diff --git a/docs/source/release-notes/5.0.2.rst b/docs/source/release-notes/5.0.2.rst
new file mode 100644
index 00000000..322d202c
--- /dev/null
+++ b/docs/source/release-notes/5.0.2.rst
@@ -0,0 +1,16 @@
+5.0.2 -- 2022-08-01
+-------------------
+
+You can view the `5.0.2 milestone`_ on GitHub for more details.
+
+Bugs Fixed
+~~~~~~~~~~
+
+- Fix execution on python == 3.8.0 (See also :issue:`1637`, :pull:`1641`).
+- Fix config discovery when home does not exist (See also :issue:`1640`,
+  :pull:`1642`).
+
+
+.. all links
+.. _5.0.2 milestone:
+    https://github.com/PyCQA/flake8/milestone/44
diff --git a/docs/source/release-notes/index.rst b/docs/source/release-notes/index.rst
index aff0733f..7a0e10ff 100644
--- a/docs/source/release-notes/index.rst
+++ b/docs/source/release-notes/index.rst
@@ -9,6 +9,7 @@ with the newest releases first.
 ==================
 
 .. toctree::
+   5.0.2
    5.0.1
    5.0.0
 
diff --git a/src/flake8/__init__.py b/src/flake8/__init__.py
index 04c4c62c..8a50d29d 100644
--- a/src/flake8/__init__.py
+++ b/src/flake8/__init__.py
@@ -17,7 +17,7 @@
 LOG = logging.getLogger(__name__)
 LOG.addHandler(logging.NullHandler())
 
-__version__ = "5.0.1"
+__version__ = "5.0.2"
 __version_info__ = tuple(int(i) for i in __version__.split(".") if i.isdigit())
 
 _VERBOSITY_TO_LOG_LEVEL = {