Cieri Michael 4
4 · BILL Holdings, Inc. · Filed Jun 1, 2026
Research Summary
AI-generated summary of this filing
BILL Holdings CPO Michael Cieri Vests RSUs and Sells Shares
What Happened
- Michael Cieri, Chief Product Officer of BILL Holdings, had 51,591 restricted stock units (RSUs) convert to common shares on May 28, 2026. Of those vested shares, 18,716 shares were withheld to satisfy tax obligations (value $652,253). The remaining vested shares were sold in open-market transactions on May 29, 2026 under a Rule 10b5-1 plan, generating roughly $1.20 million in proceeds from those sales. Total shares acquired through the vesting/conversion and disposed in connection with this event equal 51,591.
Key Details
- Transaction dates: RSU conversion/vesting on 2026-05-28; open-market sales on 2026-05-29.
- Codes: M = conversion of derivative (RSU); F = shares withheld for taxes; S = open-market sales.
- Sales detail:
- 18,716 shares withheld for taxes at $34.85 (value $652,253) (F; tax withholding).
- 5,600 shares sold at a weighted average $35.68 (proceeds $199,834). (F5: sale prices ranged $35.08–$36.06)
- 23,775 shares sold at a weighted average $36.80 (proceeds $874,982). (F6: prices ranged $36.08–$37.07)
- 3,500 shares sold at a weighted average $37.10 (proceeds $129,847). (F7: prices ranged $37.08–$37.15)
- Proceeds: Open-market sales ≈ $1.20M; total value related to the vested shares including tax withholding ≈ $1.86M.
- Sales were effected pursuant to a 10b5-1 trading plan adopted Dec 2, 2025 (F4).
- Vesting schedule note: These RSUs vested 1/4 on May 28, 2026, with the remainder vesting quarterly over three years (F8).
- Shares owned after the transactions: not specified in this Form 4.
- Filing timeliness: Form filed 2026-06-01 for transactions on 2026-05-28 — appears timely (filed within required business-day window).
Context
- This was an RSU vesting event (conversion of contingent awards) followed by routine dispositions: shares were withheld to cover taxes and the remainder sold under a pre-established 10b5-1 plan. Converting RSUs to shares at $0 indicates no option exercise price was paid (these were vested awards rather than stock option cash exercises). Such sales are commonly for tax and diversification needs and do not by themselves indicate insider sentiment.
Insider Transaction Report
Form 4
Cieri Michael
Chief Product Officer
Transactions
- Exercise/Conversion
Common Stock
[F1][F2]2026-05-28+51,591→ 52,588 total - Tax Payment
Common Stock
[F3]2026-05-28$34.85/sh−18,716$652,253→ 33,872 total - Sale
Common Stock
[F4][F5]2026-05-29$35.68/sh−5,600$199,834→ 28,272 total - Sale
Common Stock
[F4][F6]2026-05-29$36.80/sh−23,775$874,982→ 4,497 total - Sale
Common Stock
[F4][F7]2026-05-29$37.10/sh−3,500$129,847→ 997 total - Exercise/Conversion
Restricted Stock Unit
[F1][F8]2026-05-28−51,591→ 154,770 total→ Common Stock (51,591 underlying)
Footnotes (8)
- [F1]Each Restricted Stock Unit ("RSU") represents a contingent right to receive one share of the Issuer's Common Stock.
- [F2]Includes 540 shares of the Issuer's Common Stock acquired under the Issuer's employee stock purchase plan on November 14, 2025, and 457 shares of the Issuer's Common Stock acquired under the Issuer's employee stock purchase plan on May 15, 2026.
- [F3]Represents shares withheld to satisfy the tax withholding obligation in connection with the vesting of RSUs.
- [F4]The sale reported on this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 2, 2025.
- [F5]The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $35.08 to $36.06 per share, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- [F6]The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $36.08 to $37.07 per share, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- [F7]The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $37.08 to $37.15 per share, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- [F8]The RSUs vest as to 1/4th of the total shares on May 28, 2026, and thereafter 1/16th of the total shares vest quarterly over three years, subject to the continued service of the Reporting Person on each vesting date.
Signature
/s/ Michael Dunn, Attorney-in-Fact|2026-06-01