AvidXchange Director Drees Converts RSUs, Sells 23,704 Shares at $9.90

Rhea-AI Filing Summary

Insider transactions by AvidXchange director and president Daniel Drees are reported on Form 4 showing equity movements tied to the vesting of restricted stock units and subsequent open-market dispositions. The filing shows 16,324 restricted stock units vested and converted into common stock, increasing his direct holdings by that amount to 1,183,510 shares. The report also records three separate dispositions executed at $9.90 per share totaling 23,704 shares, reducing his direct holdings sequentially to 1,159,806 shares. The filing explains the vested RSUs were part of a 261,194-RSU grant with time-based quarterly vesting beginning from a February 2022 commencement date. The form is filed individually and executed under power of attorney.

Positive

• Clear disclosure of RSU vesting schedule and conversion into common stock
• Substantial retained ownership: reporting person remains direct beneficial owner of 1,159,806 shares after transactions
• Sales executed at a consistent price ($9.90), indicating orderly disposition

Negative

• Net disposals of 23,704 shares reduced direct holdings, which could modestly lower insider exposure
• Form executed by attorney-in-fact, not the reporting person, which requires reliance on power-of-attorney accuracy

Insights

Financial Analyst

TL;DR: Insider received vested RSUs then sold a modest number of shares at $9.90, leaving substantial remaining direct ownership.

The transactions indicate routine executive equity mechanics: time-based RSU vesting converted 16,324 units into common stock and the reporting person subsequently sold portions in the open market at $9.90 per share, reducing holdings by 23,704 shares overall. From an ownership and dilution standpoint, the director retains large direct ownership of over 1.15 million shares, so these sales are small relative to total holdings and likely reflect diversification or tax-liability management rather than a material change in control.

Corporate Governance Expert

TL;DR: Disclosure is standard and complete about grant vesting schedule and conversions; timing and power-of-attorney signature are noted.

The Form 4 provides clear linkage between the original RSU grant terms and the reported conversion events, including vesting cadence and commencement date. The multiple dispositions at a uniform price and the use of an attorney-in-fact signature are properly disclosed. There is no indication of related-party transactions or plan-based exceptions; filings appear compliant with Section 16 reporting requirements.

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

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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^*

Drees Daniel

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
08/15/2025

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	08/15/2025		M		16,324	A	(1)	1,183,510	D
Common Stock	08/15/2025		F		7,134	D	$9.9	1,176,376	D
Common Stock	08/15/2025		F		8,924	D	$9.9	1,167,452	D
Common Stock	08/15/2025		F		7,646	D	$9.9	1,159,806	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
Restricted Stock Units	(1)	08/15/2025		M			16,324	(2)	(2)	Common Stock	16,324	$0	32,650	D

Explanation of Responses:

1. Upon vesting, restricted stock units convert into common stock on a one-for-one-basis.

2. On March 16, 2022, the reporting person was granted 261,194 restricted stock units, vesting 25% on the first anniversary of the vesting commencement date and quarterly thereafter. The vesting commencement date was February 15, 2022.

	/s/ Ryan Stahl, Attorney-in-Fact for Daniel Drees	08/19/2025
	** 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 insider transactions did Daniel Drees report for AVDX?

He reported 16,324 RSUs vesting and converting to common stock and three dispositions totaling 23,704 shares at $9.90 per share.

How many AVDX shares does Daniel Drees beneficially own after these transactions?

He reported direct beneficial ownership of 1,159,806 shares after the reported transactions.

What was the source of the vested shares reported on the Form 4?

The shares converted from restricted stock units granted on March 16, 2022, under a 261,194-RSU award with quarterly vesting beginning February 15, 2022.

At what price were the disposed AVDX shares sold?

The three reported dispositions were executed at $9.90 per share.

Was the Form 4 filed individually or jointly?

The form was filed by one reporting person (individual filing).