Company: APPF
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001433195-25-000105
Chunk: 2

Company: APPFOLIO INC
Filing Date: 2025-07-31
Form: 10-Q
Item: Part II, Item 1A
Chunk 2
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 because the trading price of our Class A common stock may decline below the levels at which we repurchased our shares and short-term stock price fluctuations could reduce the effectiveness of the 2025 Stock Repurchase Program.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

The table below summarizes our repurchases of our Class A common stock during the three months ended June 30, 2025.

PeriodTotal Number of Shares Repurchased(1)Average Price Paid Per Share(2)Total Number of SharesPurchased as Part of the Publicly Announced Plans or ProgramsApproximate Dollar Value ofShares that May Yet Be Purchased Under the Plans or Programs(in thousands)(in thousands)(in millions)April 1, 2025 to April 30, 2025119$201.23 119 $276.0 May 1, 2025 to May 31, 2025125$208.15 125 $250.0 June 1, 2025 to June 30, 2025— $— — $250.0 Total244$204.77 244 

(1) On April 23, 2025, our Board  authorized the repurchase of up to $300.0 million of shares of our Class A common stock pursuant to the 2025 Stock Repurchase Program. The 2025 Stock Repurchase Program has no expiration date and can be modified, suspended, or terminated at any time and for any reason. For more information regarding the 2025 Stock Repurchase Program, refer to Note 7, Share Repurchase Program, of our Condensed Consolidated Financial Statements and Part I, Item 2, "Management's Discussion and Analysis of Financial Condition and Results of Operations - Liquidity and Capital Resources" of this Quarterly Report.

(2)  Average price paid per share includes costs associated with the repurchases.

Item 5. Other Information

(a)

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Appointment of Chief Financial Officer

On July 30, 2025 (the “Effective Date”), the Board of Directors of the Company (the “Board”) appointed Tim Eaton, 37, as the Chief Financial Officer of the Company. Mr. Eaton previously served as the Company’s Interim Chief Financial Officer from October 2024 until the Effective Date, the Company’s