Barat Elizabeth Erin 4

What Happened
Barat Elizabeth Erin, Chief People Officer of AppFolio, was granted 4,462 restricted stock units (RSUs) on January 27, 2026. The RSUs were reported at a grant price of $0.00 (standard for equity awards) and were issued under AppFolio’s 2025 Omnibus Incentive Plan. This is an award/compensation grant (transaction code A), not an open‑market purchase or sale.

Key Details

• Transaction date: 2026-01-27; Form 4 filed: 2026-01-29 (filing appears timely).
• Grant amount: 4,462 RSUs; reported price: $0.00 (grant value not shown on Form 4).
• Shares owned following the transaction: not specified on this Form 4.
• Footnote: The award is time‑based RSUs that vest over four years, with 1/16th vesting quarterly beginning May 10, 2026 (per Issuer’s 2025 Omnibus Incentive Plan).
• No 10b5-1 plan, tax‑withholding, or sale information disclosed in this filing.

Context
RSU grants are a form of compensation tied to continued employment and vesting schedules; they are routine for executives and do not represent a cash purchase or a sale. Because these units vest over time, their eventual economic value depends on future service and AppFolio’s stock price when vesting occurs.