Key facts
- This page summarizes Starboard Value LP's Form 3 filing for BILL Holdings, Inc. (BILL).
- 0 reported transactions and 10 derivative rows are listed below.
- Accepted by SEC: 31 Aug 2026, 17:00.
Starboard Value LP - 20 Aug 2026 Form 3 Insider Report for BILL Holdings, Inc. (BILL)
- Reporting relationship
- Other*, 10%+ Owner
- Issuer ticker
- BILL
- Reported as of
- 20 Aug 2026
- Net transaction value
- $0
- SEC form
- 3
- Accepted by SEC
- 31 Aug 2026, 17:00:23 UTC
- Prior SEC filing
- 16 May 2025
- Source filing
- View source filing
- Reporting owner signature
- Starboard Value LP, By: /s/ Lorelei Martin, Authorized Signatory of Starboard Value GP LLC, its general partner
Source evidence
Original filing metadata and source links for verification.
4 source fields
Reporting owner
1 detail
Key filing fact
Starboard Value LP filed Form 3 for BILL Holdings, Inc. (BILL) on 31 Aug 2026.
Change
- Previous filing in this sequence was filed on 16 May 2025.
- Current net transaction value: $0.
Research use
- This tells you what this filing adds before you inspect full transaction and derivative tables.
- You can trace every row back to the original SEC filing document.
Evidence
Official SEC source
View source filing
Ownership activity is grounded in SEC Form 3 disclosures.
Reporting Owners (10)
CIK 0001517137
Primary reporting owner
Starboard Value LP
- Relationship
- Other*, 10%+ Owner
- Address
- 777 THIRD AVENUE, 18TH FLOOR, NEW YORK
- Signature
- Starboard Value LP, By: /s/ Lorelei Martin, Authorized Signatory of Starboard Value GP LLC, its general partner
- Signature date
- 31 Aug 2026
CIK 0001373638
STARBOARD VALUE & OPPORTUNITY MASTER FUND LTD
- Relationship
- Other*
- Address
- 777 THIRD AVENUE, 18TH FLOOR, NEW YORK
- Signature
- Starboard Value & Opportunity Master Fund Ltd, By: /s/ Lorelei Martin, Authorized Signatory of Starboard Value LP, its investment manager
- Signature date
- 31 Aug 2026
CIK 0001519812
STARBOARD VALUE & OPPORTUNITY S LLC
- Relationship
- Other*
- Address
- 777 THIRD AVENUE, 18TH FLOOR, NEW YORK
- Signature
- Starboard Value & Opportunity S LLC, By: /s/ Lorelei Martin, Authorized Signatory of Starboard Value LP, its manager
- Signature date
- 31 Aug 2026
CIK 0001767736
Starboard Value & Opportunity Master Fund L LP
- Relationship
- Other*
- Address
- 777 THIRD AVENUE, 18TH FLOOR, NEW YORK
- Signature
- Starboard Value and Opportunity Master Fund L LP, By: /s/ Lorelei Martin, Authorized Signatory of Starboard Value L LP, its general partner
- Signature date
- 31 Aug 2026
CIK 0001833016
Starboard X Master Fund Ltd
- Relationship
- Other*
- Address
- 777 THIRD AVENUE, 18TH FLOOR, NEW YORK
- Signature
- Starboard X Master Fund Ltd, By: /s/ Lorelei Martin, Authorized Signatory of Starboard Value LP, its investment manager
- Signature date
- 31 Aug 2026
CIK 0001767773
Starboard Value L LP
- Relationship
- Other*
- Address
- 777 THIRD AVENUE, 18TH FLOOR, NEW YORK
- Signature
- Starboard Value L LP, By: /s/ Lorelei Martin, Authorized Signatory of Starboard Value R GP LLC, its general partner
- Signature date
- 31 Aug 2026
CIK 0001575979
Starboard Value R GP LLC
- Relationship
- Other*
- Address
- 777 THIRD AVENUE, 18TH FLOOR, NEW YORK
- Signature
- Starboard Value R GP LLC, By: /s/ Lorelei Martin, Authorized Signatory
- Signature date
- 31 Aug 2026
CIK 0001517138
Starboard Value GP LLC
- Relationship
- Other*, 10%+ Owner
- Address
- 777 THIRD AVENUE, 18TH FLOOR, NEW YORK
- Signature
- Starboard Value GP LLC, By: /s/ Lorelei Martin, Authorized Signatory of Starboard Principal Co LP, its member
- Signature date
- 31 Aug 2026
CIK 0001517139
Starboard Principal Co LP
- Relationship
- Other*, 10%+ Owner
- Address
- 777 THIRD AVENUE, 18TH FLOOR, NEW YORK
- Signature
- Starboard Principal Co LP, By: /s/ Lorelei Martin, Authorized Signatory of Starboard Principal Co GP LLC, its general partner
- Signature date
- 31 Aug 2026
CIK 0001517140
Starboard Principal Co GP LLC
- Relationship
- Other*, 10%+ Owner
- Address
- 777 THIRD AVENUE, 18TH FLOOR, NEW YORK
- Signature
- Starboard Principal Co GP LLC, By: /s/ Lorelei Martin, Authorized Signatory
- Signature date
- 31 Aug 2026
Reported non-derivative transactions
Shares, units, or other non-derivative securities reported in this filing.
