Vanguard Portfolio Management (NYSE: APPN) reports 4.32M shares, 10.06% stake

Rhea-AI Filing Summary

Appian Corp reports a Schedule 13G filing by Vanguard Portfolio Management LLC reporting 10.06% beneficial ownership of Common Stock, equal to 4,316,150 shares as of the filing.

Vanguard Portfolio Management LLC indicates January 12, 2026 internal realignment of The Vanguard Group, Inc., and states the disclosed holdings reflect securities over which Vanguard Portfolio Management LLC and certain affiliates exercise dispositive power. The filer reports 34,978 shares of shared voting power and 4,316,150 shares of shared dispositive power.

Insights

Institutional Ownership Analyst

Vanguard Portfolio Management LLC owns 4,316,150 shares, representing 10.06% of Appian.

The filing quantifies beneficial ownership as 4,316,150 shares and a 10.06% stake. The disclosure lists 34,978 shares of shared voting power and full shared dispositive power over the 4,316,150 shares.

Timing: the filing references an internal realignment effective January 12, 2026. Cash‑flow treatment or sale intentions are not described in the excerpt, and subsequent disclosures would show any changes in holdings.

Corporate Governance Specialist

Filing reflects disaggregation of Vanguard reporting after a parent realignment; beneficial ownership reported by an affiliate.

The filing explains that The Vanguard Group, Inc. no longer performs portfolio management or proxy voting after January 12, 2026, with those functions performed by Vanguard Portfolio Management LLC and affiliates such as Vanguard Fiduciary Trust Company. The statement clarifies which affiliates' holdings are included.

This Schedule 13G is a passive investor disclosure; it does not state any changes in voting policy or planned transactions. Future filings could update percent ownership if dispositions or acquisitions occur.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Appian Corp

(Name of Issuer)

Common Stock

(Title of Class of Securities)

02/27/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP Number(s):

1

Names of Reporting Persons

Vanguard Portfolio Management

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

PENNSYLVANIA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 34,978.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 4,316,150.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

4,316,150.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

10.06 %

12

Type of Reporting Person (See Instructions)

IA

Comment for Type of Reporting Person: On January 12, 2026, The Vanguard Group, Inc., the parent entity of Vanguard Portfolio Management LLC, went through an internal realignment. As of that date, The Vanguard Group, Inc. no longer performs portfolio management services or administers proxy voting. Such services are performed by Vanguard Portfolio Management LLC. In accordance with SEC Release No. 34-39538 (January 12, 1998), Vanguard Portfolio Management LLC anticipates that it and certain other subsidiaries or business divisions of subsidiaries of The Vanguard Group, Inc., that currently have, or are deemed to have, beneficial ownership with The Vanguard Group, Inc., will report beneficial ownership on a disaggregated basis from The Vanguard Group, Inc. in reliance on such release. These subsidiaries and/or business divisions pursue the same investment strategies as previously pursued by The Vanguard Group, Inc. prior to the realignment. This Schedule 13G reflects the securities beneficially owned, or deemed to be beneficially owned, by Vanguard Portfolio Management LLC and the following affiliates of Vanguard Portfolio Management LLC or business divisions of such affiliates: Vanguard Fiduciary Trust Company. This Schedule 13G includes securities held by Vanguard funds, or sleeves thereof, over which Vanguard Portfolio Management LLC exercises dispositive power, in addition to securities held by clients over which the affiliates or business divisions of such affiliates indicated in the previous paragraph exercise dispositive and/or voting power. This Schedule 13G does not include securities, if any, beneficially owned by other affiliates of Vanguard Portfolio Management LLC or business divisions of such affiliates.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Appian Corp
(b)	Address of issuer's principal executive offices: 11955 Democracy Drive, Suite 1700, Reston, VA, 20190
Item 2.
(a)	Name of person filing: Vanguard Portfolio Management
(b)	Address or principal business office or, if none, residence: 100 Vanguard Blvd,, Malvern, PA, 19355
(c)	Citizenship: PA
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 03782L101
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 4316150
(b)	Percent of class: 10.06 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 34978
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 4316150
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. Vanguard Portfolio Management, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein.No one other person's interest in the securities reported herein is more than 5%.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

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.

Vanguard Portfolio Management

Signature:	Ashley Grim
Name/Title:	Head of Global Fund Administration
Date:	03/05/2026

FAQ

What stake does Vanguard Portfolio Management LLC report in APPN?

Vanguard Portfolio Management LLC reports beneficial ownership of 4,316,150 shares, representing 10.06% of Appian Corp common stock. The filing lists 34,978 shares of shared voting power and shared dispositive power over the full 4,316,150 shares.

When did Vanguard's internal realignment occur for this filing?

The filing states the internal realignment occurred on January 12, 2026. After that date, Vanguard Portfolio Management LLC performs portfolio management and proxy voting functions previously handled by The Vanguard Group, Inc.

Does the 13G filing indicate Vanguard plans to sell APPN shares?

No sale intentions are disclosed in the provided excerpt. The filing reports beneficial ownership and dispositive power; it does not describe any planned dispositions or cash‑flow treatment for these shares.

Who signed the Schedule 13G for Vanguard Portfolio Management LLC?

The filing is signed by Ashley Grim, listed as Head of Global Fund Administration, with the signature date of 03/05/2026. The signature affirms the reported ownership figures in the filing.

Which affiliates' holdings are included in Vanguard's reported total?

The filing states holdings include securities over which Vanguard Portfolio Management LLC and affiliates or business divisions such as Vanguard Fiduciary Trust Company exercise dispositive power, including securities held by Vanguard funds and certain client accounts.