Director Bobbie G. Kilberg filed a Form 4 with the SEC on September 11, 2026, reporting a conversion of Class B Common Stock into Class A Common Stock of Appian Corp (NASDAQ:APPN) on September 9, 2026.

Key Highlights

  • Conversion transaction: Kilberg converted 10,800 shares of Class B Common Stock into 10,800 shares of Class A Common Stock on September 9, 2026.
  • Option exercise: A fully vested stock option with an exercise price of $11.17 covering 10,800 shares of Class B Common Stock was exercised (transaction code M) on September 9, 2026, resulting in 0 derivative securities remaining.
  • Direct ownership after transaction: Kilberg directly holds 10,800 shares of Class A Common Stock following the reported transaction.
  • Indirect ownership: Kilberg indirectly holds 73,491 shares of Class A Common Stock through various trusts.
  • Trust contribution: 1,364 shares previously owned directly were contributed to the WB Trust on August 19, 2026, according to the filing.
  • Signing authority: The form was signed by Angela Patterson as Attorney-in-Fact on September 11, 2026.

Kilberg's Class B-to-Class A Conversion and Option Exercise at Appian Corp

According to the filing, Bobbie G. Kilberg, a director of Appian Corp (NASDAQ:APPN), reported two related transactions on September 9, 2026. First, a fully vested stock option with an exercise price of $11.17, covering 10,800 shares of Class B Common Stock and expiring January 31, 2027, was exercised via transaction code M. The filing notes the price of the derivative security as $0 following the transaction, and 0 derivative securities remain in that position.

Second, the 10,800 shares of Class B Common Stock acquired through the option exercise were converted into 10,800 shares of Class A Common Stock under transaction code C. The filing states: "Pursuant to the terms of the Class B Common Stock, the Reporting Person converted shares of Class B Common Stock into shares of Class A Common Stock." Each share of Class B Common Stock is convertible at any time at the option of the holder into one share of Class A Common Stock on a one-for-one basis, and also converts automatically under certain conditions described in the issuer's certificate of incorporation.

Following these transactions, Kilberg directly holds 10,800 shares of Class A Common Stock. In addition, the filing discloses 73,491 shares of Class A Common Stock held indirectly through trusts: 1,246 shares held by the Barbara Greene Kilberg Living Trust, 1,246 shares held by the Kilberg Family Trust, and 70,999 shares held by a tenants-in-common arrangement involving the William Kilberg Trust and Barbara Kilberg Trust, both dated July 1, 1998. The filing also notes that 1,364 shares previously held directly were contributed to the WB Trust on August 19, 2026.

What Was Disclosed

The filing reported a stock option exercise and a same-day conversion of 10,800 Class B shares into 10,800 Class A shares of Appian Corp by director Bobbie G. Kilberg on September 9, 2026, along with updated indirect beneficial ownership through multiple trusts.