DUCA MAURICE J

SEC source: 0000899243-21-046864 · doc4.xml · derivative · entry 4

DUCA MAURICE J · CIK 0000938333 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By Pension Trust

Disclosed balance after: 2,536,153

Underlying: Class A Common Stock · 1,374,976 shares

Expires not disclosed

F6 · kind: The Reporting Person is the trustee of a pension plan and, in that capacity, possesses sole voting and dispositive power over the Class B Shares owned by the pension plan. These 1,374,976 Class B Shares are the pro rata share of the Class B Shares distributed to the pension plan upon the dissolution and termination of (i) the three investment funds of IVP III (referenced in footnote 1 above) and (ii) the four investment funds of IVF III (referenced in footnote 4). No consideration was paid by the pension plan or the Reporting Person for any of these Class B Shares.

F6 · shares: The Reporting Person is the trustee of a pension plan and, in that capacity, possesses sole voting and dispositive power over the Class B Shares owned by the pension plan. These 1,374,976 Class B Shares are the pro rata share of the Class B Shares distributed to the pension plan upon the dissolution and termination of (i) the three investment funds of IVP III (referenced in footnote 1 above) and (ii) the four investment funds of IVF III (referenced in footnote 4). No consideration was paid by the pension plan or the Reporting Person for any of these Class B Shares.

F2 · derivative.exercise_date: Each Class B Share is convertible, at any time at the option of the holder, into one share of Appfolio Class A Common Stock ("Class A Shares"). In addition, Class B Shares that are sold or otherwise transferred will convert automatically, on a one share-for-one share basis, into Class A Shares, except for (i) any transfer by a partnership or limited liability company that was a registered holder of Class B Shares prior to June 30, 2015 that is made to anyone who was a partner or member of any such partnership or limited liability company prior to June 30, 2015, and (ii) any transfer to a "qualified recipient" (as defined in AppFolio's Amended and Restated Certificate of Incorporation).

F3 · derivative.exercise_date: (Continued from Footnote 2) AppFolio's Class B Shares do not have an expiration date. However, all of the outstanding Class B Shares will convert automatically into Class A Shares, on a one share-for-one share basis, on the date when the number of the Company's outstanding Class B Shares represents less than 10% of the sum of AppFolio's outstanding Class A and Class B Shares.

F2 · derivative.expiration_date: Each Class B Share is convertible, at any time at the option of the holder, into one share of Appfolio Class A Common Stock ("Class A Shares"). In addition, Class B Shares that are sold or otherwise transferred will convert automatically, on a one share-for-one share basis, into Class A Shares, except for (i) any transfer by a partnership or limited liability company that was a registered holder of Class B Shares prior to June 30, 2015 that is made to anyone who was a partner or member of any such partnership or limited liability company prior to June 30, 2015, and (ii) any transfer to a "qualified recipient" (as defined in AppFolio's Amended and Restated Certificate of Incorporation).

F3 · derivative.expiration_date: (Continued from Footnote 2) AppFolio's Class B Shares do not have an expiration date. However, all of the outstanding Class B Shares will convert automatically into Class A Shares, on a one share-for-one share basis, on the date when the number of the Company's outstanding Class B Shares represents less than 10% of the sum of AppFolio's outstanding Class A and Class B Shares.

F7 · ownership.direct: Although the Reporting Person possesses sole voting and dispositive power over the Class B Shares owned by the pension plan, he does not have and he disclaims any pecuniary interest in these Class B Shares.

SEC source: 0000899243-21-046864 · doc4.xml · derivative · entry 3

DUCA MAURICE J · CIK 0000938333 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 3,740,274

Underlying: Class A Common Stock · 1,817,811 shares

Expires not disclosed

F5 · kind: These 1,817,811 Class B Shares are the Reporting Person's pro rata share of the Class B Shares distributed upon the dissolution and termination of (i) the three investment funds of IVP III (referenced in footnote 1 above) and (ii) the four investment funds of IVF III (referenced in footnote 4 above). No consideration was paid by the Reporting Person's for any of these Class B Shares distributed to him.

F5 · shares: These 1,817,811 Class B Shares are the Reporting Person's pro rata share of the Class B Shares distributed upon the dissolution and termination of (i) the three investment funds of IVP III (referenced in footnote 1 above) and (ii) the four investment funds of IVF III (referenced in footnote 4 above). No consideration was paid by the Reporting Person's for any of these Class B Shares distributed to him.

F2 · derivative.exercise_date: Each Class B Share is convertible, at any time at the option of the holder, into one share of Appfolio Class A Common Stock ("Class A Shares"). In addition, Class B Shares that are sold or otherwise transferred will convert automatically, on a one share-for-one share basis, into Class A Shares, except for (i) any transfer by a partnership or limited liability company that was a registered holder of Class B Shares prior to June 30, 2015 that is made to anyone who was a partner or member of any such partnership or limited liability company prior to June 30, 2015, and (ii) any transfer to a "qualified recipient" (as defined in AppFolio's Amended and Restated Certificate of Incorporation).

F3 · derivative.exercise_date: (Continued from Footnote 2) AppFolio's Class B Shares do not have an expiration date. However, all of the outstanding Class B Shares will convert automatically into Class A Shares, on a one share-for-one share basis, on the date when the number of the Company's outstanding Class B Shares represents less than 10% of the sum of AppFolio's outstanding Class A and Class B Shares.

F2 · derivative.expiration_date: Each Class B Share is convertible, at any time at the option of the holder, into one share of Appfolio Class A Common Stock ("Class A Shares"). In addition, Class B Shares that are sold or otherwise transferred will convert automatically, on a one share-for-one share basis, into Class A Shares, except for (i) any transfer by a partnership or limited liability company that was a registered holder of Class B Shares prior to June 30, 2015 that is made to anyone who was a partner or member of any such partnership or limited liability company prior to June 30, 2015, and (ii) any transfer to a "qualified recipient" (as defined in AppFolio's Amended and Restated Certificate of Incorporation).

