APPFOLIO INC 8-K

What Happened AppFolio, Inc. filed a Form 8-K (Item 5.02) on January 15, 2026 reporting that on January 12, 2026 its Board decreased from nine to seven directors and, effective February 12, 2026, elected Saori Casey as a Class II director to fill the vacancy. Ms. Casey will serve until the 2026 Annual Meeting and has been determined by the Board to be an independent director under Nasdaq and SEC rules.

Key Details

• Board size reduced from nine to seven directors as of January 12, 2026.
• Saori Casey elected effective February 12, 2026; term ends at the 2026 Annual Meeting (or until successor qualifies).
• Ms. Casey is currently CFO of Sonos, Inc. (since Jan 2024); formerly VP of Financial Planning & Analysis and Investor Relations at Apple (Jul 2011–Dec 2023) and spent 15 years in finance roles at Cisco.
• She will receive the same cash and equity compensation as other non-employee directors per AppFolio’s 2025 proxy and will enter the company’s standard indemnification agreement. No related-party arrangements required disclosure under Item 404(a).

Why It Matters Board composition and director independence are governance factors investors watch. The appointment brings a finance and investor-relations background (large-cap tech and consumer electronics experience) to AppFolio’s board, without changes to director pay or any disclosed related-party arrangements. The change may affect board oversight and experience mix, but the filing contains no operational or financial disclosures beyond the governance update.