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

Rhea-AI Filing Summary

Reporting person: Kenneth A. Moss, Chief Technology Officer of BILL Holdings, Inc. reported a change in beneficial ownership related to performance-based restricted stock units.

On 08/19/2025 Mr. Moss was credited with 23,789 performance stock units (PSUs) that convert one-for-one into common shares. The report shows 23,789 shares beneficially owned following the transaction held directly at a reported price of $0. The PSUs were certified as earned by the Audit Committee on 08/19/2025 and vest over three years: one-third vests on 08/28/2025 and the remaining two-thirds vest quarterly over the subsequent two years, subject to continued service.

Positive

• Performance criteria were met as certified by the Audit Committee on 08/19/2025, leading to PSU settlement
• Clear vesting schedule disclosed: 1/3 on 08/28/2025 and the remainder vesting quarterly over two years

Negative

• None.

Insights

Financial Analyst

TL;DR: Insider received earned PSUs equal to 23,789 shares; transaction reflects compensation vesting, not an open-market trade.

This Form 4 documents the conversion of previously granted performance-based restricted stock units into shares following certification of performance criteria. The event increases the reporting person's direct share count by 23,789 at no cash purchase price, consistent with equity compensation settlements. For investors, this is a routine compensation-related issuance rather than a sale or purchase that signals immediate insider sentiment.

Corporate Governance Expert

TL;DR: Audit Committee certified performance metrics and PSUs began vesting per schedule; disclosure aligns with standard governance practices.

The filing states the Audit Committee certified achievement of performance criteria on 08/19/2025, triggering PSU settlement for the CTO. The explicit vesting schedule and certification date are disclosed, which supports clarity and governance transparency. No indications of deviations from plan terms are present in the document.

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^*

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)
08/19/2025

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
Performance Stock Units(1)	(2)	08/19/2025		A		23,789		(3)	(3)	Common Stock	23,789	$0	23,789	D

Explanation of Responses:

1. Represents performance-based restricted stock units ("PSUs") previously reported on September 18, 2024, that were earned by the Reporting Person upon the achievement of certain performance criteria as certified by the Audit Committee of the Issuer's Board of Directors on August 19, 2025.

2. Each PSU represents a conditional right to receive one share of the Issuer's Common Stock.

3. The PSUs vest and settle over three years; 1/3rd vests on August 28, 2025, 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, Attorney-in-Fact	08/21/2025
	** 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

Who filed the Form 4 for BILL (BILL)?

The Form 4 was filed for Kenneth A. Moss, the Chief Technology Officer of BILL Holdings, Inc.

How many shares did the reporting person receive on 08/19/2025?

The reporting person was credited with 23,789 performance stock units, equivalent to 23,789 shares of common stock.

What price was reported for the shares on the Form 4?

The transaction is reported with a price of $0, reflecting settlement of earned PSUs rather than a cash purchase.

When do the vested PSUs become exercisable or settle into shares?

The PSUs vest and settle over three years: one-third vests on 08/28/2025, and the remaining two-thirds vest quarterly over the following two years, subject to continued service.

When was the Form 4 signed or submitted?

The document bears a signature by an attorney-in-fact, /s/ Rajesh Aji, dated 08/21/2025.