David Michael Barrett - Sep 15, 2024 Form 4 Insider Report for Expensify, Inc. (EXFY)

Signature
/s/ Ryan Schaffer, as attorney-in-fact
Stock symbol
EXFY
Transactions as of
Sep 15, 2024
Transactions value $
-$30,229
Form type
4
Date filed
9/19/2024, 08:39 AM
Previous filing
Aug 30, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction EXFY Class A Common Stock Options Exercise +14.5K +8.49% 185K Sep 15, 2024 Direct F1
transaction EXFY Class A Common Stock Sale -$25.3K -11.1K -6% $2.28 174K Sep 16, 2024 Direct F2, F3
transaction EXFY Class A Common Stock Award $0 +5.8K +3.34% $0.00 180K Sep 17, 2024 Direct F4
transaction EXFY Class A Common Stock Sale -$4.93K -2.17K -1.21% $2.27 177K Sep 17, 2024 Direct F5, F6
holding EXFY Class A Common Stock 2.57M Sep 15, 2024 See note F7

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 -4.76% $0.00 289K Sep 15, 2024 Class A Common Stock 14.5K Direct F1, F8
transaction EXFY Restricted Stock Units Options Exercise $0 -14.5K -4.76% $0.00 289K Sep 15, 2024 LT50 Common Stock 14.5K Direct F8, F9
transaction EXFY LT50 Common Stock Options Exercise $0 +14.5K +9.09% $0.00 174K Sep 15, 2024 Class A Common Stock 14.5K See note F9, F10, F11
holding EXFY LT50 Common Stock 3.58M Sep 15, 2024 Class A Common Stock 3.58M See note F7, F10, F11
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each restricted stock unit ("RSU") 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.
F2 Represents the Reporting Person's pro rata portion of the total shares sold on the transaction date to cover taxes upon the vesting of RSUs for certain employees of the Issuer.
F3 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 RSUs for certain employees of the Issuer. These shares were sold in multiple transactions at prices ranging from $2.25 to $2.32, inclusive. The reporting person undertakes to provide to Expensify, Inc., any security holder of Expensify, Inc., 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 ranges set forth in this footnote.
F4 Shares granted as matched shares pursuant to the Expensify, Inc. 2021 Stock Purchase and Matching Plan ("SPMP").
F5 Represents the Reporting Person's pro rata portion of the total shares sold on the transaction date to cover taxes for shares granted as matched shares under the SPMP for certain employees of the Issuer.
F6 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 granted as matched shares under the SPMP for certain employees of the Issuer. These shares were sold in multiple transactions at prices ranging from $2.23 to $2.33, inclusive. The reporting person undertakes to provide to Expensify, Inc., any security holder of Expensify, Inc., 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 ranges set forth in this footnote.
F7 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.
F8 The RSUs vest 12.5% on September 15, 2022 and 1/32nd each quarter thereafter, on December 15th, March 15th, June 15th, and September 15th.
F9 Each RSU 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.
F10 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.
F11 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.