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AppFolio Executive Compensation (FY25)

APPF · Santa Barbara, CA · Executive and director compensation, fiscal 2022 to 2025
Chief executive, fiscal 2025
◇
Shane Trigg
Latest say-on-pay support
=
June 12, 2026
Chief executive pay ratio
◇
To the median employee
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Data as of October 18, 2026Latest filing (8-K): June 15, 2026
13 filings cited on this page
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262 figures on this page: 254 cited to the filing that reported them, 8 calculated from figures it prints. See the citations

More on AppFolio

Five data products on this company. Each one is requested through the developer setup page.
What changed from fiscal 2024 to fiscal 2025
The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.
Chief executive total compensation — Shane Trigg: $5,018,965 → $5,438,904 (8.4% higher)
CEO pay ratio: 25:1 → 29:1 (16.0% higher)

Frequently asked questions

Answers drawn from the data on this page.
Who is AppFolio's chief executive and what were they paid?
Shane Trigg, President and Chief Executive Officer, received $5,438,904 in total compensation for fiscal 2025. Compared with the $5,018,965 reported for fiscal 2024, Trigg's total was 8.4% higher.
What was AppFolio's say-on-pay result?
The say-on-pay proposal drew 99.6% support at the meeting held June 12, 2026 for fiscal 2025.
What is AppFolio's chief executive pay ratio?
The disclosed chief executive pay ratio for fiscal 2025 is 29:1, against median employee compensation of $189,867.

Executive compensation

Every element reported for each named executive officer, by fiscal year.
Fiscal 2022
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Fay Sien Goon
Chief Financial Officer
◇◇——◇—◇◇
Jason Randall
Former President and Chief Executive Officer
Departed during or after this year
◇———◇—◇◇
Shane Trigg
President and Chief Executive Officer
◇———◇—◇◇
Jonathan Walker
Founder
◇———◇—◇◇
Matt Mazza
Chief Legal Officer and Corporate Secretary
◇———◇—◇◇
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Shane Trigg
President and Chief Executive Officer
◇—◇◇◇—◇◇
Jason Randall
Former President and Chief Executive Officer
Departed during or after this year
◇—————◇◇
Fay Sien Goon
Chief Financial Officer
◇—◇—◇—◇◇
Matt Mazza
Former Chief Trust Officer
◇—◇—◇—◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Shane Trigg
President and Chief Executive Officer
◇◇◇—◇—◇◇
Matt Mazza
Former Chief Trust Officer
◇—◇—◇—◇◇
Fay Sien Goon
Former Chief Financial Officer
Departed during or after this year
◇—◇———◇◇
Tim Eaton
Chief Financial Officer
◇—◇—◇—◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Shane Trigg
President and Chief Executive Officer
◇—◇—◇—◇◇
Tim Eaton
Chief Financial Officer
◇◇◇—◇—◇◇
Elizabeth Barat
Chief People Officer
◇—◇—◇—◇◇
Matt Mazza
Former Chief Trust Officer
Departed during or after this year
◇—◇———◇◇
Evan Pickering
Senior Vice President, General Counsel and Corporate Secretary
◇—◇—◇—◇◇
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.

Equity awards granted

Individual awards as disclosed: type, date, unit counts at each level, and grant date value.
Fiscal 2025
OfficerAwardGrant dateThreshold unitsTarget unitsUnits grantedMaximum unitsExercise priceGrant date fair value
Elizabeth BaratPSU◇◇◇—◇—◇
Elizabeth BaratRSU◇——◇——◇
Evan PickeringPSU◇◇◇—◇—◇
Evan PickeringRSU◇——◇——◇
Fay Sien GoonRSU◇——◇——◇
Fay Sien GoonRSU◇——◇——◇
Matt MazzaPSU◇◇◇—◇—◇
Matt MazzaRSU◇——◇——◇
Shane TriggPSU◇◇◇—◇—◇
Shane TriggRSU◇——◇——◇
Tim EatonRSU◇——◇——◇
Tim EatonPSU◇◇◇—◇—◇
Tim EatonRSU◇——◇——◇
Fiscal 2022, 2023, 2024 are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. Threshold, target and maximum apply only to performance awards and are never shown for time-based or option awards.

