Key facts
- This page summarizes Philip J. Hilal's Form 4 filing for BOTTOMLINE TECHNOLOGIES INC.
- 3 reported transactions and 1 derivative row are listed below.
- Accepted by SEC: 17 May 2022, 12:27.
Philip J. Hilal - 13 May 2022 Form 4 Insider Report for BOTTOMLINE TECHNOLOGIES INC
- Reporting relationship
- Director, Other*
- Issuer ticker
- N/A
- Reported as of
- 13 May 2022
- Net transaction value
- -$53,295,000
- SEC form
- 4
- Accepted by SEC
- 17 May 2022, 12:27:00 UTC
- Prior SEC filing
- 23 Feb 2022
- Source filing
- View source filing
- Reporting owner signature
- /s/ Philip J. Hilal
Source evidence
Original filing metadata and source links for verification.
4 source fields
Reporting owner
1 detail
Key filing fact
Philip J. Hilal filed Form 4 for BOTTOMLINE TECHNOLOGIES INC on 17 May 2022.
Change
- Previous filing in this sequence was filed on 23 Feb 2022.
- Current net transaction value: -$53,295,000.
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
Filed on Form 4
View source filing
Ownership activity is grounded in SEC Form 4 disclosures.
Reported non-derivative transactions
Shares, units, or other non-derivative securities reported in this filing.
EPAY
transaction
Common Stock, par value $0.001 ("Common Stock")
Disposed to Issuer
- Transaction value
- $52,725,000
- Shares
- -925,000
- Change %
- -100%
- Price
- $57.00
- Shares after
- 0
- Date
- 13 May 2022
- Ownership
- See footnote
- Footnotes
- F1, F2
EPAY
transaction
Common Stock
Disposed to Issuer
- Transaction value
- $570,000
- Shares
- -10,000
- Change %
- -100%
- Price
- $57.00
- Shares after
- 0
- Date
- 13 May 2022
- Ownership
- Direct
- Footnotes
- F1
Reported derivative securities
Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.
EPAY
transaction
Derivative
Cash Settled Share Forward (obligation to sell)
Other
- Transaction value
- Shares
- -1
- Change %
- -100%
- Price
- Shares after
- 0
- Date
- 13 May 2022
- Ownership
- See footnote
- Underlying class
- Common Stock
- Underlying amount
- 924,900
- Exercise price
- Footnotes
- F2, F3
* marks a reported price that did not pass the local price check.
Additional SEC filing notes
Filing notes and footnotes
Section 16 status
Philip J. Hilal is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may still apply in specific circumstances.
Explanation of responses 3 footnotes
Footnote F1
On May 13, 2022, Project RB Merger Sub, Inc., a Delaware corporation ("Merger Sub") and a wholly owned subsidiary of Bottomline Intermediate Holdings III, LLC (formerly known as Project RB Parent, LLC), a Delaware limited liability company ("Parent"), completed its merger (the "Merger") with and into Bottomline Technologies, Inc., a Delaware corporation (the "Company"), pursuant to the terms of the Agreement and Plan of Merger, dated December 16, 2021, by and among Parent, Merger Sub and the Company. The Company was the surviving corporation in the Merger and, as a result, is now a wholly owned subsidiary of Parent. Parent and Merger Sub are affiliates of Thoma Bravo Fund XV, L.P., managed by Thoma Bravo, L.P. As of the effective time of the Merger, each share of common stock of the Company outstanding immediately prior to the effective time of the Merger was converted into the right to receive $57.00 in cash, subject to applicable withholding taxes.
Footnote F2
This Form 4 is filed by Clearfield Capital Management LP ("Clearfield") and Philip J. Hilal ("Mr. Hilal") with respect to the securities previously held by a certain fund or funds to which Clearfield serves as investment manager. Mr. Hilal is the Chief Investment Officer of Clearfield and the managing member of Clearfield Capital Management GP LLC, the general partner of Clearfield.
Footnote F3
The cash-settled forward agreement settled pursuant to its terms at a settlement price of $57.00.
SEC remarks
Clearfield may have been deemed to be a director by deputization for purposes of Section 16 under the Securities Exchange Act of 1934, as amended, by virtue of the fact that Mr. Hilal, who indirectly controls Clearfield, previously served on the board of directors of the Issuer. Following consummation of the Merger, Mr. Hilal no longer serves on the board of directors of the Issuer.