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

BILL CEO Lacerte sells 257K shares under plan

BILL’s CEO reported Rule 10b5-1 plan sales totaling 257,243 shares over two days through direct holdings and multiple family trusts and a foundation.

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Form Type
4

Rhea-AI Filing Summary

BILL Holdings, Inc. (BILL) reported that CEO and director Rene A. Lacerte and related entities sold an aggregate of 257,243 shares of Common Stock in open-market transactions on September 2–3, 2026, at weighted average prices around the high‑$40s to low‑$50s per share.

The sales were effected pursuant to a Rule 10b5-1 trading plan adopted on June 3, 2026. Some transactions involved shares held directly, while others involved shares held by various trusts and a foundation for which Lacerte and his spouse serve as trustees. After one September 3 sale, an additional trust held 168,877 shares indirectly.

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Insider Lacerte Rene A.
Role CEO
Sold 257,243 shs ($12.53M)
Type Security Shares Price Value
Sale Common Stock F1, F10, F11 10,970 $49.8636 $547K
Sale Common Stock F1, F12, F11 10,154 $50.4975 $513K
Sale Common Stock F1, F13, F14 15,372 $50.0148 $769K
Sale Common Stock F1, F15, F14 5,752 $50.6211 $291K
Sale Common Stock F1, F2 40,357 $47.9971 $1.94M
Sale Common Stock F1, F3 100,899 $48.5855 $4.90M
Sale Common Stock F1, F4, F5 11,765 $48.0125 $565K
Sale Common Stock F1, F6, F5 26,974 $48.5941 $1.31M
Sale Common Stock F1, F7, F8 10,636 $48.0125 $511K
Sale Common Stock F1, F9, F8 24,364 $48.5941 $1.18M
holding Common Stock F16 -- -- --
holding Common Stock F17 -- -- --
holding Common Stock F17 -- -- --
Holdings After Transaction: Common Stock — 0 shares (Direct); Common Stock — 168,877 shares (Indirect, See foornote); Common Stock — 2,141,874 shares (Indirect, See footnote)
Footnotes (17)
  1. F1. The sale reported on this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on June 3, 2026.
  2. F2. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $47.25 to $48.245 per share, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
  3. F3. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $48.25 to $48.83 per share, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
  4. F4. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $47.27 to $48.26 per share, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
  5. F5. The shares are held by Makahakama Trust U/A dated February 15, 2004, Rene A. Lacerte and Joyce A. Chung, Trustees.
  6. F6. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $48.27 to $48.83 per share, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
  7. F7. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $47.27 to $48.26 per share, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
  8. F8. The shares are held by the Makahakama Foundation.
  9. F9. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $48.27 to $48.83 per share, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
  10. F10. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $49.20 to $50.19 per share, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
  11. F11. The shares are held by a trust for which the Reporting Person and his spouse serve as trustees.
  12. F12. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $50.21 to $50.80 per share, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
  13. F13. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $49.4750 to $50.47 per share, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
  14. F14. The shares are held by an additional trust for which the Reporting Person and his spouse serve as trustees.
  15. F15. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $50.48 to $50.80 per share, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
  16. F16. The shares are held by Chung Lacerte Trust U/A dated February 15, 2004, Rene A. Lacerte and Joyce A. Chung, Trustees.
  17. F17. The shares are held by a family trust with Rene A. Lacerte and Joyce A. Chung, as Trustors, and Rene A. Lacerte, Joyce A. Chung, and Daniel C. Chung, as Trustees.
Total shares sold 257,243 shares Aggregate Common Stock sales reported for September 2–3, 2026
Direct sale on September 2, 2026 40,357 shares at $47.9971 per share Open-market sale from CEO’s direct holdings
Second direct sale on September 2, 2026 100,899 shares at $48.5855 per share Additional open-market sale from CEO’s direct holdings
Indirect sale via additional trust on September 3, 2026 15,372 shares at $50.0148 per share Open-market sale by an additional trust where CEO and spouse are trustees
Indirect holdings after one September 3 sale 168,877 shares Shares remaining in an additional trust after selling 15,372 shares
Trading plan adoption date June 3, 2026 Date CEO adopted Rule 10b5-1 trading plan governing these sales
Reported price range across transactions $47.9971–$50.6211 per share Range of weighted average prices for reported September 2–3, 2026 sales
Rule 10b5-1 trading plan regulatory
"The sale reported on this Form 4 was effected pursuant to a Rule 10b5-1 trading plan"
A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.
weighted average price financial
"The reported price in Column 4 is a weighted average price"
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
indirect ownership financial
"The shares are held by a trust for which the Reporting Person and his spouse serve"
open market or private transaction financial
"Sale in open market or private transaction"
trustees other
"Rene A. Lacerte and Joyce A. Chung, Trustees"
Trustees are people or a small group legally appointed to hold and manage assets, documents, or obligations on behalf of others and must act in those beneficiaries’ best interests. Think of them as a neutral guardian or custodian who enforces rules, protects assets, and makes decisions that can affect payments, corporate governance, or recovery in a default — all of which directly influence investor returns and risk.

