BILL CEO Rene Lacerte Exercises/Converts 48,920 Awards

What Happened
Rene A. Lacerte, CEO and Director of BILL Holdings (BILL), exercised/converted various restricted stock units (RSUs) and performance stock units (PSUs) on August 28, 2026, resulting in the issuance of 48,920 shares. To satisfy tax withholding obligations, 24,896 of those shares were withheld at $50.31/share, generating proceeds of $1,252,518. Net shares received by Lacerte (after withholding) were 24,024 based on the amounts reported.

Key Details

• Transaction date: 2026-08-28; Form 4 filed: 2026-09-01.
• Converts/Exercises (code M): 48,920 shares (two acquired lines of 24,627 and 24,293; several derivative conversions totaling 48,920).
• Tax withholding (code F): 24,896 shares withheld at $50.31/share = $1,252,518.
• Net new shares to Lacerte (48,920 converted − 24,896 withheld) = 24,024 shares.
• Footnotes: these transactions relate to RSUs and PSUs (each unit converts to one share) with various vesting schedules (see F10–F15 and F1–F3). F3 indicates the withheld shares were used to satisfy tax obligations.
• Shares owned after the transaction are not shown in the provided excerpt.
• This appears to be routine award vesting/conversion and tax withholding, not an open‑market sale or purchase.

Context

• M-coded entries = exercise/conversion of derivative awards (RSUs/PSUs); F-coded entry = shares withheld to pay taxes. This is common when equity awards vest and taxes are paid in shares (a cashless withholding).
• Such vesting/withholding transactions are typically administrative and do not necessarily indicate a change in the insider’s view of the company.