BILL
holding
Common Stock, $0.00001 par value per share
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 2,983,630
- Date
- 20 Aug 2026
- Ownership
- By Starboard Value and Opportunity Master Fund Ltd
- Footnotes
- F1, F2, F3, F4
BILL
holding
Common Stock, $0.00001 par value per share
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 2,983,630
- Date
- 20 Aug 2026
- Ownership
- By Starboard Value and Opportunity Master Fund Ltd
- Footnotes
- F1, F2, F3, F4
BILL
holding
Common Stock, $0.00001 par value per share
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 2,983,630
- Date
- 20 Aug 2026
- Ownership
- By Starboard Value and Opportunity Master Fund Ltd
- Footnotes
- F1, F2, F3, F4
BILL
holding
Common Stock, $0.00001 par value per share
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 2,983,630
- Date
- 20 Aug 2026
- Ownership
- By Starboard Value and Opportunity Master Fund Ltd
- Footnotes
- F1, F2, F3, F4
BILL
holding
Common Stock, $0.00001 par value per share
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 2,983,630
- Date
- 20 Aug 2026
- Ownership
- By Starboard Value and Opportunity Master Fund Ltd
- Footnotes
- F1, F2, F3, F4
BILL
holding
Common Stock, $0.00001 par value per share
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 2,983,630
- Date
- 20 Aug 2026
- Ownership
- By Starboard Value and Opportunity Master Fund Ltd
- Footnotes
- F1, F2, F3, F4
BILL
holding
Common Stock, $0.00001 par value per share
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 2,983,630
- Date
- 20 Aug 2026
- Ownership
- By Starboard Value and Opportunity Master Fund Ltd
- Footnotes
- F1, F2, F3, F4
BILL
holding
Common Stock, $0.00001 par value per share
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 2,983,630
- Date
- 20 Aug 2026
- Ownership
- By Starboard Value and Opportunity Master Fund Ltd
- Footnotes
- F1, F2, F3, F4
BILL
holding
Common Stock, $0.00001 par value per share
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 2,983,630
- Date
- 20 Aug 2026
- Ownership
- By Starboard Value and Opportunity Master Fund Ltd
- Footnotes
- F1, F2, F3, F4
BILL
holding
Common Stock, $0.00001 par value per share
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 2,983,630
- Date
- 20 Aug 2026
- Ownership
- By Starboard Value and Opportunity Master Fund Ltd
- Footnotes
- F1, F2, F3, F4
BILL
holding
Common Stock, $0.00001 par value per share
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 681,182
- Date
- 20 Aug 2026
- Ownership
- By Starboard Value and Opportunity S LLC
- Footnotes
- F1, F2, F3, F5
BILL
holding
Common Stock, $0.00001 par value per share
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 681,182
- Date
- 20 Aug 2026
- Ownership
- By Starboard Value and Opportunity S LLC
- Footnotes
- F1, F2, F3, F5
BILL
holding
Common Stock, $0.00001 par value per share
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 681,182
- Date
- 20 Aug 2026
- Ownership
- By Starboard Value and Opportunity S LLC
- Footnotes
- F1, F2, F3, F5
BILL
holding
Common Stock, $0.00001 par value per share
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 681,182
- Date
- 20 Aug 2026
- Ownership
- By Starboard Value and Opportunity S LLC
- Footnotes
- F1, F2, F3, F5
BILL
holding
Common Stock, $0.00001 par value per share
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 681,182
- Date
- 20 Aug 2026
- Ownership
- By Starboard Value and Opportunity S LLC
- Footnotes
- F1, F2, F3, F5
BILL
holding
Common Stock, $0.00001 par value per share
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 681,182
- Date
- 20 Aug 2026
- Ownership
- By Starboard Value and Opportunity S LLC
- Footnotes
- F1, F2, F3, F5
BILL
holding
Common Stock, $0.00001 par value per share
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 681,182
