Expensify (NASDAQ: EXFY) director logs stock grants, RSU settlements and tax-related share sales
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Expensify, Inc. director Jason Fahr Mills reported a mix of equity awards, RSU settlements, derivative conversions, and tax-related share sales. On March 13, he acquired 26,058 shares of Class A common stock and 41,348 shares under the 2021 Stock Purchase and Matching Plan, both classified as grants or awards. On March 15, vested restricted stock units settled into 3,822 shares of Class A common stock and 3,822 shares of LT50 Common Stock through derivative exercises at a conversion price of $0.00 per unit.
To cover tax obligations tied to matched shares and RSU vesting for certain employees, a broker sold an aggregate 8,556 shares of Class A common stock on March 17 at a weighted average price of $0.76 and on March 24 at a weighted average price of $0.84. Following these transactions, Mills directly holds 549,634 shares of Class A common stock, and indirectly holds LT50 Common Stock representing 534,925 underlying Class A shares through entities he controls.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 8,556 shares ($6,645)
Net Sell
9 txns
Insider
Mills Jason Fahr
Role
null
Sold
8,556 shs ($7K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Class A Common Stock | 1,786 | $0.84 | $2K |
| Sale | Class A Common Stock | 6,770 | $0.76 | $5K |
| Exercise | Restricted Stock Units | 3,822 | $0.00 | -- |
| Exercise | Restricted Stock Units | 3,822 | $0.00 | -- |
| Exercise | LT50 Common Stock | 3,822 | $0.00 | -- |
| Exercise | Class A Common Stock | 3,822 | $0.00 | -- |
| Grant/Award | Class A Common Stock | 41,348 | $0.82 | $34K |
| Grant/Award | Class A Common Stock | 26,058 | $0.00 | -- |
| holding | LT50 Common Stock | -- | -- | -- |
Holdings After Transaction:
Class A Common Stock — 549,634 shares (Direct, null);
Restricted Stock Units — 53,497 shares (Direct, null);
LT50 Common Stock — 53,498 shares (Indirect, See note)
Footnotes (1)
- Shares purchased pursuant to the Expensify, Inc. 2021 Stock Purchase and Matching Plan ("SPMP"). Shares granted as matched shares pursuant to the 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. 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. By LILIJK LLC, a manager-managed limited liability company. The investment and voting decisions of LILIJK LLC are made by its manager, the Reporting Person, and its controlling member is the Figueroa-Mills Family Revocable Trust, for which the Reporting Person serves as trustee.
Key Figures
Shares sold to cover taxes: 8,556 shares
Weighted average sale price 17-Mar-2026: $0.76 per share
Weighted average sale price 24-Mar-2026: $0.84 per share
+5 more
8 metrics
Shares sold to cover taxes
8,556 shares
Broker sales on March 17 and March 24, 2026
Weighted average sale price 17-Mar-2026
$0.76 per share
Class A shares sold to cover tax obligations
Weighted average sale price 24-Mar-2026
$0.84 per share
Class A shares sold to cover tax obligations
Post-transaction direct Class A holdings
549,634 shares
Direct ownership after March 24, 2026 sale
Grant under SPMP
26,058 shares
Class A grant/award on March 13, 2026
SPMP acquisition
41,348 shares
Class A grant/award on March 13, 2026
RSU settlement into Class A
3,822 shares
Vested RSUs settled March 15, 2026
LT50 underlying Class A
534,925 shares
Indirect LT50 position convertible one-to-one
Key Terms
Restricted Stock Units, LT50 Common Stock, Expensify, Inc. 2021 Stock Purchase and Matching Plan, weighted average price, +2 more
6 terms
Restricted Stock Units financial
"Each restricted stock unit ("RSU") represents the contingent right to receive one share"
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 purchased pursuant to the Expensify, Inc. 2021 Stock Purchase and Matching Plan ("SPMP")."
weighted average price financial
"The price reported in Column 4 is a weighted average price of all shares sold"
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
Expensify Voting Trust financial
"Deposited into the Expensify Voting Trust (the "Voting Trust")."
grant, award, or other acquisition financial
"Transaction code description: Grant, award, or other acquisition"
FAQ
What did Expensify (EXFY) director Jason Fahr Mills report in this Form 4?
Jason Fahr Mills reported equity grants, RSU settlements, derivative conversions, and broker-facilitated sales of shares to cover tax obligations. The filing details new Class A and LT50 holdings as well as his updated post-transaction ownership position in Expensify stock.
How were Expensify (EXFY) RSUs and LT50 Common Stock treated in this filing?
Vested restricted stock units settled into 3,822 shares of Class A stock and 3,822 shares of LT50 Common Stock via derivative exercises at a $0.00 conversion price. Each RSU and LT50 unit represents the right to receive one underlying share upon vesting or conversion.
What is Jason Fahr Mills’ Expensify (EXFY) ownership after these transactions?
After the reported March 2026 transactions, Mills directly holds 549,634 shares of Expensify Class A common stock. He also indirectly holds LT50 Common Stock corresponding to 534,925 underlying Class A shares through entities in which he has investment and voting control.