# EDGAR Filing Document

**Accession Number:** 0001441683
**File Stem:** 0000902664-26-000513
**Filing Date:** 2026-1
**Character Count:** 13948
**Document Hash:** e4fe78c1de77d22c2615f7ad4258a99a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000902664-26-000513.hdr.sgml**: 20260127

**ACCESSION NUMBER**: 0000902664-26-000513

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13D

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20260127

**DATE AS OF CHANGE**: 20260127

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** APPIAN CORP
- **CENTRAL INDEX KEY:** 0001441683
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-PREPACKAGED SOFTWARE [7372]
- **ORGANIZATION NAME:** 06 Technology
- **EIN:** 541956084
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-90007
- **FILM NUMBER:** 26567700

**BUSINESS ADDRESS:**
- **STREET 1:** 7950 JONES BRANCH DRIVE
- **CITY:** MCLEAN
- **STATE:** VA
- **ZIP:** 22102
- **BUSINESS PHONE:** 703-442-8844

**MAIL ADDRESS:**
- **STREET 1:** 7950 JONES BRANCH DRIVE
- **CITY:** MCLEAN
- **STATE:** VA
- **ZIP:** 22102
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Fivespan Partners, LP
- **CENTRAL INDEX KEY:** 0002040262

**ORGANIZATION NAME:**
- **EIN:** 934059115
- **STATE OF INCORPORATION:** X1
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D

**BUSINESS ADDRESS:**
- **STREET 1:** 1170 GORGAS AVENUE
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94129
- **BUSINESS PHONE:** (415) 318-7903

**MAIL ADDRESS:**
- **STREET 1:** 1170 GORGAS AVENUE
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94129

## Exhibit 99.1

**<u>SCHEDULE A</u>**

**Transactions of the Reporting Persons Effected** 

**During the Past Sixty (60) Days**

The following table sets forth all transactions in the Common Stock effected by each of the Reporting Persons in the past sixty (60) days. Except as noted below, all such transactions were effected by the Reporting Persons in the open market through brokers and the price per share excludes commissions. Where a price range is provided in the column titled "Price Range ($)", the price reported in the column titled "Price Per Share ($)" is a weighted average price. These shares of Common Stock were sold or purchased in multiple transactions at prices between the price ranges indicated in the column titled "Price Range ($)". The Reporting Persons will undertake to provide to the staff of the SEC, upon request, full information regarding the number of shares of Common Stock sold or purchased at each separate price.

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Trade Date** | &nbsp;&nbsp;**Shares Purchased (Sold)** | &nbsp;&nbsp;**Price Per Share ($)** | &nbsp;&nbsp;**Price Range ($)** |
| &nbsp;&nbsp;01/02/2026 | &nbsp;&nbsp;65907 | &nbsp;&nbsp;33.71 | &nbsp;&nbsp;33.66 - 33.77 |
| &nbsp;&nbsp;01/05/2026 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;33.81 |  |
| &nbsp;&nbsp;01/07/2026 | &nbsp;&nbsp;3450 | &nbsp;&nbsp;33.98 |  |
| &nbsp;&nbsp;01/09/2026 | &nbsp;&nbsp;200000 | &nbsp;&nbsp;33.63 | &nbsp;&nbsp;33.49 – 33.78 |
| &nbsp;&nbsp;01/12/2026 | &nbsp;&nbsp;96550 | &nbsp;&nbsp;33.74 |  |
| &nbsp;&nbsp;01/14/2026 | &nbsp;&nbsp;90000 | &nbsp;&nbsp;30.47 |  |
| &nbsp;&nbsp;01/20/2026 | &nbsp;&nbsp;150000 | &nbsp;&nbsp;28.73 | &nbsp;&nbsp;28.70 – 28.76 |
| &nbsp;&nbsp;01/21/2026 | &nbsp;&nbsp;1103 | &nbsp;&nbsp;28.00 |  |
| &nbsp;&nbsp;01/22/2026 | &nbsp;&nbsp;198897 | &nbsp;&nbsp;29.15 | &nbsp;&nbsp;29.13 – 29.17 |
| &nbsp;&nbsp;01/23/2026 | &nbsp;&nbsp;123931 | &nbsp;&nbsp;29.44 | &nbsp;&nbsp;29.43 – 29.44 |
| &nbsp;&nbsp;01/27/2026 | &nbsp;&nbsp;26069 | &nbsp;&nbsp;29.59 | &nbsp;&nbsp;29.50 – 29.68 |

---

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13D

### Under the Securities Exchange Act of 1934

**APPIAN CORP**

*(Name of Issuer)*

**Class A Common Stock, $0.0001 par value per share**

*(Title of Class of Securities)*

**03782L101**

*(CUSIP Number)*

**Carly Pollock**<br>Fivespan Partners, LP<br>1170 Gorgas Avenue<br>San Francisco CA 94129<br>(415) 318-7900

*(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)*

**01/20/2026**

*(Date of Event Which Requires Filing of this Statement)*

| **CUSIP No.** | **03782L101** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Fivespan Partners, LP** | Name of reporting person<br>**Fivespan Partners, LP** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**AF** | Source of funds (See Instructions)<br>**AF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**2630907.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**2630907.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**2630907.00** | Aggregate amount beneficially owned by each reporting person<br>**2630907.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**6.2%** | Percent of class represented by amount in Row (11)<br>**6.2%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IA** | Type of Reporting Person (See Instructions)<br>**IA** | |