- Date
- 20 Aug 2026
- Ownership
- By Starboard Value and Opportunity S LLC
- Footnotes
- F1, F2, F3, F5
BILL
holding
Common Stock, $0.00001 par value per share
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 681,182
- Date
- 20 Aug 2026
- Ownership
- By Starboard Value and Opportunity S LLC
- Footnotes
- F1, F2, F3, F5
BILL
holding
Common Stock, $0.00001 par value per share
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 681,182
- Date
- 20 Aug 2026
- Ownership
- By Starboard Value and Opportunity S LLC
- Footnotes
- F1, F2, F3, F5
BILL
holding
Common Stock, $0.00001 par value per share
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 681,182
- Date
- 20 Aug 2026
- Ownership
- By Starboard Value and Opportunity S LLC
- Footnotes
- F1, F2, F3, F5
BILL
holding
Common Stock, $0.00001 par value per share
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 239,363
- Date
- 20 Aug 2026
- Ownership
- By Starboard Value and Opportunity Master Fund L LP
- Footnotes
- F1, F2, F3, F6
BILL
holding
Common Stock, $0.00001 par value per share
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 239,363
- Date
- 20 Aug 2026
- Ownership
- By Starboard Value and Opportunity Master Fund L LP
- Footnotes
- F1, F2, F3, F6
BILL
holding
Common Stock, $0.00001 par value per share
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 239,363
- Date
- 20 Aug 2026
- Ownership
- By Starboard Value and Opportunity Master Fund L LP
- Footnotes
- F1, F2, F3, F6
BILL
holding
Common Stock, $0.00001 par value per share
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 239,363
- Date
- 20 Aug 2026
- Ownership
- By Starboard Value and Opportunity Master Fund L LP
- Footnotes
- F1, F2, F3, F6
BILL
holding
Common Stock, $0.00001 par value per share
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 239,363
- Date
- 20 Aug 2026
- Ownership
- By Starboard Value and Opportunity Master Fund L LP
- Footnotes
- F1, F2, F3, F6
BILL
holding
Common Stock, $0.00001 par value per share
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 239,363
- Date
- 20 Aug 2026
- Ownership
- By Starboard Value and Opportunity Master Fund L LP
- Footnotes
- F1, F2, F3, F6
BILL
holding
Common Stock, $0.00001 par value per share
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 239,363
- Date
- 20 Aug 2026
- Ownership
- By Starboard Value and Opportunity Master Fund L LP
- Footnotes
- F1, F2, F3, F6
BILL
holding
Common Stock, $0.00001 par value per share
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 239,363
- Date
- 20 Aug 2026
- Ownership
- By Starboard Value and Opportunity Master Fund L LP
- Footnotes
- F1, F2, F3, F6
BILL
holding
Common Stock, $0.00001 par value per share
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 239,363
- Date
- 20 Aug 2026
- Ownership
- By Starboard Value and Opportunity Master Fund L LP
- Footnotes
- F1, F2, F3, F6
BILL
holding
Common Stock, $0.00001 par value per share
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 239,363
- Date
- 20 Aug 2026
- Ownership
- By Starboard Value and Opportunity Master Fund L LP
- Footnotes
- F1, F2, F3, F6
BILL
holding
Common Stock, $0.00001 par value per share
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 1,712,590
- Date
- 20 Aug 2026
- Ownership
- By Starboard X Master Fund Ltd
- Footnotes
- F1, F2, F3, F7
BILL
holding
Common Stock, $0.00001 par value per share
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 1,712,590
- Date
- 20 Aug 2026
- Ownership
- By Starboard X Master Fund Ltd
- Footnotes
- F1, F2, F3, F7
BILL
holding
Common Stock, $0.00001 par value per share
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 1,712,590
- Date
- 20 Aug 2026
- Ownership
- By Starboard X Master Fund Ltd
- Footnotes
- F1, F2, F3, F7
BILL
holding
Common Stock, $0.00001 par value per share
