Company: APPF
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001433195-25-000142
Chunk: 2

Company: APPFOLIO INC
Filing Date: 2025-10-30
Form: 10-Q
Item: Part II, Item 1A
Chunk 2
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isks Related to Our Class A Common Stock

Share repurchases could increase the volatility of the trading price of our common stock and diminish our cash reserves, and we cannot guarantee that our share repurchase program will enhance long-term stockholder value.

On April 23, 2025, our Board authorized the repurchase of up to $300.0 million of our Class A common stock pursuant to the 2025 Stock Repurchase Program. 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, terminated or suspended at any time. Repurchases of shares of our Class A common stock could affect the trading price of our Class A common stock and increase volatility of such securities. Similarly, the future announcement of the modification, suspension or termination of the 2025 Stock Repurchase Program, or our decision not to utilize the full authorized repurchase amount under the 2025 Stock Repurchase Program, could result in a decrease in the trading price of our Class A common stock. In addition, the 2025 Stock Repurchase Program could have the impact of reducing our cash reserves, which may impact our ability to finance our growth, fund working capital, strategic acquisitions or business opportunities, and other general corporate purposes and execute our strategic plan. Although the 2025 Stock Repurchase Program is intended to enhance long-term stockholder value, there can be no assurance that it will do so 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 5. Other Information

On August 14, 2025, Shane Trigg, our Chief Executive Officer and a member of our Board, adopted a Rule 10b5-1 trading arrangement providing for the sale between November 17, 2025 and November 19, 2026 of an indeterminate number of shares of our Class A common stock received by Mr. Trigg in connection with the vesting in between November 10, 2025 and November 10, 2026 of certain restricted stock units and performance share units held by Mr. Trigg. The actual number of shares of Class A common stock will depend on the vesting of the restrictive stock units and performance share units and the number of shares withheld to satisfy tax withholding obligations. Mr. Trigg's trading plan was entered into during an open trading