Eaton Timothy Mathias

Eaton Timothy Mathias, Chief Financial Officer of AppFolio (APPF), has filed 43 Form 4 transactions over the past year, all in a single company. The pattern is heavily skewed toward compensation mechanics rather than discretionary trading: roughly $1.4 million in stock awards (code A) and a series of tax-withholding dispositions (code F) that are automatic consequences of vesting. The only open-market activity is selling—four transactions totaling approximately $469,000—with no purchases recorded at any point in the filing history. The most recent cluster of sales occurred on June 12, 2026, when Mathias executed three separate open-market sells worth $48,549, $271,555, and $30,932. Prior to that, he had sold $118,052 on November 24, 2025. The February 2026 award of $1.4 million in stock (code A) was immediately followed by a large tax-withholding event of $174,366, a standard pattern for equity compensation. The May and February 2026 F-code transactions, ranging from roughly $3,800 to $52,500 each, reflect routine share surrenders to cover tax obligations on vested units. The aggregate picture is unambiguous: Mathias has acquired $1.4 million in stock exclusively through company grants, sold $653,566 in open-market transactions, and never purchased shares with personal funds. The selling is modest relative to the compensation flow, and the timing—clustered around vesting dates—suggests portfolio management rather than conviction-based exits. For shareholders monitoring insider behavior, the absence of any open-market buying is notable, but the sales are small enough to be consistent with routine liquidity needs.