Form 4: AppFolio CEO William Shane Trigg Disposes of Shares to Cover Tax Obligations
SEC Form 4
CEO William Shane Trigg disposed of shares to cover tax obligations related to vesting restricted stock units.
Summary
- On May 10, 2024, William Shane Trigg, CEO of AppFolio Inc., disposed of Class A Common Stock to cover tax obligations.
- The shares were withheld by the issuer to satisfy minimum tax withholding obligations related to the vesting of performance-based and time-based restricted stock units (RSUs).
- These RSUs were previously granted to Trigg under the company's 2015 Stock Incentive Plan on various dates including December 13, 2021, January 25, 2023, April 13, 2020, March 1, 2023 and January 24, 2024.
- The disposal price was $247.31 per share.
- Following these transactions, Trigg directly owns 97,282 shares of Class A Common Stock.
Sentiment
Score: 5
Explanation: This is a routine transaction related to executive compensation and tax obligations, and does not indicate a positive or negative sentiment.
Industry Context
Form 4 filings are a routine part of executive compensation and are common across publicly traded companies. The sale of shares to cover tax obligations is a standard practice.
Stakeholder Impact
- The transaction has a minimal impact on stakeholders as it is a routine disposal of shares to cover tax obligations.
Key Dates
| Date | Description |
|---|---|
| April 13, 2020 | Date of time-based restricted stock units (RSUs) previously granted to the Reporting Person pursuant to the Issuer's 2015 Stock Incentive Plan. |
| December 13, 2021 | Date of performance-based and time-based restricted stock units (RSUs) previously granted to the Reporting Person pursuant to the Issuer's 2015 Stock Incentive Plan. |
| January 25, 2023 | Date of performance-based restricted stock units (RSUs) previously granted to the Reporting Person pursuant to the Issuer's 2015 Stock Incentive Plan. |
| March 1, 2023 | Date of time-based restricted stock units (RSUs) previously granted to the Reporting Person pursuant to the Issuer's 2015 Stock Incentive Plan. |
| January 24, 2024 | Date of time-based restricted stock units (RSUs) previously granted to the Reporting Person pursuant to the Issuer's 2015 Stock Incentive Plan. |
| May 10, 2024 | Date of transaction: shares disposed of to cover tax obligations related to vesting RSUs. |
| May 14, 2024 | Date of Form 4 filing. |
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