{"transactions":[{"id":2485596,"issuer":{"id":3638,"kind":"organization","name":"APPFOLIO INC"},"owners":[{"id":132840,"kind":"organization","name":"Investment Group of Santa Barbara, LLC","position":1,"cik":"0001645662","reported_name":"Investment Group of Santa Barbara, LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Class B Common Stock","published_at":"2021-12-04T01:51:09.000Z","date":"2021-12-01","kind":"other","acquired":false,"shares":993627,"price":0,"value":0.0,"ownership":{"direct":false,"nature":"By IGSB Internal Venture Fund III, LLC"},"footnotes":[{"field":"kind","element":"transactionCoding","label":"F4","text":"IGSB also is the manager of IGSB Internal Venture Fund III, LLC (\"IVF III\").  On December 1, 2021, four investment funds of IVF III were dissolved, resulting in the termination of those investment funds and the distribution of an aggregate of 993,627 shares of AppFolio Class B Shares held by those investment funds, pro-rata to their investors.  No consideration was paid by any of the investors in those investment funds for the Class B Shares distributed to them."},{"field":"shares","element":"transactionShares","label":"F4","text":"IGSB also is the manager of IGSB Internal Venture Fund III, LLC (\"IVF III\").  On December 1, 2021, four investment funds of IVF III were dissolved, resulting in the termination of those investment funds and the distribution of an aggregate of 993,627 shares of AppFolio Class B Shares held by those investment funds, pro-rata to their investors.  No consideration was paid by any of the investors in those investment funds for the Class B Shares distributed to them."},{"field":"derivative.exercise_date","element":"exerciseDate","label":"F2","text":"Each Class B Share is convertible, at any time at the option of the holder, into one share of Appfolio Class A Common Stock (the \"Class A Shares\").  In addition, Class B Shares that are sold or otherwise transferred will convert automatically, on a one share-for-one share basis, into Class A Shares, except for (i) any transfer by a partnership or limited liability company that was a registered holder of Class B Shares prior to June 30, 2015 that is made to anyone who was a partner or member of any such partnership or limited liability company prior to June 30, 2015, and (ii) any transfer to a \"qualified recipient\" (as defined in AppFolio's Amended and Restated Certificate of Incorporation)."},{"field":"derivative.exercise_date","element":"exerciseDate","label":"F3","text":"(Continued from Footnote 2)  AppFolio's Class B Shares do not have an expiration date.  However, all of the outstanding Class B Shares will convert automatically into Class A Shares, on a one share-for-one share basis, on the date when the number of the Company's outstanding Class B Shares represents less than 10% of the sum of AppFolio's outstanding Class A and Class B Shares."},{"field":"derivative.expiration_date","element":"expirationDate","label":"F2","text":"Each Class B Share is convertible, at any time at the option of the holder, into one share of Appfolio Class A Common Stock (the \"Class A Shares\").  In addition, Class B Shares that are sold or otherwise transferred will convert automatically, on a one share-for-one share basis, into Class A Shares, except for (i) any transfer by a partnership or limited liability company that was a registered holder of Class B Shares prior to June 30, 2015 that is made to anyone who was a partner or member of any such partnership or limited liability company prior to June 30, 2015, and (ii) any transfer to a \"qualified recipient\" (as defined in AppFolio's Amended and Restated Certificate of Incorporation)."},{"field":"derivative.expiration_date","element":"expirationDate","label":"F3","text":"(Continued from Footnote 2)  AppFolio's Class B Shares do not have an expiration date.  However, all of the outstanding Class B Shares will convert automatically into Class A Shares, on a one share-for-one share basis, on the date when the number of the Company's outstanding Class B Shares represents less than 10% of the sum of AppFolio's outstanding Class A and Class B Shares."