Joel Wilhite - Jun 1, 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
Jun 1, 2023
Transactions value $
-$182,400
Form type
4
Date filed
6/5/2023, 07:05 PM
Previous filing
May 17, 2023
Next filing
Aug 17, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AVDX Common Stock Options Exercise $53.8K +16.9K +4.9% $3.18 362K Jun 1, 2023 Direct
transaction AVDX Common Stock Options Exercise $23.1K +7.18K +1.98% $3.22 369K Jun 1, 2023 Direct
transaction AVDX Common Stock Options Exercise $11.2K +2.96K +0.8% $3.79 372K Jun 1, 2023 Direct
transaction AVDX Common Stock Sale -$271K -27.1K -7.26% $10.00 345K Jun 1, 2023 Direct 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 AVDX Employee Stock Option (right to buy) Options Exercise $0 -16.9K -15.67% $0.00 91K Jun 1, 2023 Common Stock 16.9K $3.18 Direct
transaction AVDX Employee Stock Option (right to buy) Options Exercise $0 -7.18K -7.76% $0.00 85.3K Jun 1, 2023 Common Stock 7.18K $3.22 Direct F2
transaction AVDX Employee Stock Option (right to buy) Options Exercise $0 -2.96K -7.68% $0.00 35.6K Jun 1, 2023 Common Stock 2.96K $3.79 Direct F3
* 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 The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 15, 2022.
F2 The option vests 25% on the first anniversary of the grant date and monthly thereafter over 36 months. The grant date was March 5, 2018.
F3 The option vests 25% on the first anniversary of the grant date and monthly thereafter over 36 months. The grant date was March 20, 2019.

Remarks:

Chief Financial Officer, Senior Vice President