Loren Padelford - Aug 15, 2023 Form 4 Insider Report for BILL Holdings, Inc. (BILL)

Role: CCO
Signature: /s/ Rajesh Aji, Attorney-in-Fact
Stock symbol: BILL
Transactions as of: Aug 15, 2023
Transactions value $: $0
Form type: 4
Date filed: 8/17/2023, 07:44 PM
Previous filing: Oct 7, 2022
Next filing: Aug 25, 2023

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	Restricted Stock Units	Award	$0	+18.1K		$0.00	18.1K	Aug 15, 2023	Common Stock	18.1K		Direct	F1, F2
transaction	BILL	Performance Stock Units	Award	$0	+7.52K		$0.00	7.52K	Aug 15, 2023	Common Stock	7.52K		Direct	F3, F4
transaction	BILL	Performance Stock Units	Award	$0	+4.51K		$0.00	4.51K	Aug 15, 2023	Common Stock	4.51K		Direct	F3, F5

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

Explanation of Responses:

Id	Content
F1	Each Restricted Stock Unit ("RSU") represents a contingent right to receive one share of the Issuer's Common Stock.
F2	The RSUs vest in 16 equal quarterly installments over four years, beginning November 28, 2023, subject to the continuing service of the Reporting Person on each vesting date.
F3	Each Performance Stock Unit ("PSU") represents a conditional right to receive one share of Common Stock, subject to the continuing service of the Reporting Person on each vesting date.
F4	The PSUs may vest depending on the achievement of certain revenue and profitability targets of the Issuer over the one-year period beginning July 1, 2023 and ending June 30, 2024, subject to the Reporting Person's continued service to the Issuer. Once earned, the PSUs will vest over three years, with 1/3rd vesting upon the completion of the one-year performance period and the certification by the Issuer's Compensation Committee or the Board of the achievement level, and the remaining 2/3rds vesting quarterly thereafter over the following two years.
F5	The PSUs may vest depending on the Issuer's total shareholder return over a three-year period beginning July 1, 2023 and ending June 30, 2026, relative to companies that comprise the Russell 3000, subject to the Reporting Person's continued service to the Issuer. Once earned, the PSUs will vest in full following the date on which the Issuer's Compensation Committee or the Board certifies the achievement level, with such vesting to occur on the next regular quarterly vesting date thereafter.