Outstanding awards

Awards still held at fiscal year end.
As disclosed at fiscal 2025 year end
OfficerAwardUnvested unitsMarket value of unvested unitsExercise priceExpires
Elizabeth BaratRSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Shane TriggRSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Option◇—◇3/1/2033
RSU◇◇——
RSU◇◇——
Tim EatonRSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Evan PickeringRSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Severance and change in control

The terms as written in the agreements.
Elizabeth Barat
Chief People Officer · Employment agreement
Severance multiple◇
Matt Mazza
Former Chief Trust Officer · Severance agreement
Severance cash amount◇
Change-in-control trigger◇
Equity acceleration on change in control◇
Benefits continuation◇
Excise tax treatment◇
Shane Trigg
President and Chief Executive Officer · Terms as described in the company’s compensation discussion · citing a 2025 filing
Severance base◇
Change-in-control base◇
Benefits continuation on change in control◇
Benefits continuation◇
Tim Eaton
Chief Financial Officer · Terms as described in the company’s compensation discussion · citing a 2025 filing
Equity acceleration on change in control◇

Director compensation

What each non-employee director was paid.
Fiscal 2025
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Robert Donald Casey III
—◇————◇
Janet Kerr
◇◇————◇
Andreas von Blottnitz
Board chair
◇◇————◇
Agnes Bundy Scanlan
◇◇————◇
Winifred Webb
◇◇————◇
Olivia Nottebohm
◇◇————◇
Timothy Bliss, Alex Wolf, Shane Trigg and Saori Casey served on the board in fiscal 2025 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.
Earlier years are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director fee schedule

The standing retainers and premiums the board pays, as published.
Board cash retainer◇
Board equity retainer◇
Board chair premium◇
Audit committee chair◇
Audit committee member◇
Compensation committee chair◇
Compensation committee member◇
Nominating and governance chair◇
Nominating and governance member◇
Equity is delivered as restricted stock units.

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2026
  • NO_DISCLOSURE symbol not shown

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2025June 12, 2026=◇◇◇
2024June 13, 2025=◇◇◇
2023June 14, 2024=◇◇—
2022June 16, 2023=◇◇—
2021June 10, 2022=◇◇—
2020May 14, 2021=◇◇—
2019May 22, 2020=◇◇◇
2018May 17, 2019=◇◇◇

Chief executive pay ratio

As calculated and reported by the company.
Ratio
◇
Median employee compensation
◇
Chief executive total compensation
◇

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Sample answer — “What is the CEO’s total compensation?”
- Shane Trigg (President and Chief Executive Officer), FY2025 total compensation $5,438,904 (base salary $550,000) [exec_comp, SEC accession 0001433195-26-000031, filed 2026-04-28]

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What this page does not include

Everything above is a fact AppFolio disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where AppFolio sits against its disclosed peers — percentile position by role and by pay element, and the ranking behind it. The disclosed peer group is free; comparisons across it are part of the Velarion platform.
Executive Compensation Report — $1,500
Written compensation analysis
A read of the pay program as designed and as paid: incentive structure, goal rigor, the alignment between the committee's stated philosophy and what the numbers show.
Executive Compensation Report — $1,500
Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
Board Governance Report — $499
Realizable pay
What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.
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Two datasets covering compensation-adviser changes and what followed a contested vote. Both are part of the Velarion platform.
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Citations

Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
262 figures on this page: 254 cited to the filing that reported them, 8 calculated from figures it prints.
254 cited to the filing
8 calculated from the filing

Documents cited

  1. 0001433195-26-000034
  2. 0001433195-26-000031
    CEO Pay Ratio · Director Compensation Program · Director Compensation Table · Grants of Plan-Based Awards · and 3 more sections
  3. 0001433195-26-000011
    Employment Agreement
  4. 0001433195-25-000086
    Item 5.07 Submission of Matters to a Vote of Security Holders
  5. 0001433195-25-000061
    Compensation Discussion and Analysis · Summary Compensation Table
  6. 0001433195-24-000076
  7. 0001433195-24-000058
    Summary Compensation Table
  8. 0001433195-23-000077
  9. 0001433195-23-000050
    Summary Compensation Table
  10. 0001433195-22-000063
  11. 0001433195-21-000055
  12. 0001433195-20-000036
  13. 0001433195-19-000044
Cite this data
This page is free to cite. Attribution we ask for:
Velarion, “AppFolio executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/APPF (accessed 2026).
Short form: data: Velarion

The paid brief for AppFolio

Positioning against its disclosed peers, the governance read, incentive design, and the CD&A alignment analysis; the full peer table; a committee-ready PDF.
$1,500 for the Executive Compensation Report. Both reports for $2,400.
Get the executive briefGet the board briefNo account needed.
13 filings cited on this page
Method: intel.velarion.ai/methodology
A report that fails to generate is refunded in full
Published by Velarion Company Intelligence
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Free to read and cite. Redistribution or bulk use of the dataset requires a data license. Talk to us about the data license.

Cite this data
APA
Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854
BibTeX
@misc{velarionData2026,
  author = {{Velarion Company Intelligence}},
  title = {Velarion database: executive and board compensation data},
  year = {2026},
  version = {2026Q3},
  doi = {10.5281/zenodo.22283854},
  publisher = {Zenodo},
  url = {https://doi.org/10.5281/zenodo.22283854}
}
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