Overview
- Starboard filed with the SEC revealing an 8.5% holding in BILL and an intent to push for changes, including nominating directors.
- BILL said it will engage with the activist and highlighted a $300 million share repurchase announced in August.
- Shares rose about 10% in after-hours trading on the disclosure, with the stock near $51, according to Benzinga.
- Four of 12 board seats are up for election this year, and Starboard may nominate up to four candidates before a Saturday deadline, according to reporting.
- The stock is down nearly half in 2025 and about 86% from its 2021 high, with analysts noting a revenue multiple near three times.