BILL Holdings 2024 Proxy: Growth, Profitability, and SMB Focus

Ticker: BILL · Form: DEF 14A · Filed: Oct 25, 2024 · CIK: 1786352

Bill Holdings, Inc. DEF 14A Filing Summary
FieldDetail
CompanyBill Holdings, Inc. (BILL)
Form TypeDEF 14A
Filed DateOct 25, 2024
Risk Levellow
Pages14
Reading Time17 min
Key Dollar Amounts$1.3 billion, $258 million, $244 million, $300 billion, $500 million
Sentimentneutral

Sentiment: neutral

Topics: proxy-statement, annual-meeting, smb, financial-operations

Related Tickers: BILL

TL;DR

BILL Holdings' 2024 proxy shows strong growth & profitability, doubling down on SMB financial ops. Big year ahead.

AI Summary

BILL Holdings, Inc. is holding its annual meeting on October 25, 2024, to discuss its performance in fiscal year 2024. The company highlighted its mission to simplify financial operations for small and medium-sized businesses (SMBs) through its integrated platform, which has served nearly half a million SMBs. BILL Holdings emphasized strong growth and enhanced profitability in fiscal 2024, driven by innovations and strategic partnerships with accounting firms and banks.

Why It Matters

This proxy statement outlines BILL Holdings' strategic direction and financial performance, providing insights into the company's commitment to serving SMBs and its plans for future growth and profitability.

Risk Assessment

Risk Level: low — This filing is a standard proxy statement for an annual meeting, providing information to shareholders rather than announcing new material events.

Key Players & Entities

  • BILL Holdings, Inc. (company) — Registrant
  • October 25, 2024 (date) — Annual Meeting Date
  • Fiscal 2024 (date) — Reporting Period

FAQ

What is the primary mission of BILL Holdings, Inc. as stated in the filing?

The primary mission is to make it simple for SMBs to connect and do business, by helping businesses automate their financial back offices.

How many SMBs does BILL Holdings, Inc. currently serve?

BILL Holdings, Inc. currently serves nearly half a million SMBs.

What key areas did BILL Holdings, Inc. focus on delivering innovations for SMBs in fiscal 2024?

In fiscal 2024, BILL Holdings, Inc. launched its integrated platform, made capital more accessible, and empowered SMBs with insights and control of their cash flow.

What strategic partnerships does BILL Holdings, Inc. emphasize?

BILL Holdings, Inc. emphasizes strategic integration with accounting firms and top banks in the country.

What was the overall financial performance highlighted for fiscal 2024?

During fiscal 2024, BILL Holdings, Inc. delivered strong growth and enhanced profitability.

Filing Stats: 4,274 words · 17 min read · ~14 pages · Grade level 15.8 · Accepted 2024-10-25 08:31:20

Key Financial Figures

  • $1.3 billion — During fiscal 2024, we delivered nearly $1.3 billion in revenue and achieved 22% year-over-y
  • $258 million — -GAAP basis and delivered approximately $258 million of Free Cash Flow. Strong demand for ou
  • $244 million — execution led to Non-GAAP Net Income of $244 million. We are most proud of the significant
  • $300 billion — nd transact payments, we enabled nearly $300 billion in total B2B payment volume across our
  • $500 million — neral Manager at Intuit where she led a $500 million small business product portfolio, inclu

Filing Documents

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT 30 CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS 32 REPORT OF THE AUDIT COMMITTEE 33

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 34 INTRODUCTION 34 NAMED EXECUTIVE OFFICERS 34 2023 SAY ON PAY VOTE 34 STOCKHOLDER ENGAGEMENT 34 Outreach Program 34 Fall 2023 Outreach 34 Fall 2024 Outreach 35 Key Themes from Stockholder Engagement 35 FISCAL 2024 COMPANY PERFORMANCE RESULTS AND INCENTIVE PAYOUT SUMMARY 38 FISCAL 2024 COMPENSATION HIGHLIGHTS 39 REALIZED PAY FOR FISCAL 2024 41 COMPENSATION PROGRAM FOR FISCAL 2025 41 COMPENSATION PHILOSOPHY AND OBJECTIVES 41

EXECUTIVE COMPENSATION PROGRAM DESIGN

EXECUTIVE COMPENSATION PROGRAM DESIGN 43 COMPENSATION DECISION-MAKING PROCESS 45 PRINCIPAL ELEMENTS OF COMPENSATION 47 EQUITY COMPENSATION 50 ADDITIONAL INFORMATION 52 401(K) PLAN 54 LIMITATIONS ON LIABILITY AND INDEMNIFICATION MATTERS 54 RULE 10B5-1 SALES PLANS 55 REPORT OF THE COMPENSATION COMMITTEE 56 FISCAL 2024 SUMMARY COMPENSATION TABLE 57 i TABLE OF CONTENTS FISCAL 2024 GRANTS OF PLAN-BASED AWARDS TABLE 58 OUTSTANDING EQUITY AWARDS AT FISCAL YEAR-END TABLE 59 FISCAL 2024 STOCK OPTION EXERCISES AND STOCK VESTED TABLE 60 POTENTIAL PAYMENTS UPON TERMINATION OR CHANGE IN CONTROL 60 PAY-VERSUS-PERFORMANCE DISCLOSURE 63 CEO PAY RATIO 67 EQUITY COMPENSATION PLAN INFORMATION 68 OUR PROPOSALS 69 PROPOSAL NO. 1: ELECTION OF DIRECTORS 69 PROPOSAL NO. 2: RATIFICATION OF APPOINTMENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM 70 Independent Registered Public Accounting Firm Fees and Services 70 Audit Committee Policy on Pre-Approval of Audit and Permissible Non-Audit Services of Independent Registered Public Accounting Firm 71 Changes in Independent Registered Public Accounting Firm 71 PROPOSAL NO. 3: ADVISORY VOTE TO APPROVE THE COMPENSATION OF OUR NAMED EXECUTIVE OFFICERS 72 PROPOSAL NO. 4: APPROVAL OF AN AMENDMENT TO OUR RESTATED CERTIFICATE OF INCORPORATION TO PERMIT THE EXCULPATION OF OFFICERS FROM PERSONAL LIABILITY FOR CERTAIN BREACHES OF THE DUTY OF CARE 73 OUR ANNUAL MEETING AND GENERAL INFORMATION 74 INFORMATION ABOUT SOLICITATION AND VOTING 74 INTERNET AVAILABILITY OF PROXY MATERIALS 74 GENERAL INFORMATION ABOUT THE MEETING 74 Record Date; Quorum 74 Voting Rights; Required Vote 74 Abstentions; Withholding Authority; Broker Non-Votes 75 Recommendations of Our Board on Each of the Proposals Scheduled to be Voted on at the Annual Meeting 75 Voting Instructions; Voting of Proxies 75 Expenses of Soliciting Proxies 76 Rev

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