Officer

10b5-1 filing: Not disclosed

Ownership: Indirect · By Trust

Disclosed balance after: 9,436

SEC source: 0001433195-21-000028 · wf-form4_161593990170985.xml · nonDerivative · entry 2

Kane Ida Kathleen · CIK 0001315423 · Chief Financial Officer

10b5-1 filing: Not disclosed

Ownership: Indirect · By Trust

Disclosed balance after: 11,936

SEC source: 0001433195-21-000028 · wf-form4_161593990170985.xml · nonDerivative · entry 1

Kane Ida Kathleen · CIK 0001315423 · Chief Financial Officer

10b5-1 filing: Not disclosed

Ownership: Indirect · By Trust

Disclosed balance after: 14,436

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: 0001433195-21-000026 · wf-form4_161473296375589.xml · nonDerivative · entry 1

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 42,889

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 February 26, 2021 of 100% 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: 0001433195-21-000013 · wf-form4_161378374008304.xml · derivative · entry 3

Walker Jonathan · CIK 0001643523 · Chief Technology Officer

10b5-1 filing: Not disclosed

Ownership: Indirect · By Trust

Disclosed balance after: 601,708

Underlying: Class A Common Stock · 30,000 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.

F3 · 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.

F4 · 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.

F3 · 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.

F4 · 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: 0001433195-21-000013 · wf-form4_161378374008304.xml · nonDerivative · entry 2

Walker Jonathan · CIK 0001643523 · Chief Technology Officer

10b5-1 filing: Not disclosed

Ownership: Indirect · By Trust

Disclosed balance after: 3,462

F1 · shares: These shares were sold pursuant to a Rule 10b5-1 Plan adopted by Mr. Walker on or around October 30, 2019.

F2 · price: This transaction was executed in multiple trades with sales prices ranging from $175.11 to $175.64. 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: 0001433195-21-000013 · wf-form4_161378374008304.xml · nonDerivative · entry 1

Walker Jonathan · CIK 0001643523 · Chief Technology Officer

10b5-1 filing: Not disclosed

Ownership: Indirect · By Trust

Disclosed balance after: 33,462

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: 0000899243-21-007157 · doc4.xml · derivative · entry 13

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 72,859

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 · kind: The Reporting Person acquired these 20,000 shares of Appfolio Class A Common Stock ("Class A Shares") on his conversion of 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 20,000 shares of Appfolio Class A Common Stock ("Class A Shares") on his conversion of 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: 0000899243-21-007157 · doc4.xml · nonDerivative · entry 2

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

F4 · kind: This sale was made pursuant to a 10(b)5-1 Plan previously adopted by the Reporting Person.

SEC source: 0000899243-21-007157 · doc4.xml · nonDerivative · entry 1

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 20,000

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 20,000 shares of Appfolio Class A Common Stock ("Class A Shares") on his conversion of 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 20,000 shares of Appfolio Class A Common Stock ("Class A Shares") on his conversion of 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: 0001433195-21-000009 · wf-form4_161257300244105.xml · nonDerivative · entry 1

KERR JANET · CIK 0001286334 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By Trust

Disclosed balance after: 17,059

F1 · shares: These shares were sold pursuant to a Rule 10b5-1 Plan adopted by Ms. Kerr on or around May 11, 2020.

F2 · ownership.nature: The shares of Class A Common Stock reported on the table above are held by the Janet Kerr Family Trust dated 7/19/2014, of which Ms. Kerr is the Trustee.

SEC source: 0001433195-21-000004 · wf-form4_161127892639633.xml · nonDerivative · entry 1

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 43,505

F1 · security: Represents a grant of performance-based restricted stock units (RSUs) granted pursuant to the Issuer's 2015 Stock Incentive Plan. The RSUs shall vest, if earned, on or around March 1, 2024 subject to the satisfaction of certain performance criteria. If the performance criteria is not achieved at the threshold level, no vesting will occur and RSUs will be forfeited and cancelled.

SEC source: 0001433195-21-000002 · wf-form4_161049999770636.xml · nonDerivative · entry 1

Walker Jonathan · CIK 0001643523 · Chief Technology Officer

10b5-1 filing: Not disclosed

Ownership: Indirect · By Trust

Disclosed balance after: 3,462

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 January 10, 2021 of one-fourth of the restricted stock units previously granted to the Reporting Person on December 17, 2019 pursuant to the Issuer's 2015 Stock Incentive Plan.

SEC source: 0000899243-21-006714 · doc5.xml · derivative · entry 9

DUCA MAURICE J · CIK 0000938333 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By Family Trust

Disclosed balance after: 45,944

Underlying: Class A Common Stock · 35,478 shares

Expires not disclosed

F7 · derivative.exercise_price: The shares of the issuer's Class B Common Stock (the "Class B Shares") are convertible, on a one share-for-one share basis, into shares of issuer's Class A Common Stock, at any time at the option of the holder. 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).

F8 · derivative.exercise_price: [Continued from Footnote (7).] The issuer'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 issuer's outstanding Class B Shares represents less than 10% of the sum of its outstanding Class A and Class B Shares.

F10 · shares: On December 30, 2020, the Reporting Person's family trust made, without consideration, contributions totaling 35,478 Class B Shares, divided between two grantor trusts established for the Reporting Person's adult children. The Reporting Person is neither a trustee nor a beneficiary of these two grantor trusts and, therefore, his beneficial ownership of, and his pecuniary interest in, these 35,478 Class B Shares ceased upon these contributions.

F7 · derivative.exercise_date: The shares of the issuer's Class B Common Stock (the "Class B Shares") are convertible, on a one share-for-one share basis, into shares of issuer's Class A Common Stock, at any time at the option of the holder. 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).

F8 · derivative.exercise_date: [Continued from Footnote (7).] The issuer'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 issuer's outstanding Class B Shares represents less than 10% of the sum of its outstanding Class A and Class B Shares.

F7 · derivative.expiration_date: The shares of the issuer's Class B Common Stock (the "Class B Shares") are convertible, on a one share-for-one share basis, into shares of issuer's Class A Common Stock, at any time at the option of the holder. 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).

F8 · derivative.expiration_date: [Continued from Footnote (7).] The issuer'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 issuer's outstanding Class B Shares represents less than 10% of the sum of its outstanding Class A and Class B Shares.

