Form 4: Appian Corp CEO Matthew Calkins Converts Class B Common Stock to Class A

Appian Corp's CEO, Matthew Calkins, converted 1,444,183 shares of Class B Common Stock into Class A Common Stock on October 1, 2024, according to a recent SEC filing.

Summary

• On October 1, 2024, Matthew Calkins, CEO and President of Appian Corp, converted 1,444,183 shares of Class B Common Stock into Class A Common Stock.
• Following the transaction, Calkins directly owns 1,832,562 shares of Class A Common Stock.
• The conversion was executed pursuant to the terms of the Class B Common Stock, which allows for conversion into Class A Common Stock.
• Calkins also exercised an employee stock option to acquire 1,444,183 shares of Class B Common Stock at a price of $9.46 per share, which were then converted to Class A Common Stock.
• The exercised options were fully vested due to the occurrence of certain conditions related to a change of control or the trading price of Class A common stock.

Sentiment

Score: 7

Explanation: The document reflects standard executive compensation activity and insider transactions, suggesting a neutral to slightly positive sentiment as it indicates the CEO's continued investment in the company.

Positives

• The conversion of Class B shares to Class A shares simplifies the capital structure of Appian.
• The exercise of vested stock options by the CEO demonstrates confidence in the company's future performance.

Industry Context

This filing is a routine disclosure related to insider transactions and is common for publicly traded companies. It provides transparency into the actions of company executives regarding their ownership of company stock.

Comparison to Industry Standards

• Stock option exercises and share conversions are standard practices for executives in publicly traded companies, particularly in the technology sector.
• Similar transactions are regularly reported by executives at companies like Salesforce (CRM), Adobe (ADBE), and Microsoft (MSFT).

Stakeholder Impact

• The conversion of shares and exercise of options have a minimal direct impact on stakeholders.
• The transactions provide transparency to shareholders regarding executive ownership.

Key Dates