F3 · derivative.expiration_date: (Continued from Footnote 2) AppFolio's Class B Shares do not have an expiration date. However, all of the outstanding Class B Shares will convert automatically into Class A Shares, on a one share-for-one share basis, on the date when the number of the Company's outstanding Class B Shares represents less than 10% of the sum of AppFolio's outstanding Class A and Class B Shares.

SEC source: 0000899243-21-046864 · doc4.xml · derivative · entry 2

DUCA MAURICE J · CIK 0000938333 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By IGSB Internal Venture Fund III

Disclosed balance after: 0

Underlying: Class A Common Stock · 993,627 shares

Expires not disclosed

F4 · kind: On December 1, 2021, four investment funds of IGSB Internal Venture Fund III, LLC ("IVF III") were dissolved, resulting in the termination of each of those investment funds and the distribution of an aggregate of 993,627 Class B Shares pro-rata to the investors in those investment funds. No consideration was paid by any of those investors for the Class B Shares distributed to them.

F4 · shares: On December 1, 2021, four investment funds of IGSB Internal Venture Fund III, LLC ("IVF III") were dissolved, resulting in the termination of each of those investment funds and the distribution of an aggregate of 993,627 Class B Shares pro-rata to the investors in those investment funds. No consideration was paid by any of those investors for the Class B Shares distributed to them.

F2 · derivative.exercise_date: Each Class B Share is convertible, at any time at the option of the holder, into one share of Appfolio Class A Common Stock ("Class A Shares"). In addition, Class B Shares that are sold or otherwise transferred will convert automatically, on a one share-for-one share basis, into Class A Shares, except for (i) any transfer by a partnership or limited liability company that was a registered holder of Class B Shares prior to June 30, 2015 that is made to anyone who was a partner or member of any such partnership or limited liability company prior to June 30, 2015, and (ii) any transfer to a "qualified recipient" (as defined in AppFolio's Amended and Restated Certificate of Incorporation).

F3 · derivative.exercise_date: (Continued from Footnote 2) AppFolio's Class B Shares do not have an expiration date. However, all of the outstanding Class B Shares will convert automatically into Class A Shares, on a one share-for-one share basis, on the date when the number of the Company's outstanding Class B Shares represents less than 10% of the sum of AppFolio's outstanding Class A and Class B Shares.

F2 · derivative.expiration_date: Each Class B Share is convertible, at any time at the option of the holder, into one share of Appfolio Class A Common Stock ("Class A Shares"). In addition, Class B Shares that are sold or otherwise transferred will convert automatically, on a one share-for-one share basis, into Class A Shares, except for (i) any transfer by a partnership or limited liability company that was a registered holder of Class B Shares prior to June 30, 2015 that is made to anyone who was a partner or member of any such partnership or limited liability company prior to June 30, 2015, and (ii) any transfer to a "qualified recipient" (as defined in AppFolio's Amended and Restated Certificate of Incorporation).

F3 · derivative.expiration_date: (Continued from Footnote 2) AppFolio's Class B Shares do not have an expiration date. However, all of the outstanding Class B Shares will convert automatically into Class A Shares, on a one share-for-one share basis, on the date when the number of the Company's outstanding Class B Shares represents less than 10% of the sum of AppFolio's outstanding Class A and Class B Shares.

SEC source: 0000899243-21-046864 · doc4.xml · derivative · entry 1

DUCA MAURICE J · CIK 0000938333 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By IGSB IVP III

Disclosed balance after: 0

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

Expires not disclosed

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

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

F2 · derivative.exercise_date: Each Class B Share is convertible, at any time at the option of the holder, into one share of Appfolio Class A Common Stock ("Class A Shares"). In addition, Class B Shares that are sold or otherwise transferred will convert automatically, on a one share-for-one share basis, into Class A Shares, except for (i) any transfer by a partnership or limited liability company that was a registered holder of Class B Shares prior to June 30, 2015 that is made to anyone who was a partner or member of any such partnership or limited liability company prior to June 30, 2015, and (ii) any transfer to a "qualified recipient" (as defined in AppFolio's Amended and Restated Certificate of Incorporation).

F3 · derivative.exercise_date: (Continued from Footnote 2) AppFolio's Class B Shares do not have an expiration date. However, all of the outstanding Class B Shares will convert automatically into Class A Shares, on a one share-for-one share basis, on the date when the number of the Company's outstanding Class B Shares represents less than 10% of the sum of AppFolio's outstanding Class A and Class B Shares.

F2 · derivative.expiration_date: Each Class B Share is convertible, at any time at the option of the holder, into one share of Appfolio Class A Common Stock ("Class A Shares"). In addition, Class B Shares that are sold or otherwise transferred will convert automatically, on a one share-for-one share basis, into Class A Shares, except for (i) any transfer by a partnership or limited liability company that was a registered holder of Class B Shares prior to June 30, 2015 that is made to anyone who was a partner or member of any such partnership or limited liability company prior to June 30, 2015, and (ii) any transfer to a "qualified recipient" (as defined in AppFolio's Amended and Restated Certificate of Incorporation).

F3 · derivative.expiration_date: (Continued from Footnote 2) AppFolio's Class B Shares do not have an expiration date. However, all of the outstanding Class B Shares will convert automatically into Class A Shares, on a one share-for-one share basis, on the date when the number of the Company's outstanding Class B Shares represents less than 10% of the sum of AppFolio's outstanding Class A and Class B Shares.

