diff --git a/CHANGELOG.md b/CHANGELOG.md
index b44fa94b77..f94a43acac 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,20 @@
 # PowerShell Editor Services Release History
 
+## v4.0.0
+### Monday, November 18, 2024
+
+See more details at the GitHub Release for [v4.0.0](https://github.com/PowerShell/PowerShellEditorServices/releases/tag/v4.0.0).
+
+Drop support for PowerShell <7.4 and logging overhaul
+
+PowerShell 7.2 LTS and 7.3 are now past end-of-support and are now unsupported.
+This is an incompatible API change so we're bumping the major version.
+Please update to PowerShell 7.4 LTS going forward.
+
+This release contains a logging overhaul which purposely removes our
+dependency on Serilog and should lead to improved stability with
+PowerShell 5.1 (by avoiding a major GAC assembly conflict).
+
 ## v3.21.0
 ### Wednesday, October 30, 2024
 
diff --git a/PowerShellEditorServices.Common.props b/PowerShellEditorServices.Common.props
index cc0dc7531f..1bc5e8f5cb 100644
--- a/PowerShellEditorServices.Common.props
+++ b/PowerShellEditorServices.Common.props
@@ -1,6 +1,6 @@
 <Project>
   <PropertyGroup>
-    <VersionPrefix>3.21.0</VersionPrefix>
+    <VersionPrefix>4.0.0</VersionPrefix>
     <VersionSuffix></VersionSuffix>
     <Company>Microsoft</Company>
     <Copyright>© Microsoft Corporation.</Copyright>
diff --git a/module/PowerShellEditorServices/PowerShellEditorServices.psd1 b/module/PowerShellEditorServices/PowerShellEditorServices.psd1
index 02e3385b6c..f93cdb0359 100644
--- a/module/PowerShellEditorServices/PowerShellEditorServices.psd1
+++ b/module/PowerShellEditorServices/PowerShellEditorServices.psd1
@@ -19,7 +19,7 @@ RootModule = if ($PSEdition -eq 'Core')
     }
 
 # Version number of this module.
-ModuleVersion = '3.21.0'
+ModuleVersion = '4.0.0'
 
 # ID used to uniquely identify this module
 GUID = '9ca15887-53a2-479a-9cda-48d26bcb6c47'