Company: APPF
Filing Date: 2025-12-03
Form Type: 8-K
Source: 0001433195-25-000147
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Company: APPFOLIO INC
Filing Date: 2025-12-03
Form: 8-K
Item: Item 5.02
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Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(e) Former Chief Trust Officer Separation Agreement

As previously disclosed on October 30, 2025, Matt Mazza, the former Chief Trust Officer of AppFolio, Inc. (the “ Company”), departed the Company on November 14, 2025 (the “ Separation Date”).

In connection with Mr. Mazza’s departure, the Compensation Committee of the Board of Directors has approved, and the Company and Mr. Mazza have entered into a Separation Agreement, dated as of November 19, 2025 (the “ Separation Agreement”), which became effective on November 27, 2025. Pursuant to the Separation Agreement, Mr. Mazza will receive the following separation benefits: (i) an amount equal to $315,000, less all applicable tax withholdings and other authorized deductions, which represents nine months of Mr. Mazza’s base salary, paid in accordance with the Company’s normal biweekly payroll practices, with payments commencing on the Company’s first regularly-scheduled pay date following the Separation Date; (ii) an amount equal to $219,462, less all applicable tax withholdings and other authorized deductions, which represents a pro-rated portion of Mr. Mazza’s annual bonus under the Company’s Corporate Bonus Program for the Company’s fiscal year 2025, payable in a lump sum on the Company’s regularly scheduled pay date for bonus payments for similarly situated executives; (iii) subject to and conditioned upon Mr. Mazza’s valid and timely election to receive continuation coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended, and, if applicable, any state continuation coverage laws (collectively, “ COBRA”), the Company will pay or reimburse Mr. Mazza for the monthly COBRA premiums for him and his covered dependents (if any) during the period commencing on the Separation Date and ending on the earlier to occur of (x) nine months following the Separation Date and (y) the date that Mr. Mazza ceases to be eligible for continuation coverage under COBRA; and (iv) a continuation of Mr. Mazza’s participation in the Company’s Executive Medical Reimbursement Program in effect as of the Separation Date, which will allow Mr. Mazza to be reimbursed for eligible expenses incurred through November