Form 4: Maurice J. Duca Reports Changes in Beneficial Ownership of AppFolio Inc. Shares Following Dissolution of IGSB Cardinal Core MX, LLC
SEC Form 4 Filing
Maurice J. Duca, a director of AppFolio Inc., reported changes in his beneficial ownership of Class A and Class B common stock due to the dissolution of IGSB Cardinal Core MX, LLC on October 8, 2024.
Summary
- On October 8, 2024, IGSB Cardinal Core MX, LLC was dissolved, leading to a distribution of 2,572 Class A shares and 22,028 Class B shares to its investors.
- Maurice J. Duca, a director at AppFolio, received 5 Class A shares and 22,028 Class B shares as a result of the dissolution.
- Duca disclaims beneficial ownership of shares held by IGSB Gaucho Fund I, LLC, IGSB Cardinal Core BV, LLC, and a pension trust, except to the extent of any pecuniary interest.
- Duca also disclaims beneficial ownership of shares held by a charitable remainder trust, where he serves as a co-trustee.
- Class B shares are convertible into Class A shares at any time and will automatically convert upon transfer, with certain exceptions.
- All outstanding Class B shares will automatically convert to Class A shares when the number of outstanding Class B shares represents less than 10% of the total outstanding Class A and Class B shares.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing changes in share ownership. It doesn't inherently convey positive or negative sentiment about the company's prospects.
Future Outlook
The document does not contain any specific forward-looking statements regarding AppFolio's future performance.
Industry Context
This filing is a routine disclosure related to changes in beneficial ownership by a company insider, which is a common occurrence in publicly traded companies. It provides transparency to investors regarding the holdings of key individuals.
Stakeholder Impact
- The filing provides transparency to shareholders regarding the ownership structure of the company.
- The changes in beneficial ownership are unlikely to have a direct impact on employees, customers, suppliers, or creditors.
Key Dates
| Date | Description |
|---|---|
| June 30, 2015 | Date prior to which a partnership or LLC must have been a registered holder of Class B Shares for certain transfer exceptions to apply. |
| October 08, 2024 | Date of the transaction and dissolution of IGSB Cardinal Core MX, LLC. |
| October 10, 2024 | Date of the report filing. |
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