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 1,712,590
- Date
- 20 Aug 2026
- Ownership
- By Starboard X Master Fund Ltd
- Footnotes
- F1, F2, F3, F7
BILL
holding
Common Stock, $0.00001 par value per share
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 1,712,590
- Date
- 20 Aug 2026
- Ownership
- By Starboard X Master Fund Ltd
- Footnotes
- F1, F2, F3, F7
BILL
holding
Common Stock, $0.00001 par value per share
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 1,712,590
- Date
- 20 Aug 2026
- Ownership
- By Starboard X Master Fund Ltd
- Footnotes
- F1, F2, F3, F7
BILL
holding
Common Stock, $0.00001 par value per share
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 1,712,590
- Date
- 20 Aug 2026
- Ownership
- By Starboard X Master Fund Ltd
- Footnotes
- F1, F2, F3, F7
BILL
holding
Common Stock, $0.00001 par value per share
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 1,712,590
- Date
- 20 Aug 2026
- Ownership
- By Starboard X Master Fund Ltd
- Footnotes
- F1, F2, F3, F7
BILL
holding
Common Stock, $0.00001 par value per share
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 1,712,590
- Date
- 20 Aug 2026
- Ownership
- By Starboard X Master Fund Ltd
- Footnotes
- F1, F2, F3, F7
BILL
holding
Common Stock, $0.00001 par value per share
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 1,712,590
- Date
- 20 Aug 2026
- Ownership
- By Starboard X Master Fund Ltd
- Footnotes
- F1, F2, F3, F7
BILL
holding
Common Stock, $0.00001 par value per share
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 1,408,983
- Date
- 20 Aug 2026
- Ownership
- By Managed Account of Starboard Value LP
- Footnotes
- F1, F2, F3, F8
BILL
holding
Common Stock, $0.00001 par value per share
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 1,408,983
- Date
- 20 Aug 2026
- Ownership
- By Managed Account of Starboard Value LP
- Footnotes
- F1, F2, F3, F8
BILL
holding
Common Stock, $0.00001 par value per share
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 1,408,983
- Date
- 20 Aug 2026
- Ownership
- By Managed Account of Starboard Value LP
- Footnotes
- F1, F2, F3, F8
BILL
holding
Common Stock, $0.00001 par value per share
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 1,408,983
- Date
- 20 Aug 2026
- Ownership
- By Managed Account of Starboard Value LP
- Footnotes
- F1, F2, F3, F8
BILL
holding
Common Stock, $0.00001 par value per share
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 1,408,983
- Date
- 20 Aug 2026
- Ownership
- By Managed Account of Starboard Value LP
- Footnotes
- F1, F2, F3, F8
BILL
holding
Common Stock, $0.00001 par value per share
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 1,408,983
- Date
- 20 Aug 2026
- Ownership
- By Managed Account of Starboard Value LP
- Footnotes
- F1, F2, F3, F8
BILL
holding
Common Stock, $0.00001 par value per share
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 1,408,983
- Date
- 20 Aug 2026
- Ownership
- By Managed Account of Starboard Value LP
- Footnotes
- F1, F2, F3, F8
BILL
holding
Common Stock, $0.00001 par value per share
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 1,408,983
- Date
- 20 Aug 2026
- Ownership
- By Managed Account of Starboard Value LP
- Footnotes
- F1, F2, F3, F8
BILL
holding
Common Stock, $0.00001 par value per share
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 1,408,983
- Date
- 20 Aug 2026
- Ownership
- By Managed Account of Starboard Value LP
- Footnotes
- F1, F2, F3, F8
BILL
holding
Common Stock, $0.00001 par value per share
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 1,408,983
- Date
- 20 Aug 2026
- Ownership
- By Managed Account of Starboard Value LP
- Footnotes
- F1, F2, F3, F8
Reported derivative securities
Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.
