Blake Thomas Murray - Jun 1, 2021 Form 4 Insider Report for Bill.com Holdings, Inc. (BILL)

Role: CEO, DivvyPay, LLC
Signature: /s/ Rajesh Aji, Attorney-in-Fact
Stock symbol: BILL
Transactions as of: Jun 1, 2021
Transactions value $: $0
Form type: 4
Date filed: 6/3/2021, 06:13 PM
Next filing: Aug 18, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	BILL	Common Stock	Award		+196K			196K	Jun 1, 2021	By spouse	F1
transaction	BILL	Common Stock	Award		+1.33M			1.33M	Jun 1, 2021	See footnote	F1, F2

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	Employee Stock Option (Right to Buy)	Award		+93.4K			93.4K	Jun 1, 2021	Common Stock	93.4K	$5.09	Direct	F3, F4
transaction	BILL	Employee Stock Option (Right to Buy)	Award		+226K			226K	Jun 1, 2021	Common Stock	226K	$30.56	Direct	F3, F5

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

Explanation of Responses:

Id	Content
F1	The shares of common stock were received in exchange for shares of DivvyPay, Inc. ("DivvyPay") common stock pursuant to the terms of an Agreement and Plan of Merger, dated as of May 6, 2021, with the Issuer, certain of the Issuer's subsidiaries, DivvyPay and a shareholder representative, whereby DivvyPay became a wholly owned subsidiary of the Issuer (the "Merger"). The share consideration consisted of cash and shares of the Issuer's common stock and was calculated based on a fixed value of $157.2697 per share of the Issuer's common stock.
F2	Represents shares held by BTM Investment Holdings, LLC, of which the Reporting Person is the managing member.
F3	The option is fully vested and exercisable.
F4	The options were received in the Merger in exchange for stock options to acquire 251,522 shares of DivvyPay common stock at a price of $1.89 per share.
F5	The options were received in the Merger in exchange for stock options to acquire 608,359 shares of DivvyPay common stock at a price of $11.35 per share.