[Form 4] Expensify, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Jason Fahr Mills, a director of Expensify, Inc. (EXFY), reported two transactions in Class A common stock on August 19–20, 2025. On 08/19/2025 he was awarded 5,604 shares under the company's 2021 Stock Purchase and Matching Plan at a reported acquisition price of $0 (award shares). On 08/20/2025 he sold 1,387 shares to cover taxes related to those awards at a weighted average sale price of $1.72 per share (sales occurred at prices ranging $1.70–$1.74). After these transactions, the reporting person beneficially owned 368,401 shares of Class A common stock. The Form 4 was signed on behalf of the reporting person by an attorney-in-fact, Ryan Schaffer, with a signature date of 08/22/2025.

Insights

Securities Analyst

TL;DR: Routine equity award and small tax-covering sale by a director; no evident change to control or major dilution.

The filing documents a standard issuance of 5,604 award shares under the SPMP and a subsequent sale of 1,387 shares to satisfy tax withholding obligations at a weighted average price of $1.72. These are customary actions following equity grants and do not indicate a change in management intent or corporate strategy. The remaining beneficial ownership of 368,401 Class A shares implies continued significant insider stake, but the filing contains no information on voting agreements, pledges, or other material arrangements.

Corporate Governance Expert

TL;DR: Typical post-grant mechanics executed; transactions appear administrative and immaterial to governance.

The Form 4 shows an award issued under the company SPMP and a pro rata sale to cover taxes—common practice that conserves cash for the director while satisfying withholding requirements. The report is limited to share counts and prices; there are no indications of accelerated vesting, transfers to third parties, or changes in director status. Signature by an attorney-in-fact is noted and properly disclosed.

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

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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).

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^*

Mills Jason Fahr

(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)
08/19/2025

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

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	08/19/2025		A		5,604(1)	A	$0	369,788	D
Class A Common Stock	08/20/2025		S		1,387(2)	D	$1.72(3)	368,401	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. Shares awarded under the Expensify, Inc. 2021 Stock Purchase and Matching Plan ("SPMP").

2. Represents the Reporting Person's pro rata portion of the total shares sold on the transaction date to cover taxes for shares awarded under the SPMP for certain employees of the Issuer.

3. 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 awarded under the SPMP for certain employees of the Issuer. These shares were sold in multiple transactions at prices ranging from $1.70 to $1.74, 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	08/22/2025
	** 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 EXFY director Jason Fahr Mills acquire and when?

On 08/19/2025 he was awarded 5,604 Class A shares under the Expensify 2021 SPMP at a reported acquisition price of $0.

Why were shares sold on 08/20/2025 and at what price?

A pro rata portion of 1,387 shares was sold to cover taxes related to the award; the weighted average sale price was $1.72, with transaction prices ranging from $1.70–$1.74.

How many EXFY shares does the reporting person own after these transactions?

Following the reported transactions the reporting person beneficially owned 368,401 Class A common shares.

Who signed the Form 4 and when?

The Form 4 was signed on behalf of the reporting person by attorney-in-fact Ryan Schaffer on 08/22/2025.

Do these transactions indicate a change in control or governance at EXFY?

No. The filing documents standard award issuance and tax-covering sale; it does not disclose any transfers affecting control or governance.