Natalie Derse
BILL HoldingsAbout Natalie Derse
Independent director nominee to BILL’s Class III slate (election scheduled for December 11, 2025), age 48, with a B.S. in Finance from the University of Dayton; currently CFO of Gen Digital since 2020, credited in BILL’s proxy with revenue more than doubling and EPS nearly tripling at GEN, including guiding the $1B acquisition of MoneyLion in 2025; expected to join BILL’s Audit Committee upon election, and determined independent under NYSE and SEC rules .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Gen Digital Inc. (Nasdaq: GEN) | Chief Financial Officer | 2020–present | Led strategy, forecasting, accounting, capital investment; revenue >2x and EPS ~3x since becoming CFO; led $1B MoneyLion acquisition in 2025 |
| eBay Inc. (Nasdaq: EBAY) | VP Finance, Product/Platform/Payments/Risk & Trust | 2020 | Drove growth via partnerships, marketing/advertising; oversaw global internal audit, ERM/compliance, BI/analytics, and core FP&A for $10B+ operation |
| eBay Inc. | VP Finance, Chief Audit Executive | 2019–2020 | Led internal audit and ERM/compliance |
| eBay Inc. | VP/COO, Americas | 2017–2019 | Operational leadership across Americas |
| eBay Inc. | Sr Director, Global FP&A | 2013–2017 | Led global FP&A and analytics |
| eBay Inc. | Director, Seller Finance & Analytics | 2011–2013 | Seller finance and analytics |
| Stanley Black & Decker (NYSE: SWK) | Director, FP&A | 2008–2011 | Brand/marketing/customer retention insights |
| General Electric (NYSE: GE) | Finance roles of increasing responsibility | 1998–2008 | Financial management across GE businesses |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Gen Digital Inc. (Nasdaq: GEN) | Chief Financial Officer | 2020–present | No other public company directorships disclosed in BILL’s 2025 proxy biography for Derse |
Board Governance
| Attribute | Status/Details |
|---|---|
| Independence | Board determined Natalie Derse meets NYSE and SEC independence requirements; all non-employee directors are independent |
| Committee assignments | Expected Audit Committee member post-Annual Meeting; chair expected to be Lee Kirkpatrick; other members include Keri Gohman and Tina Reich |
| Committee expertise alignment | Finance/accounting and senior operating leadership highlighted among her top skills—fit for Audit |
| Attendance | FY2025 attendance benchmark: all current directors ≥75% of meetings; Derse not on BILL’s Board in FY2025, so no attendance record yet |
| Executive sessions | Independent directors meet in regular executive sessions |
| Lead Independent Director | Allie Kline serves as Lead Independent Director; Chair/CEO roles are separated via LID structure |
Fixed Compensation
| Component | Amount/Structure | Vesting/Timing |
|---|---|---|
| Annual Board cash retainer | $35,000 per year for non-employee directors | Paid quarterly, prorated for partial service |
| Audit Committee member fee | $10,000 per year (non-chair) | Paid quarterly, prorated |
| Audit Committee chair fee | $20,000 per year (not applicable to Derse per proxy expectations) | Paid quarterly |
| Other committee fees | Compensation Committee member $7,500; Nominating & Corporate Governance member $4,000; Cybersecurity member $7,500; subcommittee (Compliance & Payments Ops Risk) member $4,000; chair fees vary | Paid quarterly |
| Initial equity award (RSUs) | ~$400,000 grant value upon Board appointment | Vests in 3 equal annual installments from grant date, subject to continued service |
| Annual equity award (RSUs) | ~$200,000 grant value at each annual meeting (prorated for partial-year service) | Vests by next annual meeting or one year from grant, subject to continued service |
| Stock ownership guideline | 5x the annual cash retainer for directors; 5-year compliance window from Board appointment/effective date | Must hold directly/beneficially owned shares; excludes unvested awards |
Performance Compensation
Directors at BILL do not receive performance-based equity or bonus metrics; director equity is time-based RSUs only. No TSR/financial PSUs are used for directors per policy .
| Program | Performance Metric | FY Policy | Notes |
|---|---|---|---|
| Director equity | None (time-based RSUs only) | Not applicable | No performance hurdles; vesting tied to continued service |
Other Directorships & Interlocks
| Connection | Detail | Governance Relevance |
|---|---|---|
| GEN–BILL network tie | Derse is CFO at Gen Digital; Peter Feld (BILL director) previously served on Gen Digital’s board (2018–2025) | Potential information flow/network familiarity; not a related-party transaction in BILL’s proxy |
| Activist agreement | BILL entered a Cooperation Agreement with Starboard; reimbursed up to $575,000 for reasonable documented expenses tied to its involvement | Signals governance engagement; Board refresh includes Feld/Kirkpatrick and nominations of Derse/Johnson |
Expertise & Qualifications
- Finance and Accounting; SaaS/Technology/Innovation; Senior Operating Leadership listed among her top skills, aligned with Audit oversight and BILL’s fintech/SaaS profile .
- Track record: Since becoming CFO five years ago at GEN, revenue >2x and EPS rose ~3x; led $1B MoneyLion acquisition in 2025, demonstrating disciplined capital allocation and M&A execution .
- Education: B.S., Finance, University of Dayton .
Equity Ownership
| Item | Status |
|---|---|
| Beneficial ownership in BILL | Not listed for Derse in the October 20, 2025 beneficial ownership table of directors/nominees; Beth Johnson appears, Derse does not |
| Ownership % of outstanding shares | Not disclosed for Derse in the proxy’s ownership table |
| Pledging/Hedging | Directors prohibited from hedging; pledging discouraged and requires CCO approval |
| Guideline compliance timing | Directors have up to five fiscal years to reach 5x cash retainer ownership |
Governance Assessment
- Positives: Independence affirmed; expected Audit Committee placement matches her finance skill set; robust governance architecture (Lead Independent Director, executive sessions, clawback policy, anti-hedging/pledging, no excise tax gross-ups, no single-trigger acceleration) supports investor alignment .
- Board effectiveness signals: Board refresh with four new independent nominees; creation of Cybersecurity Committee and Audit subcommittee focused on payments operations risk; strong stockholder engagement; FY2024 Say-on-Pay support of ~87% indicates investor confidence in pay practices .
- Watch items/RED FLAGS: Activist involvement and Cooperation Agreement reimbursements merit monitoring for influence dynamics; Derse’s dual role as a sitting CFO at GEN requires attention to time commitments and potential interlocks (Feld’s prior GEN board seat), though no related-party transactions involving Derse are disclosed .
- Attendance: No FY2025 attendance data for Derse; ensure early engagement/attendance post-election; Board targets at least 75% participation, with 5 Board meetings and frequent committee sessions in FY2025 .