X0306 4 2017-03-22 0 0001433195 APPFOLIO INC APPF 0001218663 OBERNDORF WILLIAM E 615 FRONT STREET SAN FRANCISCO CA 94111 0 0 1 0 0001252471 PETER C OBERNDORF TRUST 615 FRONT STREET SAN FRANCISCO CA 94111 0 0 1 0 0001559795 Oberndorf Caroline G 615 FRONT STREET SAN FRANCISCO CA 94111 0 0 1 0 0001252472 WILLIAM ERNST OBERNDORF TRUST 615 FRONT STREET SAN FRANCISCO CA 94111 0 0 1 0 Class A common stock 2017-03-22 4 S 0 35200 24.07 D 10700 I See Footnote Class A common stock 2017-03-22 4 S 0 300 24.07 D 30 I See Footnote Class A common stock 2017-03-22 4 S 0 4500 24.07 D 8612 I See Footnote Class A common stock 506171 D Class A common stock 185269 I See Footnote Class A common stock 631086 I See Footnote Class A common stock 4100 I See Footnote 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 William E. Oberndorf ("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. These shares are held in the self-directed Individual Retirement Account of WEO. These shares are owned directly by the Bill & Susan Oberndorf Foundation, a California corporation ("Oberndorf Foundation"), and may be deemed to be indirectly beneficially owned by WEO as a controlling person of Oberndorf Foundation. WEO disclaims beneficial ownership of these shares except to the extent of his pecuniary interest therein. These shares are owned directly by Oberndorf Investments LLC, a Delaware limited liability company ("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 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. /s/ Gary Scheier, Gary Scheier as Attorney-in-Fact for William E. Oberndorf 2017-03-24 /s/ Gary Scheier, Gary Scheier as Attorney-in-Fact for Peter Oberndorf Irrevocable Trust, dated 6/30/89 2017-03-24 /s/ Gary Scheier, Gary Scheier as Attorney-in-Fact for Caroline G. Oberndorf 2017-03-24 /s/ Gary Scheier, Gary Scheier as Attorney-in-Fact for William E. Oberndorf Irrevocable Trust, dated 6/30/89 2017-03-24