Appian (APPN) Director Bobbie Kilberg Exercises Options, Acquires 10,800 Shares

What Happened

• Bobbie G. Kilberg, a director of Appian Corp (APPN), converted Class B common stock into Class A shares and exercised derivative securities on 2026-09-09, resulting in the acquisition of 10,800 Class A shares. One exercise entry shows an $11.17 per-share exercise price for 10,800 shares (total cash cost $120,636). Other conversion/exercise entries report $0 amounts reflecting non‑cash conversions per the issuer’s conversion terms.

Key Details

• Transaction date: 2026-09-09; Form 4 filed 2026-09-11 (timely filing).
• Acquisition: 10,800 shares acquired via exercise at $11.17/share = $120,636.
• Other entries: several conversion/exercise items reported with $0 amounts — these reflect conversions of Class B into Class A common stock (no cash exchanged) under the company’s charter.
• Shares held after transaction (per footnote): trusts hold 1,246 + 1,246 + 70,999 = 73,491 shares across three trusts (includes 1,364 shares contributed to a trust on 8/19/2026).
• Footnotes of note:
  • Class B shares are convertible into Class A at holder’s option and convert automatically in certain events (see footnotes).
  • Holdings relating to trusts are listed; holdings are fully vested (F5).

Context

• This was primarily an acquisition through exercise and conversion (not an open-market buy or sale). The $11.17 exercise indicates a cash outlay of $120,636 for the 10,800 shares; the zero-dollar conversion entries reflect token/non-cash conversions under the company’s charter rather than market sales.
• Conversions of Class B to Class A are governed by the issuer’s charter (including automatic conversion triggers) and are often administrative/capital-structure events rather than directional trading by an insider.