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<div><a name="s970AA6EF7C2B506F88E27345B730A215"></a></div><div><div style="line-height:120%;text-align:left;font-size:11.5pt;"><font style="font-family:inherit;font-size:11.5pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:8px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;background-color:#ffffff;font-weight:bold;">As filed with the Securities and Exchange Commission on March 2, 2020</font></div><div style="line-height:120%;padding-bottom:16px;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;background-color:#ffffff;font-weight:bold;">Registration No. 333-</font></div><div style="line-height:120%;"><hr></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;background-color:#ffffff;font-weight:bold;">UNITED STATES</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;background-color:#ffffff;font-weight:bold;">SECURITIES AND EXCHANGE COMMISSION</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;background-color:#ffffff;font-weight:bold;">WASHINGTON D.C. 20549</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:18pt;"><font style="font-family:inherit;font-size:18pt;background-color:#ffffff;font-weight:bold;">FORM S&#8209;8</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;background-color:#ffffff;font-style:italic;font-weight:bold;">REGISTRATION STATEMENT</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;background-color:#ffffff;font-style:italic;font-weight:bold;">UNDER</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;background-color:#ffffff;font-style:italic;font-weight:bold;">THE SECURITIES ACT OF 1933</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:18pt;"><font style="font-family:inherit;font-size:18pt;background-color:#ffffff;font-weight:bold;">AppFolio, Inc.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;padding-left:48px;text-indent:-48px;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;background-color:#ffffff;">(Exact name of registrant as specified in its charter)</font></div><div style="line-height:120%;font-size:9pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:50%;"></td><td style="width:50%;"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;background-color:#ffffff;font-weight:bold;">Delaware</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;background-color:#ffffff;font-weight:bold;">26-0359894</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;background-color:#ffffff;">(State or other jurisdiction of <br>incorporation or organization)</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;background-color:#ffffff;">(I.R.S. Employer <br>Identification No.)</font></div></td></tr></table></div></div><div style="line-height:120%;padding-top:16px;text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;background-color:#ffffff;font-weight:bold;">50 Castilian Drive</font></div><div style="line-height:120%;text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;background-color:#ffffff;font-weight:bold;">Santa Barbara, California 93117</font></div><div style="line-height:120%;text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;background-color:#ffffff;font-weight:bold;">(805) 364-6093</font></div><div style="line-height:120%;text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;background-color:#ffffff;">(Address of principal executive offices)</font></div><div style="line-height:120%;padding-top:16px;text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;background-color:#ffffff;font-weight:bold;">AppFolio, Inc. 2015 Stock Incentive Plan</font></div><div style="line-height:120%;text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;background-color:#ffffff;">(Full title of the Plan)</font></div><div style="line-height:120%;text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;background-color:#ffffff;font-weight:bold;">Ida Kane </font></div><div style="line-height:120%;text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;background-color:#ffffff;font-weight:bold;">Chief Financial Officer</font></div><div style="line-height:120%;text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;background-color:#ffffff;font-weight:bold;">AppFolio, Inc.</font></div><div style="line-height:120%;text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;background-color:#ffffff;font-weight:bold;">50 Castilian Drive</font></div><div style="line-height:120%;text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;background-color:#ffffff;font-weight:bold;">Santa Barbara, California 93117</font></div><div style="line-height:120%;text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;background-color:#ffffff;font-weight:bold;">(805) 364-6093 </font></div><div style="line-height:120%;text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;background-color:#ffffff;">(Name and address of agent for service)</font></div><div style="line-height:120%;padding-bottom:16px;padding-top:16px;text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;background-color:#ffffff;font-style:italic;font-weight:bold;">Copies to:</font></div><div style="line-height:120%;text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;background-color:#ffffff;font-weight:bold;">Ryan C. Wilkins, Esq.</font></div><div style="line-height:120%;text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;background-color:#ffffff;font-weight:bold;">Stradling Yocca Carlson &amp; Rauth, P.C.</font></div><div style="line-height:120%;text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;background-color:#ffffff;font-weight:bold;">660 Newport Center Drive</font></div><div style="line-height:120%;text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;background-color:#ffffff;font-weight:bold;">Newport Beach, California 92660</font></div><div style="line-height:120%;text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;background-color:#ffffff;font-weight:bold;">(949) 725-4000</font></div><div style="line-height:120%;padding-bottom:16px;padding-top:16px;text-align:left;font-size:11.5pt;"><font style="font-family:inherit;font-size:9pt;background-color:#ffffff;">Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company.&#160;See the definitions of &#8220;large accelerated filer,&#8221; &#8220;accelerated filer,&#8221; &#8220;smaller reporting company,&#8221; and "emerging growth company" in Rule&#160;12b-2 of the Exchange Act.</font><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:98.71794871794873%;border-collapse:collapse;text-align:left;"><tr><td colspan="4"></td></tr><tr><td style="width:20%;"></td><td style="width:42%;"></td><td style="width:25%;"></td><td style="width:13%;"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Large&#160;accelerated&#160;filer</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-top:2px;font-size:11.5pt;"><font style="font-family:Wingdings;font-size:11.5pt;">&#254;</font><font style="font-family:inherit;font-size:9pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Accelerated filer</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:11.5pt;"><font style="font-family:Wingdings;font-size:11.5pt;">&#168;</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Non-accelerated filer</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:11.5pt;"><font style="font-family:Wingdings;font-size:11.5pt;">&#168;</font><font style="font-family:inherit;font-size:9pt;">&#160;(Do not check if a smaller reporting company)</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Smaller reporting company</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11.5pt;"><font style="font-family:Wingdings;font-size:11.5pt;">&#168;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Emerging growth company</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:11.5pt;"><font style="font-family:Wingdings;font-size:11.5pt;">&#168;</font></div></td></tr></table></div><font style="font-family:inherit;font-size:8pt;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section&#160;7(a)(2)(B) of the Securities Act</font><font style="font-family:inherit;font-size:8pt;background-color:#ffffff;">.