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

DUCA MAURICE J · CIK 0000938333 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 78,397

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

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

SEC source: 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: 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: 0000899243-21-006714 · doc5.xml · nonDerivative · entry 3

DUCA MAURICE J · CIK 0000938333 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By Pension Trust

Disclosed balance after: 194,037

F4 · shares: Gives effect to the distribution by Fund 12 to a pension trust, of which the Reporting Person is the sole trustee, of 166,528 Class A Shares pursuant to the dissolution of Fund 12 referenced in footnote (1) above. As sole trustee of the pension trust, the Reporting Person possesses sole voting and sole dispositive power over these Class A Shares; however, the Reporting Person does not have any pecuniary interest in these Class A Shares. Prior to this distribution, the Reporting Person was, and after the distribution he continues to be, as trustee of this pension trust, the indirect beneficial owner of these Class A Shares.

F4 · ownership.nature: Gives effect to the distribution by Fund 12 to a pension trust, of which the Reporting Person is the sole trustee, of 166,528 Class A Shares pursuant to the dissolution of Fund 12 referenced in footnote (1) above. As sole trustee of the pension trust, the Reporting Person possesses sole voting and sole dispositive power over these Class A Shares; however, the Reporting Person does not have any pecuniary interest in these Class A Shares. Prior to this distribution, the Reporting Person was, and after the distribution he continues to be, as trustee of this pension trust, the indirect beneficial owner of these Class A Shares.

SEC source: 0000899243-21-006714 · doc5.xml · nonDerivative · entry 2

DUCA MAURICE J · CIK 0000938333 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 95,597

F2 · shares: The Reporting Person received 95,597 Class A Shares as a result of and pursuant to the dissolution of Fund 12 and the pro-rata distribution by Fund 12 of all of its Class A Shares, as referenced in footnote (1) above. No consideration was paid by the Reporting Person for these 95,597 Class A Shares. The only effect of this distribution was to change the form of the Reporting Person's beneficial ownership of these Class A Shares from indirect to direct.

F3 · balance_after: Number of Class A Shares directly owned by the Reporting Person as of December 31, 2020, after giving effect to (i) the distribution to him, in his individual capacity, of 95,597 Class A Shares by Fund 12, as described in footnote (2) above, and (ii) a change in form of his beneficial ownership from direct to indirect as a result of his contribution of 9,805 Class A Shares, which the Reporting Person had owned directly prior to January 23, 2020, to a newly organized limited liability company, IGSB Cardinal Core BV, LLC, of which the Reporting Person is the organizing and managing member.

SEC source: 0000899243-21-006714 · doc5.xml · nonDerivative · entry 1

DUCA MAURICE J · CIK 0000938333 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By Duca Fund 12, LLC

Disclosed balance after: 0

F1 · shares: On September 11, 2020, Duca Fund 12, LLC ("Fund 12"), of which the Reporting Person was the sole manager, was dissolved and all 373,116 shares of issuer's Class A common stock ("Class A Shares") then held by Fund 12 were distributed, pro-rata and without consideration, to its members. See footnotes (2) and (4) below for information regarding certain of those distributions reported in this Form 5.

F1 · balance_after: On September 11, 2020, Duca Fund 12, LLC ("Fund 12"), of which the Reporting Person was the sole manager, was dissolved and all 373,116 shares of issuer's Class A common stock ("Class A Shares") then held by Fund 12 were distributed, pro-rata and without consideration, to its members. See footnotes (2) and (4) below for information regarding certain of those distributions reported in this Form 5.

SEC source: 0000899243-20-018577 · doc4.xml · derivative · entry 4

DUCA MAURICE J · CIK 0000938333 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By Family Trust

Disclosed balance after: 91,591

Underlying: Class A Common Stock · 51,627 shares

Expires not disclosed

F9 · kind: The Reporting Person's revocable family trust, of which he is a trustee, received 51,627 Class B Shares from the pro-rata distribution of 300,691 Class B Shares from one of the investment funds of IVP III to the investors in that fund (see footnote 1 above). No consideration was paid by the family trust or any of the other investors in that fund for the respective Class B Shares distributed to them. The distribution of the 51,627 Class B Shares to the family trust did not result in any change to the Reporting Person's beneficial ownership of his Class B Shares.

F9 · shares: The Reporting Person's revocable family trust, of which he is a trustee, received 51,627 Class B Shares from the pro-rata distribution of 300,691 Class B Shares from one of the investment funds of IVP III to the investors in that fund (see footnote 1 above). No consideration was paid by the family trust or any of the other investors in that fund for the respective Class B Shares distributed to them. The distribution of the 51,627 Class B Shares to the family trust did not result in any change to the Reporting Person's beneficial ownership of his 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: 0000899243-20-018577 · doc4.xml · derivative · entry 3

DUCA MAURICE J · CIK 0000938333 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By Pension Trust

Disclosed balance after: 1,161,177

Underlying: Class A Common Stock · 103,121 shares

Expires not disclosed

F7 · kind: These 103,121 Class B Shares were distributed by an investment fund of IVP III to its investors, including this pension trust (see footnote 1 above). The Reporting Person is the sole trustee of the pension trust and, in that capacity, possesses sole voting and sole dispositive power over these Class B Shares. However, the Reporting Person does not have any pecuniary interest in these Class B Shares. No consideration was paid by the pension trust or any of the other investors for the respective Class B Shares distributed to them from that investment fund.

F7 · shares: These 103,121 Class B Shares were distributed by an investment fund of IVP III to its investors, including this pension trust (see footnote 1 above). The Reporting Person is the sole trustee of the pension trust and, in that capacity, possesses sole voting and sole dispositive power over these Class B Shares. However, the Reporting Person does not have any pecuniary interest in these Class B Shares. No consideration was paid by the pension trust or any of the other investors for the respective Class B Shares distributed to them from that investment fund.

