Joel Wilhite - 01 Jun 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
Issuer symbol
AVDX
Transactions as of
01 Jun 2023
Net transactions value
-$182,400
Form type
4
Filing time
05 Jun 2023, 19:05:22 UTC
Previous filing
17 May 2023
Next filing
17 Aug 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 $53,780 +16,912 +4.9% $3.18 362,290 01 Jun 2023 Direct
transaction AVDX Common Stock Options Exercise $23,110 +7,177 +2% $3.22 369,467 01 Jun 2023 Direct
transaction AVDX Common Stock Options Exercise $11,230 +2,963 +0.8% $3.79 372,430 01 Jun 2023 Direct
transaction AVDX Common Stock Sale $270,520 -27,052 -7.3% $10.00 345,378 01 Jun 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 -16,912 -16% $0.000000 91,036 01 Jun 2023 Common Stock 16,912 $3.18 Direct
transaction AVDX Employee Stock Option (right to buy) Options Exercise $0 -7,177 -7.8% $0.000000 85,347 01 Jun 2023 Common Stock 7,177 $3.22 Direct F2
transaction AVDX Employee Stock Option (right to buy) Options Exercise $0 -2,963 -7.7% $0.000000 35,637 01 Jun 2023 Common Stock 2,963 $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