---

| **CUSIP No.** | **03782L101** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Dylan Haggart** | Name of reporting person<br>**Dylan Haggart** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**AF** | Source of funds (See Instructions)<br>**AF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**ISRAEL** | Citizenship or place of organization<br>**ISRAEL** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**2630907.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**2630907.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**2630907.00** | Aggregate amount beneficially owned by each reporting person<br>**2630907.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**6.2%** | Percent of class represented by amount in Row (11)<br>**6.2%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

**Item 1. Security and Issuer**

**(a) Title of Class of Securities:**
Class A Common Stock, $0.0001 par value per share

**(b) Name of Issuer:**
APPIAN CORP

**(c) Address of Issuer's Principal Executive Offices:**
7950 JONES BRANCH DRIVE, MCLEAN, VA, 22102

This statement on Schedule 13D (the "Schedule 13D") relates to the shares of Class A Common Stock, par value $0.0001 per share (the "Common Stock"), of Appian Corporation, a Delaware corporation (the "Issuer").

**Item 4. Purpose of Transaction**

The Reporting Persons acquired the securities of the Issuer reported herein based on their belief that the securities were undervalued and represented an attractive investment opportunity.

The Reporting Persons have had, and anticipate having, further discussions with officers and directors of the Issuer in connection with the Reporting Persons' investment in the Issuer. The topics of these conversations have covered or will cover a range of issues, including those relating to the business of the Issuer, management, board composition (which include whether it makes sense for a Fivespan employee to be on the Issuer's board of directors), investor communications, operations, capital allocation, dividend policy, financial condition, mergers and acquisitions strategy, overall business strategy, executive compensation, and corporate governance. The Reporting Persons may also have similar conversations with other stockholders or other interested parties, such as industry analysts, existing or potential strategic partners or competitors, investment professionals, and other investors.  The Reporting Persons may exchange information with any such persons pursuant to appropriate confidentiality or similar agreements which may contain customary standstill provisions. The Reporting Persons may at any time reconsider and change their intentions relating to the foregoing. The Reporting Persons may also take one or more of the actions described in subsections (a) through (j) of Item 4 of Schedule 13D and may discuss such actions with the Issuer's management and the board of directors, other stockholders of the Issuer, and other interested parties, such as those set out above.  They may also take steps to explore and prepare for various plans and actions, and propose transactions, before forming an intention to engage in such plans or actions or proceed with such transactions.

The Reporting Persons intend to review their investments in the Issuer on a continuing basis. Depending on various factors, including, without limitation, the Issuer's financial position and strategic direction, the outcome of the discussions and actions referenced above, actions taken by the Issuer's board of directors, price levels of the Common Stock, other investment opportunities available to the Reporting Persons, conditions in the securities market and general economic and industry conditions, the Reporting Persons may in the future take actions with respect to their investment position in the Issuer as they deem appropriate, including, without limitation, purchasing additional Common Stock or other instruments that are based upon or relate to the value of the Common Stock or the Issuer in the open market or otherwise, selling some of or all of their securities of interests held by the Reporting Persons, and/or engaging in hedging or similar transactions with respect to the Common Stock.

**Item 5. Interest in Securities of the Issuer**

**(a)**
See rows (11) and (13) of the cover pages to this Schedule 13D for the aggregate number of shares of Common Stock and percentages of the shares of Common Stock beneficially owned by each of the Reporting Persons.  All percentages set forth herein are based upon a total of 42,735,083 shares of Common Stock outstanding as of November 3, 2025, as reported in the Issuer's quarterly report on Form 10-Q for the quarterly period ended September 30, 2025, filed with the SEC on November 6, 2025.

**(b)**
See rows (7) through (10) of the cover pages to this Schedule 13D for the number of shares of Common Stock as to which each Reporting Person has the sole or shared power to vote or direct the vote and sole or shared power to dispose or to direct the disposition.

**(c)**
Information concerning transactions in the Common Stock of the Issuer effected by the Reporting Persons during the past sixty (60) days is set forth in Schedule A attached hereto and is incorporated herein by reference.

**Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.**

Other than as disclosed herein, there are no contracts, arrangements, understandings or relationships (legal or otherwise) among the persons named in Item 2 hereof and between such persons and any person with respect to any securities of the Issuer, including any class of the Issuer's securities used as a reference security, in connection with any of the following: call options, put options, security-based swaps or any other derivative securities, transfer or voting of any of the securities, finder's fees, joint ventures, loan or option arrangements, guarantees of profits, division of profits or loss, or the giving or withholding of proxies.

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Fivespan Partners, LP

**Signature:** /s/ Carly Pollock

**Name/Title:** Carly Pollock, Chief Operating Officer, Chief Financial Officer and Chief Compliance Officer

**Date:** 01/27/2026

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Dylan Haggart

**Signature:** /s/ Dylan Haggart

**Name/Title:** Dylan Haggart, Individually

**Date:** 01/27/2026