---
schema_version: "secwatch.filing_event.v1"
accession: "0001441683-23-000076"
form_type: "8-K"
ticker: "APPN"
cik: "0001441683"
company_name: "APPIAN CORP"
filed_at: "2023-09-07T23:59:59+00:00"
generated_at: "2026-06-10T22:41:42.682667+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Appian secures $500M insurance floor for $2.1B Pegasystems judgment

## Summary
- Policy covers $500M of $2.1B award; if final judgment is less, Appian receives difference.
- Premium $57.3M (9.8% of limit) paid from cash; no further payments required.
- Oversubscribed syndicate of highly rated insurers; Appian bears risk if Pegasystems cannot pay above $500M.
- CEO says policy secures significant floor for shareholders; GC expresses confidence in appeal.

## SEC filing metadata
- accession: 0001441683-23-000076
- form_type: 8-K
- ticker: APPN
- cik: 0001441683
- company_name: APPIAN CORP
- filed_at: 2023-09-07T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1441683/000144168323000076/0001441683-23-000076-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1441683/000144168323000076/appn-20230907.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001441683-23-000076
- JSON: https://secwatch.observer/filing/0001441683-23-000076.json
- Plain text: https://secwatch.observer/filing/0001441683-23-000076.txt

## Key facts
- Material Agreements
  APPIAN CORP entered into the Policy with a large syndicate of highly rated insurers valued at $500.0 million (effective 2023-09-01).
  - Action: entry
  - Counterparty: a large syndicate of highly rated insurers
  - Value: $500.0 million
  - Effective: 2023-09-01
  source text: On September 1, 2023, Appian Corporation (“Appian”) bound a $500.0 million judgment preservation insurance policy (“the Policy”) in connection with its $2.1 billion judgment against Pegasystems Inc.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1441683/000144168323000076/0001441683-23-000076-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.