BILL CPO sells 10,754 shares at about $49 each
After RSU/PSU conversions, Michael Cieri sold 10,754 shares at about $49.13 under a Dec. 2, 2025 Rule 10b5-1 plan.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Form Type
4
Rhea-AI Filing Summary
BILL Holdings, Inc. insider Michael Cieri, Chief Product Officer, reported a net sale-oriented set of transactions. On August 28, 2026, RSUs and PSUs covering 19,428 shares of common stock were converted, resulting in 12,897 and 6,531 common shares, respectively, with 8,674 shares delivered to satisfy tax withholding. Following these equity awards, on August 31, 2026, Cieri sold 10,754 shares of common stock at a weighted average price of $49.1338 per share (range $48.84–$49.41) under a Rule 10b5-1 trading plan adopted on December 2, 2025.
Insider Trade Summary 10b5-1
Exercise and sale activity reported; no spread calculated
Exercise and Sale
6 txns
Insider
Cieri Michael
Role
Chief Product Officer
Sold
10,754 shs ($528K)
Approx. gross sale proceeds
$528K
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock F4, F5 | 10,754 | $49.1338 | $528K |
| Exercise | Restricted Stock Unit F1, F6 | 12,897 | $0.00 | $0.00 |
| Exercise | Performance Stock Unit F2, F7 | 6,531 | $0.00 | $0.00 |
| Exercise | Common Stock F1 | 12,897 | -- | -- |
| Exercise | Common Stock F2 | 6,531 | -- | -- |
| Tax Withholding | Common Stock F3 | 8,674 | $50.31 | $436K |
Holdings After Transaction:
Restricted Stock Unit — 141,873 contracts (Direct);
Performance Stock Unit — 13,059 contracts (Direct);
Common Stock — 997 shares (Direct)
Footnotes (7)
- F1. Each Restricted Stock Unit ("RSU") represents a contingent right to receive one share of the Issuer's Common Stock.
- F2. Each Performance Stock Unit ("PSU") represents a conditional right to receive one share of the Issuer's Common Stock.
- F3. Represents shares withheld to satisfy the tax withholding obligation in connection with the vesting of RSUs and PSUs.
- F4. The sale reported on this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 2, 2025.
- F5. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $48.84 to $49.41 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.
- F6. The RSUs vest as to 1/4th of the total shares on May 28, 2026, and thereafter 1/16th of the total shares vest quarterly over three years, subject to the continued service of the Reporting Person on each vesting date.
- F7. The PSUs vest and settle over three years; 1/3rd vests on August 28, 2026, 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.
Key Figures
Shares sold: 10,754 shares
Weighted average sale price: $49.1338 per share
RSUs converted to common stock: 12,897 shares
+4 more
7 metrics
Shares sold
10,754 shares
Common stock sale on August 31, 2026 under Rule 10b5-1 plan
Weighted average sale price
$49.1338 per share
Sale of 10,754 BILL common shares; trades ranged $48.84–$49.41
RSUs converted to common stock
12,897 shares
RSUs converted into BILL common stock on August 28, 2026
PSUs converted to common stock
6,531 shares
PSUs converted into BILL common stock on August 28, 2026
Shares delivered for tax withholding
8,674 shares
Common stock delivered to satisfy tax withholding on August 28, 2026
RSUs outstanding after transaction
141,873 RSUs
Restricted Stock Units held after August 28, 2026 conversion
PSUs outstanding after transaction
13,059 PSUs
Performance Stock Units held after August 28, 2026 conversion
Key Terms
Rule 10b5-1 trading plan, Restricted Stock Unit, Performance Stock Unit, tax withholding obligation, +1 more
5 terms
Rule 10b5-1 trading plan regulatory
"The sale reported ... 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.
Restricted Stock Unit financial
"Each Restricted Stock Unit ("RSU") represents a contingent right to receive"
A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.
Performance Stock Unit financial
"Each Performance Stock Unit ("PSU") represents a conditional right to receive"
A performance stock unit is a type of reward companies give to employees, usually managers, that depends on how well the company performs over time. If the company hits specific goals, the employee earns shares of stock, like earning a prize for reaching certain levels in a game. It motivates employees to work hard because their rewards are tied to the company's success.
tax withholding obligation financial
"Represents shares withheld to satisfy the tax withholding obligation"
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.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transactions did BILL (BILL Holdings, Inc.) report for Michael Cieri?
Michael Cieri reported the conversion of RSUs and PSUs into 19,428 shares of BILL common stock on August 28, 2026, delivery of 8,674 shares to cover tax withholding, and a sale of 10,754 shares on August 31, 2026 under a Rule 10b5-1 plan.
What equity awards for BILL (BILL) vested for Michael Cieri in August 2026?
On August 28, 2026, 12,897 RSUs and 6,531 PSUs converted into an equal number of BILL common shares. Footnotes describe ongoing vesting schedules over three years, subject to his continued service.
What are Michael Cieri’s remaining RSU and PSU holdings after these BILL (BILL) transactions?
After the August 28, 2026 transactions, he reported 141,873 RSUs and 13,059 PSUs remaining, each representing a right to receive one share of BILL common stock, subject to their respective vesting conditions.
AI-generated analysis. How Rhea-AI works. Not financial advice.
