BILL Form 4: Executive RSU/PSU Vestings; 2,216 Shares Withheld at $49.20

Q: Why were shares disposed in this Form 4 filing for BILL?

The filing explains that shares were withheld to satisfy tax withholding obligations in connection with the vesting of RSUs and PSUs.

Q: How many performance stock units (PSUs) vested for the reporting person?

The filing shows 790 PSUs acquired on 08/28/2025 , with vesting mechanics described in the explanation section.

Q: What are the vesting schedules disclosed for the RSUs?

RSU grants vest in 16 equal quarterly installments over four years for several grant vintages beginning on 11/28/2021, 11/28/2022, 11/28/2023 and 02/28/2025; one PSU grant vests over three years with partial and quarterly vesting.

[Form 4] BILL Holdings, Inc. Insider Trading Activity

Filing Impact

(Neutral)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

Rajesh Aji, Chief Legal & Compliance Officer of BILL Holdings, Inc. (BILL), reported multiple equity transactions on 08/28/2025. Restricted stock units (RSUs) and performance stock units (PSUs) vested, resulting in the acquisition of 5,397 shares, 790 performance shares, and additional RSU settlements of 558, 1,787, 737 and 2,315 units across grant schedules. The filing shows 2,216 shares disposed in a transaction coded F at a price of $49.20, noted as shares withheld to satisfy tax withholding obligations, which reduced beneficial ownership to 13,269 shares for one reported line and 15,485 shares on another. Vesting schedules and service conditions for each RSU/PSU grant are disclosed in the filing.

Insights

TL;DR: Insider received multiple RSU/PSU vestings while a portion of shares was withheld/sold to meet tax obligations, modestly changing ownership.

The filing documents routine equity compensation vesting for an executive (CLO & CCO) with multiple grant vintages vesting over multi-year schedules. The disposal of 2,216 shares at $49.20 appears tied to tax withholding rather than a discretionary open-market sale, limiting potential signal of active liquidation. Net changes show increased economic exposure through new share issuances from vested RSUs/PSUs, but reported beneficial ownership figures vary by reported line, suggesting multiple holdings/accounts. For investors, this is a standard insider compensation update with limited standalone corporate impact.

TL;DR: Transactions reflect standard executive compensation vesting and tax-withholding mechanics, not unusual governance concerns.

The disclosure includes clear vesting schedules and the nature of withheld shares to satisfy taxes, which aligns with common equity compensation practices. There is no indication of accelerated vesting due to a corporate event, no emergency disposals, and the reporting person remains an officer and director. Documentation is complete regarding vesting timelines and conditions, supporting transparency in insider reporting obligations.

09/02/2025 - 06:18 PM

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Aji Rajesh A.

(Last)

(First)

(Middle)

C/O BILL HOLDINGS, INC.

6220 AMERICA CENTER DR., SUITE 100

(Street)

SAN JOSE

95002

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
BILL Holdings, Inc. [ BILL ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	CLO & CCO

3. Date of Earliest Transaction (Month/Day/Year)
08/28/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	08/28/2025		M		5,397	A	⁽¹⁾	14,695	D
Common Stock	08/28/2025		M		790	A	⁽²⁾	15,485	D
Common Stock	08/28/2025		F		2,216⁽³⁾	D	$49.2	13,269	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Restricted Stock Unit	⁽¹⁾	08/28/2025		M			558	⁽⁴⁾	⁽⁴⁾	Common Stock	558	$0	0	D
Restricted Stock Unit	⁽¹⁾	08/28/2025		M			1,787	⁽⁵⁾	⁽⁵⁾	Common Stock	1,787	$0	7,145	D
Restricted Stock Unit	⁽¹⁾	08/28/2025		M			737	⁽⁶⁾	⁽⁶⁾	Common Stock	737	$0	5,894	D
Restricted Stock Unit	⁽¹⁾	08/28/2025		M			2,315	⁽⁷⁾	⁽⁷⁾	Common Stock	2,315	$0	30,093	D
Performance Stock Units	⁽²⁾	08/28/2025		M			790	⁽⁸⁾	⁽⁸⁾	Common Stock	790	$0	0	D

Explanation of Responses:

1. Each Restricted Stock Unit ("RSU") represents a contingent right to receive one share of the Issuer's Common Stock.

2. Each Performance Stock Unit ("PSU") represents a conditional right to receive one share of the Issuer's Common Stock.

3. Represents shares withheld to satisfy the tax withholding obligation in connection with the vesting of RSUs and PSUs.

4. The RSUs vest in 16 equal quarterly installments over four years, beginning November 28, 2021, subject to the continuing service of the Reporting Person on each vesting date.

5. The RSUs vest in 16 equal quarterly installments over four years, beginning November 28, 2022, subject to the continuing service of the Reporting Person on each vesting date.

6. The RSUs vest in 16 equal quarterly installments over four years, beginning November 28, 2023, subject to the continuing service of the Reporting Person on each vesting date

7. The RSUs vest in 16 equal quarterly installments over four years, beginning February 28, 2025, subject to the continuing service of the Reporting Person on each vesting date.

8. The PSUs vest over three years; 1/3rd vests on August 28, 2023, and thereafter the remaining 2/3rd will vest quarterly over two years, subject to the continuing service of the Reporting Person on each vesting date.

	/s/ Rajesh Aji	09/02/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Source:

FAQ

What insider transactions did BILL (BILL) report on 08/28/2025?

The reporting person recorded multiple RSU and PSU vestings on 08/28/2025 and a disposal of 2,216 shares at $49.20, with various post-transaction beneficial ownership figures disclosed.

Why were shares disposed in this Form 4 filing for BILL?

The filing explains that shares were withheld to satisfy tax withholding obligations in connection with the vesting of RSUs and PSUs.

How many performance stock units (PSUs) vested for the reporting person?

The filing shows 790 PSUs acquired on 08/28/2025, with vesting mechanics described in the explanation section.

What are the vesting schedules disclosed for the RSUs?

RSU grants vest in 16 equal quarterly installments over four years for several grant vintages beginning on 11/28/2021, 11/28/2022, 11/28/2023 and 02/28/2025; one PSU grant vests over three years with partial and quarterly vesting.

What is the reported ownership after the transactions?

Post-transaction beneficial ownership figures reported in the form include 14,695, 15,485, 13,269, and 30,093 shares on respective reported lines; the filing lists multiple lines reflecting different holdings/derivative positions.

AG真人官方

[Form 4] BILL Holdings, Inc. Insider Trading Activity

Insights

FAQ

What insider transactions did BILL (BILL) report on 08/28/2025?

Why were shares disposed in this Form 4 filing for BILL?

How many performance stock units (PSUs) vested for the reporting person?

What are the vesting schedules disclosed for the RSUs?

What is the reported ownership after the transactions?

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[Form 4] BILL Holdings, Inc. Insider Trading Activity

Insights

Securities Analyst neutral

Corporate Governance Expert neutral

FAQ

What insider transactions did BILL (BILL) report on 08/28/2025?

Why were shares disposed in this Form 4 filing for BILL?

How many performance stock units (PSUs) vested for the reporting person?

What are the vesting schedules disclosed for the RSUs?

What is the reported ownership after the transactions?

NYSE:BILL

BILL Rankings

BILL Latest News

BILL Latest SEC Filings

BILL Stock Data