BILL Form 4: Kenneth Moss Receives 45,650 RSUs with Quarterly Vesting

Rhea-AI Filing Summary

BILL Holdings, Inc. (BILL) reporting person Kenneth A. Moss, Chief Technology Officer, reported awards of Restricted Stock Units (RSUs) on 09/15/2025. The filing shows 45,650 RSUs granted to Mr. Moss as direct holdings and 633 RSUs reported as indirectly held (attributable to the reporting person’s spouse, with a disclaimer). Each RSU converts to one share and vests in four equal quarterly installments over one year beginning November 28, 2025, subject to continued service. The reported grants have a $0 per-share price (i.e., stock awards rather than purchases). The Form 4 was signed by attorney-in-fact on 09/17/2025.

Positive

• Significant RSU grant (45,650 units) aligns the CTO's compensation with company performance and retention through vesting
• Clear vesting schedule: four equal quarterly installments beginning 11/28/2025, providing transparency on timing of potential share delivery

Negative

• None.

Insights

Financial Analyst

TL;DR: Executive received time‑based RSUs totaling 46,283 units, vesting over one year to align compensation with continued service.

The grant of 45,650 RSUs directly and 633 RSUs indirectly is structured as time‑based equity compensation with quarterly vesting over one year beginning November 28, 2025. This is a routine, non‑cash award intended to retain a senior executive and tie pay to continued service. The awards convert one‑for‑one into common shares and were reported as having no per‑share purchase price, consistent with standard restricted stock unit grants rather than open‑market purchases.

Corporate Governance Expert

TL;DR: The filing documents a standard service‑based equity grant to the CTO, with spouse holdings disclosed and a formal disclaimer.

The Form 4 discloses both direct RSUs and indirect RSUs held by the reporting person’s spouse, accompanied by a standard disclaimer of beneficial ownership. Vesting in four quarterly installments over one year reflects a short retention horizon compared with multi‑year grants seen elsewhere, but the structure and disclosure conform to Section 16 reporting requirements and appear procedural rather than exceptional.

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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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^*

Moss Kenneth A

(Last) (First) (Middle)

C/O BILL HOLDINGS, INC.

6220 AMERICA CENTER DR., SUITE 100

(Street)

SAN JOSE CA 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)
	Chief Technology Officer

3. Date of Earliest Transaction (Month/Day/Year)
09/15/2025

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

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)	09/15/2025		A		45,650		(2)	(2)	Common Stock	45,650	$0	45,650	D
Restricted Stock Units	(1)	09/15/2025		A		633		(2)	(2)	Common Stock	633	$0	633	I	See Footnote(3)

Explanation of Responses:

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

2. The RSUs vest in 4 equal quarterly installments over one year, beginning November 28, 2025, subject to the continuing service of the Reporting Person on each vesting date.

3. Represents shares held by the Reporting Person's spouse. The Reporting Person disclaims beneficial ownership of the shares except to the extent of the Reporting Person's pecuniary interest therein, if any, and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of the shares for purposes of Section 16 of the Securities Exchange Act of 1934, as amended (the "Act"), or for any other purpose.

	/s/ Rajesh Aji, Attorney-in-Fact	09/17/2025
	** 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.

FAQ

What did Kenneth A. Moss report on Form 4 for BILL (BILL)?

The Form 4 reports grants of 45,650 RSUs directly and 633 RSUs indirectly (spouse), with a transaction date of 09/15/2025.

When do the RSUs vest for the BILL grant to the CTO?

The RSUs vest in four equal quarterly installments over one year, beginning on November 28, 2025, subject to continued service.

What is the economic cost to the reporting person for these RSUs?

The RSUs are reported with a $0 per‑share price, indicating they are equity awards rather than purchases.

How many shares will each RSU convert into for BILL?

Each Restricted Stock Unit represents a contingent right to receive one share of BILL common stock upon vesting.

Who signed the Form 4 for the reporting person and when?

The Form 4 was signed by /s/ Rajesh Aji, Attorney‑in‑Fact on 09/17/2025.