Company: APPF
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001433195-25-000142
Chunk: 48

Company: APPFOLIO INC
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 8
Chunk 48
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 average purchase price of $204.77 per share, inclusive of broker commissions, for an aggregate repurchase price of $50.0 million which was recorded as a reduction to stockholders' equity.During the three months ended September 30, 2025, we did not repurchase any shares of our Class A common stock under the 2025 Stock Repurchase Program. As of September 30, 2025, the amount remaining available for repurchases under the 2025 Stock Repurchase Program was $250.0 million.

 7. Stock-Based Compensation

Restricted Stock UnitsA summary of activity in connection with our restricted stock units ("RSUs") for the nine months ended September 30, 2025, is as follows (number of shares in thousands):Number of SharesWeighted Average Grant Date Fair Value per ShareUnvested as of December 31, 2024785 $159.98 Granted382 225.92 Vested(324)155.28 Forfeited(62)166.03 Unvested as of September 30, 2025781 $193.70 Unvested RSUs as of September 30, 2025 were composed of 0.7 million RSUs with only service conditions and 0.1 million performance share units ("PSUs") with both service conditions and performance conditions. RSUs granted with only service conditions generally vest over a four-year period, assuming continued employment through the applicable vesting date. The number of PSUs granted, as included in the above table, assumes achievement of the performance metrics at 100% of the performance target. The unvested PSUs as of September 30, 2025, are subject to vesting based on the achievement of pre-established performance metrics for the year ending December 31, 2025 and will vest over a three year period, assuming continued employment through each applicable vesting date. The actual number of shares to be granted at the end of the performance period will range from 0% to 171% of the target number of shares depending on achievement relative to the performance metrics over the applicable period. We recognized stock-based compensation expense for the RSUs and PSUs of $20.5 million and $15.9 million for the three months ended  September 30, 2025 and 2024, respectively, and $54.4 million and $43.4 million for the nine months ended September 30,