F11 · balance_after: The charitable donation to the private foundation and the contributions to the two grantor trusts referenced, respectively, in footnote (9) and footnote (10) above, reduced the total number of Class B Shares held, as of December 31, 2020, by the Reporting Person in his family trust to 45,944 Class B Shares.

SEC source: 0000899243-21-006714 · doc5.xml · nonDerivative · entry 4

DUCA MAURICE J · CIK 0000938333 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By Private Foundation

Disclosed balance after: 8,478

F5 · shares: Gives effect to the receipt by a private foundation, of which the Reporting Person is the president, of a third party donation of 8,478 Class A Shares. The Reporting Person does not have any pecuniary interest in these Class A Shares. Also, although the Reporting Person is president of the foundation, he nevertheless disclaims beneficial ownership of these Shares because decisions with respect to the voting and disposition of these Class A Shares are subject to the oversight and approval of the foundation's five-member board of directors.

F5 · balance_after: Gives effect to the receipt by a private foundation, of which the Reporting Person is the president, of a third party donation of 8,478 Class A Shares. The Reporting Person does not have any pecuniary interest in these Class A Shares. Also, although the Reporting Person is president of the foundation, he nevertheless disclaims beneficial ownership of these Shares because decisions with respect to the voting and disposition of these Class A Shares are subject to the oversight and approval of the foundation's five-member board of directors.

F5 · ownership.nature: Gives effect to the receipt by a private foundation, of which the Reporting Person is the president, of a third party donation of 8,478 Class A Shares. The Reporting Person does not have any pecuniary interest in these Class A Shares. Also, although the Reporting Person is president of the foundation, he nevertheless disclaims beneficial ownership of these Shares because decisions with respect to the voting and disposition of these Class A Shares are subject to the oversight and approval of the foundation's five-member board of directors.

SEC source: 0001433195-20-000106 · wf-form4_160920267446657.xml · derivative · entry 2

Walker Jonathan · CIK 0001643523 · Chief Technology Officer

10b5-1 filing: Not disclosed

Ownership: Indirect · By Trust

Disclosed balance after: 631,708

Underlying: Class B Common Stock · 12,212 shares

Expires 2026-05-20

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: 0001433195-20-000106 · wf-form4_160920267446657.xml · derivative · entry 1

Walker Jonathan · CIK 0001643523 · Chief Technology Officer

10b5-1 filing: Not disclosed

Ownership: Indirect · By Trust

Disclosed balance after: 619,496

Underlying: Class B Common Stock · 575 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: 0000899243-21-006714 · doc5.xml · derivative · entry 8

DUCA MAURICE J · CIK 0000938333 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By Family Trust

Disclosed balance after: 81,422

Underlying: Class A Common Stock · 10,169 shares

Expires not disclosed

F7 · derivative.exercise_price: The shares of the issuer's Class B Common Stock (the "Class B Shares") are convertible, on a one share-for-one share basis, into shares of issuer's Class A Common Stock, at any time at the option of the holder. 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).

F8 · derivative.exercise_price: [Continued from Footnote (7).] The issuer'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 issuer's outstanding Class B Shares represents less than 10% of the sum of its outstanding Class A and Class B Shares.

F9 · shares: On December 23, 2020, the Reporting Person's revocable family trust made a charitable donation of 10,169 Class B Shares to the private foundation referenced in footnote (5) above. The Reporting Person does not have any pecuniary interest in these Class B Shares and, for the reason stated in footnote (5), he also disclaims beneficial ownership of these Class B Shares.

F7 · derivative.exercise_date: The shares of the issuer's Class B Common Stock (the "Class B Shares") are convertible, on a one share-for-one share basis, into shares of issuer's Class A Common Stock, at any time at the option of the holder. 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).

F8 · derivative.exercise_date: [Continued from Footnote (7).] The issuer'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 issuer's outstanding Class B Shares represents less than 10% of the sum of its outstanding Class A and Class B Shares.

F7 · derivative.expiration_date: The shares of the issuer's Class B Common Stock (the "Class B Shares") are convertible, on a one share-for-one share basis, into shares of issuer's Class A Common Stock, at any time at the option of the holder. 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).

F8 · derivative.expiration_date: [Continued from Footnote (7).] The issuer'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 issuer's outstanding Class B Shares represents less than 10% of the sum of its outstanding Class A and Class B Shares.

SEC source: 0000899243-21-006714 · doc5.xml · derivative · entry 7

DUCA MAURICE J · CIK 0000938333 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By Private Foundation

Disclosed balance after: 12,828

Underlying: Class A Common Stock · 10,169 shares

Expires not disclosed

F7 · derivative.exercise_price: The shares of the issuer's Class B Common Stock (the "Class B Shares") are convertible, on a one share-for-one share basis, into shares of issuer's Class A Common Stock, at any time at the option of the holder. 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).

F8 · derivative.exercise_price: [Continued from Footnote (7).] The issuer'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 issuer's outstanding Class B Shares represents less than 10% of the sum of its outstanding Class A and Class B Shares.

F9 · shares: On December 23, 2020, the Reporting Person's revocable family trust made a charitable donation of 10,169 Class B Shares to the private foundation referenced in footnote (5) above. The Reporting Person does not have any pecuniary interest in these Class B Shares and, for the reason stated in footnote (5), he also disclaims beneficial ownership of these Class B Shares.

F7 · derivative.exercise_date: The shares of the issuer's Class B Common Stock (the "Class B Shares") are convertible, on a one share-for-one share basis, into shares of issuer's Class A Common Stock, at any time at the option of the holder. 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).

F8 · derivative.exercise_date: [Continued from Footnote (7).] The issuer'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 issuer's outstanding Class B Shares represents less than 10% of the sum of its outstanding Class A and Class B Shares.

F7 · derivative.expiration_date: The shares of the issuer's Class B Common Stock (the "Class B Shares") are convertible, on a one share-for-one share basis, into shares of issuer's Class A Common Stock, at any time at the option of the holder. 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).

F8 · derivative.expiration_date: [Continued from Footnote (7).] The issuer'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 issuer's outstanding Class B Shares represents less than 10% of the sum of its outstanding Class A and Class B Shares.

