Form 4: AvidXchange Holdings Officer Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Angelic Gibson, Chief Information Officer and Senior Vice President of AvidXchange Holdings, sold shares to cover tax withholding obligations related to the vesting of restricted stock units.
Summary
- Angelic Gibson, a Chief Information Officer and Senior Vice President at AvidXchange Holdings, executed multiple transactions on February 28, 2025.
- These transactions involved the vesting of restricted stock units (RSUs) and the subsequent sale of shares to cover tax withholding obligations.
- Gibson sold a total of 23,592 shares of common stock at a weighted average price of $7.594 per share.
- The sales were executed in multiple trades with prices ranging from $7.53 to $7.70.
- Following these transactions, Gibson still beneficially owns 720,308 shares of AvidXchange Holdings common stock.
- The vesting of RSUs resulted in the acquisition of 4,720 and 10,883 shares, respectively.
Sentiment
Score: 5
Explanation: The document reflects a routine transaction (sale of shares for tax obligations) and doesn't indicate any significant positive or negative sentiment.
Industry Context
Sales of shares to cover tax obligations upon vesting of restricted stock units are a common practice among corporate executives.
Stakeholder Impact
- The sale of shares by a company officer could have a minor impact on shareholder sentiment.
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 Angelic Gibson was granted 75,492 restricted stock units. |
| February 15, 2022 | Vesting commencement date for 174,129 restricted stock units granted on March 16, 2022. |
| March 16, 2022 | Date Angelic Gibson was granted 174,129 restricted stock units. |
| February 28, 2025 | Date of transactions: vesting of RSUs and sale of shares. |
| March 04, 2025 | Date of Form 4 filing. |
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