</font><font style="font-family:inherit;font-size:8pt;background-color:#ffffff;">&#32;</font><font style="font-family:Wingdings;font-size:8pt;background-color:#ffffff;">&#168;</font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;text-align:left;font-size:11.5pt;"><font style="font-family:inherit;font-size:11.5pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;padding-top:16px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;background-color:#ffffff;font-weight:bold;">CALCULATION OF REGISTRATION FEE</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="12"></td></tr><tr><td style="width:41%;"></td><td style="width:13%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:13%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:13%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:13%;"></td><td style="width:1%;"></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #00000a;padding-left:2px;padding-top:8px;padding-bottom:2px;padding-right:2px;border-right:1px solid #00000a;border-top:3px double #00000a;"><div style="padding-bottom:2px;text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;background-color:#ffffff;font-weight:bold;">Title of Securities to be Registered</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #00000a;border-right:1px solid #00000a;border-top:3px double #00000a;"><div style="padding-bottom:2px;padding-top:8px;text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;background-color:#ffffff;font-weight:bold;">Amount to be Registered</font><font style="font-family:inherit;font-size:9pt;background-color:#ffffff;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;background-color:#ffffff; font-size:6pt">(1)(2)</sup></font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #00000a;border-right:1px solid #00000a;border-top:3px double #00000a;"><div style="padding-bottom:2px;padding-top:8px;text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;background-color:#ffffff;font-weight:bold;">Proposed Maximum Offering Price Per Share</font><font style="font-family:inherit;font-size:9pt;background-color:#ffffff;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;background-color:#ffffff; font-size:6pt">(3)</sup></font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:8px;padding-bottom:2px;padding-right:2px;border-left:1px solid #00000a;border-right:1px solid #00000a;border-top:3px double #00000a;"><div style="padding-bottom:2px;text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;background-color:#ffffff;font-weight:bold;">Proposed Maximum Aggregate Offering Price</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:8px;padding-bottom:2px;padding-right:2px;border-left:1px solid #00000a;border-top:3px double #00000a;"><div style="padding-bottom:2px;text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;background-color:#ffffff;font-weight:bold;">Amount of Registration Fee</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="padding-bottom:2px;text-align:left;padding-left:14px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Class A common stock, par value $0.0001 per share, to be issued under the AppFolio, Inc.  2015 Stock Incentive Plan</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;border-left:1px solid #00000a;border-top:1px solid #00000a;"><div style="padding-bottom:2px;padding-top:8px;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">48,872</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #00000a;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;border-left:1px solid #00000a;border-top:1px solid #00000a;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #00000a;padding-top:2px;padding-bottom:2px;border-top:1px solid #00000a;"><div style="padding-bottom:2px;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$127.28</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #00000a;border-top:1px solid #00000a;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;border-left:1px solid #00000a;border-top:1px solid #00000a;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #00000a;padding-top:2px;padding-bottom:2px;border-top:1px solid #00000a;"><div style="padding-bottom:2px;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$6,220,428</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #00000a;border-top:1px solid #00000a;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;border-left:1px solid #00000a;border-top:1px solid #00000a;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #00000a;padding-top:2px;padding-bottom:2px;border-top:1px solid #00000a;"><div style="padding-bottom:2px;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$807.41</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #00000a;border-top:1px solid #00000a;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:top;border-bottom:3px double #00000a;padding-left:2px;padding-top:2px;padding-bottom:4px;padding-right:2px;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="padding-bottom:4px;text-align:left;padding-left:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;background-color:#ffffff;font-weight:bold;">TOTAL</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #00000a;padding-left:2px;padding-top:2px;padding-bottom:4px;border-left:1px solid #00000a;border-top:1px solid #00000a;"><div style="padding-bottom:4px;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">48,872</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #00000a;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:3px double #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #00000a;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #00000a;padding-left:2px;padding-top:2px;padding-bottom:4px;border-left:1px solid #00000a;border-top:1px solid #00000a;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:3px double #00000a;padding-top:2px;padding-bottom:4px;border-top:1px solid #00000a;"><div style="padding-bottom:4px;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">$6,220,428</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #00000a;border-top:1px solid #00000a;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:3px double #00000a;padding-left:2px;padding-top:2px;padding-bottom:4px;border-left:1px solid #00000a;border-top:1px solid #00000a;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:3px double #00000a;padding-top:2px;padding-bottom:4px;border-top:1px solid #00000a;"><div style="padding-bottom:4px;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">$807.41</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #00000a;border-top:1px solid #00000a;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr></table></div></div><table cellpadding="0" cellspacing="0" style="padding-top:16px;padding-bottom:16px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:29px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;background-color:#ffffff;">(1)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;background-color:#ffffff;">Pursuant to Rule 416(a) under the Securities Act of 1933, as amended (the &#8220;</font><font style="font-family:inherit;font-size:10pt;background-color:#ffffff;font-style:italic;font-weight:bold;">Securities Act</font><font style="font-family:inherit;font-size:10pt;background-color:#ffffff;">&#8221;), this Registration Statement shall also cover any additional shares of the registrant&#8217;s Class A common stock that become issuable under the AppFolio, Inc. 2015 Stock Incentive Plan (the &#8220;</font><font style="font-family:inherit;font-size:10pt;background-color:#ffffff;font-style:italic;font-weight:bold;">2015 Plan</font><font style="font-family:inherit;font-size:10pt;background-color:#ffffff;">&#8221;) by reason of any stock dividend, stock split, recapitalization or other similar transaction effected without receipt of consideration that increases the number of outstanding shares of the Class A common stock, par value $0.0001 per share, of the registrant (the &#8220;</font><font style="font-family:inherit;font-size:10pt;background-color:#ffffff;font-style:italic;font-weight:bold;">Class A Common Stock</font><font style="font-family:inherit;font-size:10pt;background-color:#ffffff;">&#8221;).