Company: APPF
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001433195-25-000105
Chunk: 65

Company: APPFOLIO INC
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 8
Chunk 65
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 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 Principle Accounting Officer from January 2025 until the Effective Date (see “Appointment of Principle Accounting Officer” below), the Company’s Chief of Staff to the CEO from 2022 until October 2024, and in various other leadership roles within the Company since 2020. Prior to joining the Company, Mr. Eaton worked in a variety of financial, strategic, and operational positions at Visa, Google, and Goldman Sachs. Mr. Eaton holds an M.B.A in finance and entrepreneurship from the Wharton School at the University of Pennsylvania and a B.S. in business management from Brigham Young University, and is a CFA charterholder.

There are no arrangements or understandings between Mr. Eaton and any other person pursuant to which he was selected to serve as the Chief Financial Officer. There are no family relationships between Mr. Eaton and any director, executive officer, or person nominated or chosen by the Company to become a director or executive officer. There are no transactions involving Mr. Eaton that are required to be reported pursuant to Item 404(a) of Regulation S-K.

In connection with his appointment as the Chief Financial Officer, Mr. Eaton entered into an employment agreement with the Company, dated as of July 30, 2025 (the “Employment Agreement”). The Employment Agreement provides for “at-will” employment and sets forth the terms and conditions of Mr. Eaton’s employment. Pursuant to the Employment Agreement, Mr. Eaton will be entitled to receive, among other things: (1) an annual base salary of $400,000; (2) an annual bonus opportunity under the Company’s corporate