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http://archive.fast-edgar.com//20180205/A422K22CZ222V2X2222F...

2/1/18 Senior VP of Worldwide Sales converted 112,359 Class B shares for the same amount of Class A shares (options priced at .83 cents)

http://archive.fast-edgar.com//20180206/AS25T22CZ222W2DK2226...

2/6/18 JPMorgan Chase picked up 191,365 shares in another private placement

That is why my Schwab interest rate for borrowing my shares is sitting at 53% and not dropping as I thought. There are more mouths lined up at the trough waiting to dine on some Appian!! This resets the 5 day pricing window IMHO for this next deal, and so the downward pressure on the stock should remain. Seems like all these deep pockets are trying to get in BEFORE earnings on Feb 24. Think they know something?!?

So today the stock rose with the market a handsome 4.9%. The closing price was $28.88, which is still below the 1st day closing price on the last deal ($28.97). The short effort just has to keep the price level for the next 4 days. I guess I’ll take their 53% interest for another 4 days!!!

Let’s see how APPN looks tomorrow, but I am imagining that we’ll see lower prices for the next 4 days until their deal’s pricing closes. I’ll keep monitoring Free Edgar for SEC disclosures, and hope these private placements conclude so the stock can run!
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