IGSB IVP III, LLC 4
4 · APPFOLIO INC · Filed Dec 3, 2021
Insider Transaction Report
Form 4
APPFOLIO INCAPPF
IGSB IVP III, LLC
10% Owner
Transactions
- Other
Class B Common Stock
2021-12-01−3,554,584→ 0 totalExercise: $0.00→ Class A Common Stock (3,554,584 underlying)
Footnotes (3)
- [F1]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]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](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.