</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:16px;padding-bottom:16px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:29px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;background-color:#ffffff;">(2)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;background-color:#ffffff;">Represents additional shares of the Class A Common Stock that were automatically added to the number of shares of the Class A Common Stock reserved for issuance under the 2015 Plan, pursuant to an evergreen provision contained therein.  See &#8220;</font><font style="font-family:inherit;font-size:10pt;background-color:#ffffff;font-style:italic;">Explanatory Note</font><font style="font-family:inherit;font-size:10pt;background-color:#ffffff;">&#8221; for additional information.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:16px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:29px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;background-color:#ffffff;">(3)</font></div></td><td style="vertical-align:top;padding-left:1.3333333333333333px;"><div style="line-height:120%;text-align:justify;font-size:10pt;text-indent:-1.3333333333333333px;"><font style="font-family:inherit;font-size:10pt;background-color:#ffffff;">Estimated in accordance with Rules 457(c) and</font><font style="font-family:inherit;font-size:10pt;">&#32;</font><font style="font-family:inherit;font-size:10pt;">457(h) under the Securities Act solely for the purpose of calculating the registration fee on the basis of </font><font style="font-family:inherit;font-size:10pt;">$127.28</font><font style="font-family:inherit;font-size:10pt;">&#32;per share, which is the average of the high and low prices of the Class A Common Stock as reported on the NASDAQ Global Market on February&#160;25, 2020.</font></div></td></tr></table><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;text-align:left;font-size:11.5pt;"><font style="font-family:inherit;font-size:11.5pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">EXPLANATORY NOTE</font></div><div style="line-height:120%;padding-bottom:32px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">This Registration Statement on Form S-8 (this &#8220;</font><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Registration Statement</font><font style="font-family:inherit;font-size:10pt;">&#8221;) registers additional shares of the Class A common stock, par value $0.0001 per share, of the registrant (the &#8220;</font><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Class A Common Stock</font><font style="font-family:inherit;font-size:10pt;">&#8221;) under the AppFolio, Inc. 2015 Stock Incentive Plan (the &#8220;</font><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">2015 Plan</font><font style="font-family:inherit;font-size:10pt;">&#8221;).  The number of shares of the Class A Common Stock available for issuance under the 2015 Plan is subject to an automatic annual increase on January 1 of each calendar year, beginning in 2016 and continuing through 2025, in an amount equal to the lesser of (i) the number of shares of the Class A Common Stock subject to awards granted under the 2015 Plan during the immediately preceding calendar year, or (ii) the number of shares of the Class A Common Stock determined by the registrant&#8217;s board of directors (the &#8220;</font><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Board</font><font style="font-family:inherit;font-size:10pt;">&#8221;).  The number of shares of the Class A Common Stock subject to awards granted under the 2015 Plan during 2019 was </font><font style="font-family:inherit;font-size:10pt;">48,872</font><font style="font-family:inherit;font-size:10pt;">, and the Board did not recommend a lesser amount of shares.  As a result, on January 1, 2020, the number of shares of the Class A Common Stock available for issuance under the 2015 Plan increased by </font><font style="font-family:inherit;font-size:10pt;">48,872</font><font style="font-family:inherit;font-size:10pt;">.  This Registration Statement registers these additional shares of the Class A Common Stock, which are in addition to the shares of Class A Common Stock registered on the registrant's Form S-8 filed on August 6, 2015 (File No. 333-206179), Form S-8 filed on February 29, 2016 (File No. 333-209792), Form S-8 filed on February 27, 2017 (File No. 333-216274), Form S-8 filed on February 26, 2018 (File No. 333-223231) and Form S-8 filed on February 28, 2019 (File No. 333-229970).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">PART I</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS</font></div><div style="line-height:120%;padding-bottom:32px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The information specified in Item 1 and Item 2 of Part I of Form S-8 is omitted from this Registration Statement in accordance with the provisions of Rule 428 under the Securities Act of 1933, as amended (the&#160;&#8220;</font><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Securities Act</font><font style="font-family:inherit;font-size:10pt;">&#8221;), and the introductory note to Part I of Form S-8. The documents containing the information specified in Part I of Form S-8 will be delivered to the participants in the equity incentive plan covered by this Registration Statement as specified by Rule 428(b)(1) under the Securities Act.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">PART II</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">INFORMATION REQUIRED IN THE REGISTRATION STATEMENT </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Item 3.&#160;&#160;&#160;&#160;Incorporation of Documents by Reference.</font><font style="font-family:inherit;font-size:10pt;">&#32;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following documents, which have been filed by the registrant with the Securities and Exchange Commission (the &#8220;</font><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Commission</font><font style="font-family:inherit;font-size:10pt;">&#8221;), are hereby incorporated by reference herein, and shall be deemed to be a part of, this Registration Statement:</font></div><table cellpadding="0" cellspacing="0" style="padding-bottom:16px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:48px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">the Annual Report on Form 10-K relating to the fiscal year ended&#160;December 31, 2019, filed with the Commission on March 2, 2020 (the "</font><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Annual Report</font><font style="font-family:inherit;font-size:10pt;">"), pursuant to Section 13(a) of the Securities Exchange Act of 1934, as amended (the &#8220;</font><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Exchange Act</font><font style="font-family:inherit;font-size:10pt;">&#8221;);</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:16px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:48px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">the Definitive Proxy Statement on Schedule 14A relating to the registrant&#8217;s 2019 Annual Meeting of Stockholders, filed with the Commission on April 1, 2019, all other reports filed by the registrant pursuant to Section 13(a) or 15(d) of the Exchange Act since the end of the fiscal year covered by the Annual Report; and</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:16px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:48px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">the description of the Class A Common Stock contained in the Registration Statement on Form 8-A (File No. 001-37468) filed with the Commission on June 23, 2015, pursuant to Section 12(b) of the Exchange Act, and any amendment or report filed for the purpose of updating such description.