X0306 4 2017-03-03 0 0001433195 APPFOLIO INC APPF 0001218663 OBERNDORF WILLIAM E 615 FRONT STREET SAN FRANCISCO CA 94111 0 0 1 0 0001252468 OBERNDORF FOUNDATION 615 FRONT STREET SAN FRANCISCO CA 94111 0 0 1 0 0001607557 Oberndorf Investments, LLC 615 FRONT STREET SAN FRANCISCO CA 94111 0 0 1 0 Class A common stock 2017-03-03 4 S 0 500000 23.25 D 185269 I See Footnote Class A common stock 2017-03-07 4 J 0 2000 D 631086 I See Footnote Class A common stock 506171 D Class A common stock 4100 I See Footnote Class A common stock 45900 I See Footnote Class A common stock 330 I See Footnote Class A common stock 13112 I See Footnote These shares are owned directly by the Bill & Susan Oberndorf Foundation, a California corporation ("Oberndorf Foundation"), and were received in a bona fide gift transaction. These shares may be deemed to be indirectly beneficially owned by William E. Oberndorf ("WEO") as a controlling person of Oberndorf Foundation. WEO disclaims beneficial ownership of these shares except to the extent of his pecuniary interest therein. March 7, 2017 distribution by Oberndorf Investments LLC, a Delaware limited liability company ("OBI"), of 2,000 shares to a member. These shares are owned directly by OBI and may be deemed to be indirectly beneficially owned by WEO as the sole controlling person of OBI. WEO disclaims beneficial ownership of these shares except to the extent of his pecuniary interest therein. These shares are held in the self-directed Individual Retirement Account of WEO. These shares are directly owned by WEO's child, Peter C. Oberndorf, and may be deemed to be indirectly beneficially owned by WEO. WEO disclaims beneficial ownership of these shares except to the extent of his pecuniary interest therein. These shares are owned directly by the Peter Oberndorf Irrevocable Trust, dated 6/30/89 ("PCO Trust"), and may be deemed to be indirectly beneficially owned by WEO in his capacity as trustee for the PCO Trust. WEO disclaims beneficial ownership of these shares except to the extent of his pecuniary interest therein. These shares are directly owned by WEO's aunt, Caroline G. Oberndorf, and may be deemed to be indirectly beneficially owned by WEO in his capacity as an authorized signatory for the account of Caroline G. Oberndorf. WEO disclaims beneficial ownership of these shares except to the extent of his pecuniary interest therein. These shares are owned directly by the William E. Oberndorf Irrevocable Trust, dated 6/30/89 ("Oberndorf Irrevocable Trust"), and may be deemed to be indirectly beneficially owned by WEO in his capacity as trustee for the Oberndorf Irrevocable Trust. WEO disclaims beneficial ownership of these shares except to the extent of his pecuniary interest therein. /s/ Gary Scheier, Gary Scheier, as Attorney-in-Fact for, William E. Oberndorf 2017-03-07 /s/ Gary Scheier, Gary Scheier, as Attorney-in-Fact for, Bill & Susan Oberndorf Foundation 2017-03-07 /s/ Gary Scheier, Gary Scheier, as Attorney-in-Fact for, Oberndorf Investments LLC 2017-03-07