APPFOLIO INC — Director's Dealing 2026

Feb 12, 2026

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: APPFOLIO INC (APPF)
CIK: 0001433195
Period of Report: 2026-02-10

Reporting Person: Barat Elizabeth Erin (Chief People Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2026-02-10	Class A Common Stock	A	7062	$188.30	Acquired	26379	Direct
2026-02-10	Class A Common Stock	F	883	$188.30	Disposed	25496	Direct
2026-02-10	Class A Common Stock	F	191	$188.30	Disposed	25305	Direct
2026-02-10	Class A Common Stock	F	130	$188.30	Disposed	25175	Direct
2026-02-10	Class A Common Stock	F	72	$188.30	Disposed	25103	Direct
2026-02-10	Class A Common Stock	F	103	$188.30	Disposed	25000	Direct
2026-02-10	Class A Common Stock	F	78	$188.30	Disposed	24922	Direct
2026-02-10	Class A Common Stock	F	62	$188.30	Disposed	24860	Direct
2026-02-10	Class A Common Stock	F	61	$188.30	Disposed	24799	Direct
2026-02-10	Class A Common Stock	F	32	$188.30	Disposed	24767	Direct

Footnotes

F1: Consists of Class A Common Stock granted by the Issuer in connection with the vesting on February 10, 2026 of the performance-based restricted stock units ("PSUs") granted to the Reporting Person on January 29, 2025 pursuant to the Issuer's 2025 Omnibus Incentive 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 February 10, 2026 of the PSUs previously granted to the Reporting Person on January 29, 2025 pursuant to the Issuer's 2025 Omnibus 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 February 10, 2026 of the PSUs previously granted to the Reporting Person on January 24, 2024 pursuant to the Issuer's 2015 Stock Incentive 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 February 10, 2026 of the PSUs previously granted to the Reporting Person on January 25, 2023 pursuant to the Issuer's 2015 Stock Incentive 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 February 10, 2026 of the time-based restricted stock units ("RSUs") previously granted to the Reporting Person on January 28, 2025 pursuant to the Issuer's 2025 Omnibus 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 February 10, 2026 of the RSUs previously granted to the Reporting Person on January 23, 2024 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 February 10, 2026 of the RSUs previously granted to the Reporting Person on April 25, 2023 pursuant to the Issuer's 2015 Stock Incentive Plan.

F8: 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 February 10, 2026 of the RSUs previously granted to the Reporting Person on January 24, 2023 pursuant to the Issuer's 2015 Stock Incentive Plan.

F9: 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 February 10, 2026 of the RSUs previously granted to the Reporting Person on February 9, 2022 pursuant to the Issuer's 2015 Stock Incentive Plan.