On January 12, 2022, William Rauth notified the Board of Directors of AppFolio, Inc. (the “Board”) of his intention to resign from his position as a member of the Board, effective January 13, 2022. In connection with his resignation from the Board, Mr. Rauth also resigned from the Compensation Committee of the Board. The decision by Mr. Rauth to resign was not the result of any disagreement with respect to the operations, policies, or practices of AppFolio, Inc. (the “Company”).
On January 13, 2022, in accordance with the Amended and Restated Bylaws of the Company, the Board elected Alex Wolf to serve on the Board as a Class II director. Mr. Wolf will serve as a member of the Board until the Company's 2023 annual meeting of stockholders or until his successor is elected and qualified. Mr. Wolf has been appointed to the Compensation Committee of the Board. Mr. Wolf has been a partner of Investment Group of Santa Barbara (“IGSB”) since 2015. He currently serves on the boards of directors of several privately held technology companies.
AppFolio, Inc. is a provider of cloud business management solutions for the real estate industry. Its solutions are designed to enable its customers to digitally transform their businesses and address critical operations. AppFolio solutions are designed to meet that need in the real estate industry. It helps its customers navigate an increasingly interconnected and growing network of stakeholders in their business ecosystems, including property owners, real estate investment managers, rental prospects, residents, and vendors, and provides key functionality related to critical transactions across the real estate lifecycle, including screening potential tenants, sending and receiving payments and providing insurance-related risk mitigation services. Its solutions include AppFolio, AppFolio Property Manager Core, AppFolio Property Manager Plus and AppFolio Property Manager Max. It also offers value-added services: electronic payment services, tenant screening services and risk mitigation.
APPFOLIO, INC. 