</font></div></td></tr></table><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In addition, all documents filed by the registrant pursuant to Section 13(a), 13(c), 14 or 15(d) of the Exchange Act after the date of this Registration Statement and prior to the filing of a post-effective amendment, which indicates </font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;text-align:left;font-size:11.5pt;"><font style="font-family:inherit;font-size:11.5pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">that all securities offered have been sold, or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference in this Registration Statement and to be a part of it from the respective dates of filing such documents; except as to any portion of any future annual, quarterly or current report or other document, or any portion thereof, that is deemed furnished and not deemed filed under such provisions. Any statement contained in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for the purposes of this Registration Statement to the extent that a statement contained herein or in any other subsequently filed document, which also is or is deemed to be incorporated by reference herein, modifies or supersedes such statement. Any statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Item 4.&#160;&#160;&#160;&#160;Description of Securities.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Not applicable.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Item 5.&#160;&#160;&#160;&#160;Interests of Named Experts and Counsel.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Not applicable.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Item 6.&#160;&#160;&#160;&#160;Indemnification of Directors and Officers.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The registrant is incorporated under the laws of the State of Delaware. Section 145 of the </font><font style="font-family:inherit;font-size:10pt;background-color:#ffffff;">Delaware General Corporation Law (the &#8220;</font><font style="font-family:inherit;font-size:10pt;background-color:#ffffff;font-style:italic;font-weight:bold;">DGCL</font><font style="font-family:inherit;font-size:10pt;background-color:#ffffff;">&#8221;)</font><font style="font-family:inherit;font-size:10pt;">&#32;</font><font style="font-family:inherit;font-size:10pt;">provides that a Delaware corporation may indemnify any persons who are, or are threatened to be made, parties to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative (other than an action by or in the right of such corporation), by reason of the fact that such person is or was an officer, director, employee or agent of such corporation, or is or was serving at the request of such corporation as an officer, director, employee or agent of another corporation or enterprise. The indemnity may include expenses (including attorneys&#8217; fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by such person in connection with such action, suit or proceeding, provided that such person acted in good faith and in a manner he or she reasonably believed to be in or not opposed to the corporation&#8217;s best interests and, with respect to any criminal action or proceeding, had no reasonable cause to believe that his or her conduct was illegal. Section 145 of the DGCL further authorizes a corporation to purchase and maintain insurance on behalf of any indemnified person against any liability asserted against and incurred by such person in any indemnified capacity, or arising out of such person&#8217;s status as such, regardless of whether the corporation would otherwise have the power to indemnify such person under the DGCL.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Section 102(b)(7) of the DGCL permits a corporation to provide in its certificate of incorporation that a director of the corporation will not be personally liable to the corporation or its stockholders for monetary damages for breach of fiduciary duties as a director, except for liability for any:</font></div><table cellpadding="0" cellspacing="0" style="padding-bottom:16px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">breach of a director&#8217;s duty of loyalty to the corporation or its stockholders;</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:16px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">act or omission not in good faith or that involves intentional misconduct or a knowing violation of law;</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:16px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">unlawful payment of dividends or redemption of shares; or</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:16px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">transaction from which the director derives an improper personal benefit.</font></div></td></tr></table><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The registrant&#8217;s amended and restated certificate of incorporation authorizes the registrant to, and the registrant&#8217;s amended and restated bylaws provide that it must, indemnify the registrant&#8217;s directors and officers to the fullest extent authorized by the DGCL and also pay expenses incurred in defending any such proceeding in advance of its final disposition upon delivery of an undertaking, by or on behalf of an indemnified person, to repay all amounts so advanced if it should be determined ultimately that such person is not entitled to be indemnified under the DGCL or otherwise.</font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;text-align:left;font-size:11.5pt;"><font style="font-family:inherit;font-size:11.5pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">As permitted by the DGCL, the registrant has entered into indemnification agreements with each of its directors and executive officers. These agreements require the registrant to indemnify these individuals to the fullest extent permitted under Delaware law against liabilities that may arise by reason of their service to the registrant, and to advance expenses incurred as a result of any proceeding against them as to which they could be indemnified.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The registrant has an insurance policy covering its directors and executive officers with respect to certain liabilities, including liabilities arising under the Securities Act and otherwise.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Item 7.&#160;&#160;&#160;&#160;Exemption from Registration Claimed.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Not applicable.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Item 8</font><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">.&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Exhibits.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">A list of exhibits filed with this Registration Statement is set forth in the Exhibit Index hereto and is incorporated herein by reference.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Item 9.&#160;&#160;&#160;&#160;Undertakings.