Calkins Matthew W 4

What Happened
Matthew W. Calkins, a 10% owner of Appian Corp (APPN), sold a total of 50,000 shares on July 7, 2026 in two reported transactions, generating total proceeds of $1,236,243. The filings show: 37,515 shares sold at a weighted average price of $24.61 (proceeds $923,244) and 12,485 shares sold at a weighted average price of $25.07 (proceeds $312,999). These were reported as sales (S) and described as open-market/private sales.

Key Details

• Transaction dates: July 7, 2026 (both lots). Filing date: July 8, 2026 (timely).
• Lot 1: 37,515 shares at weighted avg $24.61; prices ranged $23.87–$24.86 (footnote F2). Proceeds reported $923,244.
• Lot 2: 12,485 shares at weighted avg $25.07; prices ranged $24.87–$25.24 (footnote F3). Proceeds reported $312,999.
• Total shares sold: 50,000; total proceeds: $1,236,243.
• Footnote F1: Sales occurred automatically under a Rule 10b5-1 trading plan adopted March 5, 2026. Footnotes F2/F3 explain weighted-average pricing and provide ranges; full per-price breakdown available on request.
• Shares owned after transaction: not provided in the excerpt of the filing.

Context
As a 10% owner, Calkins is a significant shareholder; 10% owner transactions are treated differently from routine executive trades but are still standard disclosures. These sales were automatic under a pre-established 10b5-1 plan, which typically indicates pre-planned disposition rather than reactive market timing. Sales do not necessarily signal negative company outlook—retail investors often focus more on insider purchases as a stronger indicator of insider confidence.