Form 4: AvidXchange Holdings Executive Angelic Gibson Reports Stock Transactions
SEC Form 4 Filing
Angelic Gibson, Chief Information Officer and Senior Vice President at AvidXchange Holdings, reported the acquisition and disposal of common stock and restricted stock units to cover tax obligations.
Summary
- On May 15 and 16, 2024, Angelic Gibson, Chief Information Officer and Senior Vice President of AvidXchange Holdings, Inc., engaged in transactions involving the company's common stock and restricted stock units.
- Gibson acquired shares through the vesting of restricted stock units and disposed of shares to cover tax withholding obligations.
- On May 15, 2024, 4,720 and 10,883 shares were acquired through restricted stock units converting into common stock.
- Also on May 15, 2024, 1,492 shares were sold at a weighted average price of $11.2363, followed by sales of 3,438 shares and 3,226 shares at the same price.
- On May 16, 2024, Gibson sold 663 shares at a weighted average price of $11.207, followed by sales of 1,529 shares and 1,434 shares at the same price.
- Following these transactions, Gibson directly owns 434,427 shares of AvidXchange Holdings, Inc.
- The sales were executed in multiple trades at prices ranging from $11.16 to $11.38 on May 15 and from $11.12 to $11.27 on May 16.
- These transactions were related to the vesting and settlement of restricted stock units granted on February 19, 2021, and March 16, 2022, with vesting schedules of 25% on the first anniversary of the vesting commencement date and quarterly thereafter.
Sentiment
Score: 5
Explanation: This is a neutral disclosure of stock transactions by an executive. It doesn't inherently indicate positive or negative sentiment about the company's performance.
Industry Context
This Form 4 filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It provides transparency into the transactions of company insiders.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in ownership by a company executive.
- Employees holding similar equity compensation may be interested in the details of these transactions for their own financial planning.
Key Dates
| Date | Description |
|---|---|
| February 19, 2021 | Reporting person was granted 75,492 restricted stock units, vesting 25% on the first anniversary of the vesting commencement date and quarterly thereafter. |
| February 15, 2021 | Vesting commencement date for restricted stock units granted on February 19, 2021. |
| March 16, 2022 | Reporting person was granted 174,129 restricted stock units, vesting 25% on the first anniversary of the vesting commencement date and quarterly thereafter. |
| February 15, 2022 | Vesting commencement date for restricted stock units granted on March 16, 2022. |
| 05/15/2024 | Date of transactions involving common stock and restricted stock units. |
| 05/16/2024 | Date of transactions involving common stock. |
| 05/17/2024 | Date of signature of the Form 4 filing. |
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