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(a)&#160;&#160;&#160;&#160;The undersigned registrant hereby undertakes: </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(1)&#160;&#160;&#160;&#160;To file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement: </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:96px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(i)&#160;&#160;&#160;&#160;To include any prospectus required by section 10(a)(3) of the Securities Act; </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:96px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(ii)&#160;&#160;&#160;&#160;To reflect in the prospectus any facts or events arising after the effective date of the Registration Statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the Registration Statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than a 20% change in the maximum aggregate offering price set forth in the "Calculation of Registration Fee" table in the effective Registration Statement; and </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:96px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(iii)&#160;&#160;&#160;&#160;To include any material information with respect to the plan of distribution not previously disclosed in the Registration Statement or any material change to such information in the Registration Statement; </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">provided, however</font><font style="font-family:inherit;font-size:10pt;">, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the Commission by the registrant pursuant to section 13 or section 15(d) of the Exchange Act that are incorporated by reference in the Registration Statement. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(2)&#160;&#160;&#160;&#160;That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new Registration Statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">bona fide</font><font style="font-family:inherit;font-size:10pt;">&#32;offering thereof. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(3)&#160;&#160;&#160;&#160;To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering. </font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">5</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;text-align:left;font-size:11.5pt;"><font style="font-family:inherit;font-size:11.5pt;"><br></font></div></div><div><br></div><table cellpadding="0" cellspacing="0" style="padding-bottom:16px;font-family:Times New Roman; 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style="font-family:inherit;font-size:10pt;">6</font></div></div><hr style="page-break-after:always"><div><a name="sE055980E2A6B589F9E4FCF71435100E8"></a></div><div><div style="line-height:120%;text-align:left;font-size:11.5pt;"><font style="font-family:inherit;font-size:11.5pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:13px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">SIGNATURES</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Pursuant to the requirements of the Securities Act, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized in Santa Barbara, California, on </font><font style="font-family:inherit;font-size:10pt;">March&#160;2, 2020</font><font style="font-family:inherit;font-size:10pt;">.</font></div><div style="line-height:120%;padding-bottom:13px;text-align:center;padding-left:288px;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:53.84615384615385%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:12%;"></td><td style="width:88%;"></td></tr><tr><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">APPFOLIO, INC.</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">By:</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">/s/ Ida Kane</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Ida Kane</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Chief Financial Officer</font></div></td></tr></table></div></div><div><br></div><hr style="page-break-after:always"><div><div style="line-height:120%;text-align:left;font-size:11.5pt;"><font style="font-family:inherit;font-size:11.5pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:18px;text-align:left;padding-left:312px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:13px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">POWER OF ATTORNEY</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">KNOW ALL PERSONS BY THESE PRESENTS that each individual whose signature appears below constitutes and appoints Jason Randall and Ida Kane, and each or either of them, acting individually, his or her true and lawful attorney-in-fact and agent, with full power of substitution, for him or her and in his or her name, place and stead, in any and all capacities, to sign any and all amendments (including post-effective amendments) to this Registration Statement, and to file the same, with all exhibits thereto and other documents in connection therewith, with the Commission, granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform each and every act and thing requisite and necessary to be done in connection therewith, as fully to all intents and purposes as he or she might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, or either of them, or his, 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style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">/s/ Andreas von Blottnitz</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Chairman of the Board</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">March&#160;2, 2020</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Andreas von Blottnitz</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">/s/ Timothy Bliss</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Director</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">March&#160;2, 2020</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Timothy Bliss</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">/s/ Janet Kerr</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Director</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">March&#160;2, 2020</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Janet Kerr</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">/s/ James Peters</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Director</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">March&#160;2, 2020</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">James Peters</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">/s/ William Rauth</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Director</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">March 2, 2020</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">William Rauth</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">/s/ Klaus Schauser</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Chief Strategist and Director</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">March 2, 2020</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Klaus Schauser</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br>/s/ Winifred Webb</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br>Director</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">March 2, 2020</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Winifred Webb</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div><br></div><hr style="page-break-after:always"><div><a name="sF1AEB5D6F531598B9355CC36537C1BCC"></a></div><div><div style="line-height:120%;text-align:left;font-size:11.5pt;"><font style="font-family:inherit;font-size:11.5pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:center;-sec-extract:summary;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">EXHIBIT INDEX</font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:10%;"></td><td style="width:90%;"></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-bottom:2px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Exhibit Number</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-bottom:2px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Description</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:4px;padding-right:2px;"><div style="padding-bottom:4px;text-align:left;padding-left:6px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4.1</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-bottom:4px;text-align:left;font-size:10pt;"><a style="text-decoration:underline;color:#0000FF;-sec-extract:exhibit;" href="http://www.sec.gov/Archives/edgar/data/1433195/000119312515213095/d907976dex41.htm"><font style="font-family:inherit;font-size:10pt;">Specimen Certificate for Class A Common Stock (incorporated by reference to Exhibit 4.1 to the Registration Statement on Form S-1 (File No. 333-204262), which was initially filed with the Commission on May 18, 2015).