APPFOLIO INC — Form 10-Q

AppFolio formalized a Corporate Bonus Plan effective January 1 each year, covering regular salaried and hourly employees not in sales commission roles. Bonuses are discretionary, performance-based, and paid annually by March 15 if company meets Board-approved targets and employee remains actively employed through payout date. Plan includes standard proration for new hires (ineligible if hired after October 1), role transfers, and employment status changes, with clawback provisions.