Michael Praeger - Aug 27, 2024 Form 4 Insider Report for AvidXchange Holdings, Inc. (AVDX)

Role
Chief Executive Officer, Director
Signature
/s/ Ryan Stahl, Attorney-in-Fact for Michael Praeger
Stock symbol
AVDX
Transactions as of
Aug 27, 2024
Transactions value $
-$586,625
Form type
4
Date filed
8/29/2024, 07:08 PM
Previous filing
Jun 13, 2024
Next filing
Sep 3, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AVDX Common Stock Options Exercise +17.9K +0.17% 10.5M Aug 27, 2024 Direct F1
transaction AVDX Common Stock Options Exercise +32.6K +0.31% 10.5M Aug 27, 2024 Direct F1
transaction AVDX Common Stock Sale -$65.9K -8.26K -0.01% $7.98 104M Aug 27, 2024 Direct F2, F3
transaction AVDX Common Stock Sale -$121K -15.1K -0.14% $7.98 10.5M Aug 27, 2024 Direct F2, F3
transaction AVDX Common Stock Sale -$111K -13.9K -0.13% $7.98 10.5M Aug 27, 2024 Direct F2, F3
transaction AVDX Common Stock Sale -$290K -36.1K -0.35% $8.02 10.4M Aug 28, 2024 Direct F4, F5
holding AVDX Common Stock 297K Aug 27, 2024 By MP Charitable Trust
holding AVDX Common Stock 503K Aug 27, 2024 By Cindy Praeger
holding AVDX Common Stock 661K Aug 27, 2024 By Michael Praeger and Cindy Praeger, Joint Tenants with Right of Survivorship
holding AVDX Common Stock 1.89M Aug 27, 2024 By Green and Gold 2014 GRAT
holding AVDX Common Stock 1.33M Aug 27, 2024 By Green and Gold 2015 GRAT

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 Options Exercise $0 -17.9K -33.33% $0.00 35.7K Aug 27, 2024 Common Stock 17.9K Direct F1, F6
transaction AVDX Restricted Stock Units Options Exercise $0 -32.6K -14.29% $0.00 196K Aug 27, 2024 Common Stock 32.6K Direct F1, F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 Upon vesting, restricted stock units convert into common stock on a one-for-one-basis.
F2 The sales reported on this Form 4 represent shares sold by the reporting person to cover tax withholding obligations in connection with the vesting and settlement of restricted stock units. The sales were to satisfy tax withholding obligations to be funded by a "sell to cover" transaction.
F3 This transaction was executed in multiple trades at prices ranging from $7.90 to $8.04. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the transaction was effected.
F4 The sale reported on this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 11, 2023.
F5 This transaction was executed in multiple trades at prices ranging from $8.00 to $8.055. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the transaction was effected.
F6 On February 19, 2021, the reporting person was granted 285,652 restricted stock units, vesting 25% on the first anniversary of the vesting commencement date and quarterly thereafter. The vesting commencement date was February 15, 2021.
F7 On March 16, 2022, the reporting person was granted 522,388 restricted stock units, vesting 25% on the first anniversary of the vesting commencement date and quarterly thereafter. The vesting commencement date was February 15, 2022.