Ryan Schaffer - Sep 15, 2024 Form 4 Insider Report for Expensify, Inc. (EXFY)

Role: Chief Financial Officer, Director
Signature: /s/ Ryan Schaffer
Stock symbol: EXFY
Transactions as of: Sep 15, 2024
Transactions value $: -$746
Form type: 4
Date filed: 9/19/2024, 08:39 AM
Previous filing: Sep 5, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	EXFY	Class A Common Stock	Options Exercise		+3.92K	+2.57%		156K	Sep 15, 2024	Direct	F1
transaction	EXFY	Class A Common Stock	Sale	-$6.08K	-2.67K	-1.7%	$2.28	154K	Sep 16, 2024	Direct	F2, F3
transaction	EXFY	Class A Common Stock	Award	$7.88K	+3.26K	+2.12%	$2.42	157K	Sep 17, 2024	Direct	F4
transaction	EXFY	Class A Common Stock	Award	$0	+3.37K	+2.15%	$0.00	160K	Sep 17, 2024	Direct	F5
transaction	EXFY	Class A Common Stock	Sale	-$2.54K	-1.12K	-0.7%	$2.27	159K	Sep 17, 2024	Direct	F6, 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	-3.92K	-4.76%	$0.00	78.5K	Sep 15, 2024	Class A Common Stock	3.92K		Direct	F1, F8
transaction	EXFY	Restricted Stock Units	Options Exercise	$0	-3.92K	-4.76%	$0.00	78.5K	Sep 15, 2024	LT50 Common Stock	3.92K		Direct	F8, F9
transaction	EXFY	LT50 Common Stock	Options Exercise	$0	+3.92K	+9.09%	$0.00	47.1K	Sep 15, 2024	Class A Common Stock	3.92K		See note	F9, 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 purchased pursuant to the Expensify, Inc. 2021 Stock Purchase and Matching Plan ("SPMP").
F5	Shares granted as matched shares pursuant to the SPMP.
F6	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.
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 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.
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.