</font></a></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:4px;padding-right:2px;"><div style="padding-bottom:4px;text-align:left;padding-left:6px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4.2</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-bottom:4px;text-align:left;font-size:10pt;"><a style="text-decoration:underline;color:#0000FF;-sec-extract:exhibit;" href="http://www.sec.gov/Archives/edgar/data/1433195/000143319515000003/exhibit3163015.htm"><font style="font-family:inherit;font-size:10pt;">Amended and Restated Certificate of Incorporation of the registrant, as currently in effect (incorporated by reference to Exhibit 3.1 to the Quarterly Report on Form 10-Q relating to the quarterly period ended June 30, 2015, filed with the Commission on August 6, 2015).</font></a></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:4px;padding-right:2px;"><div style="padding-bottom:4px;text-align:left;padding-left:6px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4.3</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-bottom:4px;text-align:left;font-size:10pt;"><a style="text-decoration:underline;color:#0000FF;-sec-extract:exhibit;" href="http://www.sec.gov/Archives/edgar/data/1433195/000143319515000003/exhibit3263015.htm"><font style="font-family:inherit;font-size:10pt;">Amended and Restated Bylaws of the registrant, as currently in effect (incorporated by reference to Exhibit 3.2 to the Quarterly Report on Form 10-Q relating to the quarterly period ended June 30, 2015, filed with the Commission on August 6, 2015).</font></a></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:4px;padding-right:2px;"><div style="padding-bottom:4px;text-align:left;padding-left:6px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4.4</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-bottom:4px;text-align:left;font-size:10pt;"><a style="text-decoration:underline;color:#0000FF;-sec-extract:exhibit;" href="http://www.sec.gov/Archives/edgar/data/1433195/000119312515191809/d907976dex104.htm"><font style="font-family:inherit;font-size:10pt;">2015 Stock Incentive Plan and related forms of agreements (incorporated by reference to Exhibit&#160;10.4 to the Registration Statement on Form S-1 (File No. 333-204262), which was initially filed with the Commission on May 18, 2015).</font></a></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:4px;padding-right:2px;"><div style="padding-bottom:4px;text-align:left;padding-left:6px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">5.1*</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-bottom:4px;text-align:left;font-size:10pt;"><a style="text-decoration:underline;color:#0000FF;-sec-extract:exhibit;" href="appfolio51s-8opinionform32.htm"><font style="font-family:inherit;font-size:10pt;">Opinion of Stradling Yocca Carlson &amp; Rauth, P.C.</font></a></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:4px;padding-right:2px;"><div style="padding-bottom:4px;text-align:left;padding-left:6px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">23.1*</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-bottom:4px;text-align:left;font-size:10pt;"><a style="text-decoration:underline;color:#0000FF;-sec-extract:exhibit;" href="exhibit231consentofpwc3220.htm"><font style="font-family:inherit;font-size:10pt;">Consent of independent registered public accounting firm.</font></a></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:4px;padding-right:2px;"><div style="padding-bottom:4px;text-align:left;padding-left:6px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">23.2*</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-bottom:4px;text-align:left;font-size:10pt;"><a style="text-decoration:underline;color:#0000FF;-sec-extract:exhibit;" href="appfolio51s-8opinionform32.htm"><font style="font-family:inherit;font-size:10pt;">Consent of Stradling Yocca Carlson &amp; Rauth, P.C. (included in Exhibit 5.1 hereto).</font></a></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:4px;padding-right:2px;"><div style="padding-bottom:4px;text-align:left;padding-left:6px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">24.1*</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-bottom:4px;text-align:left;font-size:10pt;"><a style="font-family:inherit;font-size:10pt;" href="#sE055980E2A6B589F9E4FCF71435100E8"><font style="font-family:inherit;font-size:10pt;">Power of Attorney (included on signature page hereto).</font></a></div></td></tr></table></div></div><div style="line-height:120%;text-align:left;text-indent:240px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;padding-top:8px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">*&#160;Filed herewith.</font></div><div><br></div>	</div></body>
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Document
As filed with the Securities and Exchange Commission on March 2, 2020
Registration No. 333-
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON D.C. 20549
FORM S‑8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
AppFolio, Inc.
(Exact name of registrant as specified in its charter)
Delaware
26-0359894
(State or other jurisdiction of
incorporation or organization)
(I.R.S. Employer
Identification No.)
50 Castilian Drive
Santa Barbara, California 93117
(805) 364-6093
(Address of principal executive offices)
AppFolio, Inc. 2015 Stock Incentive Plan
(Full title of the Plan)
Ida Kane
Chief Financial Officer
AppFolio, Inc.
50 Castilian Drive
Santa Barbara, California 93117
(805) 364-6093
(Name and address of agent for service)
Copies to:
Ryan C. Wilkins, Esq.
Stradling Yocca Carlson & Rauth, P.C.
660 Newport Center Drive
Newport Beach, California 92660
(949) 725-4000
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.
Large accelerated filer
þ
Accelerated filer
¨
Non-accelerated filer
¨
(Do not check if a smaller reporting company)
Smaller reporting company
¨
Emerging growth company
¨
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act
.
¨
1
CALCULATION OF REGISTRATION FEE
Title of Securities to be Registered
Amount to be Registered
(1)(2)
Proposed Maximum Offering Price Per Share
(3)
Proposed Maximum Aggregate Offering Price
Amount of Registration Fee
Class A common stock, par value $0.0001 per share, to be issued under the AppFolio, Inc.  2015 Stock Incentive Plan
48,872
$127.28
$6,220,428
$807.41
TOTAL
48,872
$6,220,428
$807.41
(1)
Pursuant to Rule 416(a) under the Securities Act of 1933, as amended (the "
Securities Act
"), this Registration Statement shall also cover any additional shares of the registrant's Class A common stock that become issuable under the AppFolio, Inc. 2015 Stock Incentive Plan (the "
2015 Plan
") by reason of any stock dividend, stock split, recapitalization or other similar transaction effected without receipt of consideration that increases the number of outstanding shares of the Class A common stock, par value $0.0001 per share, of the registrant (the "
Class A Common Stock
").
(2)
Represents additional shares of the Class A Common Stock that were automatically added to the number of shares of the Class A Common Stock reserved for issuance under the 2015 Plan, pursuant to an evergreen provision contained therein.  See "
Explanatory Note
" for additional information.