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 · ownership.direct: These Class B Shares are owned by a pension trust of which the Reporting Person is the sole trustee and, in that capacity, possesses sole voting and dispositive power over these Shares. However, the Reporting Person does not have and he disclaims any pecuniary interest in these Class B Shares.

SEC source: 0000899243-20-018577 · doc4.xml · derivative · entry 2

DUCA MAURICE J · CIK 0000938333 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,922,463

Underlying: Class A Common Stock · 65,882 shares

Expires not disclosed

F5 · kind: The Reporting Person received 65,882 Class B Shares from the pro-rata distribution of 300,691 Class B Shares from an investment fund of IVP III to its investors (see footnote 1 above). No consideration was paid by the Reporting Person or any of the other investors for the respective Class B Shares distributed to them from that investment fund. The only change resulting from the distribution of the 65,882 Class B Shares was to the form of the Reporting Person's beneficial ownership from indirect to direct.

F5 · shares: The Reporting Person received 65,882 Class B Shares from the pro-rata distribution of 300,691 Class B Shares from an investment fund of IVP III to its investors (see footnote 1 above). No consideration was paid by the Reporting Person or any of the other investors for the respective Class B Shares distributed to them from that investment fund. The only change resulting from the distribution of the 65,882 Class B Shares was to the form of the Reporting Person's beneficial ownership from indirect to direct.

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.

F6 · ownership.direct: On December 31, 2018, 58,474 Class B Shares, which were held in a pension plan over which the Reporting Person possessed sole voting and dispositive power, were rolled over, without consideration, from the pension plan to the Reporting Person's IRA, leaving no remaining Class B Shares in this pension plan, resulting in a change in the form of the Reporting Person's beneficial ownership of these Class B Shares, from indirect to direct. There was no change to the total number of Class B Shares that are beneficially owned by the Reporting Person.

F11 · ownership.direct: In January 2020, the Reporting Person transferred these Class B Shares, which had been directly owned by him, to this limited liability company, of which the Reporting Person is the managing member. In that capacity, the Reporting Person continues to possess sole voting and dispositive power over all of these Shares, but disclaims beneficial ownership over these Shares except to the extent of any pecuniary interest he may have therein.

F12 · ownership.direct: In January 2020, the Reporting Person transferred these Class B Shares, which had been directly owned by him, to this limited liability company, of which the Reporting Person is the managing member. In that capacity, the Reporting Person continues to possess sole voting and dispositive power over all of these Shares, but disclaims beneficial ownership over these Shares except to the extent of any pecuniary interest he may have therein.

SEC source: 0000899243-20-018577 · doc4.xml · derivative · entry 1

DUCA MAURICE J · CIK 0000938333 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By IGSB IVP III, LLC

Disclosed balance after: 3,554,584

Underlying: Class A Common Stock · 300,691 shares

Expires not disclosed

F1 · kind: On July 1, 2020, the investors in one of the investment funds of IGSB IVP III, LLC ("IVP III") approved its distribution of all 300,691 shares of AppFolio Class B Common Stock ("Class B Shares") then held in that investment fund, pro-rata to the investors. No consideration was paid by any of the investors for the respective Class B Shares distributed to them.

F1 · shares: On July 1, 2020, the investors in one of the investment funds of IGSB IVP III, LLC ("IVP III") approved its distribution of all 300,691 shares of AppFolio Class B Common Stock ("Class B Shares") then held in that investment fund, pro-rata to the investors. No consideration was paid by any of the investors for the respective Class B Shares distributed to them.

F2 · derivative.exercise_date: Each Class B Share is convertible, at any time at the option of the holder, into one 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.

F4 · balance_after: These Class B Shares are owned by IGSB IVP III LLC, a private investment fund, which is managed by Investment Group of Santa Barbara LLC ("IGSB"). The Reporting Person is one of the members of IGSB and may be deemed to share voting and dispositive power with IGSB and its other members over these Class B Shares. However, the Reporting Person disclaims beneficial ownership of these Class B Shares, except to the extent of any pecuniary interest he may have therein.

F4 · ownership.nature: These Class B Shares are owned by IGSB IVP III LLC, a private investment fund, which is managed by Investment Group of Santa Barbara LLC ("IGSB"). The Reporting Person is one of the members of IGSB and may be deemed to share voting and dispositive power with IGSB and its other members over these Class B Shares. However, the Reporting Person disclaims beneficial ownership of these Class B Shares, except to the extent of any pecuniary interest he may have therein.

SEC source: 0000899243-20-000132 · doc4.xml · nonDerivative · entry 1

DUCA MAURICE J · CIK 0000938333 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By Pension Plan

Disclosed balance after: 27,509

F1 · kind: As reported in a Form 4 filed by the Reporting Person on December 28, 2017, Duca Fund 12, LLC ("Fund 12"), held a total of 400,000 shares of the issuer's Class A Common Stock ("Class A Shares") and a private pension plan held a total of 52,830 Class A Shares. The Reporting Person beneficially owned, indirectly, all of these Class A Shares, because he was the sole manager of Fund 12 and the sole trustee of that pension plan, possessing sole dispositive and voting power over all of these Class A Shares. The beneficiary of that pension plan ("Plan 1") was a person other than the Reporting Person.

