BILL CPO Michael Cieri Receives 19,590-Share PSU Award

What Happened

• Michael Cieri, Chief Product Officer of BILL Holdings, was granted 19,590 performance-based restricted stock units (PSUs) on August 17, 2026. The award was reported as a derivative acquisition at $0.00 per PSU (grant/award), representing a conditional right to receive shares rather than an immediate purchase of stock.

Key Details

• Transaction date: 2026-08-17; filing date: 2026-08-19 (timely filing).
• Transaction type/code: Award/Grant (A) of 19,590 PSUs at $0.00.
• Each PSU equals a conditional right to one share of common stock (per the filing).
• Vesting/settlement: PSUs vest and settle over three years — 1/3 vests on August 28, 2026; the remaining 2/3 vest quarterly over the following two years, subject to Cieri’s continued service and satisfaction of performance criteria certified by the Audit Committee.
• Shares owned after the transaction: Not specified in the provided filing.
• No 10b5-1 plan, tax-withholding sale, or cash exercise noted in this filing.

Context

• PSUs are performance-conditioned awards that convert into actual shares only if performance and service conditions are met; they are not immediate share purchases or sales. Such awards compensate and retain executives and should not be read as an immediate market buy/sell signal.