},{"field":"derivative.underlying_shares","element":"underlyingSecurityShares","label":"F4","text":"IGSB also is the manager of IGSB Internal Venture Fund III, LLC (\"IVF III\").  On December 1, 2021, four investment funds of IVF III were dissolved, resulting in the termination of those investment funds and the distribution of an aggregate of 993,627 shares of AppFolio Class B Shares held by those investment funds, pro-rata to their investors.  No consideration was paid by any of the investors in those investment funds for the Class B Shares distributed to them."},{"field":"ownership.direct","element":"directOrIndirectOwnership","label":"F4","text":"IGSB also is the manager of IGSB Internal Venture Fund III, LLC (\"IVF III\").  On December 1, 2021, four investment funds of IVF III were dissolved, resulting in the termination of those investment funds and the distribution of an aggregate of 993,627 shares of AppFolio Class B Shares held by those investment funds, pro-rata to their investors.  No consideration was paid by any of the investors in those investment funds for the Class B Shares distributed to them."}],"balance_after":0,"derivative":{"exercise_price":0,"underlying":"Class A Common Stock","underlying_shares":993627},"source":{"system":"sec-edgar","filing":"0000899243-21-046859","document":"doc4.xml","document_sequence":1,"table":"derivative","row_type":"transaction","position":2,"url":"https://www.sec.gov/Archives/edgar/data/1433195/000089924321046859/doc4.xml","form_type":"4"}},{"id":2485595,"issuer":{"id":3638,"kind":"organization","name":"APPFOLIO INC"},"owners":[{"id":132840,"kind":"organization","name":"Investment Group of Santa Barbara, LLC","position":1,"cik":"0001645662","reported_name":"Investment Group of Santa Barbara, LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Class B Common Stock","published_at":"2021-12-04T01:51:09.000Z","date":"2021-12-01","kind":"other","acquired":false,"shares":3554584,"price":0,"value":0.0,"ownership":{"direct":false,"nature":"By IGSB IVP III, LLC"},"footnotes":[{"field":"kind","element":"transactionCoding","label":"F1","text":"Investment Group of Santa Barbara, LLC (\"IGSB\") is the manager of IGSB IVP III, LLC (\"IVP III\").  On December 1, 2021, three of the investment funds of IVP III were dissolved, resulting in the termination of each of those investment funds and the distribution of an aggregate of 3,554,584 shares of AppFolio Class B Common Stock (\"Class B Shares\") held by those investment funds, pro-rata to their investors.  No consideration was paid by any of the investors in those investment funds for the Class B Shares distributed to them."},{"field":"shares","element":"transactionShares","label":"F1","text":"Investment Group of Santa Barbara, LLC (\"IGSB\") is the manager of IGSB IVP III, LLC (\"IVP III\").  On December 1, 2021, three of the investment funds of IVP III were dissolved, resulting in the termination of each of those investment funds and the distribution of an aggregate of 3,554,584 shares of AppFolio Class B Common Stock (\"Class B Shares\") held by those investment funds, pro-rata to their investors.  No consideration was paid by any of the investors in those investment funds for the Class B Shares distributed to them."},{"field":"derivative.exercise_date","element":"exerciseDate","label":"F2","text":"Each Class B Share is convertible, at any time at the option of the holder, into one share of Appfolio Class A Common Stock (the \"Class A Shares\").  In addition, Class B Shares that are sold or otherwise transferred will convert automatically, on a one share-for-one share basis, into Class A Shares, except for (i) any transfer by a partnership or limited liability company that was a registered holder of Class B Shares prior to June 30, 2015 that is made to anyone who was a partner or member of any such partnership or limited liability company prior to June 30, 2015, and (ii) any transfer to a \"qualified recipient\" (as defined in AppFolio's Amended and Restated Certificate of Incorporation)."},{"field":"derivative.exercise_date","element":"exerciseDate","label":"F3","text":"(Continued from Footnote 2)  AppFolio's Class B Shares do not have an expiration date.  