APPFOLIO INC 4
4 · APPFOLIO INC · Filed Jun 25, 2015
Insider Transaction Report
Form 4
APPFOLIO INCAPPF
Donahoo Brian
DirectorChief Executive Officer
Transactions
- Conversion
Series B Convertible Preferred Stock
2015-06-25−37,063→ 0 total(indirect: By Trust)→ Class B Common Stock (9,266 underlying) - Conversion
Class B Common Stock
2015-06-25+9,266→ 1,266,149 total(indirect: By Trust)→ Class A Common Stock (9,266 underlying) - Conversion
Series A Convertible Preferred Stock
2015-06-25−322,600→ 0 total(indirect: By Trust)→ Class B Common Stock (80,650 underlying) - Conversion
Class B Common Stock
2015-06-25+80,650→ 1,256,883 total(indirect: By Trust)→ Class A Common Stock (80,650 underlying)
Footnotes (4)
- [F1]None of the Series of Convertible Preferred Stock have expiration dates. However, each share of Convertible Preferred Stock, irrespective of its Series, converted into 0.25 shares of Class B Common Stock immediately following the effectiveness of the Registration Statement on Form S-1 relating to the initial public offering (the "IPO") of AppFolio, Inc. (the "Issuer"). The Class B Common Stock has not been registered, and is not currently expected to be registered, under the Securities Exchange Act of 1934, as amended.
- [F2]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 IPO, 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]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.
- [F4]Shares are held by the Brian R. Donahoo Revocable Trust dated June 10, 2015, of which Mr. Donahoo serves as trustee.