F9 · ownership.nature: On December 23, 2020, the Reporting Person's revocable family trust made a charitable donation of 10,169 Class B Shares to the private foundation referenced in footnote (5) above. The Reporting Person does not have any pecuniary interest in these Class B Shares and, for the reason stated in footnote (5), he also disclaims beneficial ownership of these Class B Shares.

SEC source: 0001433195-21-000050 · wf-form4a_162129657776057.xml · derivative · entry 4

Walker Jonathan · CIK 0001643523 · Chief Technology Officer

10b5-1 filing: Not disclosed

Ownership: Indirect · By Trust

Disclosed balance after: 32,789

Underlying: Class A Common Stock · 12,212 shares

Expires 2026-05-20

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 · security: This Form 4/A amends the Form 4 filed on December 28, 2020 to correct administrative errors in reporting two option exercises that occurred on December 23, 2020. The Form 4 filed on December 28, 2020 reported an acquisition of a total of 575 Employee Stock Options for the purchase of Class B Common stock at $4.92 per share and an acquisition of a total of 12,212 Employee Stock Options for the purchase of Class B Common stock at $13.43 per share. In fact, on December 23, 2020, Mr. Walker exercised 575 Employee Stock Options to purchase 575 shares of Class B Common stock at $4.92 per share, and exercised a total of 12,12 Employee Stock Options for the purchase of Class A Common stock at $13.43 per share. This Form 4 updates Mr. Walker's Employee Stock Option holdings, Class B Common Stock holdings and Class A Common stock holdings accordingly, as of the date of the original transaction.

SEC source: 0001433195-21-000050 · wf-form4a_162129657776057.xml · derivative · entry 3

Walker Jonathan · CIK 0001643523 · Chief Technology Officer

10b5-1 filing: Not disclosed

Ownership: Indirect · By Trust

Disclosed balance after: 619,496

Underlying: Class A Common Stock · 575 shares

Expires not disclosed

F1 · security: This Form 4/A amends the Form 4 filed on December 28, 2020 to correct administrative errors in reporting two option exercises that occurred on December 23, 2020. The Form 4 filed on December 28, 2020 reported an acquisition of a total of 575 Employee Stock Options for the purchase of Class B Common stock at $4.92 per share and an acquisition of a total of 12,212 Employee Stock Options for the purchase of Class B Common stock at $13.43 per share. In fact, on December 23, 2020, Mr. Walker exercised 575 Employee Stock Options to purchase 575 shares of Class B Common stock at $4.92 per share, and exercised a total of 12,12 Employee Stock Options for the purchase of Class A Common stock at $13.43 per share. This Form 4 updates Mr. Walker's Employee Stock Option holdings, Class B Common Stock holdings and Class A Common stock holdings accordingly, as of the date of the original transaction.

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 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.

F3 · 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.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.

F3 · 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: 0001433195-21-000050 · wf-form4a_162129657776057.xml · derivative · entry 2

Walker Jonathan · CIK 0001643523 · Chief Technology Officer

10b5-1 filing: Not disclosed

Ownership: Indirect · By Trust

Disclosed balance after: 74,425

Underlying: Class B Common Stock · 575 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 · security: This Form 4/A amends the Form 4 filed on December 28, 2020 to correct administrative errors in reporting two option exercises that occurred on December 23, 2020. The Form 4 filed on December 28, 2020 reported an acquisition of a total of 575 Employee Stock Options for the purchase of Class B Common stock at $4.92 per share and an acquisition of a total of 12,212 Employee Stock Options for the purchase of Class B Common stock at $13.43 per share. In fact, on December 23, 2020, Mr. Walker exercised 575 Employee Stock Options to purchase 575 shares of Class B Common stock at $4.92 per share, and exercised a total of 12,12 Employee Stock Options for the purchase of Class A Common stock at $13.43 per share. This Form 4 updates Mr. Walker's Employee Stock Option holdings, Class B Common Stock holdings and Class A Common stock holdings accordingly, as of the date of the original transaction.

F2 · 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.

F3 · 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: 0001433195-21-000050 · wf-form4a_162129657776057.xml · nonDerivative · entry 1

Walker Jonathan · CIK 0001643523 · Chief Technology Officer

10b5-1 filing: Not disclosed

Ownership: Indirect · By Trust

Disclosed balance after: 15,940

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 · security: This Form 4/A amends the Form 4 filed on December 28, 2020 to correct administrative errors in reporting two option exercises that occurred on December 23, 2020. The Form 4 filed on December 28, 2020 reported an acquisition of a total of 575 Employee Stock Options for the purchase of Class B Common stock at $4.92 per share and an acquisition of a total of 12,212 Employee Stock Options for the purchase of Class B Common stock at $13.43 per share. In fact, on December 23, 2020, Mr. Walker exercised 575 Employee Stock Options to purchase 575 shares of Class B Common stock at $4.92 per share, and exercised a total of 12,12 Employee Stock Options for the purchase of Class A Common stock at $13.43 per share. This Form 4 updates Mr. Walker's Employee Stock Option holdings, Class B Common Stock holdings and Class A Common stock holdings accordingly, as of the date of the original transaction.

SEC source: 0001433195-21-000011 · wf-form5_161317821047439.xml · nonDerivative · entry 8

Schauser Klaus · CIK 0001643445 · Director · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By 1206 Family Trust

Disclosed balance after: 200,000

F1 · ownership.nature: Shares are held by 1206 Family Trust dated December 13, 2002, of which Mr. Schauser and his spouse serve as co-trustees.

SEC source: 0000899243-21-006610 · doc5.xml · derivative · entry 3

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

10b5-1 filing: Not disclosed

Ownership: Indirect · By Family Trust

Disclosed balance after: 537,950

Underlying: Class A Common Stock · 17,800 shares

Expires not disclosed

F1 · derivative.exercise_price: The shares of issuer's Class B Common Stock ("Class B Shares") are convertible, on a one share-for-one share basis, into shares of issuer's Class A Common Stock ("Class A Shares"), at any time at the option of the holder. 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).

F2 · derivative.exercise_price: (Continued from Footnote (1).) The issuer'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 issuer's outstanding Class B Shares represents less than 10% of the sum of its outstanding Class A and Class B Shares.

