Peter A. Feld - 17 Oct 2025 Form 4 Insider Report for BILL Holdings, Inc. (BILL)

Role: Director
Signature: /s/ Lindsey Cara, Attorney-in-Fact for Peter A. Feld
Issuer symbol: BILL
Transactions as of: 17 Oct 2025
Net transactions value: $0
Form type: 4
Filing time: 21 Oct 2025, 20:18:44 UTC
Previous filing: 15 Aug 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Feld Peter A	Director	201 E LAS OLAS BOULEVARD, SUITE 1000, FORT LAUDERDALE	/s/ Lindsey Cara, Attorney-in-Fact for Peter A. Feld	21 Oct 2025	0001410600

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	BILL	Common Stock, $0.00001 par value						7,025,748	17 Oct 2025	By Starboard Value LP	F1

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	BILL	Restricted Stock Unit	Award	$0	+7,831		$0.000000	7,831	17 Oct 2025	Common Stock, $0.00001 par value	7,831		Direct	F2, F3
holding	BILL	Forward Purchase Contract						1,614,152	17 Oct 2025	Common Stock, $0.00001 par value	1,614,152		By Starboard Value LP	F1, F4

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Starboard Value LP ("Starboard") serves as the investment manager or manager of certain managed accounts and private investment funds (collectively, the "Starboard Accounts"), which hold the securities reported herein and as such may be deemed to beneficially own such securities. The Reporting Person, as a Managing Member of Starboard, may be deemed to beneficially own the securities directly held by the Starboard Accounts for purposes of Section 16 of the Securities Exchange Act of 1934, as amended. The Reporting Person expressly disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein.
F2	Each Restricted Stock Unit ("RSU") represents a contingent right to receive one share of the Issuer's Common Stock.
F3	The RSUs vest as to 1/3 of the total shares annually on each of October 17, 2026, October 17, 2027, and October 17, 2028, subject to the continuing service of the Reporting Person on each vesting date.
F4	One of the Starboard Accounts has entered into forward purchase contracts with Nomura Global Financial Products Inc. as the counterparty providing for the purchase of an aggregate of 1,614,152 shares of the Issuer's Common Stock having an aggregate purchase price of $69,096,198 (the "Forward Contracts"). The Forward Contracts have a final valuation date of December 21, 2026, however, the Starboard Account has the ability to elect early settlement after serving notice to the counterparty of such intention at least two scheduled trading days in advance of the desired early final valuation date. Each of the Forward Contracts provides for physical settlement. Until the settlement date, none of the Forward Contracts give the Starboard Account voting and dispositive control over the shares to which such contracts relate.