(3)
Estimated in accordance with Rules 457(c) and
457(h) under the Securities Act solely for the purpose of calculating the registration fee on the basis of
$127.28
per share, which is the average of the high and low prices of the Class A Common Stock as reported on the NASDAQ Global Market on February 25, 2020.
2
EXPLANATORY NOTE
This Registration Statement on Form S-8 (this "
Registration Statement
") registers additional shares of the Class A common stock, par value $0.0001 per share, of the registrant (the "
Class A Common Stock
") under the AppFolio, Inc. 2015 Stock Incentive Plan (the "
2015 Plan
").  The number of shares of the Class A Common Stock available for issuance under the 2015 Plan is subject to an automatic annual increase on January 1 of each calendar year, beginning in 2016 and continuing through 2025, in an amount equal to the lesser of (i) the number of shares of the Class A Common Stock subject to awards granted under the 2015 Plan during the immediately preceding calendar year, or (ii) the number of shares of the Class A Common Stock determined by the registrant's board of directors (the "
Board
").  The number of shares of the Class A Common Stock subject to awards granted under the 2015 Plan during 2019 was
48,872
, and the Board did not recommend a lesser amount of shares.  As a result, on January 1, 2020, the number of shares of the Class A Common Stock available for issuance under the 2015 Plan increased by
48,872
.  This Registration Statement registers these additional shares of the Class A Common Stock, which are in addition to the shares of Class A Common Stock registered on the registrant's Form S-8 filed on August 6, 2015 (File No. 333-206179), Form S-8 filed on February 29, 2016 (File No. 333-209792), Form S-8 filed on February 27, 2017 (File No. 333-216274), Form S-8 filed on February 26, 2018 (File No. 333-223231) and Form S-8 filed on February 28, 2019 (File No. 333-229970).
PART I
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
The information specified in Item 1 and Item 2 of Part I of Form S-8 is omitted from this Registration Statement in accordance with the provisions of Rule 428 under the Securities Act of 1933, as amended (the "
Securities Act
"), and the introductory note to Part I of Form S-8. The documents containing the information specified in Part I of Form S-8 will be delivered to the participants in the equity incentive plan covered by this Registration Statement as specified by Rule 428(b)(1) under the Securities Act.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3.    Incorporation of Documents by Reference.
The following documents, which have been filed by the registrant with the Securities and Exchange Commission (the "
Commission
"), are hereby incorporated by reference herein, and shall be deemed to be a part of, this Registration Statement:
•
the Annual Report on Form 10-K relating to the fiscal year ended December 31, 2019, filed with the Commission on March 2, 2020 (the "
Annual Report
"), pursuant to Section 13(a) of the Securities Exchange Act of 1934, as amended (the "
Exchange Act
");
•
the Definitive Proxy Statement on Schedule 14A relating to the registrant's 2019 Annual Meeting of Stockholders, filed with the Commission on April 1, 2019, all other reports filed by the registrant pursuant to Section 13(a) or 15(d) of the Exchange Act since the end of the fiscal year covered by the Annual Report; and
•
the description of the Class A Common Stock contained in the Registration Statement on Form 8-A (File No. 001-37468) filed with the Commission on June 23, 2015, pursuant to Section 12(b) of the Exchange Act, and any amendment or report filed for the purpose of updating such description.
In addition, all documents filed by the registrant pursuant to Section 13(a), 13(c), 14 or 15(d) of the Exchange Act after the date of this Registration Statement and prior to the filing of a post-effective amendment, which indicates
3
that all securities offered have been sold, or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference in this Registration Statement and to be a part of it from the respective dates of filing such documents; except as to any portion of any future annual, quarterly or current report or other document, or any portion thereof, that is deemed furnished and not deemed filed under such provisions. Any statement contained in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for the purposes of this Registration Statement to the extent that a statement contained herein or in any other subsequently filed document, which also is or is deemed to be incorporated by reference herein, modifies or supersedes such statement. Any statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.
Item 4.    Description of Securities.
Not applicable.
Item 5.    Interests of Named Experts and Counsel.
Not applicable.
Item 6.    Indemnification of Directors and Officers.
The registrant is incorporated under the laws of the State of Delaware. Section 145 of the
Delaware General Corporation Law (the "
DGCL
")
provides that a Delaware corporation may indemnify any persons who are, or are threatened to be made, parties to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative (other than an action by or in the right of such corporation), by reason of the fact that such person is or was an officer, director, employee or agent of such corporation, or is or was serving at the request of such corporation as an officer, director, employee or agent of another corporation or enterprise. The indemnity may include expenses (including attorneys' fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by such person in connection with such action, suit or proceeding, provided that such person acted in good faith and in a manner he or she reasonably believed to be in or not opposed to the corporation's best interests and, with respect to any criminal action or proceeding, had no reasonable cause to believe that his or her conduct was illegal. Section 145 of the DGCL further authorizes a corporation to purchase and maintain insurance on behalf of any indemnified person against any liability asserted against and incurred by such person in any indemnified capacity, or arising out of such person's status as such, regardless of whether the corporation would otherwise have the power to indemnify such person under the DGCL.
Section 102(b)(7) of the DGCL permits a corporation to provide in its certificate of incorporation that a director of the corporation will not be personally liable to the corporation or its stockholders for monetary damages for breach of fiduciary duties as a director, except for liability for any:
•
breach of a director's duty of loyalty to the corporation or its stockholders;
•
act or omission not in good faith or that involves intentional misconduct or a knowing violation of law;
•
unlawful payment of dividends or redemption of shares; or
•
transaction from which the director derives an improper personal benefit.
