AppFolio CPO Erin Barat Withholds Shares for Taxes

What Happened

• Erin Barat, Chief People Officer of AppFolio (APPF), had a total of 1,244 shares of Class A common stock withheld by the issuer on August 10, 2026 to satisfy minimum tax-withholding obligations tied to vested RSUs and PSUs. Each share was valued at $199.54; the withheld shares total approximately $248,227.
• These were not open-market sales but issuer withholdings (transaction code F) related to multiple equity awards granted between 2023 and 2026.

Key Details

• Transaction date: August 10, 2026. Filing date (Form 4): August 12, 2026 (filed two days after the transactions).
• Price per share reported: $199.54. Total withheld: 1,244 shares ≈ $248,227.
• Specific withheld lots (per filing): 300, 269, 142, 102, 110, 147, 88, and 86 shares (each disposed via issuer withholding).
• Footnotes: Withholdings relate to vesting of PSUs and RSUs granted under the issuer’s 2025 Omnibus Plan and the 2015 Stock Incentive Plan (grants dated from 2023–2026). These are tax-withholding dispositions (codes F1–F7 in the filing).
• Shares owned after transaction: not specified in the filing.
• Timeliness: Filing appears timely (Form 4 filed Aug 12 for Aug 10 transactions).

Context

• This is a routine tax-withholding event when restricted stock units vest; the company withholds shares to cover payroll/tax obligations. It is not an open-market sale and therefore is generally not a direct signal of the insider’s view of the stock.
• Transaction code F indicates shares were surrendered to the issuer for tax purposes rather than sold on the market.