F2 · kind: On August 3, 2018, Fund 12 transferred, without consideration, a total of 17,079 Class A Shares to Plan 1 and 9,805 Class A Shares to another pension plan of which the Reporting Person was also the sole trustee and beneficiary ("Plan 2"). These transfers did not change or otherwise affect the total number of Class A Shares beneficially owned by the Reporting Person or the nature of his beneficial ownership, because he was the indirect beneficial owner of all of these Class A Shares both prior to and after these transfers. On December 31, 2018, the above-referenced 9,805 Class A Shares were rolled over, without consideration, from Plan 2 to the Reporting Person's IRA. This rollover changed the nature of the Reporting Person's beneficial ownership of these 9,805 Shares from indirect to direct, but did not change or otherwise affect the total number of Class A Shares over which the Reporting Person possessed sole dispositive and voting power.

F3 · kind: On December 30, 2019, 42,400 of the Class A Shares that had been held by Plan 1 were distributed, without consideration, to the beneficiary of that Plan. The Reporting Person did not have any pecuniary interest in these Shares. As a result, the only effect of that distribution was to reduce the total number of Class A Shares beneficially owned by the Reporting Person.

F1 · price: As reported in a Form 4 filed by the Reporting Person on December 28, 2017, Duca Fund 12, LLC ("Fund 12"), held a total of 400,000 shares of the issuer's Class A Common Stock ("Class A Shares") and a private pension plan held a total of 52,830 Class A Shares. The Reporting Person beneficially owned, indirectly, all of these Class A Shares, because he was the sole manager of Fund 12 and the sole trustee of that pension plan, possessing sole dispositive and voting power over all of these Class A Shares. The beneficiary of that pension plan ("Plan 1") was a person other than the Reporting Person.

F2 · price: On August 3, 2018, Fund 12 transferred, without consideration, a total of 17,079 Class A Shares to Plan 1 and 9,805 Class A Shares to another pension plan of which the Reporting Person was also the sole trustee and beneficiary ("Plan 2"). These transfers did not change or otherwise affect the total number of Class A Shares beneficially owned by the Reporting Person or the nature of his beneficial ownership, because he was the indirect beneficial owner of all of these Class A Shares both prior to and after these transfers. On December 31, 2018, the above-referenced 9,805 Class A Shares were rolled over, without consideration, from Plan 2 to the Reporting Person's IRA. This rollover changed the nature of the Reporting Person's beneficial ownership of these 9,805 Shares from indirect to direct, but did not change or otherwise affect the total number of Class A Shares over which the Reporting Person possessed sole dispositive and voting power.

F3 · price: On December 30, 2019, 42,400 of the Class A Shares that had been held by Plan 1 were distributed, without consideration, to the beneficiary of that Plan. The Reporting Person did not have any pecuniary interest in these Shares. As a result, the only effect of that distribution was to reduce the total number of Class A Shares beneficially owned by the Reporting Person.

F1 · balance_after: As reported in a Form 4 filed by the Reporting Person on December 28, 2017, Duca Fund 12, LLC ("Fund 12"), held a total of 400,000 shares of the issuer's Class A Common Stock ("Class A Shares") and a private pension plan held a total of 52,830 Class A Shares. The Reporting Person beneficially owned, indirectly, all of these Class A Shares, because he was the sole manager of Fund 12 and the sole trustee of that pension plan, possessing sole dispositive and voting power over all of these Class A Shares. The beneficiary of that pension plan ("Plan 1") was a person other than the Reporting Person.

F2 · balance_after: On August 3, 2018, Fund 12 transferred, without consideration, a total of 17,079 Class A Shares to Plan 1 and 9,805 Class A Shares to another pension plan of which the Reporting Person was also the sole trustee and beneficiary ("Plan 2"). These transfers did not change or otherwise affect the total number of Class A Shares beneficially owned by the Reporting Person or the nature of his beneficial ownership, because he was the indirect beneficial owner of all of these Class A Shares both prior to and after these transfers. On December 31, 2018, the above-referenced 9,805 Class A Shares were rolled over, without consideration, from Plan 2 to the Reporting Person's IRA. This rollover changed the nature of the Reporting Person's beneficial ownership of these 9,805 Shares from indirect to direct, but did not change or otherwise affect the total number of Class A Shares over which the Reporting Person possessed sole dispositive and voting power.

F3 · balance_after: On December 30, 2019, 42,400 of the Class A Shares that had been held by Plan 1 were distributed, without consideration, to the beneficiary of that Plan. The Reporting Person did not have any pecuniary interest in these Shares. As a result, the only effect of that distribution was to reduce the total number of Class A Shares beneficially owned by the Reporting Person.

F1 · ownership.direct: As reported in a Form 4 filed by the Reporting Person on December 28, 2017, Duca Fund 12, LLC ("Fund 12"), held a total of 400,000 shares of the issuer's Class A Common Stock ("Class A Shares") and a private pension plan held a total of 52,830 Class A Shares. The Reporting Person beneficially owned, indirectly, all of these Class A Shares, because he was the sole manager of Fund 12 and the sole trustee of that pension plan, possessing sole dispositive and voting power over all of these Class A Shares. The beneficiary of that pension plan ("Plan 1") was a person other than the Reporting Person.

F2 · ownership.direct: On August 3, 2018, Fund 12 transferred, without consideration, a total of 17,079 Class A Shares to Plan 1 and 9,805 Class A Shares to another pension plan of which the Reporting Person was also the sole trustee and beneficiary ("Plan 2"). These transfers did not change or otherwise affect the total number of Class A Shares beneficially owned by the Reporting Person or the nature of his beneficial ownership, because he was the indirect beneficial owner of all of these Class A Shares both prior to and after these transfers. On December 31, 2018, the above-referenced 9,805 Class A Shares were rolled over, without consideration, from Plan 2 to the Reporting Person's IRA. This rollover changed the nature of the Reporting Person's beneficial ownership of these 9,805 Shares from indirect to direct, but did not change or otherwise affect the total number of Class A Shares over which the Reporting Person possessed sole dispositive and voting power.

