Starboard Value's Significant Stake in BILL Holdings, Inc.

Starboard Value LP and its affiliated entities have filed a Schedule 13D with the SEC, disclosing a significant stake in BILL Holdings, Inc. The filing reveals that Starboard Value LP and its affiliates collectively own approximately 8.5% of BILL Holdings' common stock. The shares were acquired based on the belief that they were undervalued and represented an attractive investment opportunity. Starboard Value intends to nominate a slate of director candidates for election to BILL Holdings' Board at the 2025 Annual Meeting of Stockholders. The filing also details various transactions in BILL Holdings' securities over the past sixty days, including purchases and sales of common stock and forward contracts. Starboard Value has engaged in discussions with BILL Holdings' management and Board regarding opportunities for value creation and Board representation.