F5 · shares: Reflects the effects of the following transactions on the number of Class B Shares held by the Bliss Family Trust: (i) decreases of 15,600 Class B Shares and 2,200 Class B Shares contributed by the Bliss Family Trust to Grantor Trust 1 and Grantor Trust 2, respectively, as described in footnotes (3) and (4) above; and (ii) an increase of 26,769 Class B Shares as a result of a contribution, without consideration, by the Reporting Person to the Bliss Family Trust of 26,769 Class B Shares that had been owned directly by him. These contributions did not change the number of Class B Shares that are deemed to be beneficially owned by the Reporting Person.

F1 · derivative.exercise_date: The shares of issuer's Class B Common Stock ("Class B Shares") are convertible, on a one share-for-one share basis, into shares of issuer's Class A Common Stock ("Class A Shares"), at any time at the option of the holder. 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).

F2 · derivative.exercise_date: (Continued from Footnote (1).) The issuer'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 issuer's outstanding Class B Shares represents less than 10% of the sum of its outstanding Class A and Class B Shares.

F1 · derivative.expiration_date: The shares of issuer's Class B Common Stock ("Class B Shares") are convertible, on a one share-for-one share basis, into shares of issuer's Class A Common Stock ("Class A Shares"), at any time at the option of the holder. 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).

F2 · derivative.expiration_date: (Continued from Footnote (1).) The issuer'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 issuer's outstanding Class B Shares represents less than 10% of the sum of its outstanding Class A and Class B Shares.

F5 · balance_after: Reflects the effects of the following transactions on the number of Class B Shares held by the Bliss Family Trust: (i) decreases of 15,600 Class B Shares and 2,200 Class B Shares contributed by the Bliss Family Trust to Grantor Trust 1 and Grantor Trust 2, respectively, as described in footnotes (3) and (4) above; and (ii) an increase of 26,769 Class B Shares as a result of a contribution, without consideration, by the Reporting Person to the Bliss Family Trust of 26,769 Class B Shares that had been owned directly by him. These contributions did not change the number of Class B Shares that are deemed to be beneficially owned by the Reporting Person.

SEC source: 0000899243-21-006610 · doc5.xml · derivative · entry 2

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

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnote

Disclosed balance after: 2,200

Underlying: Class A Common Stock · 2,200 shares

Expires not disclosed

F1 · derivative.exercise_price: The shares of issuer's Class B Common Stock ("Class B Shares") are convertible, on a one share-for-one share basis, into shares of issuer's Class A Common Stock ("Class A Shares"), at any time at the option of the holder. 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).

F2 · derivative.exercise_price: (Continued from Footnote (1).) The issuer'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 issuer's outstanding Class B Shares represents less than 10% of the sum of its outstanding Class A and Class B Shares.

F4 · shares: These 2,200 Class B Shares were contributed, without consideration, by the Bliss Family Trust to a grantor trust established for another of the Reporting Person's adult children ("Grantor Trust 2"). The Reporting Person is the trustee of Grantor Trust 2 and may be deemed to possess sole voting and dispositive power over the Class B Shares owned by this Trust. However, the Reporting Person is not a beneficiary of Grantor Trust 2 and does not have, and he disclaims, any pecuniary interest in these Class B Shares.

F1 · derivative.exercise_date: The shares of issuer's Class B Common Stock ("Class B Shares") are convertible, on a one share-for-one share basis, into shares of issuer's Class A Common Stock ("Class A Shares"), at any time at the option of the holder. 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).

F2 · derivative.exercise_date: (Continued from Footnote (1).) The issuer'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 issuer's outstanding Class B Shares represents less than 10% of the sum of its outstanding Class A and Class B Shares.

F1 · derivative.expiration_date: The shares of issuer's Class B Common Stock ("Class B Shares") are convertible, on a one share-for-one share basis, into shares of issuer's Class A Common Stock ("Class A Shares"), at any time at the option of the holder. 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).

F2 · derivative.expiration_date: (Continued from Footnote (1).) The issuer'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 issuer's outstanding Class B Shares represents less than 10% of the sum of its outstanding Class A and Class B Shares.

F4 · ownership.nature: These 2,200 Class B Shares were contributed, without consideration, by the Bliss Family Trust to a grantor trust established for another of the Reporting Person's adult children ("Grantor Trust 2"). The Reporting Person is the trustee of Grantor Trust 2 and may be deemed to possess sole voting and dispositive power over the Class B Shares owned by this Trust. However, the Reporting Person is not a beneficiary of Grantor Trust 2 and does not have, and he disclaims, any pecuniary interest in these Class B Shares.

SEC source: 0000899243-21-006610 · doc5.xml · derivative · entry 1

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

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnote

Disclosed balance after: 37,600

Underlying: Class A Common Stock · 15,600 shares

Expires not disclosed

F1 · derivative.exercise_price: The shares of issuer's Class B Common Stock ("Class B Shares") are convertible, on a one share-for-one share basis, into shares of issuer's Class A Common Stock ("Class A Shares"), at any time at the option of the holder. 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).

F2 · derivative.exercise_price: (Continued from Footnote (1).) The issuer'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 issuer's outstanding Class B Shares represents less than 10% of the sum of its outstanding Class A and Class B Shares.

F3 · shares: These 15,600 Class B Shares were contributed, without consideration, by the Reporting Person's family trust (the "Bliss Family Trust" or the "Family Trust") to a grantor trust established for one of the Reporting Person's adult children ("Grantor Trust 1"). The Reporting Person is the trustee of Grantor Trust 1 and, therefore, may be deemed to possess sole voting and dispositive power over the Class B Shares owned by Grantor Trust 1. However, the Reporting Person is not a beneficiary of Grantor Trust 1 and does not have, and he disclaims, any pecuniary interest in the 37,600 Class B Shares held by Grantor Trust 1.

F1 · derivative.exercise_date: The shares of issuer's Class B Common Stock ("Class B Shares") are convertible, on a one share-for-one share basis, into shares of issuer's Class A Common Stock ("Class A Shares"), at any time at the option of the holder. 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).

F2 · derivative.exercise_date: (Continued from Footnote (1).) The issuer'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 issuer's outstanding Class B Shares represents less than 10% of the sum of its outstanding Class A and Class B Shares.

