Expensify Amendment: RSU Tax-Cover Sale Discloses Price Range $2.19–$2.26

Rhea-AI Filing Summary

Amended Form 4 for Expensify, Inc. (EXFY) shows that David Michael Barrett, who serves as both a director and the Chief Executive Officer, reported a sale of 10,589 shares of Class A common stock on 06/18/2025. The sale was executed to cover taxes related to RSU vesting and was reported at a weighted average price of $2.22, with individual sale prices ranging from $2.19 to $2.26. After the reported transaction, the filing states Mr. Barrett beneficially owned 200,087 shares directly. The Form is an amendment to the original Form 4 filed the same day and was signed by an attorney-in-fact, Ryan Schaffer, on 09/24/2025.

Positive

• Disclosure amendment clarifies previous reporting and provides full transaction details
• Price range for the multiple sales is disclosed ($2.19–$2.26), increasing transparency
• Transaction tied to RSU tax withholding, indicating administrative purpose rather than discretionary selling

Negative

• Insider sale of 10,589 shares reduces the reporting person’s direct holding
• Amendment filed months later (original transaction 06/18/2025, amendment signed 09/24/2025) indicating delayed reporting of the sale on the original Form 4

Insights

Financial Analyst

Routine tax-cover sale; limited company-level impact.

The filing documents a tax-withholding sale tied to RSU vesting rather than an open-market investment decision by management. The quantity sold (10,589 shares) and the weighted average price ($2.22) are disclosed, leaving a reported direct holding of 200,087 shares. For investors, this is a standard administrative transaction that does not indicate new strategic direction or material change to ownership structure.

Corporate Governance Expert

Amendment improves disclosure; no governance red flags apparent.

The amendment clarifies a previously reported RSU tax-cover sale and provides price range transparency ($2.19–$2.26). The use of an attorney-in-fact to sign is documented. There are no indications of unexpected insider disposition patterns or governance concerns based on the information provided; the transaction is consistent with routine executive compensation mechanics.

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

OMB APPROVAL

OMB Number:			3235-0287
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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^*

Barrett David Michael

(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
X	Officer (give title below)		Other (specify below)
	Chief Executive Officer

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		10,589(1)	D	$2.22(2)	200,087	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.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did the Form 4/A for EXFY disclose about David Michael Barrett's transactions?

The filing shows a sale of 10,589 Class A shares on 06/18/2025 at a weighted average price of $2.22 to cover taxes on RSU vesting.

How many shares does David Michael Barrett own after the transaction?

The Form reports that Mr. Barrett beneficially owned 200,087 shares directly following the reported sale.

Why were the shares sold according to the filing?

The shares were sold by the issuer’s broker to cover taxes upon the vesting of RSUs for certain employees; the reporting person’s portion of that sale is reported.

What price range did the sales occur at?

Sales underlying the weighted average price occurred at prices ranging from $2.19 to $2.26.

When was the amended Form 4 signed and by whom?

The amendment was signed by attorney-in-fact Ryan Schaffer on 09/24/2025.