Eaton Timothy Mathias 4

What Happened

• Timothy M. Eaton, Chief Financial Officer of AppFolio (APPF), received 7,415 shares on February 10, 2026 as the vesting of performance-based restricted stock units (PSUs). The shares are recorded at $188.30 each for a gross value of $1,396,245.
• The issuer withheld shares to satisfy tax-withholding obligations: a total of approximately 1,303 shares (cash value about $245,356), leaving Eaton with roughly 6,112 net shares valued at ~ $1,150,889. These withholding transactions are reported as dispositions (F codes) and are routine tax-withholding of vested awards.

Key Details

• Transaction date and price: February 10, 2026 at $188.30 per share.
• Primary transaction type: A (award/acquisition) — vesting of PSUs (granted July 30, 2025 per footnote F1).
• Withholding/dispositions: multiple F-coded entries (total ~1,303 shares) to satisfy minimum tax withholding for PSUs and RSUs from various grant dates (see footnotes F2–F9).
• Shares owned after transaction: not disclosed in the provided excerpt of the filing.
• Filing date / timeliness: Form 4 filed February 12, 2026 — appears timely (filed two days after vesting).
• Relevant footnotes: F1 = PSUs vesting (7/30/2025 grant); F2–F9 = share withholding for tax on vesting of PSUs/RSUs from several prior grants (2023–2025).

Context

• This was not an open-market sale or purchase — it was the vesting of equity awards and issuer share-withholding to cover taxes (a common, routine event). F-coded entries represent shares withheld by the company rather than a market sale.
• For retail investors: vesting awards indicate compensation being paid in equity. They are routine and do not necessarily signal the insider buying or selling stock in the market.