David Michael Barrett - Sep 15, 2022 Form 4 Insider Report for Expensify, Inc. (EXFY)

Role: Chief Executive Officer, Director
Signature: /s/ Ryan Schaffer, as attorney-in-fact
Stock symbol: EXFY
Transactions as of: Sep 15, 2022
Transactions value $: -$600,777
Form type: 4
Date filed: 9/20/2022, 04:24 PM
Previous filing: Jun 27, 2022
Next filing: Oct 14, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	EXFY	Class A Common Stock	Award	$194K	+11.6K	+103.68%	$16.70	22.8K	Sep 15, 2022	Direct	F1
transaction	EXFY	Class A Common Stock	Award	$0	+1.14K	+5%	$0.00	24K	Sep 15, 2022	Direct	F2
transaction	EXFY	Class A Common Stock	Options Exercise		+57.9K	+241.13%		81.8K	Sep 15, 2022	Direct	F3
transaction	EXFY	Class A Common Stock	Tax liability	-$795K	-48.9K	-59.78%	$16.25	32.9K	Sep 15, 2022	Direct
transaction	EXFY	Class A Common Stock	Conversion of derivative security		+2.69K	+0.07%		3.59M	Sep 15, 2022	See note	F4, F5

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	Restricted Stock Units	Options Exercise	$0	-57.9K	-12.5%	$0.00	405K	Sep 15, 2022	Class A Common Stock	57.9K		Direct	F3, F6
transaction	EXFY	Restricted Stock Units	Options Exercise	$0	-57.9K	-12.5%	$0.00	405K	Sep 15, 2022	LT50 Common Stock	57.9K		Direct	F6, F7
transaction	EXFY	LT50 Common Stock	Options Exercise	$0	+57.9K		$0.00	57.9K	Sep 15, 2022	Class A Common Stock	57.9K		See note	F7, F8, F9
transaction	EXFY	LT50 Common Stock	Conversion of derivative security	$0	-2.69K	-0.07%	$0.00	3.59M	Sep 15, 2022	Class A Common Stock	2.69K		See note	F5, F8, F9

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

Explanation of Responses:

Id	Content
F1	Shares purchased pursuant to the Expensify, Inc. 2021 Stock Purchase and Matching Plan ("SPMP").
F2	Shares granted as matched shares pursuant to the SPMP.
F3	Each restricted stock unit represents the contingent right to receive one share of Class A common stock. This transaction represents the settlement of vested RSUs in shares of Class A Common Stock.
F4	LT50 Common Stock converted into Class A Common Stock on a one-for-one basis.
F5	By David Barrett Trust LLC, a manager-managed limited liability company. The investment and voting decisions of David Barrett Trust LLC are made by its manager, the Reporting Person, and its controlling member is the Barrett Family Trust, for which the Reporting Person serves as trustee.
F6	The restricted stock units vest 12.5% on September 15, 2022 and 1/32nd each quarter thereafter, on December 15th, March 15th, June 15th and September 15th.
F7	Each restricted stock unit represents the contingent right to receive one share of LT50 common stock. This transaction represents the settlement of vested RSUs in shares of LT50 Common Stock.
F8	The LT50 Common Stock is convertible into the Issuer's Class A Common Stock on a one-to-one basis only upon, and generally cannot be transferred without, satisfaction of certain notice and other requirements, including a notice period of 50 months. The LT50 Common Stock will automatically convert into shares of the Issuer's Class A Common Stock on a one-to-one basis at such time as all of the then-outstanding shares of LT10 and LT50 Common Stock represent, in the aggregate, less than 2% of all then-outstanding shares of common stock.
F9	Deposited into the Expensify Voting Trust (the "Voting Trust"). The Reporting Person retains investment control and dispositive power over the shares deposited into the Voting Trust.