Expensify (EXFY) CEO Barrett records RSU vesting, tax-related Class A share sales

Filing Impact

(Neutral)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

Expensify CEO David Barrett reported a mix of equity awards and tax-related sales. On March 15, 2026, 14,463 restricted stock units settled into Class A common stock and 14,463 RSUs settled into LT50 common stock. Subsequent broker-handled sales of 2,692 shares at $0.76 and 10,114 shares at $0.84 per share were executed to cover taxes for matched-share and RSU grants to certain employees. After these transactions, Barrett directly holds 221,144 Class A shares and retains substantial indirect interests through Barrett Trust LLC and the Expensify Voting Trust.

Insider Trade Summary

Net Seller: 12,806 shares ($10,542)

Net Sell 9 txns

Insider Barrett David Michael

Role Chief Executive Officer

Sold 12,806 shs ($11K)

Type	Security	Shares	Price	Value
Sale	Class A Common Stock	10,114	$0.84	$8K
Sale	Class A Common Stock	2,692	$0.76	$2K
Exercise	Restricted Stock Units	14,463	$0.00	--
Exercise	Restricted Stock Units	14,463	$0.00	--
Exercise	LT50 Common Stock	14,463	$0.00	--
Exercise	Class A Common Stock	14,463	$0.00	--
Grant/Award	Class A Common Stock	6,920	$0.00	--
holding	LT50 Common Stock	--	--	--
holding	Class A Common Stock	--	--	--

Holdings After Transaction: Class A Common Stock — 221,144 shares (Direct, null); Restricted Stock Units — 202,484 shares (Direct, null); LT50 Common Stock — 260,336 shares (Indirect, See note); Class A Common Stock — 1,228,480 shares (Indirect, See note)

Footnotes (1)

Shares granted as matched shares pursuant to the Expensify, Inc. 2021 Stock Purchase and Matching Plan ("SPMP"). 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. 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. 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 $0.74 to $0.78, 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. 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. 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 $0.82 to $0.86, 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. By Barrett Trust LLC, a manager-managed limited liability company. The investment and voting decisions of Barrett Trust LLC are made by its manager, the Reporting Person, and its controlling member is the Barrett Family Trust, for which the Reporting Person serves as trustee. 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. Each restricted stock unit 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. 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. 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.

Key Figures

Shares sold for taxes: 12,806 Class A shares Sale price 1: $0.76 per share Sale price 2: $0.84 per share +5 more

8 metrics

Shares sold for taxes 12,806 Class A shares Broker-handled sales on March 17 and 24, 2026

Sale price 1 $0.76 per share 2,692 Class A shares sold on March 17, 2026

Sale price 2 $0.84 per share 10,114 Class A shares sold on March 24, 2026

RSUs settled into Class A 14,463 RSUs Settled into Class A common stock on March 15, 2026

RSUs settled into LT50 14,463 RSUs Settled into LT50 common stock on March 15, 2026

Direct Class A holdings 221,144 shares Directly owned by Barrett after reported transactions

Indirect LT50 position 3,583,249 underlying shares LT50 common stock convertible into Class A; indirect ownership

Indirect Class A holding entry 1,228,480 shares Class A common stock shown as indirectly owned

Key Terms

Restricted Stock Units, LT50 Common Stock, Expensify, Inc. 2021 Stock Purchase and Matching Plan, Expensify Voting Trust, +1 more

5 terms

Restricted Stock Units financial

"Each restricted stock unit ("RSU") represents the contingent right to receive one share of Class A common stock."

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

LT50 Common Stock financial

"Each restricted stock unit represents the contingent right to receive one share of LT50 common stock."

Expensify, Inc. 2021 Stock Purchase and Matching Plan financial

"Shares granted as matched shares pursuant to the Expensify, Inc. 2021 Stock Purchase and Matching Plan ("SPMP")."

Expensify Voting Trust financial

"Deposited into the Expensify Voting Trust (the "Voting Trust")."

Barrett Trust LLC financial

"By Barrett Trust LLC, a manager-managed limited liability company."

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Form 4 Insider Transactions: What Each Field Means →

06/11/2026 - 06:58 PM

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
Estimated average burden
hours per response:			0.5

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

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Barrett David Michael

(Last)

(First)

(Middle)

C/O EXPENSIFY, INC.

