diff --git a/NEWS b/NEWS
index d7dee7268..498fd99d8 100644
--- a/NEWS
+++ b/NEWS
@@ -1,3 +1,10 @@
+3.12.1
+======
+* Fix crash when running as X11 compositor [Adel; #727115]
+
+Contributors:
+  Matthias Clasen, Adel Gadllah, Florian Müllner, Jasper St. Pierre
+
 3.12.0
 ======
 * Fix grab issue with SSD xwayland windows [Rui; #726123]
diff --git a/configure.ac b/configure.ac
index b5905a74a..b972615d9 100644
--- a/configure.ac
+++ b/configure.ac
@@ -3,7 +3,7 @@ AC_CONFIG_MACRO_DIR([m4])
 
 m4_define([mutter_major_version], [3])
 m4_define([mutter_minor_version], [12])
-m4_define([mutter_micro_version], [0])
+m4_define([mutter_micro_version], [1])
 
 m4_define([mutter_version],
           [mutter_major_version.mutter_minor_version.mutter_micro_version])