FAQ

What did BILL (BILL) disclose about insider trading activity in this Form 4?
The Form 4 reports that CEO and director Rene A. Lacerte and related entities sold 257,243 shares of BILL Common Stock in open-market transactions on September 2–3, 2026, at weighted average prices in the high‑$40s to low‑$50s per share.

How many BILL (BILL) shares did the CEO sell directly versus indirectly?
On September 2, 2026, Rene A. Lacerte directly sold 40,357 shares at $47.9971 and 100,899 shares at $48.5855. Additional sales on both September 2 and 3 involved shares held indirectly through various trusts and a foundation.

Were the BILL (BILL) insider sales under a Rule 10b5-1 trading plan?
Yes. A footnote states the sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by Rene A. Lacerte on June 3, 2026, indicating the transactions were pre-arranged under that plan.

How many BILL (BILL) shares remain in at least one of the CEO’s indirect holdings after these sales?
After a September 3, 2026 indirect sale of 15,372 shares at a weighted average price of $50.0148, one additional trust for which Rene A. Lacerte and his spouse serve as trustees held 168,877 shares of BILL Common Stock.

Which entities besides the CEO are involved in the reported BILL (BILL) share sales?
Footnotes state that some shares are held by the Makahakama Trust U/A dated February 15, 2004, the Makahakama Foundation, a trust for which the CEO and his spouse serve as trustees, and an additional trust where they are also trustees.

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SEC Form 4
FORM 4UNITED 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*
Lacerte Rene A.
(Last)(First)(Middle)
C/O BILL HOLDINGS, INC.
6220 AMERICA CENTER DR., SUITE 100
(Street)
SAN JOSE CALIFORNIA 95002
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
BILL Holdings, Inc. [ BILL ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XDirector10% Owner
XOfficer (give title below)Other (specify below)
CEO
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
09/02/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

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)
CodeVAmount(A) or (D)Price
Common Stock09/02/2026S(1)40,357D$47.9971(2)100,899D
Common Stock09/02/2026S(1)100,899D$48.5855(3)0D
Common Stock09/02/2026S(1)11,765D$48.0125(4)87,828ISee footnote(5)
Common Stock09/02/2026S(1)26,974D$48.5941(6)60,854ISee footnote(5)
Common Stock09/02/2026S(1)10,636D$48.0125(7)194,364ISee footnote(8)
Common Stock09/02/2026S(1)24,364D$48.5941(9)170,000ISee footnote(8)
Common Stock09/03/2026S(1)10,970D$49.8636(10)173,279ISee footnote(11)
Common Stock09/03/2026S(1)10,154D$50.4975(12)163,125ISee footnote(11)
Common Stock09/03/2026S(1)15,372D$50.0148(13)168,877ISee foornote(14)
Common Stock09/03/2026S(1)5,752D$50.6211(15)163,125ISee footnote(14)
Common Stock1,708,749ISee footnote(16)
Common Stock135,000ISee footnote(17)
Common Stock135,000ISee footnote(17)
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Explanation of Responses:
1. The sale reported on this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on June 3, 2026.
2. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $47.25 to $48.245 per share, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
3. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $48.25 to $48.83 per share, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
4. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $47.27 to $48.26 per share, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
5. The shares are held by Makahakama Trust U/A dated February 15, 2004, Rene A. Lacerte and Joyce A. Chung, Trustees.
6. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $48.27 to $48.83 per share, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
7. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $47.27 to $48.26 per share, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
8. The shares are held by the Makahakama Foundation.
9. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $48.27 to $48.83 per share, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
10. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $49.20 to $50.19 per share, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
11. The shares are held by a trust for which the Reporting Person and his spouse serve as trustees.
12. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $50.21 to $50.80 per share, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
13. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $49.4750 to $50.47 per share, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
14. The shares are held by an additional trust for which the Reporting Person and his spouse serve as trustees.
15. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $50.48 to $50.80 per share, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
16. The shares are held by Chung Lacerte Trust U/A dated February 15, 2004, Rene A. Lacerte and Joyce A. Chung, Trustees.
17. The shares are held by a family trust with Rene A. Lacerte and Joyce A. Chung, as Trustors, and Rene A. Lacerte, Joyce A. Chung, and Daniel C. Chung, as Trustees.
/s/ Michael Dunn, Attorney-in-Fact09/04/2026
** Signature of Reporting PersonDate
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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

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