Pickering Evan 4

What Happened
Evan Pickering, General Counsel of AppFolio, received a grant of 2,410 restricted stock units (RSUs) on January 27, 2026. The Form 4 reports the acquisition price as $0.00 (award/grant), so no cash purchase or sale occurred. This is an equity award rather than a market transaction.

Key Details

• Transaction date: 2026-01-27 (reported on Form 4 filed 2026-01-29). Filing appears timely.
• Transaction type/code: A — Award/Grant.
• Shares granted: 2,410 RSUs; acquisition price listed as $0.00 (total reported $0).
• Vesting (footnote): RSUs granted under AppFolio’s 2025 Omnibus Incentive Plan; vest over four years, with 1/16th vesting quarterly beginning May 10, 2026.
• Shares owned after transaction: not specified in the provided filing details.

Context
RSUs are a form of compensation that convert to shares if vesting conditions (usually continued employment) are met; they do not indicate an immediate purchase or sale of stock. Grants like this are common for executives and are intended for retention/incentive purposes. This award should be viewed as a compensation action rather than a direct signal of buying or selling activity.