F3 · ownership.direct: On December 30, 2019, 42,400 of the Class A Shares that had been held by Plan 1 were distributed, without consideration, to the beneficiary of that Plan. The Reporting Person did not have any pecuniary interest in these Shares. As a result, the only effect of that distribution was to reduce the total number of Class A Shares beneficially owned by the Reporting Person.

F1 · ownership.nature: As reported in a Form 4 filed by the Reporting Person on December 28, 2017, Duca Fund 12, LLC ("Fund 12"), held a total of 400,000 shares of the issuer's Class A Common Stock ("Class A Shares") and a private pension plan held a total of 52,830 Class A Shares. The Reporting Person beneficially owned, indirectly, all of these Class A Shares, because he was the sole manager of Fund 12 and the sole trustee of that pension plan, possessing sole dispositive and voting power over all of these Class A Shares. The beneficiary of that pension plan ("Plan 1") was a person other than the Reporting Person.

F2 · ownership.nature: On August 3, 2018, Fund 12 transferred, without consideration, a total of 17,079 Class A Shares to Plan 1 and 9,805 Class A Shares to another pension plan of which the Reporting Person was also the sole trustee and beneficiary ("Plan 2"). These transfers did not change or otherwise affect the total number of Class A Shares beneficially owned by the Reporting Person or the nature of his beneficial ownership, because he was the indirect beneficial owner of all of these Class A Shares both prior to and after these transfers. On December 31, 2018, the above-referenced 9,805 Class A Shares were rolled over, without consideration, from Plan 2 to the Reporting Person's IRA. This rollover changed the nature of the Reporting Person's beneficial ownership of these 9,805 Shares from indirect to direct, but did not change or otherwise affect the total number of Class A Shares over which the Reporting Person possessed sole dispositive and voting power.

F3 · ownership.nature: On December 30, 2019, 42,400 of the Class A Shares that had been held by Plan 1 were distributed, without consideration, to the beneficiary of that Plan. The Reporting Person did not have any pecuniary interest in these Shares. As a result, the only effect of that distribution was to reduce the total number of Class A Shares beneficially owned by the Reporting Person.

SEC source: 0000899243-17-029693 · doc4.xml · nonDerivative · entry 1

DUCA MAURICE J · CIK 0000938333 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By Pension Plan

Disclosed balance after: 52,830

F1 · kind: These Class A Shares were owned by a pension plan of which the Reporting Person is the sole trustee and who, in that capacity, possessed sole voting and investment power over the Shares. However, the Reporting Person did not and does not possess any pecuniary interest in these Shares. As reported above, on December 27, 2017, 139,000 of the Class A Shares were distributed from the pension plan to the beneficiary of that pension plan, which had the effect of reducing the number of Class A Shares owned by the pension plan, and over which the Reporting Person possesses beneficial ownership, to 52,830 Shares.

F1 · price: These Class A Shares were owned by a pension plan of which the Reporting Person is the sole trustee and who, in that capacity, possessed sole voting and investment power over the Shares. However, the Reporting Person did not and does not possess any pecuniary interest in these Shares. As reported above, on December 27, 2017, 139,000 of the Class A Shares were distributed from the pension plan to the beneficiary of that pension plan, which had the effect of reducing the number of Class A Shares owned by the pension plan, and over which the Reporting Person possesses beneficial ownership, to 52,830 Shares.

F1 · balance_after: These Class A Shares were owned by a pension plan of which the Reporting Person is the sole trustee and who, in that capacity, possessed sole voting and investment power over the Shares. However, the Reporting Person did not and does not possess any pecuniary interest in these Shares. As reported above, on December 27, 2017, 139,000 of the Class A Shares were distributed from the pension plan to the beneficiary of that pension plan, which had the effect of reducing the number of Class A Shares owned by the pension plan, and over which the Reporting Person possesses beneficial ownership, to 52,830 Shares.

F1 · ownership.direct: These Class A Shares were owned by a pension plan of which the Reporting Person is the sole trustee and who, in that capacity, possessed sole voting and investment power over the Shares. However, the Reporting Person did not and does not possess any pecuniary interest in these Shares. As reported above, on December 27, 2017, 139,000 of the Class A Shares were distributed from the pension plan to the beneficiary of that pension plan, which had the effect of reducing the number of Class A Shares owned by the pension plan, and over which the Reporting Person possesses beneficial ownership, to 52,830 Shares.

F1 · ownership.nature: These Class A Shares were owned by a pension plan of which the Reporting Person is the sole trustee and who, in that capacity, possessed sole voting and investment power over the Shares. However, the Reporting Person did not and does not possess any pecuniary interest in these Shares. As reported above, on December 27, 2017, 139,000 of the Class A Shares were distributed from the pension plan to the beneficiary of that pension plan, which had the effect of reducing the number of Class A Shares owned by the pension plan, and over which the Reporting Person possesses beneficial ownership, to 52,830 Shares.

SEC source: 0000899243-17-024523 · doc4.xml · nonDerivative · entry 1

DUCA MAURICE J · CIK 0000938333 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By IGSB IVP III, LLC

Disclosed balance after: 13,072

F1 · kind: Pro rata distribution of shares of Class A Common Stock ("Class A Shares") from two limited partnerships with respect to which, from a beneficial ownership standpoint, the reporting person may be deemed, in each case, to be an indirect limited partner. See Note (2) below.

F1 · price: Pro rata distribution of shares of Class A Common Stock ("Class A Shares") from two limited partnerships with respect to which, from a beneficial ownership standpoint, the reporting person may be deemed, in each case, to be an indirect limited partner. See Note (2) below.

