David Michael Barrett - Dec 15, 2023 Form 4 Insider Report for Expensify, Inc. (EXFY)

Signature
/s/ Ryan Schaffer, as attorney-in-fact
Stock symbol
EXFY
Transactions as of
Dec 15, 2023
Transactions value $
-$29,338
Form type
4
Date filed
12/22/2023, 09:03 AM
Previous filing
Dec 18, 2023
Next filing
Mar 14, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction EXFY Class A Common Stock Award $15.10 +6 +0.01% $2.51 110K Dec 15, 2023 Direct F1
transaction EXFY Class A Common Stock Award $0 +4.33K +3.94% $0.00 114K Dec 15, 2023 Direct F2
transaction EXFY Class A Common Stock Sale -$3.99K -1.64K -1.43% $2.44 112K Dec 15, 2023 Direct F3, F4
transaction EXFY Class A Common Stock Options Exercise +14.5K +12.86% 127K Dec 15, 2023 Direct F5
transaction EXFY Class A Common Stock Sale -$25.4K -11K -8.65% $2.31 116K Dec 19, 2023 Direct F6, F7
holding EXFY Class A Common Stock 2.05M Dec 15, 2023 See note F8

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 -14.5K -4.17% $0.00 333K Dec 15, 2023 Class A Common Stock 14.5K Direct F5, F9
transaction EXFY Restricted Stock Units Options Exercise $0 -14.5K -4.17% $0.00 333K Dec 15, 2023 LT50 Common Stock 14.5K Direct F9, F10
transaction EXFY LT50 Common Stock Options Exercise $0 +14.5K +12.5% $0.00 130K Dec 15, 2023 Class A Common Stock 14.5K See note F10, F11, F12
holding EXFY LT50 Common Stock 3.58M Dec 15, 2023 Class A Common Stock 3.58M See note F8, F11, F12
* 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 Shares were sold solely to cover taxes for shares granted as matched shares under the SPMP.
F4 The price reported in Column 4 is a weighted average price of all shares sold on the transaction date by the Issuer's broker to cover taxes for shares awarded under the SPMP for certain employees of the Issuer. These shares were sold in multiple transactions at prices ranging from $2.39 to $2.47, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F5 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.
F6 Shares were sold solely to cover taxes upon the vesting of restricted stock units.
F7 The price reported in Column 4 is a weighted average price of all shares sold on the transaction date by the Issuer's broker to cover taxes upon the vesting of restricted stock units for certain employees of the Issuer. These shares were sold in multiple transactions at prices ranging from $2.28 to $2.34, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F8 By Barrett Trust LLC, a manager-managed limited liability company. The investment and voting decisions of 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.
F9 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.
F10 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.
F11 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.
F12 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.