However, all of the outstanding Class B Shares will convert automatically into Class A Shares, on a one share-for-one share basis, on the date when the number of the Company's outstanding Class B Shares represents less than 10% of the sum of AppFolio's outstanding Class A and Class B Shares."},{"field":"derivative.expiration_date","element":"expirationDate","label":"F2","text":"Each Class B Share is convertible, at any time at the option of the holder, into one share of Appfolio Class A Common Stock (the \"Class A Shares\").  In addition, Class B Shares that are sold or otherwise transferred will convert automatically, on a one share-for-one share basis, into Class A Shares, except for (i) any transfer by a partnership or limited liability company that was a registered holder of Class B Shares prior to June 30, 2015 that is made to anyone who was a partner or member of any such partnership or limited liability company prior to June 30, 2015, and (ii) any transfer to a \"qualified recipient\" (as defined in AppFolio's Amended and Restated Certificate of Incorporation)."},{"field":"derivative.expiration_date","element":"expirationDate","label":"F3","text":"(Continued from Footnote 2)  AppFolio's Class B Shares do not have an expiration date.  However, all of the outstanding Class B Shares will convert automatically into Class A Shares, on a one share-for-one share basis, on the date when the number of the Company's outstanding Class B Shares represents less than 10% of the sum of AppFolio's outstanding Class A and Class B Shares."},{"field":"derivative.underlying_shares","element":"underlyingSecurityShares","label":"F1","text":"Investment Group of Santa Barbara, LLC (\"IGSB\") is the manager of IGSB IVP III, LLC (\"IVP III\").  On December 1, 2021, three of the investment funds of IVP III were dissolved, resulting in the termination of each of those investment funds and the distribution of an aggregate of 3,554,584 shares of AppFolio Class B Common Stock (\"Class B Shares\") held by those investment funds, pro-rata to their investors.  No consideration was paid by any of the investors in those investment funds for the Class B Shares distributed to them."},{"field":"ownership.direct","element":"directOrIndirectOwnership","label":"F1","text":"Investment Group of Santa Barbara, LLC (\"IGSB\") is the manager of IGSB IVP III, LLC (\"IVP III\").  On December 1, 2021, three of the investment funds of IVP III were dissolved, resulting in the termination of each of those investment funds and the distribution of an aggregate of 3,554,584 shares of AppFolio Class B Common Stock (\"Class B Shares\") held by those investment funds, pro-rata to their investors.  No consideration was paid by any of the investors in those investment funds for the Class B Shares distributed to them."}],"balance_after":0,"derivative":{"exercise_price":0,"underlying":"Class A Common Stock","underlying_shares":3554584},"source":{"system":"sec-edgar","filing":"0000899243-21-046859","document":"doc4.xml","document_sequence":1,"table":"derivative","row_type":"transaction","position":1,"url":"https://www.sec.gov/Archives/edgar/data/1433195/000089924321046859/doc4.xml","form_type":"4"}},{"id":3088666,"issuer":{"id":3638,"kind":"organization","name":"APPFOLIO INC"},"owners":[{"id":132840,"kind":"organization","name":"Investment Group of Santa Barbara, LLC","position":1,"cik":"0001645662","reported_name":"Investment Group of Santa Barbara, LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Class B Common Stock","published_at":"2020-07-07T01:06:40.000Z","date":"2020-07-01","kind":"other","acquired":false,"shares":300691,"price":0,"value":0.0,"ownership":{"direct":false,"nature":"By IGSB IVP III, LLC"},"footnotes":[{"field":"kind","element":"transactionCoding","label":"F1","text":"Investment Group of Santa Barbara, LLC (\"IGSB\") is the manager of IGSB IVP III, LLC (\"IVP III\").  On July 1, 2020, the investors in one of the investment funds of IVP III approved the termination of that investment fund and the distribution of all 300,691 shares of AppFolio Class B Common Stock (\"Class B Shares\") held by that  investment fund, pro-rata to the investors.  No consideration was paid by the investors for the respective Class B Shares distributed to them."