The registrant's amended and restated certificate of incorporation authorizes the registrant to, and the registrant's amended and restated bylaws provide that it must, indemnify the registrant's directors and officers to the fullest extent authorized by the DGCL and also pay expenses incurred in defending any such proceeding in advance of its final disposition upon delivery of an undertaking, by or on behalf of an indemnified person, to repay all amounts so advanced if it should be determined ultimately that such person is not entitled to be indemnified under the DGCL or otherwise.
4
As permitted by the DGCL, the registrant has entered into indemnification agreements with each of its directors and executive officers. These agreements require the registrant to indemnify these individuals to the fullest extent permitted under Delaware law against liabilities that may arise by reason of their service to the registrant, and to advance expenses incurred as a result of any proceeding against them as to which they could be indemnified.
The registrant has an insurance policy covering its directors and executive officers with respect to certain liabilities, including liabilities arising under the Securities Act and otherwise.
Item 7.    Exemption from Registration Claimed.
Not applicable.
Item 8
.
Exhibits.
A list of exhibits filed with this Registration Statement is set forth in the Exhibit Index hereto and is incorporated herein by reference.
Item 9.    Undertakings.
(a)    The undersigned registrant hereby undertakes:
(1)    To file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:
(i)    To include any prospectus required by section 10(a)(3) of the Securities Act;
(ii)    To reflect in the prospectus any facts or events arising after the effective date of the Registration Statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the Registration Statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than a 20% change in the maximum aggregate offering price set forth in the "Calculation of Registration Fee" table in the effective Registration Statement; and
(iii)    To include any material information with respect to the plan of distribution not previously disclosed in the Registration Statement or any material change to such information in the Registration Statement;
provided, however
, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the Commission by the registrant pursuant to section 13 or section 15(d) of the Exchange Act that are incorporated by reference in the Registration Statement.
(2)    That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new Registration Statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial
bona fide
offering thereof.
(3)    To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.
5
(b)
The undersigned registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the registrant's annual report pursuant to section 13(a) or section 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan's annual report pursuant to section 15(d) of the Exchange Act), that is incorporated by reference in the Registration Statement shall be deemed to be a new Registration Statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial
bona fide
offering thereof.
(c)
Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.
6
SIGNATURES
Pursuant to the requirements of the Securities Act, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized in Santa Barbara, California, on
March 2, 2020
.
APPFOLIO, INC.
By:
/s/ Ida Kane
Ida Kane
Chief Financial Officer
POWER OF ATTORNEY
KNOW ALL PERSONS BY THESE PRESENTS that each individual whose signature appears below constitutes and appoints Jason Randall and Ida Kane, and each or either of them, acting individually, his or her true and lawful attorney-in-fact and agent, with full power of substitution, for him or her and in his or her name, place and stead, in any and all capacities, to sign any and all amendments (including post-effective amendments) to this Registration Statement, and to file the same, with all exhibits thereto and other documents in connection therewith, with the Commission, granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform each and every act and thing requisite and necessary to be done in connection therewith, as fully to all intents and purposes as he or she might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, or either of them, or his, her or their substitute or substitutes, may lawfully do or cause to be done or by virtue hereof.
Pursuant to the requirements of the Securities Act, this Registration Statement has been signed by the following persons in the capacities and on the date indicated.
Signature
Title
Date
/s/ Jason Randall
President, Chief Executive Officer and Director
(Principal Executive Officer)
March 2, 2020
Jason Randall
/s/ Ida Kane
Chief Financial Officer
(Principal Financial and Accounting Officer)
March 2, 2020
Ida Kane
/s/ Andreas von Blottnitz
Chairman of the Board
March 2, 2020
Andreas von Blottnitz
/s/ Timothy Bliss
Director
March 2, 2020
Timothy Bliss
/s/ Janet Kerr
Director
March 2, 2020
Janet Kerr
/s/ James Peters
Director
March 2, 2020
James Peters
/s/ William Rauth
Director
March 2, 2020
William Rauth
/s/ Klaus Schauser
Chief Strategist and Director
March 2, 2020
Klaus Schauser
/s/ Winifred Webb
Director
March 2, 2020
Winifred Webb
EXHIBIT INDEX
Exhibit Number
Description
4.1
Specimen Certificate for Class A Common Stock (incorporated by reference to Exhibit 4.1 to the Registration Statement on Form S-1 (File No. 333-204262), which was initially filed with the Commission on May 18, 2015).
4.2
Amended and Restated Certificate of Incorporation of the registrant, as currently in effect (incorporated by reference to Exhibit 3.1 to the Quarterly Report on Form 10-Q relating to the quarterly period ended June 30, 2015, filed with the Commission on August 6, 2015).
4.3
Amended and Restated Bylaws of the registrant, as currently in effect (incorporated by reference to Exhibit 3.2 to the Quarterly Report on Form 10-Q relating to the quarterly period ended June 30, 2015, filed with the Commission on August 6, 2015).
4.4
2015 Stock Incentive Plan and related forms of agreements (incorporated by reference to Exhibit 10.4 to the Registration Statement on Form S-1 (File No. 333-204262), which was initially filed with the Commission on May 18, 2015).
5.1*
Opinion of Stradling Yocca Carlson & Rauth, P.C.
23.1*
Consent of independent registered public accounting firm.
23.2*
Consent of Stradling Yocca Carlson & Rauth, P.C. (included in Exhibit 5.1 hereto).
24.1*
Power of Attorney (included on signature page hereto).
* Filed herewith.