AppFolio (APPF) Director Michael Yang Receives RSUs

What Happened

• Michael Yang, a director of AppFolio, received two restricted stock unit (RSU) awards on June 29, 2026: 649 RSUs (pro‑rated annual director grant) and 1,568 RSUs (new director grant), totaling 2,217 RSUs. Each grant shows a reported price of $0.00 (typical for RSU awards). The RSUs vest 100% on the first anniversary of the grant date (i.e., June 29, 2027). This was an award/grant transaction (code A), not an open‑market purchase or sale.

Key Details

• Transaction date: June 29, 2026; Reported price: $0.00 for each grant.
• Total RSUs granted: 2,217 (649 prorated annual grant; 1,568 new director grant).
• Vesting: 100% on the first anniversary of each grant (per Footnotes F2 and F3).
• Reported holdings: The filing notes the reporting person holds 1,559 shares of Class A common stock in a Roth IRA (Footnote F1). The Form 4/A states no change to Mr. Yang’s beneficial ownership is being reported.
• Filing status: This is an amendment (Form 4/A) filed Aug 18, 2026 to correct the CIK/Reporting Owner info; the original Form 4 was filed July 1, 2026.

Context

• RSUs are compensation awards that convert to shares only upon vesting; they do not represent immediately tradable shares at grant. Such director RSU grants are a common form of board compensation and do not necessarily indicate buy/sell sentiment.
• This transaction is an award (A) rather than a purchase (P) or sale (S); no cash changed hands at grant and there is no indication of immediate sale or tax‑withholding in this filing.