BILL
holding
Derivative
Forward Purchase Contract
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- Date
- 20 Aug 2026
- Ownership
- By Starboard Value and Opportunity Master Fund Ltd
- Underlying class
- Common Stock, $0.00001 par value
- Underlying amount
- 1,614,152
- Exercise price
- Footnotes
- F4, F9
BILL
holding
Derivative
Forward Purchase Contract
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- Date
- 20 Aug 2026
- Ownership
- By Starboard Value and Opportunity Master Fund Ltd
- Underlying class
- Common Stock, $0.00001 par value
- Underlying amount
- 1,614,152
- Exercise price
- Footnotes
- F4, F9
BILL
holding
Derivative
Forward Purchase Contract
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- Date
- 20 Aug 2026
- Ownership
- By Starboard Value and Opportunity Master Fund Ltd
- Underlying class
- Common Stock, $0.00001 par value
- Underlying amount
- 1,614,152
- Exercise price
- Footnotes
- F4, F9
BILL
holding
Derivative
Forward Purchase Contract
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- Date
- 20 Aug 2026
- Ownership
- By Starboard Value and Opportunity Master Fund Ltd
- Underlying class
- Common Stock, $0.00001 par value
- Underlying amount
- 1,614,152
- Exercise price
- Footnotes
- F4, F9
BILL
holding
Derivative
Forward Purchase Contract
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- Date
- 20 Aug 2026
- Ownership
- By Starboard Value and Opportunity Master Fund Ltd
- Underlying class
- Common Stock, $0.00001 par value
- Underlying amount
- 1,614,152
- Exercise price
- Footnotes
- F4, F9
BILL
holding
Derivative
Forward Purchase Contract
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- Date
- 20 Aug 2026
- Ownership
- By Starboard Value and Opportunity Master Fund Ltd
- Underlying class
- Common Stock, $0.00001 par value
- Underlying amount
- 1,614,152
- Exercise price
- Footnotes
- F4, F9
BILL
holding
Derivative
Forward Purchase Contract
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- Date
- 20 Aug 2026
- Ownership
- By Starboard Value and Opportunity Master Fund Ltd
- Underlying class
- Common Stock, $0.00001 par value
- Underlying amount
- 1,614,152
- Exercise price
- Footnotes
- F4, F9
BILL
holding
Derivative
Forward Purchase Contract
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- Date
- 20 Aug 2026
- Ownership
- By Starboard Value and Opportunity Master Fund Ltd
- Underlying class
- Common Stock, $0.00001 par value
- Underlying amount
- 1,614,152
- Exercise price
- Footnotes
- F4, F9
BILL
holding
Derivative
Forward Purchase Contract
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- Date
- 20 Aug 2026
- Ownership
- By Starboard Value and Opportunity Master Fund Ltd
- Underlying class
- Common Stock, $0.00001 par value
- Underlying amount
- 1,614,152
- Exercise price
- Footnotes
- F4, F9
BILL
holding
Derivative
Forward Purchase Contract
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- Date
- 20 Aug 2026
- Ownership
- By Starboard Value and Opportunity Master Fund Ltd
- Underlying class
- Common Stock, $0.00001 par value
- Underlying amount
- 1,614,152
- Exercise price
- Footnotes
- F4, F9
* marks a reported price that did not pass the local price check.
Additional SEC filing notes
Filing notes and footnotes
Explanation of responses 9 footnotes
Footnote F1
This Form 3 is filed jointly by Starboard Value and Opportunity Master Fund Ltd ("Starboard V&O Fund"), Starboard Value and Opportunity S LLC ("Starboard S LLC"), Starboard Value and Opportunity Master Fund L LP ("Starboard L Master"), Starboard X Master Fund Ltd ("Starboard X Master"), Starboard Value L LP ("Starboard L LP"), Starboard Value LP ("Starboard Value LP"), Starboard Value GP LLC ("Starboard Value GP"), Starboard Value R GP LLC ("Starboard R GP"), Starboard Principal Co LP ("Principal Co"), Starboard Principal Co GP LLC ("Principal GP") and Jeffrey C. Smith (collectively, the "Reporting Persons").
Footnote F2
This Form 3 is being filed solely due to a decrease in the number of the Issuer's outstanding shares of Common Stock and not as a result of any acquisition by the Reporting Persons.
