diff --git a/CHANGELOG.md b/CHANGELOG.md
index 845d1b6..62e93e2 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,6 +1,9 @@
 # CHANGELOG
 
 ## unreleased
+## 5.4.0
+* Shrink gem size and export only needed files to work [#742](https://github.com/aasm/aasm/pull/742), thanks to [brunoarueira](https://github.com/brunoarueira)
+* Lock redis-objects to 1.6.0 as 1.7.0 has breaking changes [#796](https://github.com/aasm/aasm/pull/796)
 ## 5.3.1
 * Fix fire! with string argument [#787](https://github.com/aasm/aasm/issues/787), in PR[#788](https://github.com/aasm/aasm/pull/788) thanks to [norman](https://github.com/norman)
 
diff --git a/lib/aasm/version.rb b/lib/aasm/version.rb
index 2fb3a86..b23825e 100644
--- a/lib/aasm/version.rb
+++ b/lib/aasm/version.rb
@@ -1,3 +1,3 @@
 module AASM
-  VERSION = "5.3.1"
+  VERSION = "5.4.0"
 end