diff --git a/CHANGELOG.md b/CHANGELOG.md
index 9eae85b..585c23c 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -4,6 +4,8 @@ All notable changes to this project are documented in this file.
## [Unreleased]
+## [5.4.1] - 2026-10-13
+
### Fixed
- Output-stage diagnostics now point at the offending declaration instead of `Location.None`:
diff --git a/Version.props b/Version.props
index 125ac88..bcb46a7 100644
--- a/Version.props
+++ b/Version.props
@@ -4,7 +4,7 @@
- 5.4.0
+ 5.4.1