Jason Fahr Mills - 15 Nov 2021 Form 3 Insider Report for Expensify, Inc. (EXFY)

Role
Director
Signature
/s/ Ryan Schaffer, as attorney-in-fact
Issuer symbol
EXFY
Transactions as of
15 Nov 2021
Net transactions value
$0
Form type
3
Filing time
15 Nov 2021, 18:00:57 UTC
Next filing
27 Jun 2022
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding EXFY Class A Common Stock 622,890 15 Nov 2021 Direct

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
holding EXFY LT10 Common Stock 15 Nov 2021 Class A Common Stock 576,720 See footnote F1, F2
holding EXFY LT50 Common Stock 15 Nov 2021 Class A Common Stock 519,640 See footnote F2, F3
holding EXFY Stock Option 15 Nov 2021 Class A Common Stock 10,130 $12.97 Direct F4
holding EXFY Restricted Stock Units 15 Nov 2021 Class A Common Stock 122,280 Direct F5, F6
holding EXFY Restricted Stock Units 15 Nov 2021 LT50 Common Stock 122,280 Direct F5, F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The LT10 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 10 months. The LT10 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.
F2 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.
F3 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.
F4 The stock option vests in 48 equal monthly installments beginning on October 16, 2021.
F5 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.
F6 Each restricted stock unit represents the contingent right to receive one share of Class A common stock.
F7 Each restricted stock unit represents the contingent right to receive one share of LT50 common stock.

Remarks:

Exhibit List: Exhibit 24 Power of Attorney