SEC Form 4 · accession 0001433195-17-000017
APPFOLIO INC · APPF
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Jason Robert Randall
Officer — SVP, AppFolio Property Manager
Period of report
Feb 24, 2017
Accepted (ET)
Feb 28, 2017 · 8:03 pm EST
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Employee Stock Option (Right to Buy)F1,F3,F2 | $23.80 | Feb 24, 2017 | A | 66,000 | A | — | Feb 23, 2027 | Class A Common Stock | 66,000 | 66,000 | D |
Explanation of responses
- F1The options were granted pursuant to the Issuer's 2015 Stock Incentive Plan.
- F2The options vest based upon the Issuer's achievement relative to a pre-established target relating to free cash flow for fiscal year 2019. The Issuer's actual performance relative to the targeted amount will be determined by the Compensation Committee by reference to the Issuer's 2019 financial statements.
- F3The reported amount of shares assumes achievement at the maximum level for the performance option grant. For performance at 165% of the targeted amount, 100% of these performance options will vest. For performance at 100% of the targeted amount, approximately 61% of these performance options will vest. For performance below 80% of the targeted amount, no performance options will vest. For performance between 80% and 165% of the targeted amount, the vesting percentage will be determined by reference to a sliding vesting scale approved by the Compensation Committee.