F1 · derivative.expiration_date: The shares of issuer's Class B Common Stock ("Class B Shares") are convertible, on a one share-for-one share basis, into shares of issuer's Class A Common Stock ("Class A Shares"), at any time at the option of the holder. 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).

F2 · derivative.expiration_date: (Continued from Footnote (1).) The issuer'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 issuer's outstanding Class B Shares represents less than 10% of the sum of its outstanding Class A and Class B Shares.

F3 · balance_after: These 15,600 Class B Shares were contributed, without consideration, by the Reporting Person's family trust (the "Bliss Family Trust" or the "Family Trust") to a grantor trust established for one of the Reporting Person's adult children ("Grantor Trust 1"). The Reporting Person is the trustee of Grantor Trust 1 and, therefore, may be deemed to possess sole voting and dispositive power over the Class B Shares owned by Grantor Trust 1. However, the Reporting Person is not a beneficiary of Grantor Trust 1 and does not have, and he disclaims, any pecuniary interest in the 37,600 Class B Shares held by Grantor Trust 1.

F3 · ownership.nature: These 15,600 Class B Shares were contributed, without consideration, by the Reporting Person's family trust (the "Bliss Family Trust" or the "Family Trust") to a grantor trust established for one of the Reporting Person's adult children ("Grantor Trust 1"). The Reporting Person is the trustee of Grantor Trust 1 and, therefore, may be deemed to possess sole voting and dispositive power over the Class B Shares owned by Grantor Trust 1. However, the Reporting Person is not a beneficiary of Grantor Trust 1 and does not have, and he disclaims, any pecuniary interest in the 37,600 Class B Shares held by Grantor Trust 1.

SEC source: 0000899243-20-034402 · doc4.xml · derivative · entry 28

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

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnote

Disclosed balance after: 7,725

Underlying: Class A Common Stock · 6,000 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 · kind: These shares of Appfolio Class A Common Stock ("Class A Shares") were acquired by an irrevocable trust established for one of the Reporting Person's grandchildren by conversion of a like number of shares of Appfolio Class B Common Stock ("Class B Shares") owned by the trust. The Reporting Person is the trustee of this trust and, therefore, may be deemed to possess sole voting and dispositive power over the Class A Shares owned by the trust. However, the Reporting Person disclaims any pecuniary interest in these Class A Shares.

F1 · price: These shares of Appfolio Class A Common Stock ("Class A Shares") were acquired by an irrevocable trust established for one of the Reporting Person's grandchildren by conversion of a like number of shares of Appfolio Class B Common Stock ("Class B Shares") owned by the trust. The Reporting Person is the trustee of this trust and, therefore, may be deemed to possess sole voting and dispositive power over the Class A Shares owned by the trust. However, the Reporting Person disclaims any pecuniary interest in these Class A Shares.

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.

F9 · balance_after: 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.

F9 · ownership.nature: 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.

SEC source: 0000899243-20-034402 · doc4.xml · derivative · entry 27

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

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnote

Disclosed balance after: 9,119

Underlying: Class A Common Stock · 6,000 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 · kind: These shares of Appfolio Class A Common Stock ("Class A Shares") were acquired by an irrevocable trust established for one of the Reporting Person's grandchildren by conversion of a like number of shares of Appfolio Class B Common Stock ("Class B Shares") owned by the trust. The Reporting Person is the trustee of this trust and, therefore, may be deemed to possess sole voting and dispositive power over the Class A Shares owned by the trust. However, the Reporting Person disclaims any pecuniary interest in these Class A Shares.

F1 · price: These shares of Appfolio Class A Common Stock ("Class A Shares") were acquired by an irrevocable trust established for one of the Reporting Person's grandchildren by conversion of a like number of shares of Appfolio Class B Common Stock ("Class B Shares") owned by the trust. The Reporting Person is the trustee of this trust and, therefore, may be deemed to possess sole voting and dispositive power over the Class A Shares owned by the trust. However, the Reporting Person disclaims any pecuniary interest in these Class A Shares.

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.

F9 · balance_after: 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.

F9 · ownership.nature: 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.

SEC source: 0000899243-20-034402 · doc4.xml · derivative · entry 26

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

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnote

Disclosed balance after: 9,119

Underlying: Class A Common Stock · 6,000 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 · kind: These shares of Appfolio Class A Common Stock ("Class A Shares") were acquired by an irrevocable trust established for one of the Reporting Person's grandchildren by conversion of a like number of shares of Appfolio Class B Common Stock ("Class B Shares") owned by the trust. The Reporting Person is the trustee of this trust and, therefore, may be deemed to possess sole voting and dispositive power over the Class A Shares owned by the trust. However, the Reporting Person disclaims any pecuniary interest in these Class A Shares.

F1 · price: These shares of Appfolio Class A Common Stock ("Class A Shares") were acquired by an irrevocable trust established for one of the Reporting Person's grandchildren by conversion of a like number of shares of Appfolio Class B Common Stock ("Class B Shares") owned by the trust. The Reporting Person is the trustee of this trust and, therefore, may be deemed to possess sole voting and dispositive power over the Class A Shares owned by the trust. However, the Reporting Person disclaims any pecuniary interest in these Class A Shares.

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.

F9 · balance_after: 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.

F9 · ownership.nature: 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.

SEC source: 0000899243-20-034402 · doc4.xml · derivative · entry 25

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

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnote

Disclosed balance after: 9,119

Underlying: Class A Common Stock · 6,000 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 · kind: These shares of Appfolio Class A Common Stock ("Class A Shares") were acquired by an irrevocable trust established for one of the Reporting Person's grandchildren by conversion of a like number of shares of Appfolio Class B Common Stock ("Class B Shares") owned by the trust. The Reporting Person is the trustee of this trust and, therefore, may be deemed to possess sole voting and dispositive power over the Class A Shares owned by the trust. However, the Reporting Person disclaims any pecuniary interest in these Class A Shares.

F1 · price: These shares of Appfolio Class A Common Stock ("Class A Shares") were acquired by an irrevocable trust established for one of the Reporting Person's grandchildren by conversion of a like number of shares of Appfolio Class B Common Stock ("Class B Shares") owned by the trust. The Reporting Person is the trustee of this trust and, therefore, may be deemed to possess sole voting and dispositive power over the Class A Shares owned by the trust. However, the Reporting Person disclaims any pecuniary interest in these Class A Shares.