},{"field":"shares","element":"transactionShares","label":"F1","text":"Investment Group of Santa Barbara, LLC (\"IGSB\") is the manager of IGSB IVP III, LLC (\"IVP III\").  On July 1, 2020, the investors in one of the investment funds of IVP III approved the termination of that investment fund and the distribution of all 300,691 shares of AppFolio Class B Common Stock (\"Class B Shares\") held by that  investment fund, pro-rata to the investors.  No consideration was paid by the investors for the respective Class B Shares distributed to them."},{"field":"derivative.exercise_date","element":"exerciseDate","label":"F2","text":"Each Class B Share is convertible, at any time at the option of the holder, into one Class A Share.  In addition, Class B Shares that are sold or otherwise transferred will convert automatically, on a one share-for-one share basis, into Class A Shares, except for (i) any transfer by a partnership or limited liability company that was a registered holder of Class B Shares prior to June 30, 2015 that is made to anyone who was a partner or member of any such partnership or limited liability company prior to June 30, 2015, and (ii) any transfer to a \"qualified recipient\" (as defined in AppFolio's Amended and Restated Certificate of Incorporation)."},{"field":"derivative.exercise_date","element":"exerciseDate","label":"F3","text":"(Continued from Footnote 2)  AppFolio's Class B Shares do not have an expiration date.  However, all of the outstanding Class B Shares will convert automatically into Class A Shares, on a one share-for-one share basis, on the date when the number of the Company's outstanding Class B Shares represents less than 10% of the sum of AppFolio's outstanding Class A and Class B Shares."},{"field":"derivative.expiration_date","element":"expirationDate","label":"F2","text":"Each Class B Share is convertible, at any time at the option of the holder, into one Class A Share.  In addition, Class B Shares that are sold or otherwise transferred will convert automatically, on a one share-for-one share basis, into Class A Shares, except for (i) any transfer by a partnership or limited liability company that was a registered holder of Class B Shares prior to June 30, 2015 that is made to anyone who was a partner or member of any such partnership or limited liability company prior to June 30, 2015, and (ii) any transfer to a \"qualified recipient\" (as defined in AppFolio's Amended and Restated Certificate of Incorporation)."},{"field":"derivative.expiration_date","element":"expirationDate","label":"F3","text":"(Continued from Footnote 2)  AppFolio's Class B Shares do not have an expiration date.  However, all of the outstanding Class B Shares will convert automatically into Class A Shares, on a one share-for-one share basis, on the date when the number of the Company's outstanding Class B Shares represents less than 10% of the sum of AppFolio's outstanding Class A and Class B Shares."},{"field":"ownership.direct","element":"directOrIndirectOwnership","label":"F1","text":"Investment Group of Santa Barbara, LLC (\"IGSB\") is the manager of IGSB IVP III, LLC (\"IVP III\").  On July 1, 2020, the investors in one of the investment funds of IVP III approved the termination of that investment fund and the distribution of all 300,691 shares of AppFolio Class B Common Stock (\"Class B Shares\") held by that  investment fund, pro-rata to the investors.  No consideration was paid by the investors for the respective Class B Shares distributed to them."}],"balance_after":3554584,"derivative":{"exercise_price":0,"underlying":"Class A Common Stock","underlying_shares":300691},"source":{"system":"sec-edgar","filing":"0000899243-20-018566","document":"doc4.xml","document_sequence":1,"table":"derivative","row_type":"transaction","position":1,"url":"https://www.sec.gov/Archives/edgar/data/1433195/000089924320018566/doc4.xml","form_type":"4"}},{"id":4182938,"issuer":{"id":3638,"kind":"organization","name":"APPFOLIO INC"},"owners":[{"id":132841,"kind":"organization","name":"IGSB IVP III, LLC","position":1,"cik":"0001645481","reported_name":"IGSB IVP III, LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":132840,"kind":"organization","name":"Investment Group of Santa Barbara, LLC","position":2,"cik":"0001645662","reported_name":"Investment Group of Santa Barbara, LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Class A Common Stock","published_at":"2017-10-19T23:25:13.000Z","date":"2017-10-17","kind":"other","acquired":true,"shares":13072,"price":0,"value":0.0,"ownership":{"direct":true},"footnotes":[{"field":"kind","element":"transactionCoding","label":"F1","text":"Pro rata distribution of shares of Class A Common Stock (the \"Class A Shares\") from two limited partnerships of which, in each case, the reporting person is a limited partner."