SEC Form 4 · accession 0000938332-15-000006
APPFOLIO INC · APPF
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Period of report
Oct 6, 2015
Accepted (ET)
Oct 8, 2015 · 9:35 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001433195
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Class B Common StockF3,F1,F2 | $0.00 | Oct 6, 2015 | P | 242,424 | A | — | — | Class A Common Stock | 242,424 | 993,627 | I |
Explanation of responses
- F1The shares of Class B Common Stock do not have an expiration date. Each share of Class B Common Stock is convertible, at any time at the option of the holder, into one share of Class A Common Stock. In addition, shares of Class B Common Stock that are transferred by the Reporting Person will convert automatically, on a one share-for-one share basis, into shares of Class A Common Stock, except for (i) any transfers to any person that is, and prior to June 30, 2015 was, a member of the Reporting Person, and (ii) any transfer to a "qualified recipient" as defined in the Company's Amended and Restated Certificate of Incorporation.
- F2All of the outstanding shares of Class B Common Stock will convert automatically into shares of Class A Common Stock, on a one share-for-one share basis, on the date when the number of the Company's outstanding shares of Class B Common Stock represents less than 10% of the sum of its outstanding shares of Class A Common Stock and Class B Common Stock.
- F3These shares of Class B Common Stock are owned by IGSB Internal Venture Fund III LLC, a private investment fund managed by Investment Group of Santa Barbara LLC ("IGSB"). Mr. Bliss is one of three members of IGSB and all decisions regarding the voting and disposition of these shares require the unanimous approval of all three members. As a result, Mr. Bliss may be deemed to share voting and dispositive power over these shares with IGSB and its other two members. However, Mr. Bliss disclaims beneficial ownership of these shares, except to the extent of his pecuniary interest therein