Todd Alan Cunningham - 15 Nov 2023 Form 4 Insider Report for AvidXchange Holdings, Inc. (AVDX)

Role: Officer
Signature: Chief People Officer, Senior Vice President
Issuer symbol: AVDX
Transactions as of: 15 Nov 2023
Net transactions value: -$30,895
Form type: 4
Filing time: 17 Nov 2023, 17:46:35 UTC
Previous filing: 17 Aug 2023
Next filing: 07 Dec 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		+1,276	+0.62%		208,315	15 Nov 2023	Direct	F1
transaction	AVDX	Common Stock	Options Exercise		+2,676	+1.3%		210,991	15 Nov 2023	Direct	F1
transaction	AVDX	Common Stock	Options Exercise		+6,530	+3.1%		217,521	15 Nov 2023	Direct	F1
transaction	AVDX	Common Stock	Sale	$3,769	-387	-0.18%	$9.74	217,134	15 Nov 2023	Direct	F2, F3
transaction	AVDX	Common Stock	Sale	$7,889	-810	-0.37%	$9.74	216,324	15 Nov 2023	Direct	F2, F3
transaction	AVDX	Common Stock	Sale	$19,236	-1,975	-0.91%	$9.74	214,349	15 Nov 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	-1,276	-50%	$0.000000	1,276	15 Nov 2023	Common Stock	1,276		Direct	F1, F4
transaction	AVDX	Restricted Stock Units	Options Exercise	$0	-2,676	-17%	$0.000000	13,392	15 Nov 2023	Common Stock	2,676		Direct	F1, F5
transaction	AVDX	Restricted Stock Units	Options Exercise	$0	-6,530	-10%	$0.000000	58,769	15 Nov 2023	Common Stock	6,530		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 $9.65 to $9.99. 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 20,400 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 42,848 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 104,477 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.