4/A: AvidXchange CEO Corrects Stock Option Exercise Price in Amended SEC Filing
SEC Filing (Form 4/A)
Michael Praeger, CEO of AvidXchange Holdings, files an amendment to a previous SEC Form 4 to correct the exercise price of an employee stock option.
Summary
- Michael Praeger, the CEO of AvidXchange Holdings, Inc., filed an amended Form 4 with the SEC on March 12, 2024.
- This amendment corrects an error in the original filing from March 8, 2024, regarding the exercise price of an employee stock option.
- The corrected filing pertains to an employee stock option granting the right to buy 346,935 shares of AvidXchange common stock.
- The exercise price of the option is $12.34.
- The option was granted on March 6, 2024, and expires on March 6, 2034.
- The option vests 25% on the first anniversary of the vesting commencement date (February 15, 2024) and quarterly thereafter over 12 quarters.
Sentiment
Score: 5
Explanation: The document is a routine correction of a previous filing, and does not contain any information that would significantly impact investor sentiment.
Industry Context
This filing is a routine disclosure related to executive compensation and stock options, common in publicly traded companies. It provides transparency into the equity-based compensation of AvidXchange's CEO.
Key Dates
| Date | Description |
|---|---|
| 02/15/2024 | Vesting commencement date for the employee stock option. |
| 03/06/2024 | Date of the transaction (grant of the employee stock option). |
| 03/06/2034 | Expiration date of the employee stock option. |
| 03/08/2024 | Date of original Form 4 filing (which contained an error). |
| 03/12/2024 | Date of amended Form 4/A filing. |
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