AppFolio enters new CEO employment agreement with Shane Trigg through 2030

APPFOLIO INC

Base salary increased to $570,000; target annual bonus remains 100% of base.
2026 equity: $5M RSU and $4.479M PSU grants; annual $5M RSU plus formula-based PSU for 2027–2030.
Severance: 18 months base salary/COBRA for non-cause termination; 24 months base plus 2x bonus upon Corporate Transaction.
Agreement effective April 9, 2026; supersedes prior March 2023 employment agreement.
Provides full vesting of equity awards upon death/disability; accelerated vesting for qualifying termination.

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