Dorsey Mark 4

What Happened

• Mark Dorsey, Appian’s Chief Revenue Officer, had 3,750 restricted stock units (RSUs) convert into Class A common shares on March 5, 2026. The filing shows 3,750 shares acquired via conversion and 1,155 shares withheld (disposed) to cover tax obligations at $26.99 per share, totaling about $31,173. Net shares delivered to Dorsey after withholding: 2,595.

Key Details

• Transaction date: March 5, 2026; Form 4 filed March 9, 2026 (filed within the standard two-business-day window).
• Converted/Acquired: 3,750 shares (conversion of RSUs) reported at $0.00 per share (derivative conversion).
• Withheld/Disposed for taxes: 1,155 shares at $26.99 per share = $31,173 (code F = tax withholding).
• Net shares received: 3,750 − 1,155 = 2,595 shares.
• Shares owned after transaction: not specified in the provided filing details.
• Footnotes: (1) RSUs convert one-for-one to Class A common stock; (2) each RSU is a contingent right to one share (or cash equivalent at issuer’s discretion); (3) RSUs were granted Feb 11, 2025 and vest in four equal annual installments commencing Mar 5, 2026, subject to continued service.

Context

• This was a routine vesting and tax-withholding event (an award vesting), not an open-market purchase or a discretionary sale. The RSUs converted into shares and some shares were automatically withheld to satisfy tax withholding requirements (a common “cashless” tax-withholding mechanism). Such transactions typically reflect scheduled compensation vesting rather than an insider buying or selling for investment reasons.