},{"field":"price","element":"transactionPricePerShare","label":"F1","text":"Pro rata distribution of shares of Class A Common Stock (the \"Class A Shares\") from two limited partnerships of which, in each case, the reporting person is a limited partner."},{"field":"ownership.direct","element":"directOrIndirectOwnership","label":"F2","text":"The Reporting Person is a private investment fund managed by Investment Group of Santa Barbara LLC (\"IGSB\")."}],"balance_after":13072,"source":{"system":"sec-edgar","filing":"0000899243-17-024526","document":"doc4.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":1,"url":"https://www.sec.gov/Archives/edgar/data/1433195/000089924317024526/doc4.xml","form_type":"4"}},{"id":4544891,"issuer":{"id":3638,"kind":"organization","name":"APPFOLIO INC"},"owners":[{"id":132842,"kind":"person","name":"RAUTH WILLIAM R III","position":1,"cik":"0001213191","reported_name":"RAUTH WILLIAM R III","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":132840,"kind":"organization","name":"Investment Group of Santa Barbara, LLC","position":2,"cik":"0001645662","reported_name":"Investment Group of Santa Barbara, LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Class B Common Stock","published_at":"2016-11-22T22:58:00.000Z","date":"2016-11-22","kind":"sale","acquired":false,"shares":32377,"price":637826.9,"value":20650921541.3,"ownership":{"direct":false,"nature":"By IGSB IVP III"},"footnotes":[{"field":"derivative.exercise_date","element":"exerciseDate","label":"F1","text":"The shares of Class B Common Stock (\"Class B Shares\") do not have an expiration date.  Each Class B Share is convertible, at any time at the option of the holder, into one share of AppFolio's Class A Common Stock (the \"Class A Shares\").  In addition, Class B Shares that are sold or otherwise transferred will convert automatically, on a one share-for-one share basis, into Class A Shares, except for (i) any transfer by a partnership or limited liability company that was a registered holder of Class A Shares prior to June 30, 2015 that is made to anyone who was a partner or member of any such partnership or limited liability company prior to June 30, 2015, and (ii) any transfer to a \"qualified recipient\" (as defined in AppFolio's Amended and Restated Certificate of Incorporation)."},{"field":"derivative.exercise_date","element":"exerciseDate","label":"F2","text":"All of the outstanding Class B Shares will convert automatically into Class A Shares, on a one share-for-one share basis, on the date when the number of the Company's outstanding Class B Shares represents less than 10% of the sum of AppFolio's outstanding Class A and Class B Shares."},{"field":"derivative.expiration_date","element":"expirationDate","label":"F1","text":"The shares of Class B Common Stock (\"Class B Shares\") do not have an expiration date.  Each Class B Share is convertible, at any time at the option of the holder, into one share of AppFolio's Class A Common Stock (the \"Class A Shares\").  In addition, Class B Shares that are sold or otherwise transferred will convert automatically, on a one share-for-one share basis, into Class A Shares, except for (i) any transfer by a partnership or limited liability company that was a registered holder of Class A Shares prior to June 30, 2015 that is made to anyone who was a partner or member of any such partnership or limited liability company prior to June 30, 2015, and (ii) any transfer to a \"qualified recipient\" (as defined in AppFolio's Amended and Restated Certificate of Incorporation)."