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.

F9 · balance_after: 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.

F9 · ownership.nature: 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.

SEC source: 0000899243-20-034402 · doc4.xml · derivative · entry 24

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

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnote

Disclosed balance after: 9,119

Underlying: Class A Common Stock · 6,000 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 · kind: These shares of Appfolio Class A Common Stock ("Class A Shares") were acquired by an irrevocable trust established for one of the Reporting Person's grandchildren by conversion of a like number of shares of Appfolio Class B Common Stock ("Class B Shares") owned by the trust. The Reporting Person is the trustee of this trust and, therefore, may be deemed to possess sole voting and dispositive power over the Class A Shares owned by the trust. However, the Reporting Person disclaims any pecuniary interest in these Class A Shares.

F1 · price: These shares of Appfolio Class A Common Stock ("Class A Shares") were acquired by an irrevocable trust established for one of the Reporting Person's grandchildren by conversion of a like number of shares of Appfolio Class B Common Stock ("Class B Shares") owned by the trust. The Reporting Person is the trustee of this trust and, therefore, may be deemed to possess sole voting and dispositive power over the Class A Shares owned by the trust. However, the Reporting Person disclaims any pecuniary interest in these Class A Shares.

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.

F9 · balance_after: 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.

F9 · ownership.nature: 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.

SEC source: 0000899243-20-034402 · doc4.xml · derivative · entry 23

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

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnote

Disclosed balance after: 9,119

Underlying: Class A Common Stock · 6,000 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 · kind: These shares of Appfolio Class A Common Stock ("Class A Shares") were acquired by an irrevocable trust established for one of the Reporting Person's grandchildren by conversion of a like number of shares of Appfolio Class B Common Stock ("Class B Shares") owned by the trust. The Reporting Person is the trustee of this trust and, therefore, may be deemed to possess sole voting and dispositive power over the Class A Shares owned by the trust. However, the Reporting Person disclaims any pecuniary interest in these Class A Shares.

F1 · price: These shares of Appfolio Class A Common Stock ("Class A Shares") were acquired by an irrevocable trust established for one of the Reporting Person's grandchildren by conversion of a like number of shares of Appfolio Class B Common Stock ("Class B Shares") owned by the trust. The Reporting Person is the trustee of this trust and, therefore, may be deemed to possess sole voting and dispositive power over the Class A Shares owned by the trust. However, the Reporting Person disclaims any pecuniary interest in these Class A Shares.

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.

F9 · balance_after: 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.

F9 · ownership.nature: 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.

SEC source: 0000899243-20-034402 · doc4.xml · derivative · entry 22

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

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnote

Disclosed balance after: 9,119

Underlying: Class A Common Stock · 6,000 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 · kind: These shares of Appfolio Class A Common Stock ("Class A Shares") were acquired by an irrevocable trust established for one of the Reporting Person's grandchildren by conversion of a like number of shares of Appfolio Class B Common Stock ("Class B Shares") owned by the trust. The Reporting Person is the trustee of this trust and, therefore, may be deemed to possess sole voting and dispositive power over the Class A Shares owned by the trust. However, the Reporting Person disclaims any pecuniary interest in these Class A Shares.

F1 · price: These shares of Appfolio Class A Common Stock ("Class A Shares") were acquired by an irrevocable trust established for one of the Reporting Person's grandchildren by conversion of a like number of shares of Appfolio Class B Common Stock ("Class B Shares") owned by the trust. The Reporting Person is the trustee of this trust and, therefore, may be deemed to possess sole voting and dispositive power over the Class A Shares owned by the trust. However, the Reporting Person disclaims any pecuniary interest in these Class A Shares.

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.

F9 · balance_after: 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.

F9 · ownership.nature: 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.

SEC source: 0000899243-20-034402 · doc4.xml · derivative · entry 21

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

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnote

Disclosed balance after: 9,129

Underlying: Class A Common Stock · 6,000 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 · kind: These shares of Appfolio Class A Common Stock ("Class A Shares") were acquired by an irrevocable trust established for one of the Reporting Person's grandchildren by conversion of a like number of shares of Appfolio Class B Common Stock ("Class B Shares") owned by the trust. The Reporting Person is the trustee of this trust and, therefore, may be deemed to possess sole voting and dispositive power over the Class A Shares owned by the trust. However, the Reporting Person disclaims any pecuniary interest in these Class A Shares.

F1 · price: These shares of Appfolio Class A Common Stock ("Class A Shares") were acquired by an irrevocable trust established for one of the Reporting Person's grandchildren by conversion of a like number of shares of Appfolio Class B Common Stock ("Class B Shares") owned by the trust. The Reporting Person is the trustee of this trust and, therefore, may be deemed to possess sole voting and dispositive power over the Class A Shares owned by the trust. However, the Reporting Person disclaims any pecuniary interest in these Class A Shares.

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.

F9 · balance_after: 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.

F9 · ownership.nature: 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.

SEC source: 0000899243-20-034402 · doc4.xml · derivative · entry 20

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

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnote

Disclosed balance after: 9,129

Underlying: Class A Common Stock · 6,000 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 · kind: These shares of Appfolio Class A Common Stock ("Class A Shares") were acquired by an irrevocable trust established for one of the Reporting Person's grandchildren by conversion of a like number of shares of Appfolio Class B Common Stock ("Class B Shares") owned by the trust. The Reporting Person is the trustee of this trust and, therefore, may be deemed to possess sole voting and dispositive power over the Class A Shares owned by the trust. However, the Reporting Person disclaims any pecuniary interest in these Class A Shares.

F1 · price: These shares of Appfolio Class A Common Stock ("Class A Shares") were acquired by an irrevocable trust established for one of the Reporting Person's grandchildren by conversion of a like number of shares of Appfolio Class B Common Stock ("Class B Shares") owned by the trust. The Reporting Person is the trustee of this trust and, therefore, may be deemed to possess sole voting and dispositive power over the Class A Shares owned by the trust. However, the Reporting Person disclaims any pecuniary interest in these Class A Shares.

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.

F8 · balance_after: 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.

F8 · ownership.nature: 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.

