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AI brief of an SEC Form 8-K · Bill (BILL)

BILL Adds Four Directors Under Cooperation Agreement With Starboard Value

Neutral Impact 4 of 5 shareholder Written later

On October 15, 2025, BILL entered a cooperation agreement with activist investor Starboard Value LP, which withdrew its September 5, 2025 slate of director nominations for the 2025 annual meeting. The board will expand from 12 to 13 members, with Peter A. Feld and Lee Kirkpatrick joining as of October 17, 2025, and Natalie Derse and Beth Johnson nominated for election at the 2025 annual meeting. For shareholders, the filing changes board composition and removes the proxy contest for this meeting, but it discloses no financial results.

Key points

  • Starboard withdraws its September 5, 2025 director nominations for the 2025 annual meeting and agrees to vote in line with board recommendations, subject to limited exceptions.
  • Peter A. Feld and Lee Kirkpatrick join the board as Class II directors as of October 17, 2025, with terms expiring at the 2027 annual meeting.
  • Natalie Derse and Beth Johnson are nominated as Class III directors; Steve Cakebread and Brian Jacobs retire at the 2025 annual meeting.
  • Director Stephen Fisher resigned effective October 14, 2025, with the company saying the resignation was not due to any disagreement over operations, policies or practices.

The filing

CompanyBill (BILL)
Form8-K, current report
Filed with the SECOct 16, 2025, 8:09 AM ET
Accession number0001193125-25-240860

Items reported: 1.01 Material Definitive Agreement5.02 Director / Officer Change7.01 Regulation FD Disclosure

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:00 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 16, 2025.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.