F1 · ownership.direct: Pro rata distribution of shares of Class A Common Stock ("Class A Shares") from two limited partnerships with respect to which, from a beneficial ownership standpoint, the reporting person may be deemed, in each case, to be an indirect limited partner. See Note (2) below.

F2 · ownership.direct: These Class A Shares are owned by IGSB IVP III, LLC, a private investment fund managed by Investment Group of Santa Barbara LLC ("IGSB"). Mr. Duca is one of three members of IGSB and all decisions regarding the voting and disposition of these Shares require the unanimous approval of all three of IGSB's members. As a result, Mr. Duca may be deemed to share voting and dispositive power over these Shares with IGSB and its other two members. However, Mr. Duca disclaims beneficial ownership of these Shares, except to the extent of any pecuniary interest he may have therein.

SEC source: 0000899243-17-011042 · doc4.xml · derivative · entry 5

DUCA MAURICE J · CIK 0000938333 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,827,702

Underlying: Class A Common Stock · 300,070 shares

Expires not disclosed

F7 · kind: These Class B Shares were acquired in exchange for a like number of Class A Shares in the private transaction referenced in footnote (1) above.

F7 · price: These Class B Shares were acquired in exchange for a like number of Class A Shares in the private transaction referenced in footnote (1) above.

F5 · derivative.exercise_date: The Class B Shares do not have an 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 transferred by the Reporting Person 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), such as the Reporting Person.

F6 · derivative.exercise_date: 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 AppFolio's outstanding Class B Shares represents less than 10% of the sum of AppFolio's outstanding Class A and Class B Shares.

F5 · derivative.expiration_date: The Class B Shares do not have an 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 transferred by the Reporting Person 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), such as the Reporting Person.

F6 · derivative.expiration_date: 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 AppFolio's outstanding Class B Shares represents less than 10% of the sum of AppFolio's outstanding Class A and Class B Shares.

SEC source: 0000899243-17-011042 · doc4.xml · nonDerivative · entry 1

DUCA MAURICE J · CIK 0000938333 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

F1 · kind: The Reporting Person exchanged these shares of AppFolio Class A Common Stock ("Class A Shares") for a like number of shares of AppFolio Class B Common Stock ("Class B Shares") in a private transaction.

F1 · shares: The Reporting Person exchanged these shares of AppFolio Class A Common Stock ("Class A Shares") for a like number of shares of AppFolio Class B Common Stock ("Class B Shares") in a private transaction.

F1 · price: The Reporting Person exchanged these shares of AppFolio Class A Common Stock ("Class A Shares") for a like number of shares of AppFolio Class B Common Stock ("Class B Shares") in a private transaction.

SEC source: 0000899243-17-011042 · doc4.xml · derivative · entry 4

DUCA MAURICE J · CIK 0000938333 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By Pension Trust

Disclosed balance after: 1,058,056

Underlying: Class A Common Stock · 300,070 shares

Expires not disclosed

F4 · kind: The 300,070 Class B Shares, which were held in a pension plan over which the Reporting Person possessed sole voting and dispositive power, were distributed, without consideration, to the beneficiary under the plan, leaving a total of 1,058,056 Class B Shares in the pension plan. The Reporting Person ceased to possess voting and dispositive power over these 300,070 Class B Shares upon their distribution to the beneficiary. As previously reported, the Reporting Person did not have a pecuniary interest in those 300,070 Class B Shares, and he does not have any pecuniary interest in, and disclaims beneficial ownership of, the 1,058,056 Class B Shares that remain in the pension plan.

F4 · price: The 300,070 Class B Shares, which were held in a pension plan over which the Reporting Person possessed sole voting and dispositive power, were distributed, without consideration, to the beneficiary under the plan, leaving a total of 1,058,056 Class B Shares in the pension plan. The Reporting Person ceased to possess voting and dispositive power over these 300,070 Class B Shares upon their distribution to the beneficiary. As previously reported, the Reporting Person did not have a pecuniary interest in those 300,070 Class B Shares, and he does not have any pecuniary interest in, and disclaims beneficial ownership of, the 1,058,056 Class B Shares that remain in the pension plan.

F5 · derivative.exercise_date: The Class B Shares do not have an 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 transferred by the Reporting Person 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), such as the Reporting Person.

F6 · derivative.exercise_date: 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 AppFolio's outstanding Class B Shares represents less than 10% of the sum of AppFolio's outstanding Class A and Class B Shares.

F5 · derivative.expiration_date: The Class B Shares do not have an 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 transferred by the Reporting Person 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), such as the Reporting Person.

F6 · derivative.expiration_date: 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 AppFolio's outstanding Class B Shares represents less than 10% of the sum of AppFolio's outstanding Class A and Class B Shares.

F4 · ownership.direct: The 300,070 Class B Shares, which were held in a pension plan over which the Reporting Person possessed sole voting and dispositive power, were distributed, without consideration, to the beneficiary under the plan, leaving a total of 1,058,056 Class B Shares in the pension plan. The Reporting Person ceased to possess voting and dispositive power over these 300,070 Class B Shares upon their distribution to the beneficiary. As previously reported, the Reporting Person did not have a pecuniary interest in those 300,070 Class B Shares, and he does not have any pecuniary interest in, and disclaims beneficial ownership of, the 1,058,056 Class B Shares that remain in the pension plan.

SEC source: 0000899243-17-001653 · doc4.xml · derivative · entry 1

DUCA MAURICE J · CIK 0000938333 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,527,632

Underlying: Class A Common Stock · 25,000 shares

Expires not disclosed

F1 · derivative.exercise_date: The shares of Class B Common Stock ("Class B Shares") do not have an expiration date. Each Class B Share is convertible, at any time at the option of the holder, into one share of AppFolio's Class A Common Stock (the "Class A Shares"). In addition, Class B Shares that are transferred by the Reporting Person 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), such as the Reporting Person.

