Todd Alan Cunningham Form 4 AvidXchange / Todd Alan Cunningham ownership change

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Cunningham Todd Alan

(Last) (First) (Middle)

C/O AVIDXCHANGE HOLDINGS, INC

1210 AVIDXCHANGE LANE

(Street)

CHARLOTTE NC 28206

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
AvidXchange Holdings, Inc. [ AVDX ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
See Remarks

3. Date of Earliest Transaction (Month/Day/Year)
03/16/2022

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Employee Stock Option (right to buy)	$8.04	03/16/2022		A		116,504		(1)	03/16/2032	Common Stock	116,504	$0.00	116,504	D
Employee Stock Option (right to buy)	$0.27							10/09/2017	10/09/2024	Common Stock	80,772		80,772	D
Employee Stock Option (right to buy)	$0.97							04/23/2018	04/23/2025	Common Stock	47,664		47,664	D
Employee Stock Option (right to buy)	$2.04							03/25/2019	06/01/2026	Common Stock	19,604		19,604	D
Employee Stock Option (right to buy)	$3.18							03/29/2020	03/29/2027	Common Stock	10,000		10,000	D
Employee Stock Option (right to buy)	$3.22							(2)	03/05/2028	Common Stock	27,648		27,648	D
Employee Stock Option (right to buy)	$3.79							(3)	03/20/2029	Common Stock	29,260		29,260	D
Employee Stock Option (right to buy)	$10.42							(4)	10/01/2030	Common Stock	53,588		53,588	D
Employee Stock Option (right to buy)	$12.11							(5)	02/19/2031	Common Stock	100,960		100,960	D
Restricted Stock Units	(6)	03/16/2022		A		104,477		(7)	(7)	Common Stock	104,477	$0.00	104,477	D
Restricted Stock Units	(6)							(8)	(8)	Common Stock	10,200		10,200	D
Restricted Stock Units	(6)							(9)	(9)	Common Stock	32,136		32,136	D
Restricted Stock Units	(6)							(10)	(10)	Common Stock	40		40	D

Explanation of Responses:

1. The option vests 25% on the first anniversary of the vesting commencement date and quarterly thereafter over 12 quarters. The vesting commencement date was February 15, 2022.

2. The option vests 25% on the first anniversary of the grant date and monthly thereafter over 36 months. The grant date was March 5, 2018.

3. The option vests 25% on the first anniversary of the grant date and monthly thereafter over 36 months. The grant date was March 20, 2019.

4. The option vests 25% on the first anniversary of the vesting commencement date and quarterly thereafter over 12 quarters. The vesting commencement date was February 15, 2020.

5. The option vests 25% on the first anniversary of the vesting commencement date and quarterly thereafter over 12 quarters. The vesting commencement date was February 15, 2021.

6. Upon vesting, restricted stock units convert into common stock on a one-for-one-basis.

7. The restricted stock unit vests 25% on the first anniversary of the vesting commencement date and quarterly thereafter over 12 quarters. The vesting commencement date was February 15, 2022.

8. On October 1, 2020, the reporting person was granted 20,400 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.

9. On February 19, 2021, the reporting person was granted 42,848 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.

10. The restricted stock units will vest on November 15, 2022.

Remarks:

Chief People Officer, Senior Vice President

	/s/ Ryan Stahl, Attorney-in-Fact for Todd A. Cunningham	03/28/2022
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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