Form 4: AppFolio CFO Fay Sien Goon Reports Tax Withholding on RSU Vesting
SEC Form 4 Filing
Fay Sien Goon, CFO of AppFolio, reports the withholding of Class A Common Stock to cover tax obligations related to the vesting of restricted stock units.
Summary
- On May 10, 2024, Fay Sien Goon, the Chief Financial Officer of AppFolio Inc., had shares of Class A Common Stock withheld by the issuer to cover tax obligations.
- These obligations arose from the vesting of performance-based and time-based restricted stock units (RSUs).
- The RSUs were previously granted under the company's 2015 Stock Incentive Plan on December 13, 2021, January 25, 2023, January 24, 2023 and January 23, 2024.
- A total of 2,160 shares were withheld at a price of $247.31 per share.
- Following these transactions, Goon directly owns 93,128 shares of Class A Common Stock.
Sentiment
Score: 5
Explanation: This is a neutral report on routine tax withholding related to executive compensation. It doesn't indicate positive or negative performance.
Industry Context
Form 4 filings are a routine part of executive compensation and provide transparency into insider transactions. This filing indicates the vesting of previously granted equity compensation.
Comparison to Industry Standards
- Equity compensation is a standard practice in the technology industry to align management's interests with those of shareholders.
- Companies like Atlassian, Salesforce, and Zoom also utilize RSUs as part of their compensation packages.
- The amount of equity granted and the vesting schedules vary based on company size, performance, and individual roles.
Key Dates
| Date | Description |
|---|---|
| 2021-12-13 | Date of initial grant of performance-based and time-based restricted stock units (RSUs) pursuant to the Issuer's 2015 Stock Incentive Plan. |
| 2023-01-23 | Date of initial grant of time-based restricted stock units (RSUs) pursuant to the Issuer's 2015 Stock Incentive Plan. |
| 2023-01-24 | Date of initial grant of time-based restricted stock units (RSUs) pursuant to the Issuer's 2015 Stock Incentive Plan. |
| 2023-01-25 | Date of initial grant of performance-based restricted stock units (RSUs) pursuant to the Issuer's 2015 Stock Incentive Plan. |
| 2024-05-10 | Date of transaction: Class A Common Stock withheld for tax obligations related to RSU vesting. |
| 2024-05-14 | Date of report filing. |
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