Trigg William Shane 4

What Happened
AppFolio CEO Shane Trigg received 14,121 shares (performance-based restricted stock units) that vested on February 10, 2026. The grant was recorded at $188.30 per share for a gross value of $2,658,984. To satisfy tax withholding obligations, the issuer withheld 5,768 shares (disposed) at the same $188.30 price, with a total withheld value of about $1,086,115. Net shares retained by the CEO from this vesting were 8,353 shares (net value ≈ $1,572,870).

Key Details

• Transaction date: February 10, 2026. Price per share reported: $188.30.
• Award: 14,121 shares (code A) — gross value $2,658,984 (footnote F1: PSUs from Jan 29, 2025).
• Withholdings: eight separate withholding entries (code F) totaling 5,768 shares withheld to cover tax obligations (~$1,086,115). Withholdings relate to PSUs and RSUs from grants between 2021–2025 (footnotes F2–F9).
• Shares owned after the transaction: not specified in the provided filing details.
• Filing timeliness: filed Feb 12, 2026 for a Feb 10, 2026 vesting — appears timely (standard Form 4 window).

Context

• This was not an open-market sale or purchase; it was a vesting event where the company issued shares (PSUs/RSUs) and withheld a portion to satisfy taxes (common cashless/withholding settlement). Transaction codes: A = award/grant, F = shares withheld for taxes.
• Such vesting-and-withholding filings are routine executive compensation events and reflect grant fulfillment rather than a directional buy/sell decision by the insider.