Footnote F3
To enable all of the Reporting Persons to gain access to the Securities and Exchange Commission's electronic filing system (which only accepts a maximum of 10 joint filers per report), this report is the first of two identical reports relating to the same transactions being filed with the Securities and Exchange Commission. Each Reporting Person may be deemed to be a member of a Section 13(d) group that owns more than 10% of the Issuer's outstanding shares of Common Stock. Each Reporting Person disclaims beneficial ownership of the securities reported herein except to the extent of his or its pecuniary interest therein, and this report shall not be deemed to be an admission that any Reporting Person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.
Footnote F4
Securities beneficially owned by Starboard V&O Fund. Starboard Value LP, as the investment manager of Starboard V&O Fund, may be deemed to be the beneficial owner of the securities beneficially owned by Starboard V&O Fund. Each of Starboard Value GP, as the general partner of Starboard Value LP, Principal Co, as a member of Starboard Value GP, Principal GP, as the general partner of Principal Co, and Mr. Smith, as a member of Principal GP and as a member of each of the Management Committee of Starboard Value GP and the Management Committee of Principal GP, may be deemed to be the beneficial owner of the securities beneficially owned by Starboard V&O Fund.
Footnote F5
Securities beneficially owned by Starboard S LLC. Starboard Value LP, as the manager of Starboard S LLC, may be deemed to be the beneficial owner of the securities beneficially owned by Starboard S LLC. Each of Starboard Value GP, as the general partner of Starboard Value LP, Principal Co, as a member of Starboard Value GP, Principal GP, as the general partner of Principal Co, and Mr. Smith, as a member of Principal GP and as a member of each of the Management Committee of Starboard Value GP and the Management Committee of Principal GP, may be deemed to be the beneficial owner of the securities beneficially owned by Starboard S LLC.
Footnote F6
Securities beneficially owned by Starboard L Master. Each of Starboard L GP, as the general partner of Starboard L Master, and Starboard R GP, as the general partner of Starboard L GP, may be deemed to be the beneficial owner of the securities beneficially owned by Starboard L Master. Starboard Value LP, as the investment manager of Starboard L Master, may be deemed to be the beneficial owner of the securities beneficially owned by Starboard L Master. Each of Starboard Value GP, as the general partner of Starboard Value LP, Principal Co, as a member of Starboard Value GP, Principal GP, as the general partner of Principal Co, and Mr. Smith, as a member of Principal GP and as a member of each of the Management Committee of Starboard Value GP and the Management Committee of Principal GP, may be deemed to be the beneficial owner of the securities beneficially owned by Starboard L Master.
Footnote F7
Securities beneficially owned by Starboard X Master. Starboard Value LP, as the investment manager of Starboard X Master, may be deemed to be the beneficial owner of the securities beneficially owned by Starboard X Master. Each of Starboard Value GP, as the general partner of Starboard Value LP, Principal Co, as a member of Starboard Value GP, Principal GP, as the general partner of Principal Co, and Mr. Smith, as a member of Principal GP and as a member of each of the Management Committee of Starboard Value GP and the Management Committee of Principal GP, may be deemed to be the beneficial owner of the securities beneficially owned by Starboard X Master.
Footnote F8
Securities held in a certain account managed by Starboard Value LP (the "Starboard Value LP Account"). Each of Starboard Value GP, as the general partner of Starboard Value LP, Principal Co, as a member of Starboard Value GP, Principal GP, as the general partner of Principal Co, and Mr. Smith, as a member of Principal GP and as a member of each of the Management Committee of Starboard Value GP and the Management Committee of Principal GP, may be deemed to be the beneficial owner of the securities beneficially owned by Starboard Value LP and held by the Starboard Value LP Account.
Footnote F9
Starboard V&O Fund has entered into forward purchase contracts with Nomura Global Financial Products Inc. as the counterparty providing for the purchase of an aggregate of 1,614,152 shares of the Issuer's Common Stock having an aggregate purchase price of $69,096,198 (the "Forward Contracts"). The Forward Contracts have a final valuation date of December 21, 2026, however, Starboard V&O Fund has the ability to elect early settlement after serving notice to the counterparty of such intention at least two scheduled trading days in advance of the desired early final valuation date. Each of the Forward Contracts provides for physical settlement. Until the settlement date, none of the Forward Contracts give Starboard V&O Fund voting and dispositive control over the shares to which such contracts relate.