Form 4: AvidXchange Holdings Officer Angelic Gibson Reports Stock Transactions
SEC Form 4
Angelic Gibson, Chief Information Officer and Senior Vice President at AvidXchange Holdings, reported the vesting and sale of common stock to cover tax obligations.
Summary
- On August 27, 2024, Angelic Gibson, a Chief Information Officer and Senior Vice President at AvidXchange Holdings, reported transactions involving the company's common stock.
- These transactions included the vesting of 4,716 and 10,883 restricted stock units, which converted into common stock on a one-for-one basis.
- Gibson also sold 2,183 shares at $7.9789, 5,036 shares at $7.9789 and 4,725 shares at $7.9789 to cover tax withholding obligations related to the vesting of the restricted stock units.
- Following these transactions, Gibson directly owns 438,082 shares of AvidXchange Holdings common stock.
- The sales were executed in multiple trades at prices ranging from $7.90 to $8.04, with the reported price reflecting the weighted average sale price.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions by a company officer. It doesn't inherently convey positive or negative sentiment, as it's a routine disclosure.
Industry Context
This Form 4 filing is a routine disclosure of insider transactions, which are common in publicly traded companies. It provides transparency into the trading activities of company executives.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the sale of shares by a company officer, but the overall impact is likely minimal.
Key Dates
| Date | Description |
|---|---|
| February 15, 2021 | Vesting commencement date for 75,492 restricted stock units granted on February 19, 2021. |
| February 19, 2021 | Date of grant for 75,492 restricted stock units, vesting 25% on the first anniversary of the vesting commencement date and quarterly thereafter. |
| February 15, 2022 | Vesting commencement date for 174,129 restricted stock units granted on March 16, 2022. |
| March 16, 2022 | Date of grant for 174,129 restricted stock units, vesting 25% on the first anniversary of the vesting commencement date and quarterly thereafter. |
| August 27, 2024 | Date of reported stock transactions, including vesting of restricted stock units and sales to cover tax obligations. |
| August 29, 2024 | Date of signature for the Form 4 filing. |
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