F2 · derivative.exercise_date: All of the outstanding Class B Shares will convert automatically into Class A Shares, on a one share-for-one share basis, on the date when the number of the Company's outstanding Class B Shares represents less than 10% of the sum of AppFolio's outstanding Class A and Class B Shares.

F1 · derivative.expiration_date: The shares of Class B Common Stock ("Class B Shares") do not have an expiration date. Each Class B Share is convertible, at any time at the option of the holder, into one share of AppFolio's Class A Common Stock (the "Class A Shares"). In addition, Class B Shares that are transferred by the Reporting Person 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), such as the Reporting Person.

F2 · derivative.expiration_date: 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: 0000899243-16-034172 · doc4.xml · derivative · entry 1

DUCA MAURICE J · CIK 0000938333 · 10% owner

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

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By IGSB IVP III

Disclosed balance after: 3,855,275

Underlying: Class A Common Stock · 32,377 shares

Expires not disclosed

F1 · derivative.exercise_date: The shares of Class B Common Stock ("Class B Shares") do not have an expiration date. Each Class B Share is convertible, at any time at the option of the holder, into one share of AppFolio's Class A Common Stock (the "Class A Shares"). In addition, Class B Shares that are transferred by the Reporting Person 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), such as the Reporting Person.

F2 · derivative.exercise_date: All of the outstanding Class B Shares will convert automatically into Class A Shares, on a one share-for-one share basis, on the date when the number of the Company's outstanding Class B Shares represents less than 10% of the sum of AppFolio's outstanding Class A and Class B Shares.

F1 · derivative.expiration_date: The shares of Class B Common Stock ("Class B Shares") do not have an expiration date. Each Class B Share is convertible, at any time at the option of the holder, into one share of AppFolio's Class A Common Stock (the "Class A Shares"). In addition, Class B Shares that are transferred by the Reporting Person 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), such as the Reporting Person.

F2 · derivative.expiration_date: 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.

F3 · balance_after: These Class B Shares are owned by IGSB IVP III LLC, a private investment fund ("IVP III"), which is managed by Investment Group of Santa Barbara LLC ("IGSB"). On November 22, 2016, the Reporting Person, who is a member of IVP III, indirectly purchased a total of 32,377 Class B Shares, by means of a purchase of an additional interest in IVP III from another of its members, for an aggregate purchase price of $637,826.90. The Reporting Person also is one of the three members of IGSB and all decisions regarding the voting, conversion, transfer or other disposition of the Class B Shares owned by IVP III require the unanimous approval of all three members. As a result, the Reporting Person may be deemed to share voting and dispositive power, with IGSB and its other two members, over the Class B Shares owned by IVP III. However, the Reporting Person disclaims beneficial ownership of these shares, except to the extent of his pecuniary interest therein.

F3 · ownership.direct: These Class B Shares are owned by IGSB IVP III LLC, a private investment fund ("IVP III"), which is managed by Investment Group of Santa Barbara LLC ("IGSB"). On November 22, 2016, the Reporting Person, who is a member of IVP III, indirectly purchased a total of 32,377 Class B Shares, by means of a purchase of an additional interest in IVP III from another of its members, for an aggregate purchase price of $637,826.90. The Reporting Person also is one of the three members of IGSB and all decisions regarding the voting, conversion, transfer or other disposition of the Class B Shares owned by IVP III require the unanimous approval of all three members. As a result, the Reporting Person may be deemed to share voting and dispositive power, with IGSB and its other two members, over the Class B Shares owned by IVP III. However, the Reporting Person disclaims beneficial ownership of these shares, except to the extent of his pecuniary interest therein.

SEC source: 0000899243-16-030716 · doc4.xml · derivative · entry 1

DUCA MAURICE J · CIK 0000938333 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By R. Duca Pension Trust

Disclosed balance after: 58,474

Underlying: Class A Common Stock · Not disclosed shares

Expires not disclosed

F1 · derivative.exercise_date: The shares of Class B Common Stock ("Class B Shares") do not have an expiration date. Each Class B Share is convertible, at any time at the option of the holder, into one share of AppFolio's Class A Common Stock (the "Class A Shares"). In addition, Class B Shares that are transferred by the Reporting Person 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: 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 AppFolio's outstanding Class B Shares represents less than 10% of the sum of AppFolio's outstanding Class A and Class B Shares.

F1 · derivative.expiration_date: The shares of Class B Common Stock ("Class B Shares") do not have an expiration date. Each Class B Share is convertible, at any time at the option of the holder, into one share of AppFolio's Class A Common Stock (the "Class A Shares"). In addition, Class B Shares that are transferred by the Reporting Person 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: 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 AppFolio's outstanding Class B Shares represents less than 10% of the sum of AppFolio's outstanding Class A and Class B Shares.

F1 · derivative.underlying_shares: The shares of Class B Common Stock ("Class B Shares") do not have an expiration date. Each Class B Share is convertible, at any time at the option of the holder, into one share of AppFolio's Class A Common Stock (the "Class A Shares"). In addition, Class B Shares that are transferred by the Reporting Person 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.underlying_shares: 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 AppFolio's outstanding Class B Shares represents less than 10% of the sum of AppFolio's outstanding Class A and Class B Shares.

F3 · ownership.direct: These Class B Shares are owned by a pension plan of which the Reporting Person is both the trustee and the beneficiary. As a result, the Reporting Person possesses sole voting and dispositive power over these Shares.