Barat Elizabeth Erin 4
4 · APPFOLIO INC · Filed May 12, 2026
Research Summary
AI-generated summary of this filing
AppFolio (APPF) CPO Erin Barat Sells Shares (Tax Withholding + Open Market)
What Happened
Erin Barat, AppFolio’s Chief People Officer, had a series of share dispositions tied to vested restricted stock units and a separate open-market sale. On May 10, 2026 the issuer withheld 1,244 shares at $166.59 each to satisfy tax-withholding obligations related to the vesting of PSUs and RSUs (various grant dates). On May 12, 2026 Barat sold 1,978 shares in the open market at a weighted-average price of $158.12 for proceeds of $312,761. Combined disposals total 3,222 shares for roughly $520,000. These transactions are dispositions (tax withholding + sale), not purchases.
Key Details
- Dates and prices:
- May 10, 2026: 8 withholding dispositions totaling 1,244 shares @ $166.59 each (total ≈ $207,238) to satisfy tax withholding on vested PSUs/RSUs (footnotes F1–F7).
- May 12, 2026: Open-market sale of 1,978 shares @ weighted average $158.12 (range $158.00–$158.23) for $312,761 (footnote F8).
- Total disposed: 3,222 shares for ≈ $520,000.
- Shares owned after transaction: not disclosed in the provided filing excerpt.
- Footnotes: F1–F7 explain the May 10 transactions were issuer stock withheld for tax on vesting of performance- and time-based RSUs/PSUs (grant dates 2023–2026). F8 notes the open-market sale was executed in multiple trades (reported as a weighted average).
- Filing timing: Report period is May 10, 2026; Form filed May 12, 2026 — appears filed within the standard 2-business-day window.
Context
Tax-withholding dispositions mean the company retained shares to cover withholding on vested awards (common and administrative). The separate May 12 open-market sale was an actual sale to third parties. These are routine insider dispositions tied to compensation and tax obligations; they do not indicate a purchase-driven bullish signal. No indication in the provided data of a 10% owner transaction or a 10b5-1 plan.
Insider Transaction Report
- Tax Payment
Class A Common Stock
[F1]2026-05-10$166.59/sh−301$50,144→ 24,466 total - Tax Payment
Class A Common Stock
[F2]2026-05-10$166.59/sh−270$44,979→ 24,196 total - Tax Payment
Class A Common Stock
[F3]2026-05-10$166.59/sh−142$23,656→ 24,054 total - Tax Payment
Class A Common Stock
[F4]2026-05-10$166.59/sh−102$16,992→ 23,952 total - Tax Payment
Class A Common Stock
[F5]2026-05-10$166.59/sh−146$24,322→ 23,806 total - Tax Payment
Class A Common Stock
[F5]2026-05-10$166.59/sh−110$18,325→ 23,696 total - Tax Payment
Class A Common Stock
[F6]2026-05-10$166.59/sh−88$14,660→ 23,608 total - Tax Payment
Class A Common Stock
[F7]2026-05-10$166.59/sh−85$14,160→ 23,523 total - Sale
Class A Common Stock
[F8]2026-05-12$158.12/sh−1,978$312,761→ 21,545 total
Footnotes (8)
- [F1]Consists of Class A Common Stock withheld by the Issuer to satisfy the minimum tax withholding obligations of the Reporting Person arising in connection with the vesting on May 10, 2026 of the performance-based restricted stock units ("PSUs") previously granted to the Reporting Person on January 29, 2025 pursuant to the Issuer's 2025 Omnibus Plan.
- [F2]Consists of Class A Common Stock withheld by the Issuer to satisfy the minimum tax withholding obligations of the Reporting Person arising in connection with the vesting on May 10, 2026 of the PSUs previously granted to the Reporting Person on January 24, 2024 pursuant to the Issuer's 2015 Stock Incentive Plan.
- [F3]Consists of Class A Common Stock withheld by the Issuer to satisfy the minimum tax withholding obligations of the Reporting Person arising in connection with the vesting on May 10, 2026 of the time-based restricted stock units ("RSUs") previously granted to the Reporting Person on January 27, 2026 pursuant to the Issuer's 2025 Omnibus Plan.
- [F4]Consists of Class A Common Stock withheld by the Issuer to satisfy the minimum tax withholding obligations of the Reporting Person arising in connection with the vesting on May 10, 2026 of the RSUs previously granted to the Reporting Person on January 28, 2025 pursuant to the Issuer's 2025 Omnibus Plan.
- [F5]Consists of Class A Common Stock withheld by the Issuer to satisfy the minimum tax withholding obligations of the Reporting Person arising in connection with the vesting on May 10, 2026 of the RSUs previously granted to the Reporting Person on January 23, 2024 pursuant to the Issuer's 2015 Stock Incentive Plan.
- [F6]Consists of Class A Common Stock withheld by the Issuer to satisfy the minimum tax withholding obligations of the Reporting Person arising in connection with the vesting on May 10, 2026 of the RSUs previously granted to the Reporting Person on April 25, 2023 pursuant to the Issuer's 2015 Stock Incentive Plan.
- [F7]Consists of Class A Common Stock withheld by the Issuer to satisfy the minimum tax withholding obligations of the Reporting Person arising in connection with the vesting on May 10, 2026 of the RSUs previously granted to the Reporting Person on January 24, 2023 pursuant to the Issuer's 2015 Stock Incentive Plan.
- [F8]This transaction was executed in multiple trades with sales prices ranging from $158.00 to $158.23. The price reported above reflects the weighted average sales price for the cumulative trades. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer information regarding the individual trades.