OpenView Management, LLC - 15 Nov 2021 Form 4 Insider Report for Expensify, Inc. (EXFY)

Role: 10%+ Owner
Signature: /s/ Rufus King, Chief Legal Officer of OpenView Management, LLC
Issuer symbol: EXFY
Transactions as of: 15 Nov 2021
Net transactions value: -$72,234,941
Form type: 4
Filing time: 17 Nov 2021, 16:01:00 UTC
Previous filing: 09 Nov 2021
Next filing: 03 Aug 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	EXFY	Class A Common Stock	Conversion of derivative security		+12,481,460	+40923%		12,511,960	15 Nov 2021	By OpenView Venture Partners IV, L.P.	F1, F2
transaction	EXFY	Class A Common Stock	Conversion of derivative security		+408,030	+40803%		409,030	15 Nov 2021	By OpenView Affiliates Fund IV, L.P.	F1, F3
transaction	EXFY	Class A Common Stock	Sale	$69,948,174	-2,785,670	-22%	$25.11^*	9,726,290	15 Nov 2021	By OpenView Venture Partners IV, L.P.	F2, F4
transaction	EXFY	Class A Common Stock	Sale	$2,286,768	-91,070	-22%	$25.11^*	317,960	15 Nov 2021	By OpenView Affiliates Fund IV, L.P.	F3, F4

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	EXFY	Series B Convertible Preferred Stock	Conversion of derivative security	$0	-359,072	-100%	$0.000000^*	0	15 Nov 2021	Class A Common Stock	3,590,720		By OpenView Venture Partners IV, L.P.	F1, F2
transaction	EXFY	Series B Convertible Preferred Stock	Conversion of derivative security	$0	-11,739	-100%	$0.000000^*	0	15 Nov 2021	Class A Common Stock	117,390		By OpenView Affiliates Fund IV, L.P.	F1, F3
transaction	EXFY	Series B-1 Convertible Preferred Stock	Conversion of derivative security	$0	-22,246	-100%	$0.000000^*	0	15 Nov 2021	Class A Common Stock	222,460		By OpenView Venture Partners IV, L.P.	F1, F2
transaction	EXFY	Series B-1 Convertible Preferred Stock	Conversion of derivative security	$0	-727	-100%	$0.000000^*	0	15 Nov 2021	Class A Common Stock	7,270		By OpenView Affiliates Fund IV, L.P.	F1, F3
transaction	EXFY	Series C Convertible Preferred Stock	Conversion of derivative security	$0	-866,828	-100%	$0.000000^*	0	15 Nov 2021	Class A Common Stock	8,668,280		By OpenView Venture Partners IV, L.P.	F1, F2
transaction	EXFY	Series C Convertible Preferred Stock	Conversion of derivative security	$0	-28,337	-100%	$0.000000^*	0	15 Nov 2021	Class A Common Stock	283,370		By OpenView Affiliates Fund IV, L.P.	F1, F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Each share of Convertible Preferred Stock was initially convertible on a one-for-one basis into the Issuer's Class A Common Stock at any time at the holder's election and had no expiration date. The number of underlying shares of common stock reported in Column 7 gives effect to a 10-for-1 forward stock split effective as of October 27, 2021, pursuant to which each share of Convertible Preferred Stock became convertible into 10 shares of Class A Common Stock. The Convertible Preferred Stock converted automatically upon closing of the Issuer's initial public offering.
F2	The securities are held by OpenView Venture Partners IV, L.P. ("OVP IV LP"). OpenView Management, LLC ("OVM LLC") is the general partner of OpenView General Partner IV, L.P. ("OGP IV LP"), which is the general partner of OVP IV LP. Each of OVM LLC and OGP IV LP disclaims beneficial ownership of all the shares held by OVP IV LP except to the extent, if any, of its pecuniary interest therein and this report shall not be deemed an admission that it is a beneficial owner of such securities for the purpose of Section 16 of the Exchange Act, or for any other purpose.
F3	The securities are held by OpenView Affiliates Fund IV, L.P. ("OAF IV LP"). OGP IV LP is the general partner of OAF IV LP. Each of OVM LLC and OGP IV LP disclaims beneficial ownership of all the shares held by OAF IV LP except to the extent, if any, of its pecuniary interest therein and this report shall not be deemed an admission that it is a beneficial owner of such securities for the purpose of Section 16 of the Exchange Act, or for any other purpose.
F4	These shares of Common Stock were sold in connection with the Issuer's initial public offering pursuant to the prospectus (including pursusant to the underwriters' exercise of their over-allotment option under such prospectus) dated November 12, 2021, and accompanying registration statement on Form S-1 (File No. 333-260297). The shares were sold at a price per share equal to the initial public offering price, net of underwriting discount and commissions.