},{"field":"derivative.expiration_date","element":"expirationDate","label":"F2","text":"All of the outstanding Class B Shares will convert automatically into Class A Shares, on a one share-for-one share basis, on the date when the number of the Company's outstanding Class B Shares represents less than 10% of the sum of AppFolio's outstanding Class A and Class B Shares."},{"field":"balance_after","element":"sharesOwnedFollowingTransaction","label":"F3","text":"These Class B Shares are owned by IGSB IVP III LLC, a private investment fund (\"IVP III\"), which is managed by Investment Group of Santa Barbara LLC (\"IGSB\").  On November 22, 2016, the Reporting Person, who is a member of IVP III, indirectly sold a total of 32,377 Class B Shares, by means of a sale of part of the interest he owned in IVP III, to one of its other members, for an aggregate sales price of $637,826.90.  The Reporting Person is one of the three members of IGSB and all decisions regarding the voting, conversion, transfer or other disposition of Class B Shares owned by IVP III require the unanimous approval of all three members.  As a result, the Reporting Person may be deemed to share voting and dispositive power, with IGSB and its other two members, over the Class B Shares owned by IVP III.  However, the Reporting Person disclaims beneficial ownership of these shares, except to the extent of any pecuniary interest he may have therein."},{"field":"ownership.direct","element":"directOrIndirectOwnership","label":"F3","text":"These Class B Shares are owned by IGSB IVP III LLC, a private investment fund (\"IVP III\"), which is managed by Investment Group of Santa Barbara LLC (\"IGSB\").  On November 22, 2016, the Reporting Person, who is a member of IVP III, indirectly sold a total of 32,377 Class B Shares, by means of a sale of part of the interest he owned in IVP III, to one of its other members, for an aggregate sales price of $637,826.90.  The Reporting Person is one of the three members of IGSB and all decisions regarding the voting, conversion, transfer or other disposition of Class B Shares owned by IVP III require the unanimous approval of all three members.  As a result, the Reporting Person may be deemed to share voting and dispositive power, with IGSB and its other two members, over the Class B Shares owned by IVP III.  However, the Reporting Person disclaims beneficial ownership of these shares, except to the extent of any pecuniary interest he may have therein."}],"balance_after":3855275,"derivative":{"exercise_price":0,"underlying":"Class A Common Stock","underlying_shares":32377},"source":{"system":"sec-edgar","filing":"0000899243-16-034173","document":"doc4.xml","document_sequence":1,"table":"derivative","row_type":"transaction","position":1,"url":"https://www.sec.gov/Archives/edgar/data/1433195/000089924316034173/doc4.xml","form_type":"4"}},{"id":4545772,"issuer":{"id":3638,"kind":"organization","name":"APPFOLIO INC"},"owners":[{"id":20551,"kind":"person","name":"DUCA MAURICE J","position":1,"cik":"0000938333","reported_name":"DUCA MAURICE J","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":132840,"kind":"organization","name":"Investment Group of Santa Barbara, LLC","position":2,"cik":"0001645662","reported_name":"Investment Group of Santa Barbara, LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Class B Common Stock","published_at":"2016-11-22T22:57:49.000Z","date":"2016-11-22","kind":"purchase","acquired":true,"shares":32377,"price":637826.9,"value":20650921541.3,"ownership":{"direct":false,"nature":"By IGSB IVP III"},"footnotes":[{"field":"derivative.exercise_date","element":"exerciseDate","label":"F1","text":"The shares of Class B Common Stock (\"Class B Shares\") do not have an expiration date.  Each Class B Share is convertible, at any time at the option of the holder, into one share of AppFolio's Class A Common Stock (the \"Class A Shares\").  In addition, Class B Shares that are transferred by the Reporting Person will convert automatically, on a one share-for-one share basis, into Class A Shares, except for (i) any transfer by a partnership or limited liability company that was a registered holder of Class B Shares prior to June 30, 2015 that is made to anyone who was a partner or member of any such partnership or limited liability company prior to June 30, 2015, and (ii) any transfer to a \"qualified recipient\" (as defined in AppFolio's Amended and Restated Certificate of Incorporation), such as the Reporting Person."