Abdiel Capital-affiliated entities filed Amendment No. 51 to Schedule 13D for Appian Corporation (APPN). The amendment, dated 23 July 2025, updates the group’s disclosed holdings of Class A common stock.
Based on 43,140,083 shares outstanding (5 May 2025), reported beneficial ownership is as follows:
- Abdiel Qualified Master Fund, LP: 5,422,618 shares (12.6%).
- Abdiel Capital, LP: 260,181 shares (0.6%).
- Abdiel Partners, LLC: 7,793 shares (<0.1%).
- Abdiel Capital Management, LLC: 5,682,799 shares (13.2%).
- Abdiel Capital Advisors, LP: 5,690,592 shares (13.2%).
- Colin T. Moran: 5,690,592 shares (13.2%).
The group therefore controls approximately 5.69 million shares, or 13.2% of Appian’s Class A float. Voting and dispositive powers are shared; no entity holds sole power.
Items regarding source of funds, purpose of transaction, contracts, and arrangements are marked “Not Applicable,” indicating no new strategic actions disclosed. Any trades since Amendment No. 50 are contained in Exhibit A (not included here). The filing appears to be an administrative ownership update with no direct impact on Appian’s operations or capital structure.
Appian Corp. (APPN) filed a Form 4 showing that Abdiel Capital Advisors–controlled funds—identified as >10 % beneficial owners—executed open-market sales of 290,685 Class A shares across 17-21 Jul 2025. Weighted-average prices ranged from $28.49 to $29.03, generating roughly $8.4 million in gross proceeds. The largest block, 192,481 shares, was sold on 18 Jul at $28.81.
Following the transactions, Abdiel’s aggregated indirect ownership declined from about 6.81 million to 6.52 million shares, a reduction of ~4.3 %, yet the group remains above the 10 % threshold. No derivative activity was reported.
Key points
- Reporting entities: Abdiel Qualified Master Fund LP, Abdiel Capital LP, Abdiel Partners LLC; investment manager Abdiel Capital Advisors LP; Colin T. Moran signs for all entities.
- Footnotes disclose that prices are weighted averages within stated bands; detailed trade data available on request.
- Filing contains no commentary on rationale; it is strictly a compliance disclosure of insider selling.
Schedule 13D/A Amendment No. 49 – Appian Corporation (NASDAQ: APPN)
On 7 July 2025, Abdiel Capital and related entities filed their 49th amendment to Schedule 13D disclosing their current ownership of 7,028,847 Class A shares of Appian Corporation. Based on the issuer’s outstanding share count of 43,140,083 (as of 5 May 2025), the group’s aggregate holding represents 16.3 % of the class, comfortably above the 5 % reporting threshold and positioning Abdiel as one of Appian’s largest shareholders.
The filing groups six reporting persons:
- Abdiel Qualified Master Fund, LP – 6,698,502 shares (15.5 %)
- Abdiel Capital, LP – 321,282 shares (0.7 %)
- Abdiel Partners, LLC – 9,063 shares (≈0 %)
- Abdiel Capital Management, LLC – control entity for a combined 7,019,784 shares (16.3 %)
- Abdiel Capital Advisors, LP – investment manager with shared power over 7,028,847 shares
- Colin T. Moran – managing member, shared power over all 7,028,847 shares
Voting & dispositive power: All reporting persons disclose shared voting and dispositive power; no shares are held with sole authority. The source of funds is marked “OO” (other), and the amendment lists No changes to purpose, contracts, or arrangements, indicating a passive stance. Exhibit A (not included here) would detail any trades executed since Amendment 48.
Key Takeaways for Investors
- Abdiel remains a highly concentrated, long-term holder of APPN, controlling >16 % of the free float.
- No new activist intentions or strategic proposals are disclosed; Item 4 (“Purpose of Transaction”) is unchanged.
- The filing serves primarily to update share counts and recent transactions required under Section 13D.
Form 4 filing – Appian Corporation (APPN) – 07/08/2025
Abdiel Capital-affiliated entities, collectively a 10% beneficial owner of Appian, reported a series of open-market dispositions of Class A common stock between 07/03/2025 and 07/08/2025.
- Total shares sold: 301,379
- Average price range: $30.07 – $31.50
- Post-sale beneficial ownership: 7,228,390 shares (down from 7,529,769 pre-sale)
The transactions were executed by two vehicles:
- Abdiel Qualified Master Fund, LP – 299,597 shares sold in four blocks (24,597; 91,852; 108,148; 75,000) at weighted average prices of $30.45–$31.27.
- Abdiel Partners, LLC – 1,782 shares sold in three small blocks at weighted average prices of $30.51–$31.19.
Following the sales, Abdiel entities remain above the 10% ownership threshold. No derivative securities were reported. Each weighted-average price reflects multiple trades; the funds commit to furnish full pricing details upon request.