Daniel Drees - 15 May 2023 Form 4 Insider Report for AvidXchange Holdings, Inc. (AVDX)

Role: President
Signature: /s/ Ryan Stahl, Attorney-in-Fact for Daniel Drees
Issuer symbol: AVDX
Transactions as of: 15 May 2023
Net transactions value: -$89,990
Form type: 4
Filing time: 17 May 2023, 19:31:04 UTC
Previous filing: 10 Mar 2023
Next filing: 20 Jun 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	AVDX	Common Stock	Options Exercise		+1,788	+0.36%		504,604	15 May 2023	Direct	F1
transaction	AVDX	Common Stock	Options Exercise		+5,100	+1%		509,704	15 May 2023	Direct	F1
transaction	AVDX	Common Stock	Options Exercise		+16,325	+3.2%		526,029	15 May 2023	Direct	F1
transaction	AVDX	Common Stock	Sale	$7,382	-837	-0.16%	$8.82	525,192	15 May 2023	Direct	F2, F3
transaction	AVDX	Common Stock	Sale	$21,045	-2,386	-0.45%	$8.82	522,806	15 May 2023	Direct	F2, F3
transaction	AVDX	Common Stock	Sale	$61,564	-6,980	-1.3%	$8.82	515,826	15 May 2023	Direct	F2, F3

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	-1,788	-25%	$0.000000	5,356	15 May 2023	Common Stock	1,788		Direct	F1, F4
transaction	AVDX	Restricted Stock Units	Options Exercise	$0	-5,100	-12%	$0.000000	35,708	15 May 2023	Common Stock	5,100		Direct	F1, F5
transaction	AVDX	Restricted Stock Units	Options Exercise	$0	-16,325	-8.3%	$0.000000	179,571	15 May 2023	Common Stock	16,325		Direct	F1, F6

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

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 $8.67 to $8.89. 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	On October 1, 2020, the reporting person was granted 28,564 restricted stock units, vesting 25% on the first anniversary of the vesting commencement date and quarterly thereafter. The vesting commencement date was February 15, 2020.
F5	On February 19, 2021, the reporting person was granted 81,612 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.
F6	On March 16, 2022, the reporting person was granted 261,194 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.