Company: APPF
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001433195-25-000142
Chunk: 23

Company: APPFOLIO INC
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 1
Chunk 23
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urchases, we substantially exhausted the remaining shares available for purchase under the 2019 Stock Repurchase Program, and it has terminated.On April 23, 2025, our Board authorized a $300.0 million share repurchase program (the "2025 Stock Repurchase Program") relating to our outstanding shares of Class A common stock. Under the 2025 Stock Repurchase Program, we are authorized to repurchase shares of our Class A common stock from time to time in open market purchases or privately negotiated transactions. The 2025 Stock Repurchase Program does not obligate us to repurchase any minimum dollar amount or number of shares, has no expiration date, and can be modified, suspended or terminated at any time and for any reason. The timing and actual number of shares repurchased will depend on a variety of factors, including price, corporate and legal requirements, market conditions and other factors. During the second quarter of 2025, we repurchased 243,987 shares of our Class A common stock through open market repurchases under the 2025 Stock Repurchase Program at an 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