[4] – Drummond Lance F. (CIK 0001648472)

Rhea-AI Filing Summary

AvidXchange Holdings, Inc. filed a Form 4 reporting a merger-related share conversion. On 10/15/2025, a director disposed of 82,120 shares of Common Stock (code D), leaving 0 shares beneficially owned after the transaction.

Per the merger terms, each outstanding share of Common Stock was automatically converted at the Effective Time into the right to receive $10.00 in cash, without interest. Outstanding restricted stock units that did not vest at the Effective Time were converted into cash awards equal to the number of underlying shares multiplied by $10.00, subject to the award terms.

Insights

M&A and Equity Compensation Analyst

Merger closed; shares converted to $10.00 cash; holdings now 0.

The filing shows a director’s 82,120-share disposition on 10/15/2025 tied to a completed merger. At the Effective Time, each share converted into a right to receive $10.00 cash, which explains the reduction to 0 shares beneficially owned following the transaction.

Equity awards were addressed: unvested restricted stock units were converted into cash awards equal to shares times $10.00, consistent with the merger agreement’s treatment. Actual outcomes reflect the merger’s terms; holder-level decisions are not involved here.

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

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X

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

1. Name and Address of Reporting Person^*

Drummond Lance F.

(Last) (First) (Middle)

C/O AVIDXCHANGE HOLDINGS, INC.

1210 AVIDXCHANGE LANE

(Street)

CHARLOTTE NC 28206

(City) (State) (Zip)

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

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

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

3. Date of Earliest Transaction (Month/Day/Year)
10/15/2025

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	10/15/2025		D		82,120	D	(1)(2)	0	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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. In connection with the terms of an Agreement and Plan of Merger, dated May 6, 2025 (as it may be amended from time to time, the "Merger Agreement"), by and among the Issuer, Arrow Borrower 2025, Inc. ("Parent"), and Arrow Merger Sub 2025, Inc., a wholly owned subsidiary of Parent ("Merger Sub"), Merger Sub merged with and into the Issuer (the "Merger"), with the Issuer surviving the Merger as a wholly owned subsidiary of Parent (the "Effective Time"). At the Effective Time, each outstanding share of Common Stock was automatically converted into the right to receive $10.00 in cash, without interest (the "Merger Consideration").

2. At the Effective Time, each outstanding restricted stock unit that does not vest upon the occurrence of the Effective Time was automatically substituted and immediately converted into a cash award equal to the product of (i) the aggregate number of shares of Common Stock underlying such unvested restricted stock unit immediately prior to the Effective Time multiplied by (ii) the Merger Consideration, subject to the terms and conditions of the corresponding award.

	/s/ Ryan Stahl, Attorney-in-Fact for Lance Drummond	10/15/2025
	** 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).
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FAQ

What did AVDX’s Form 4 disclose?

A director disposed of 82,120 shares of Common Stock on 10/15/2025, tied to a merger, resulting in 0 shares beneficially owned after the transaction.

What cash consideration did AVDX shareholders receive in the merger?

Each outstanding share was converted into the right to receive $10.00 in cash, without interest, at the Effective Time.

How were AVDX restricted stock units treated?

Unvested RSUs were converted into cash awards equal to the underlying shares multiplied by $10.00, subject to award terms.

Who was the reporting person and their role at AVDX?

The reporting person was a Director of AvidXchange Holdings, Inc.

What is the reporting person’s post-transaction ownership?

Following the reported transaction, the filing lists 0 shares beneficially owned.

What was the transaction date on the Form 4?

The transaction date reported was 10/15/2025.