Michael Praeger - Oct 15, 2021 Form 4 Insider Report for AvidXchange Holdings, Inc. (AVDX)

Signature
/s/ Ryan Stahl, Attorney-in-Fact for Michael Praeger
Stock symbol
AVDX
Transactions as of
Oct 15, 2021
Transactions value $
$0
Form type
4
Date filed
10/19/2021, 09:03 PM
Previous filing
Nov 19, 2021
Next filing
Mar 11, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AVDX Common Stock Conversion of derivative security +1.05M +14% 8.56M Oct 15, 2021 Direct F1, F2
transaction AVDX Common Stock Conversion of derivative security +604K +1059.48% 661K Oct 15, 2021 By Michael Praeger and Cindy Praeger, Joint Tenants with Right of Survivorship F1, F2
transaction AVDX Common Stock Conversion of derivative security +744K 744K Oct 15, 2021 By MP 2021 GRAT F2
holding AVDX Common Stock 1.89M Oct 15, 2021 By Green and Gold 2014 GRAT
holding AVDX Common Stock 1.33M Oct 15, 2021 By Green and Gold 2015 GRAT
holding AVDX Common Stock 720K Oct 15, 2021 By MP Charitable Trust

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction AVDX Restricted Stock Units Award $0 +73.5K $0.00 73.5K Oct 15, 2021 Common Stock 73.5K Direct F3, F4
transaction AVDX Restricted Stock Units Award $0 +286K $0.00 286K Oct 15, 2021 Common Stock 286K Direct F3, F5
transaction AVDX Restricted Stock Units Award $0 +40 $0.00 40 Oct 15, 2021 Common Stock 40 Direct F3, F6
transaction AVDX Series A Preferred Stock Conversion of derivative security $0 -67.4K -100% $0.00* 0 Oct 15, 2021 Common Stock 453K Direct F1, F7
transaction AVDX Series B Preferred Stock Conversion of derivative security $0 -120K -100% $0.00* 0 Oct 15, 2021 Common Stock 481K Direct F2, F7
transaction AVDX Series D Preferred Stock Conversion of derivative security $0 -29.3K -100% $0.00* 0 Oct 15, 2021 Common Stock 117K Direct F2, F7
transaction AVDX Series A Preferred Stock Conversion of derivative security $0 -25.7K -100% $0.00* 0 Oct 15, 2021 Common Stock 173K By Michael Praeger and Cindy Praeger, Joint Tenants with Right of Survivorship F1, F7
transaction AVDX Series B Preferred Stock Conversion of derivative security $0 -56.8K -100% $0.00* 0 Oct 15, 2021 Common Stock 227K By Michael Praeger and Cindy Praeger, Joint Tenants with Right of Survivorship F2, F7
transaction AVDX Series C Preferred Stock Conversion of derivative security $0 -43.6K -100% $0.00* 0 Oct 15, 2021 Common Stock 174K By Michael Praeger and Cindy Praeger, Joint Tenants with Right of Survivorship F2, F7
transaction AVDX Series D Preferred Stock Conversion of derivative security $0 -7.33K -100% $0.00* 0 Oct 15, 2021 Common Stock 29.3K By Michael Praeger and Cindy Praeger, Joint Tenants with Right of Survivorship F2, F7
transaction AVDX Series C Preferred Stock Conversion of derivative security $0 -186K -100% $0.00* 0 Oct 15, 2021 Common Stock 744K By MP 2021 GRAT F2, F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 In connection with the issuer's initial public offering of common stock, all shares of Series A Preferred Stock were automatically converted into shares of the issuer's common stock on a 6.7227-for-1 basis.
F2 In connection with the issuer's initial public offering of common stock, all shares of Series B Preferred Stock, Series C Preferred Stock and Series D Preferred Stock were automatically converted into shares of the issuer's common stock on a 4-for-1 basis.
F3 Each restricted stock unit represents a contingent right to receive one share of the issuer's common stock. For grants made prior to September 30, 2021, the number of shares gives effect to the 4-for-1 stock split that was effected on September 30, 2021.
F4 The restricted stock units vest 25% on the first anniversary of the vesting commencement date and quarterly thereafter over 12 quarters. The vesting commencement date was February 15, 2020. Vested shares will be delivered to the reporting person on or after the six month anniversary of the initial public offering or, if earlier, on the subsequent March 15.
F5 The restricted stock units vest 25% on the first anniversary of the vesting commencement date and quarterly thereafter over 12 quarters. The vesting commencement date was February 15, 2021. Vested shares will be delivered to the reporting person on or after the six month anniversary of the initial public offering or, if earlier, on the subsequent March 15.
F6 The restricted stock units will vest on November 15, 2022.
F7 The preferred stock was perpetual and therefore had no expiration date.

Remarks:

President and Chief Executive Officer