Expensify (EXFY) Rule 144: 1,203 Shares Proposed Sale on 08/20/2025

Expensify, Inc. notice under Rule 144 reports a proposed sale of 1,203 Class A common shares through Morgan Stanley Smith Barney on 08/20/2025 with an aggregate market value of $2,069.16.

Rhea-AI Filing Summary

Expensify, Inc. notice under Rule 144 reports a proposed sale of 1,203 Class A common shares through Morgan Stanley Smith Barney on 08/20/2025 with an aggregate market value of $2,069.16. The filer states these shares were acquired on 08/19/2025 from Expensify, Inc. via an SPMP contribution and were paid as compensation. The filing also discloses three prior Class A Common sales by the same person during the past three months: 716 shares on 05/30/2025 for $1,589.52, 1,883 shares on 06/17/2025 for $4,293.24, and 2,820 shares on 06/20/2025 for $6,260.40. The filer certifies no undisclosed material adverse information and provides a signature attesting to the representations.

Positive

• Compliance disclosure filed under Rule 144, providing required details on acquisition, broker, sale date, and consideration
• Transparency about recent insider sales with specific dates, share amounts, and gross proceeds

Negative

• None.

Insights

Securities Analyst

TL;DR: Routine Rule 144 sale disclosure; small-volume insider sales provide transparency but are unlikely to materially affect EXFY valuation.

The filing documents a proposed sale of 1,203 Class A shares valued at $2,069 and records three prior small sales totaling 5,419 shares and $12,142.16 in gross proceeds over the past three months. Compared with the reported 80,549,275 shares outstanding, these transactions are immaterial in size. The filing meets Rule 144 disclosure requirements by stating acquisition date, nature of acquisition (SPMP contribution), consideration (compensation), broker, and planned sale date. From a market-impact perspective, the disclosure is neutral: it provides transparency about insider liquidity but lacks scale to change investor valuation models.

Corporate Governance Expert

TL;DR: Compliance-focused filing that documents insider sales and the required attestation; no governance red flags disclosed.

The notice includes the requisite representation that the signer is unaware of undisclosed material adverse information and identifies the acquisition method and payment type. The pattern of recent small sales is disclosed, which supports good governance and regulatory compliance. The filing does not indicate any trading plan dates or other updates that would suggest structured, ongoing insider disposition under Rule 10b5-1. Based solely on the submitted information, there are no indications of governance issues or material undisclosed events.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What does the Form 144 filed by Expensify (EXFY) disclose?

The filing discloses a proposed sale of 1,203 Class A shares via Morgan Stanley on 08/20/2025 valued at $2,069.16, acquired on 08/19/2025 as an SPMP contribution and paid as compensation.

How many shares has the filer sold in the past three months?

The filer sold a total of 5,419 Class A shares in three transactions: 716 on 05/30/2025, 1,883 on 06/17/2025, and 2,820 on 06/20/2025, with combined gross proceeds of $12,142.16.

Who is the broker handling the proposed sale in the Form 144?

The named broker is Morgan Stanley Smith Barney LLC Executive Financial Services located at 1 New York Plaza, New York, NY.

What was the acquisition method for the shares to be sold?

The 1,203 shares were acquired on 08/19/2025 through an SPMP contribution from Expensify, Inc., and the payment type is listed as compensation.

Does the filing state there is any undisclosed material adverse information?

The signer represents by signature that they do not know of any material adverse information regarding the issuer that has not been publicly disclosed.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 08/22/2025 - 04:43 PM Learn about SEC filing dates

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK	0001891061
Filer CCC	XXXXXXXX
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer	Expensify, Inc.
SEC File Number	001-41043
Address of Issuer	401 SW 5th Ave Portland OREGON 97204
Phone	971-365-3939
Name of Person for Whose Account the Securities are To Be Sold	Ryan Schaffer
See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.
Relationship to Issuer	Director
Relationship to Issuer	Officer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Class A Common	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza New York NY 10004	1203	2069.16	80549275	08/20/2025	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Class A Common	08/19/2025	SPMP Contribution	Expensify, Inc.			1203	08/19/2025	Compensation

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
Ryan Schaffer 401 SW 5th Ave Portland OR 97204	Class A Common	05/30/2025	716	1589.52
Ryan Schaffer 401 SW 5th Ave Portland OR 97204	Class A Common	06/17/2025	1883	4293.24
Ryan Schaffer 401 SW 5th Ave Portland OR 97204	Class A Common	06/20/2025	2820	6260.4

144: Remarks and Signature

Remarks	Note for 3(e): As of August 4, 2025, as stated in Issuer's quarterly report on Form 10-Q for the fiscal quarter ending June 30, 2025.
Date of Notice	08/22/2025
ATTENTION:
The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.
Signature	/s/ Cole Eason as attorney in fact
ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)