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

Role
Chief Financial Officer, Senior Vice President
Signature
/s/ Ryan Stahl, Attorney-in-Fact for Joel Wilhite
Stock symbol
AVDX
Transactions as of
May 15, 2023
Transactions value $
-$109,447
Form type
4
Date filed
5/17/2023, 07:42 PM
Previous filing
Mar 10, 2023
Next filing
Jun 5, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AVDX Common Stock Options Exercise +2.55K +0.77% 334K May 15, 2023 Direct F1
transaction AVDX Common Stock Options Exercise +7.65K +2.29% 341K May 15, 2023 Direct F1
transaction AVDX Common Stock Options Exercise +16.3K +4.78% 358K May 15, 2023 Direct F1
transaction AVDX Common Stock Sale -$10.5K -1.2K -0.33% $8.82 357K May 15, 2023 Direct F2, F3
transaction AVDX Common Stock Sale -$31.6K -3.58K -1% $8.82 353K May 15, 2023 Direct F2, F3
transaction AVDX Common Stock Sale -$67.3K -7.64K -2.16% $8.82 345K May 15, 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 -2.55K -25.01% $0.00 7.65K May 15, 2023 Common Stock 2.55K Direct F1, F4
transaction AVDX Restricted Stock Units Options Exercise $0 -7.65K -12.5% $0.00 53.6K May 15, 2023 Common Stock 7.65K Direct F1, F5
transaction AVDX Restricted Stock Units Options Exercise $0 -16.3K -8.33% $0.00 180K May 15, 2023 Common Stock 16.3K 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 40,804 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 122,420 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.

Remarks:

Chief Financial Officer, Senior Vice President