X0306 4 2017-05-09 0 0001433195 APPFOLIO INC APPF 0001218663 OBERNDORF WILLIAM E 615 FRONT STREET SAN FRANCISCO CA 94111 0 0 1 0 0001647292 OBERNDORF PETER CALDWELL 615 FRONT STREET SAN FRANCISCO CA 94111 0 0 1 0 Class A common stock 2017-05-09 4 S 0 3250 27.00 D 850 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 10700 I See Footnote Class A common stock 30 I See Footnote Class A common stock 8612 I See Footnote These shares are directly owned by William E. Oberndorf's ("WEO") 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 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 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 2017-05-11 /s/ Gary Scheier, Gary Scheier, as Attorney-in-Fact for Peter C. Oberndorf 2017-05-11