diff --git a/NEWS b/NEWS
index 65d5693e4..714df43cf 100644
--- a/NEWS
+++ b/NEWS
@@ -1,3 +1,14 @@
+40.alpha.1.1
+============
+* Adapt to settings moving to gsettings-desktop-schemas [Florian; !1573]
+* Misc. bug fixes [Georges, Florian; !1571, !1574]
+
+Contributors:
+  Florian Müllner, Georges Basile Stavracas Neto
+
+Translators:
+  Марко Костић [sr], Marek Černocký [cs], Fabio Tomat [fur]
+
 40.alpha.1
 ==========
 * Restore app picker fade during swipes [Georges, Florian; !1519, !1569]
diff --git a/meson.build b/meson.build
index f1991d389..5acbe9cbc 100644
--- a/meson.build
+++ b/meson.build
@@ -1,5 +1,5 @@
 project('gnome-shell', 'c',
-  version: '40.beta',
+  version: '40.alpha.1.1',
   meson_version: '>= 0.53.0',
   license: 'GPLv2+'
 )
@@ -25,7 +25,7 @@ gio_req = '>= 2.56.0'
 gi_req = '>= 1.49.1'
 gjs_req = '>= 1.65.1'
 gtk_req = '>= 3.15.0'
-mutter_req = '>= 40.beta'
+mutter_req = '>= 40.alpha.1.1'
 polkit_req = '>= 0.100'
 schemas_req = '>= 3.33.1'
 startup_req = '>= 0.11'
diff --git a/subprojects/extensions-app/data/metainfo/org.gnome.Extensions.metainfo.xml.in b/subprojects/extensions-app/data/metainfo/org.gnome.Extensions.metainfo.xml.in
index 9f5c56a6f..b68ac81e4 100644
--- a/subprojects/extensions-app/data/metainfo/org.gnome.Extensions.metainfo.xml.in
+++ b/subprojects/extensions-app/data/metainfo/org.gnome.Extensions.metainfo.xml.in
@@ -39,7 +39,7 @@
   </description>
 
   <releases>
-    <release version="40.beta" type="development" date="2021-01-14"/>
+    <release version="40.alpha.1.1" type="development" date="2021-01-18"/>
     <release version="40.alpha.1" type="development" date="2021-01-14"/>
     <release version="40.alpha" type="development" date="2020-12-02">
       <description>
diff --git a/subprojects/extensions-app/meson.build b/subprojects/extensions-app/meson.build
index 7a21acc7d..b1a8f58d1 100644
--- a/subprojects/extensions-app/meson.build
+++ b/subprojects/extensions-app/meson.build
@@ -1,5 +1,5 @@
 project('gnome-extensions-app',
-  version: '40.beta',
+  version: '40.alpha.1.1',
   meson_version: '>= 0.53.0',
   license: 'GPLv2+'
 )
diff --git a/subprojects/extensions-tool/meson.build b/subprojects/extensions-tool/meson.build
index 824b1bbc4..20a8b3279 100644
--- a/subprojects/extensions-tool/meson.build
+++ b/subprojects/extensions-tool/meson.build
@@ -1,5 +1,5 @@
 project('gnome-extensions-tool', 'c',
-  version: '40.beta',
+  version: '40.alpha.1.1',
   meson_version: '>= 0.53.0',
   license: 'GPLv2+'
 )
diff --git a/subprojects/shew/meson.build b/subprojects/shew/meson.build
index 304d2ab2d..13dec92ad 100644
--- a/subprojects/shew/meson.build
+++ b/subprojects/shew/meson.build
@@ -1,5 +1,5 @@
 project('shew', 'c',
-  version: '40.beta',
+  version: '40.alpha.1.1',
   meson_version: '>= 0.53.0',
   license: 'LGPLv2+',
 )