Lacerte Rene A. 4

What Happened

• Rene A. Lacerte, CEO and Director of BILL Holdings, converted vested equity awards (RSUs/PSUs) into common stock on May 28, 2026. A total of 31,286 award shares were converted. To satisfy tax withholding, 15,922 of those shares were withheld and disposed at $34.85 per share for proceeds of $554,882, leaving a net 15,364 shares issued to the reporting person/trusts.
• The conversions show $0 exercise price for the awarded shares (typical for RSUs/PSUs). The transaction codes include M (exercise/conversion of derivative) and F (shares withheld to pay tax liability).

Key Details

• Transaction date: May 28, 2026; Form 4 filed June 1, 2026 (filed within the two-business-day window).
• Amounts: 31,286 shares converted in total; 15,922 shares withheld at $34.85 each = $554,882; net delivered shares = 15,364.
• Price/terms: Many converted awards show $0 exercise price (these were RSUs/PSUs that vested), and the taxed shares were withheld (not an open-market sale).
• Shares owned after transaction: Not specified in the provided filing excerpts.
• Relevant footnotes: F1/F3 define RSUs and PSUs; F4 indicates shares were withheld to satisfy tax withholding; F11–F15 describe vesting schedules for the awards; F10/F5/F6–F9/F9 note various family trusts (e.g., Makahakama Trust) that hold shares.
• Filing timeliness: Report appears timely (filed within two business days of the May 28 transaction).

Context

• This was not an open-market sale or purchase but a conversion of vested awards with a cashless-type tax withholding (shares withheld to cover taxes), which is common when RSUs/PSUs vest.
• Such conversions reflect routine compensation vesting rather than a discretionary market trade; withholding to cover taxes is standard and does not necessarily indicate a change in insider sentiment.