0000950170-24-026702.txt : 20240305 0000950170-24-026702.hdr.sgml : 20240305 20240305203914 ACCESSION NUMBER: 0000950170-24-026702 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20240301 FILED AS OF DATE: 20240305 DATE AS OF CHANGE: 20240305 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Drees Daniel CENTRAL INDEX KEY: 0001886969 ORGANIZATION NAME: FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-40898 FILM NUMBER: 24724005 MAIL ADDRESS: STREET 1: 1210 AVIDXCHANGE LANE CITY: CHARLOTTE STATE: NC ZIP: 28206 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: AvidXchange Holdings, Inc. CENTRAL INDEX KEY: 0001858257 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PREPACKAGED SOFTWARE [7372] ORGANIZATION NAME: 06 Technology IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 1210 AVIDXCHANGE LANE CITY: CHARLOTTE STATE: NC ZIP: 28206 BUSINESS PHONE: 8005609305 MAIL ADDRESS: STREET 1: 1210 AVIDXCHANGE LANE CITY: CHARLOTTE STATE: NC ZIP: 28206 4 1 ownership.xml 4 X0508 4 2024-03-01 0001858257 AvidXchange Holdings, Inc. AVDX 0001886969 Drees Daniel C/O AVIDXCHANGE HOLDINGS, INC. 1210 AVIDXCHANGE LANE CHARLOTTE NC 28206 false true false false President false Common Stock 2024-03-01 4 M false 1788 A 518869 D Common Stock 2024-03-01 4 M false 5100 A 523969 D Common Stock 2024-03-01 4 M false 16325 A 540294 D Common Stock 2024-03-01 4 S false 856 13.15 D 539438 D Common Stock 2024-03-01 4 S false 2440 13.15 D 536998 D Common Stock 2024-03-01 4 S false 7807 13.15 D 529191 D Common Stock 2024-03-01 4 S false 27797 13.15 D 501394 D Restricted Stock Units 2024-03-01 4 M false 1788 0.00 D Common Stock 1788 0 D Restricted Stock Units 2024-03-01 4 M false 5100 0.00 D Common Stock 5100 20404 D Restricted Stock Units 2024-03-01 4 M false 16325 0.00 D Common Stock 16325 130597 D Upon vesting, restricted stock units convert into common stock on a one-for-one-basis. The sales reported on this Form 4 represent shares sold by the reporting person to cover tax withholding obligations in connection with the vesting and settlement of restricted stock units. The sales were to satisfy tax withholding obligations to be funded by a "sell to cover" transaction. This transaction was executed in multiple trades at prices ranging from $13.02 to $13.42. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the transaction was effected. On October 1, 2020, the reporting person was granted 28,564 restricted stock units, vesting 25% on the first anniversary of the vesting commencement date and quarterly thereafter. The vesting commencement date was February 15, 2020. On February 19, 2021, the reporting person was granted 81,612 restricted stock units, vesting 25% on the first anniversary of the vesting commencement date and quarterly thereafter. The vesting commencement date was February 15, 2021. On March 16, 2022, the reporting person was granted 261,194 restricted stock units, vesting 25% on the first anniversary of the vesting commencement date and quarterly thereafter. The vesting commencement date was February 15, 2022. /s/ Ryan Stahl, Attorney-in-Fact for Daniel Drees 2024-03-05 EX-24.POADREES 2 avdx-ex24_poadrees.htm EX-24.POADREES EX-24.POADrees

 

POWER OF ATTORNEY

 

Known all by these presents, that the undersigned hereby constitutes and appoints each of the General Counsel, who is currently Ryan Stahl, and the Chief Financial Officer, who is currently Joel Wilhite, and their respective successors, and S. Halle Vakani, and each of them acting alone, signing singly, the undersigned’s true and lawful attorney-in-fact to: (1) execute for and on behalf of the undersigned, in the undersigned’s capacity as an officer, director and/or 10% or more stockholder of AvidXchange Holdings, Inc. (the “Company”), Forms ID, 3, 4, 5, and Update Passphrase Acknowledgement (and any amendments thereto) in accordance with Section 16(a) of the Securities Exchange Act of 1934, as amended (the “1934 Act”) and Schedules 13D and/or Schedules 13G (and any amendments thereto) in accordance with the 1934 Act, and the rules promulgated thereunder; (2) do and perform any and all acts for and on behalf of the undersigned which may be necessary or desirable to complete and execute any such Form ID, 3, 4, 5, and Update Passphrase Acknowledgement and Schedules 13D and/or Schedules 13G (and any amendments thereto) and to file timely such form with the United States Securities and Exchange Commission and any stock exchange or similar authority; and (3) take any other action of any type whatsoever in connection with the foregoing which in the opinion of such attorney- in-fact may be of benefit to, in the best interest of, or legally required by, the undersigned, it being understood that the documents executed by such attorney-in-fact on behalf of the undersigned pursuant to this Power of Attorney shall be in such form and shall contain such terms and conditions as such attorney-in-fact may approve in such attorney-in-fact’s discretion.

 

The undersigned hereby grants to each such attorney-in-fact full power and authority to do and perform any and every act and thing whatsoever requisite, necessary or proper to be done in the exercise of any of the rights and powers herein granted, as fully to all intents and purposes as the undersigned might or could do if personally present, with full power of substitution or revocation, hereby ratifying and confirming that all such attorneys-in-fact, or such attorneys-in- facts’ substitute or substitutes, shall lawfully do or cause to be done by virtue of this power of attorney and the rights and powers herein granted. The undersigned acknowledges that the foregoing attorneys-in-fact, in serving in such capacity at the request of the undersigned, are not assuming, nor is the Company assuming, any of the undersigned's responsibilities to comply with Section 16 of the 1934 Act.

 

This Power of Attorney shall remain in full force and effect until the undersigned is no longer required to file Forms ID, 3, 4 and 5 and Schedules 13D and Schedules 13G with respect to the undersigned's holdings of and transactions in securities issued by the Company, unless earlier revoked by the undersigned in a signed writing delivered to each of the foregoing attorneys-in-fact.

 

IN WITNESS WHEREOF, the undersigned has caused this Power of Attorney to be executed as of this 20th day of February 2024.

 

/s/ Daniel Drees

 

 

Printed Name: Daniel Drees