Form 4: BILL Holdings COO Rettig Reports Equity Transactions

BILL Holdings COO John R. Rettig reported the vesting of restricted and performance stock units and subsequent tax-related share disposals, effective November 28, 2025.

Summary

• John R. Rettig, Chief Operating Officer (COO) of BILL Holdings, Inc., reported transactions related to his beneficial ownership of company stock.
• On November 28, 2025, Rettig acquired a total of 28,002 shares of common stock through the vesting and conversion of Restricted Stock Units (RSUs) and Performance Stock Units (PSUs).
• Concurrently, 14,221 shares were disposed of at a price of $50.15 per share to satisfy tax withholding obligations related to these vestings.
• Following these transactions, Rettig directly owns 126,581 shares of common stock and indirectly owns 80,474 shares through the Rettig Living Trust, totaling 207,055 shares.
• These transactions were made pursuant to a Rule 10b5-1(c) plan, indicating they were pre-scheduled.

Sentiment

Score: 6

Explanation: The filing reports routine, pre-scheduled equity compensation vesting and associated tax withholding for a key executive. This is a neutral event, slightly positive as it indicates executive compensation realization, but not indicative of new strategic developments or financial performance beyond what was already expected.

Positives

• The vesting of 28,002 shares of common stock from RSUs and PSUs represents the realization of equity compensation for the COO.
• The transactions were executed under a Rule 10b5-1(c) plan, demonstrating pre-planned equity management and transparency.

Negatives

• 14,221 shares were disposed of to cover tax withholding obligations, which reduces the COO's direct beneficial ownership in the company.

Future Outlook

NA

Industry Context

NA

Related Party Transactions

• Indirect beneficial ownership of 80,474 shares is held by the Rettig Living Trust U/A DTD 12/02/2020, of which the Reporting Person and his spouse are co-trustees. This is a common arrangement for executive shareholdings.

Stakeholder Impact

• Shareholders: Provides transparency into executive compensation and share ownership, confirming the COO's continued vested interest in the company's performance. The tax-related sale is a minor dilution event but expected.
• Employees: Reinforces the company's equity compensation structure for executives.

Next Steps

• Continued vesting of remaining RSUs and PSUs according to their respective schedules.

Key Dates

Recommendation

This Form 4 filing details routine, pre-scheduled equity compensation vesting and tax-related share disposals by the COO. Such transactions are standard for executive compensation and do not provide new fundamental information about the company's operational performance, strategic direction, or financial health that would warrant a change in investment recommendation. The transactions are neutral in nature, reflecting expected compensation realization.

Keywords

BILL Holdings, BILL, John R. Rettig, COO, Form 4, SEC filing, equity compensation, RSU, PSU, stock vesting, tax withholding, beneficial ownership, 10b5-1 plan