SEC source: 0000899243-20-034402 · doc4.xml · nonDerivative · entry 18

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

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnote

Disclosed balance after: 4,000

F4 · kind: Sales made pursuant to a 10(b)5-1 Plan previously adopted by the Reporting Person.

F9 · ownership.nature: 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.

SEC source: 0000899243-20-034402 · doc4.xml · nonDerivative · entry 17

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

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnote

Disclosed balance after: 6,000

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: These shares of Appfolio Class A Common Stock ("Class A Shares") were acquired by an irrevocable trust established for one of the Reporting Person's grandchildren by conversion of a like number of shares of Appfolio Class B Common Stock ("Class B Shares") owned by the trust. The Reporting Person is the trustee of this trust and, therefore, may be deemed to possess sole voting and dispositive power over the Class A Shares owned by the trust. However, the Reporting Person disclaims any pecuniary interest in these Class A Shares.

F1 · shares: These shares of Appfolio Class A Common Stock ("Class A Shares") were acquired by an irrevocable trust established for one of the Reporting Person's grandchildren by conversion of a like number of shares of Appfolio Class B Common Stock ("Class B Shares") owned by the trust. The Reporting Person is the trustee of this trust and, therefore, may be deemed to possess sole voting and dispositive power over the Class A Shares owned by the trust. However, the Reporting Person disclaims any pecuniary interest in these Class A Shares.

F1 · price: These shares of Appfolio Class A Common Stock ("Class A Shares") were acquired by an irrevocable trust established for one of the Reporting Person's grandchildren by conversion of a like number of shares of Appfolio Class B Common Stock ("Class B Shares") owned by the trust. The Reporting Person is the trustee of this trust and, therefore, may be deemed to possess sole voting and dispositive power over the Class A Shares owned by the trust. However, the Reporting Person disclaims any pecuniary interest in these Class A Shares.

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.

F9 · ownership.nature: 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.

SEC source: 0000899243-20-034402 · doc4.xml · nonDerivative · entry 16

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

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnote

Disclosed balance after: 4,000

F4 · kind: Sales made pursuant to a 10(b)5-1 Plan previously adopted by the Reporting Person.

F9 · ownership.nature: 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.

SEC source: 0000899243-20-034402 · doc4.xml · nonDerivative · entry 15

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

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnote

Disclosed balance after: 6,000

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: These shares of Appfolio Class A Common Stock ("Class A Shares") were acquired by an irrevocable trust established for one of the Reporting Person's grandchildren by conversion of a like number of shares of Appfolio Class B Common Stock ("Class B Shares") owned by the trust. The Reporting Person is the trustee of this trust and, therefore, may be deemed to possess sole voting and dispositive power over the Class A Shares owned by the trust. However, the Reporting Person disclaims any pecuniary interest in these Class A Shares.

F1 · shares: These shares of Appfolio Class A Common Stock ("Class A Shares") were acquired by an irrevocable trust established for one of the Reporting Person's grandchildren by conversion of a like number of shares of Appfolio Class B Common Stock ("Class B Shares") owned by the trust. The Reporting Person is the trustee of this trust and, therefore, may be deemed to possess sole voting and dispositive power over the Class A Shares owned by the trust. However, the Reporting Person disclaims any pecuniary interest in these Class A Shares.

F1 · price: These shares of Appfolio Class A Common Stock ("Class A Shares") were acquired by an irrevocable trust established for one of the Reporting Person's grandchildren by conversion of a like number of shares of Appfolio Class B Common Stock ("Class B Shares") owned by the trust. The Reporting Person is the trustee of this trust and, therefore, may be deemed to possess sole voting and dispositive power over the Class A Shares owned by the trust. However, the Reporting Person disclaims any pecuniary interest in these Class A Shares.

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.

F9 · ownership.nature: 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.

SEC source: 0000899243-20-034402 · doc4.xml · nonDerivative · entry 14

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

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnote

Disclosed balance after: 4,000

F4 · kind: Sales made pursuant to a 10(b)5-1 Plan previously adopted by the Reporting Person.

F9 · ownership.nature: 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.

SEC source: 0000899243-20-034402 · 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: 6,000

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: These shares of Appfolio Class A Common Stock ("Class A Shares") were acquired by an irrevocable trust established for one of the Reporting Person's grandchildren by conversion of a like number of shares of Appfolio Class B Common Stock ("Class B Shares") owned by the trust. The Reporting Person is the trustee of this trust and, therefore, may be deemed to possess sole voting and dispositive power over the Class A Shares owned by the trust. However, the Reporting Person disclaims any pecuniary interest in these Class A Shares.

F1 · shares: These shares of Appfolio Class A Common Stock ("Class A Shares") were acquired by an irrevocable trust established for one of the Reporting Person's grandchildren by conversion of a like number of shares of Appfolio Class B Common Stock ("Class B Shares") owned by the trust. The Reporting Person is the trustee of this trust and, therefore, may be deemed to possess sole voting and dispositive power over the Class A Shares owned by the trust. However, the Reporting Person disclaims any pecuniary interest in these Class A Shares.

F1 · price: These shares of Appfolio Class A Common Stock ("Class A Shares") were acquired by an irrevocable trust established for one of the Reporting Person's grandchildren by conversion of a like number of shares of Appfolio Class B Common Stock ("Class B Shares") owned by the trust. The Reporting Person is the trustee of this trust and, therefore, may be deemed to possess sole voting and dispositive power over the Class A Shares owned by the trust. However, the Reporting Person disclaims any pecuniary interest in these Class A Shares.

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.

F9 · ownership.nature: 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.

SEC source: 0000899243-20-034402 · 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: 4,000

F4 · kind: Sales made pursuant to a 10(b)5-1 Plan previously adopted by the Reporting Person.

F9 · ownership.nature: 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.

SEC source: 0000899243-20-034402 · 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: 6,000

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: These shares of Appfolio Class A Common Stock ("Class A Shares") were acquired by an irrevocable trust established for one of the Reporting Person's grandchildren by conversion of a like number of shares of Appfolio Class B Common Stock ("Class B Shares") owned by the trust. The Reporting Person is the trustee of this trust and, therefore, may be deemed to possess sole voting and dispositive power over the Class A Shares owned by the trust. However, the Reporting Person disclaims any pecuniary interest in these Class A Shares.