},{"field":"derivative.exercise_date","element":"exerciseDate","label":"F2","text":"All of the outstanding Class B Shares will convert automatically into Class A Shares, on a one share-for-one share basis, on the date when the number of the Company's outstanding Class B Shares represents less than 10% of the sum of AppFolio's outstanding Class A and Class B Shares."},{"field":"derivative.expiration_date","element":"expirationDate","label":"F1","text":"The shares of Class B Common Stock (\"Class B Shares\") do not have an expiration date.  Each Class B Share is convertible, at any time at the option of the holder, into one share of AppFolio's Class A Common Stock (the \"Class A Shares\").  In addition, Class B Shares that are transferred by the Reporting Person will convert automatically, on a one share-for-one share basis, into Class A Shares, except for (i) any transfer by a partnership or limited liability company that was a registered holder of Class B Shares prior to June 30, 2015 that is made to anyone who was a partner or member of any such partnership or limited liability company prior to June 30, 2015, and (ii) any transfer to a \"qualified recipient\" (as defined in AppFolio's Amended and Restated Certificate of Incorporation), such as the Reporting Person."},{"field":"derivative.expiration_date","element":"expirationDate","label":"F2","text":"All of the outstanding Class B Shares will convert automatically into Class A Shares, on a one share-for-one share basis, on the date when the number of the Company's outstanding Class B Shares represents less than 10% of the sum of AppFolio's outstanding Class A and Class B Shares."},{"field":"balance_after","element":"sharesOwnedFollowingTransaction","label":"F3","text":"These Class B Shares are owned by IGSB IVP III LLC, a private investment fund (\"IVP III\"), which is managed by Investment Group of Santa Barbara LLC (\"IGSB\").  On November 22, 2016, the Reporting Person, who is a member of IVP III, indirectly purchased a total of 32,377 Class B Shares, by means of a purchase of an additional interest in IVP III from another of its members, for an aggregate purchase price of $637,826.90.  The Reporting Person also is one of the three members of IGSB and all decisions regarding the voting, conversion, transfer or other disposition of the Class B Shares owned by IVP III require the unanimous approval of all three members.  As a result, the Reporting Person may be deemed to share voting and dispositive power, with IGSB and its other two members, over the Class B Shares owned by IVP III.  However, the Reporting Person disclaims beneficial ownership of these shares, except to the extent of his pecuniary interest therein."},{"field":"ownership.direct","element":"directOrIndirectOwnership","label":"F3","text":"These Class B Shares are owned by IGSB IVP III LLC, a private investment fund (\"IVP III\"), which is managed by Investment Group of Santa Barbara LLC (\"IGSB\").  On November 22, 2016, the Reporting Person, who is a member of IVP III, indirectly purchased a total of 32,377 Class B Shares, by means of a purchase of an additional interest in IVP III from another of its members, for an aggregate purchase price of $637,826.90.  The Reporting Person also is one of the three members of IGSB and all decisions regarding the voting, conversion, transfer or other disposition of the Class B Shares owned by IVP III require the unanimous approval of all three members.  As a result, the Reporting Person may be deemed to share voting and dispositive power, with IGSB and its other two members, over the Class B Shares owned by IVP III.  However, the Reporting Person disclaims beneficial ownership of these shares, except to the extent of his pecuniary interest therein."}],"balance_after":3855275,"derivative":{"exercise_price":0,"underlying":"Class A Common Stock","underlying_shares":32377},"source":{"system":"sec-edgar","filing":"0000899243-16-034172","document":"doc4.xml","document_sequence":1,"table":"derivative","row_type":"transaction","position":1,"url":"https://www.sec.gov/Archives/edgar/data/938333/000089924316034172/doc4.xml","form_type":"4"}}]}