AppFolio, Inc. (NASDAQ:APPF) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

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AppFolio, Inc. (NASDAQ:APPF) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Long-Term Equity Incentive Awards >
On May 18, 2017, the Board of Directors (the “Board”), upon recommendation of the Compensation Committee of the Board of AppFolio, Inc. (the “Company”), approved the grant of incentive stock options under the Company’s 2015 Stock Incentive Plan to Ida Kane, the Company’s Chief Financial Officer, and Jason Randall, SVP, AppFolio Property Manager, each in the amount of 20,000 shares (the “Performance Options”). The Performance Options were granted with an exercise price equal to the closing price of the Company’s Class A Common Stock on the NASDAQ Global Market on the date of grant, and are exercisable for shares of Class A Common Stock.
The actual number of Performance Options that are subject to vesting, if any, will be determined by reference to the Company’s achievement relative to pre-established “adjusted gross margin” targets for fiscal year 2019. 50% of the Performance Options will vest based on the achievement of a specified targeted amount, and the remaining 50% will vest based on the achievement of a specified higher amount.

About AppFolio, Inc. (NASDAQ:APPF)

AppFolio, Inc. is a provider of industry-specific, cloud-based software solutions for small and medium-sized businesses (SMBs) in the property management and legal industries. The Company’s mobile-optimized software solutions enable its customers to work at any time and from anywhere across multiple devices. Its property management software provides small and medium-sized property managers with an end-to-end solution to their business needs. The Company’s legal software provides solo practitioners and small law firms with a streamlined practice and case management solution, allowing them to manage their practices and case load. It also offers Value+ services, such as its professionally designed Websites and electronic payment services. The Company’s property manager customers include third-party managers and owner-operators, managing single- and multi-family residences, commercial property and student housing, as well as mixed real estate portfolios.

AppFolio, Inc. (NASDAQ:APPF) Recent Trading Information

AppFolio, Inc. (NASDAQ:APPF) closed its last trading session down -0.10 at 27.85 with 42,721 shares trading hands.