secwatch.observer — SEC 8-K summary
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Issuer:     APPIAN CORP (APPN)
CIK:        0001441683
Form:       8-K
Filed at:   2023-09-07T23:59:59+00:00
Accession:  0001441683-23-000076
Event type: other_material
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1441683/000144168323000076/0001441683-23-000076-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1441683/000144168323000076/appn-20230907.htm
  HTML page:      https://secwatch.observer/filing/0001441683-23-000076

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