Expensify director updates Form 4: 1,582 shares sold to cover RSU taxes

Rhea-AI Filing Summary

Expensify, Inc. (EXFY) director Vidal Daniel reported an amended Form 4 showing a sale of 1,582 shares of Class A common stock on 06/18/2025 to cover taxes from RSU vesting. The weighted-average sale price was $2.22, with execution prices ranging from $2.19 to $2.26. After the sale, the reporting person beneficially owned 294,235 shares. The amendment explains the related sale was omitted from an earlier Form 4 filed the same date due to a delay in receiving underlying information. The Form 4/A is signed by an attorney-in-fact on 09/24/2025.

Positive

• Amended filing corrects prior omission and enhances transparency
• Detailed price range ($2.19–$2.26) and weighted-average price ($2.22) disclosed
• Sale clearly identified as tax withholding related to RSU vesting, not a discretionary divestiture

Negative

• Insider sold 1,582 shares, reducing direct beneficial ownership
• Initial Form 4 omitted the related sale, requiring an amendment

Insights

Securities Analyst

TL;DR: Routine tax-withholding sale by an insider; amendment improves disclosure but is not material to company operations.

The filing documents a small, routine disposition of 1,582 Class A shares to satisfy tax withholding on RSU vesting, reported at a weighted-average price of $2.22. The amendment clarifies an omission from the initial Form 4 and restores completeness to insider transaction records. Given the size of the sale relative to total outstanding shares implied by the remaining holding (294,235 shares retained by the reporting person), this appears to be an administrative, non-economic change rather than a strategic divestiture.

Corporate Governance Expert

TL;DR: Disclosure remediation improves transparency; the transaction itself reflects routine tax-related mechanics of equity compensation.

Amending the Form 4 to include the broker sales that covered RSU withholding is a proper corrective disclosure. The filing provides price range details and an undertaking to provide breakdowns on request, which aligns with good disclosure practices. There is no indication of additional executive actions or governance changes in this document.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Vidal Daniel

(Last) (First) (Middle)

C/O EXPENSIFY, INC.

401 SW 5TH AVE

(Street)

PORTLAND OR 97204

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Expensify, Inc. [ EXFY ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
06/18/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)
06/18/2025

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	06/18/2025		S		1,582(1)	D	$2.22(2)	294,235	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Represents the Reporting Person's pro rata portion of the total shares sold on the transaction date to cover taxes upon the vesting of restricted stock units ("RSUs") for certain employees of the Issuer. On June 18, 2025, the Reporting Person filed a Form 4 reporting the RSU vesting but was unable to include this related sale due to a delay in receiving the underlying information.

2. 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 $2.19 to $2.26, 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.

Remarks:

	/s/ Ryan Schaffer, as attorney-in-fact	09/24/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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FAQ

What did Vidal Daniel report on the Form 4/A for EXFY?

The Form 4/A reports the sale of 1,582 Class A shares on 06/18/2025 to cover taxes upon RSU vesting, at a weighted-average price of $2.22.

Why were the shares sold according to the filing?

The filing states the shares were sold by the issuer's broker to cover tax withholding for RSU vesting for certain employees.

How many EXFY shares does the reporting person own after the transaction?

The reporting person beneficially owned 294,235 shares following the reported transaction.

What price range were the shares sold at?

Shares were sold in multiple transactions at prices ranging from $2.19 to $2.26.

When was the amendment signed and by whom?

The Form 4/A shows a signature by an attorney-in-fact, Ryan Schaffer, dated 09/24/2025.