F1 · shares: These shares of Appfolio Class A Common Stock ("Class A Shares") were acquired by an irrevocable trust established for one of the Reporting Person's grandchildren by conversion of a like number of shares of Appfolio Class B Common Stock ("Class B Shares") owned by the trust. The Reporting Person is the trustee of this trust and, therefore, may be deemed to possess sole voting and dispositive power over the Class A Shares owned by the trust. However, the Reporting Person disclaims any pecuniary interest in these Class A Shares.

F1 · price: These shares of Appfolio Class A Common Stock ("Class A Shares") were acquired by an irrevocable trust established for one of the Reporting Person's grandchildren by conversion of a like number of shares of Appfolio Class B Common Stock ("Class B Shares") owned by the trust. The Reporting Person is the trustee of this trust and, therefore, may be deemed to possess sole voting and dispositive power over the Class A Shares owned by the trust. However, the Reporting Person disclaims any pecuniary interest in these Class A Shares.

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.

F9 · ownership.nature: 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.

SEC source: 0000899243-20-034402 · 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: 4,000

F4 · kind: Sales made pursuant to a 10(b)5-1 Plan previously adopted by the Reporting Person.

F9 · ownership.nature: 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.

SEC source: 0000899243-20-034402 · 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: 6,000

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: These shares of Appfolio Class A Common Stock ("Class A Shares") were acquired by an irrevocable trust established for one of the Reporting Person's grandchildren by conversion of a like number of shares of Appfolio Class B Common Stock ("Class B Shares") owned by the trust. The Reporting Person is the trustee of this trust and, therefore, may be deemed to possess sole voting and dispositive power over the Class A Shares owned by the trust. However, the Reporting Person disclaims any pecuniary interest in these Class A Shares.

F1 · shares: These shares of Appfolio Class A Common Stock ("Class A Shares") were acquired by an irrevocable trust established for one of the Reporting Person's grandchildren by conversion of a like number of shares of Appfolio Class B Common Stock ("Class B Shares") owned by the trust. The Reporting Person is the trustee of this trust and, therefore, may be deemed to possess sole voting and dispositive power over the Class A Shares owned by the trust. However, the Reporting Person disclaims any pecuniary interest in these Class A Shares.

F1 · price: These shares of Appfolio Class A Common Stock ("Class A Shares") were acquired by an irrevocable trust established for one of the Reporting Person's grandchildren by conversion of a like number of shares of Appfolio Class B Common Stock ("Class B Shares") owned by the trust. The Reporting Person is the trustee of this trust and, therefore, may be deemed to possess sole voting and dispositive power over the Class A Shares owned by the trust. However, the Reporting Person disclaims any pecuniary interest in these Class A Shares.

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.

F9 · ownership.nature: 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.

SEC source: 0000899243-20-034402 · 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: 4,000

F4 · kind: Sales made pursuant to a 10(b)5-1 Plan previously adopted by the Reporting Person.

F9 · ownership.nature: 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.

SEC source: 0000899243-20-034402 · 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: 6,000

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: These shares of Appfolio Class A Common Stock ("Class A Shares") were acquired by an irrevocable trust established for one of the Reporting Person's grandchildren by conversion of a like number of shares of Appfolio Class B Common Stock ("Class B Shares") owned by the trust. The Reporting Person is the trustee of this trust and, therefore, may be deemed to possess sole voting and dispositive power over the Class A Shares owned by the trust. However, the Reporting Person disclaims any pecuniary interest in these Class A Shares.

F1 · shares: These shares of Appfolio Class A Common Stock ("Class A Shares") were acquired by an irrevocable trust established for one of the Reporting Person's grandchildren by conversion of a like number of shares of Appfolio Class B Common Stock ("Class B Shares") owned by the trust. The Reporting Person is the trustee of this trust and, therefore, may be deemed to possess sole voting and dispositive power over the Class A Shares owned by the trust. However, the Reporting Person disclaims any pecuniary interest in these Class A Shares.

F1 · price: These shares of Appfolio Class A Common Stock ("Class A Shares") were acquired by an irrevocable trust established for one of the Reporting Person's grandchildren by conversion of a like number of shares of Appfolio Class B Common Stock ("Class B Shares") owned by the trust. The Reporting Person is the trustee of this trust and, therefore, may be deemed to possess sole voting and dispositive power over the Class A Shares owned by the trust. However, the Reporting Person disclaims any pecuniary interest in these Class A Shares.

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.

F9 · ownership.nature: 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.

SEC source: 0000899243-20-034402 · 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: 4,000

F4 · kind: Sales made pursuant to a 10(b)5-1 Plan previously adopted by the Reporting Person.

F9 · ownership.nature: 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.

SEC source: 0000899243-20-034402 · 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: 6,000

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: These shares of Appfolio Class A Common Stock ("Class A Shares") were acquired by an irrevocable trust established for one of the Reporting Person's grandchildren by conversion of a like number of shares of Appfolio Class B Common Stock ("Class B Shares") owned by the trust. The Reporting Person is the trustee of this trust and, therefore, may be deemed to possess sole voting and dispositive power over the Class A Shares owned by the trust. However, the Reporting Person disclaims any pecuniary interest in these Class A Shares.

F1 · shares: These shares of Appfolio Class A Common Stock ("Class A Shares") were acquired by an irrevocable trust established for one of the Reporting Person's grandchildren by conversion of a like number of shares of Appfolio Class B Common Stock ("Class B Shares") owned by the trust. The Reporting Person is the trustee of this trust and, therefore, may be deemed to possess sole voting and dispositive power over the Class A Shares owned by the trust. However, the Reporting Person disclaims any pecuniary interest in these Class A Shares.

F1 · price: These shares of Appfolio Class A Common Stock ("Class A Shares") were acquired by an irrevocable trust established for one of the Reporting Person's grandchildren by conversion of a like number of shares of Appfolio Class B Common Stock ("Class B Shares") owned by the trust. The Reporting Person is the trustee of this trust and, therefore, may be deemed to possess sole voting and dispositive power over the Class A Shares owned by the trust. However, the Reporting Person disclaims any pecuniary interest in these Class A Shares.

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.

F9 · ownership.nature: 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.