88 KEARNY ST, STE 1600

(Street)

SAN FRANCISCO

CALIFORNIA

94108

(City)

(State)

(Zip)

UNITED STATES

(Country)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/13/2026

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

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

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

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class A Common Stock	03/13/2026		A		6,920⁽¹⁾	A	$0	219,487	D
Class A Common Stock	03/15/2026		M		14,463	A	⁽²⁾	233,950	D
Class A Common Stock	03/17/2026		S		2,692⁽³⁾	D	$0.76⁽⁴⁾	231,258	D
Class A Common Stock	03/24/2026		S		10,114⁽⁵⁾	D	$0.84⁽⁶⁾	221,144	D
Class A Common Stock								1,228,480	I	See note⁽⁷⁾

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Restricted Stock Units	⁽²⁾	03/15/2026		M			14,463	⁽⁸⁾	12/15/2029	Class A Common Stock	14,463	$0	202,484	D
Restricted Stock Units	⁽⁹⁾	03/15/2026		M			14,463	⁽⁸⁾	12/15/2029	LT50 Common Stock	14,463	$0	202,484	D
LT50 Common Stock	⁽⁹⁾⁽¹⁰⁾	03/15/2026		M		14,463		⁽¹⁰⁾	⁽¹⁰⁾	Class A Common Stock	14,463	$0	260,336	I	See note⁽¹¹⁾
LT50 Common Stock	⁽¹⁰⁾							⁽¹⁰⁾	⁽¹⁰⁾	Class A Common Stock	3,583,249		3,583,249	I	See note⁽⁷⁾⁽¹¹⁾

Explanation of Responses:

1. Shares granted as matched shares pursuant to the Expensify, Inc. 2021 Stock Purchase and Matching Plan ("SPMP").

2. 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.

3. 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.

4. 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 $0.74 to $0.78, 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.

5. 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.

6. 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 $0.82 to $0.86, 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.

7. By Barrett Trust LLC, a manager-managed limited liability company. The investment and voting decisions of Barrett Trust LLC are made by its manager, the Reporting Person, and its controlling member is the Barrett Family Trust, for which the Reporting Person serves as trustee.

8. 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.

9. Each restricted stock unit 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.

10. 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.

11. 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.

Remarks:

	/s/ Ryan Schaffer, as attorney-in-fact	06/11/2026
	** 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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What did Expensify (EXFY) CEO David Barrett report in this Form 4?

David Barrett reported RSU vesting into Class A and LT50 common stock and related tax-covering share sales. The filing shows equity awards converting into 28,926 underlying shares plus small broker-handled sales tied to employee tax obligations, not discretionary open-market selling.

How many Expensify (EXFY) shares did the CEO sell and at what prices?

The filing shows sales of 2,692 Class A shares at $0.76 and 10,114 shares at $0.84. Footnotes explain these were broker-executed sales to cover taxes for matched-share and RSU grants to certain Expensify employees, rather than discretionary market sales.

How many Expensify (EXFY) shares does the CEO hold after these transactions?

After the reported transactions, David Barrett directly holds 221,144 shares of Expensify Class A common stock. He also has significant indirect interests via Barrett Trust LLC and LT50 common stock positions referenced in the filing, which are convertible into additional Class A shares on a one-to-one basis.

What RSU activity did Expensify (EXFY) disclose for its CEO?

The filing shows settlement of 14,463 restricted stock units into Class A shares and 14,463 RSUs into LT50 common stock. These RSUs vest over time, with an initial 12.5% vesting on September 15, 2022 and subsequent quarterly vesting events under Expensify’s equity plans.

What is LT50 common stock in the Expensify (EXFY) capital structure?

LT50 common stock is a separate class that converts into Class A common stock on a one-to-one basis. Conversion generally requires satisfaction of notice and other conditions, and all LT10 and LT50 shares automatically convert once they collectively represent less than 2% of total common stock.

How are Barrett’s indirect Expensify (EXFY) holdings structured?

Indirect holdings are shown through Barrett Trust LLC and the Expensify Voting Trust. Barrett Trust LLC’s voting and investment decisions are made by Barrett as manager and trustee of its controlling member, the Barrett Family Trust, and shares may be deposited into the Expensify Voting Trust while he retains dispositive power.