Company: APPF
Filing Date: 2025-04-28
Form Type: DEF 14A
Source: 0001433195-25-000061
Chunk: 48

Company: APPFOLIO INC
Filing Date: 2025-04-28
Form: DEF 14A
Chunk 48
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#### Mr. Trigg’s Employment Agreement
On March 1, 2023, we entered into an amended and restated employment agreement with Mr. Trigg in connection with his appointment as our President and Chief Executive Officer. His employment agreement provides for "at will" employment and sets forth the terms and conditions of Mr. Trigg's employment, including an annual base salary of at least $525,000, an annual bonus opportunity under our Corporate Bonus Plan equal to 100% of his annual base salary at target, a one-time sign-on bonus of $300,000 (which was subject to clawback in the event that Mr. Trigg’s employment was terminated by the Company for cause or by Mr. Trigg for any reason (other than due to death, disability or a resignation for good reason) prior to March 1, 2024), a special one-time award of time-based restricted stock units having an aggregate value of $1,500,000 (which grant was additive to additional time-based restricted stock units granted to Mr. Trigg earlier in 2023), a special one-time award of time-based options to purchase a total of 120,000 shares of the Company's Class A Common Stock, and, subject to approval of the Board, in each of fiscal years 2024, 2025, 2026 and 2027, time-based restricted stock units and performance share unit awards covering a number of shares of the Company's Class A Common Stock having an aggregate value of (i) no less than $3,000,000 annually in fiscal years 2024 and 2025, and (ii) no less than $3,500,000 annually in fiscal years 2026 and 2027.

Mr. Trigg’s employment agreement also provides for certain severance benefits upon specified termination events. Please see the section below entitled “Potential Payments Upon Termination or Change in Control” for more information regarding such severance benefits.

#### Mr. Mazza's Employment Agreement
During 2024, Mr. Mazza was not a party to an employment agreement with the Company. On February 6, 2025, we entered into an employment agreement with Mr. Mazza in connection with his appointment as our Chief Trust Officer. The employment agreement provides for “at-will” employment and sets forth the terms and conditions of Mr. Mazza’s employment, including an annual base salary of at least $420,000, an annual bonus opportunity under our corporate bonus plan equal