Form 4: BILL Holdings CEO Rene Lacerte Reports Routine Equity Vesting and Stock Transactions
Statement of Changes in Beneficial Ownership
BILL Holdings, Inc. CEO and Director Rene A. Lacerte has filed a Form 4 detailing the vesting of restricted and performance stock units, resulting in an increase in direct common stock holdings, alongside shares withheld for tax obligations.
Summary
- Rene A. Lacerte, CEO and Director of BILL Holdings, Inc. (BILL), reported transactions on May 28, 2025, primarily related to the vesting of equity awards.
- A total of 20,111 shares of common stock were acquired through the vesting of Restricted Stock Units (RSUs) and 2,367 shares through the vesting of Performance Stock Units (PSUs).
- 11,420 shares of common stock were disposed of at a price of $44.48 per share to satisfy tax withholding obligations in connection with the vesting of RSUs and PSUs.
- Following these transactions, Mr. Lacerte's direct beneficial ownership of common stock is 43,253 shares.
- Indirect beneficial ownership totals 2,532,030 shares held across various trusts and a foundation, including 1,708,749 shares in the Chung Lacerte Trust, 135,000 shares in a family trust, 184,249 shares in a trust where he and his spouse serve as trustees, an additional 184,249 shares in another trust, 205,000 shares in the Makahakama Foundation, and 114,783 shares in the Makahakama Trust.
- The reported direct ownership also includes 295 shares acquired under the Issuer's employee stock purchase plan on May 15, 2025.
- Remaining unvested derivative securities include 2,786 RSUs, 26,794 RSUs, 32,920 RSUs, 108,025 RSUs, and 2,367 PSUs, with various vesting schedules extending over several years.
Sentiment
Score: 6
Explanation: The sentiment is neutral to slightly positive. The transactions represent the realization of compensation through equity vesting, which is a positive for the executive. The disposition of shares is solely for tax purposes, not an open-market sale indicating a change in sentiment.
Positives
- The vesting of 20,111 Restricted Stock Units (RSUs) and 2,367 Performance Stock Units (PSUs) represents the realization of equity compensation for the CEO, indicating continued alignment of management interests with shareholder value.
- The acquisition of 295 shares through the employee stock purchase plan on May 15, 2025, demonstrates the CEO's participation in broad-based employee ownership programs.
Negatives
- 11,420 shares were disposed of to cover tax withholding obligations, which reduces the direct common stock holdings of the CEO.
Future Outlook
The document does not contain any forward-looking statements or guidance regarding the company's future performance or strategic direction.
Industry Context
This Form 4 filing is a routine disclosure of insider stock transactions, specifically related to equity compensation vesting. It does not provide broader insights into industry trends or competitive landscape, but rather details the compensation realization for a key executive within the financial technology sector.
Related Party Transactions
- A significant portion of Rene A. Lacerte's beneficial ownership is held indirectly through various family trusts and foundations, including the Chung Lacerte Trust, a family trust where he and his spouse are trustors/trustees, other trusts where he and his spouse serve as trustees, the Makahakama Foundation, and the Makahakama Trust. These are considered related party holdings.
Stakeholder Impact
- Shareholders: Provides transparency into the CEO's compensation structure and stock ownership, which is a routine disclosure and generally not indicative of significant operational changes.
- Employees: The mention of shares acquired through an employee stock purchase plan highlights the company's broad-based equity programs.
- Management: The vesting of equity awards is a key component of executive compensation, aligning management's financial interests with the company's performance.
Next Steps
- Continued vesting of remaining Restricted Stock Units (RSUs) and Performance Stock Units (PSUs) according to their respective quarterly and annual schedules, subject to the continuing service of the Reporting Person.
Key Dates
| Date | Description |
|---|---|
| 02/15/2004 | Date of Chung Lacerte Trust U/A and Makahakama Trust U/A. |
| 11/28/2021 | Start of vesting for 2,785 Restricted Stock Units (RSUs) over four years. |
| 11/28/2022 | Start of vesting for 5,359 Restricted Stock Units (RSUs) over four years. |
| 08/28/2023 | Start of vesting for 2,367 Performance Stock Units (PSUs), with 1/3rd vesting initially and the remainder quarterly over two years. |
| 11/28/2023 | Start of vesting for 3,658 Restricted Stock Units (RSUs) over four years. |
| 11/28/2024 | Start of vesting for 8,309 Restricted Stock Units (RSUs) over four years. |
| 05/15/2025 | Acquisition of 295 shares under the Issuer's employee stock purchase plan. |
| 05/28/2025 | Date of reported stock transactions, including vesting of RSUs and PSUs, and disposition for tax withholding. |
| 05/30/2025 | Signature date of the Form 4 filing. |
Keywords
BILL Holdings, Rene A. Lacerte, Form 4, Insider Transactions, Equity Compensation, Restricted Stock Units, Performance Stock Units, Stock Ownership, CEO, Director, SEC Filing
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