Expensify director sells 10,700 shares in planned trade

Expensify, Inc. director Carlos Eduardo Alvarez Divo reported an open-market sale of Class A Common Stock.

Rhea-AI Filing Summary

Expensify, Inc. director Carlos Eduardo Alvarez Divo reported an open-market sale of Class A Common Stock. He sold 10,700 shares at a weighted average price of $1.28 per share under a pre-arranged Rule 10b5-1 trading plan. Following this transaction, he directly holds 234,080 shares.

Insights

Equity governance analyst

Pre-planned, modest insider sale with substantial holdings retained.

Director Carlos Eduardo Alvarez Divo sold 10,700 shares of Expensify, Inc. Class A Common Stock at a weighted average of $1.28 per share. The transaction is coded as an open-market sale and is clearly identified as such.

The filing states this sale was executed under a Rule 10b5-1 trading plan adopted on December 31, 2025. Such plans are established in advance, so the timing of trades is generally routine rather than discretionary, which reduces the informational weight of this transaction.

After the sale, the director still directly owns 234,080 shares, indicating he retains a significant equity position relative to the 10,700 shares sold. The transaction uses a weighted average price, with individual trades ranging from $1.26 to $1.32 per share.

Insider Trade Summary 10b5-1

Net Seller: 10,700 shares

Net Sell 1 txn

Insider Alvarez Divo Carlos Eduardo

Role Director

Sold 10,700 shs ($14K)

Type	Security	Shares	Price	Value
Sale	Class A Common Stock	10,700	$1.28	$14K

Holdings After Transaction: Class A Common Stock — 234,080 shares (Direct)

Footnotes (2)

1. F1. The transactions reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 31, 2025.
2. F2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $1.26 to $1.32, inclusive. The reporting person undertakes to provide to Expensify, Inc., any security holder of Expensify, Inc., 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 ranges set forth in this footnote.

Key Figures

Shares sold: 10,700 shares Weighted average sale price: $1.28 per share Post-transaction holdings: 234,080 shares +2 more

5 metrics

Shares sold 10,700 shares Open-market sale of Class A Common Stock

Weighted average sale price $1.28 per share Average price for 10,700 shares sold

Post-transaction holdings 234,080 shares Shares directly owned after the sale

Sale price range $1.26–$1.32 per share Range of individual trade prices

Plan adoption date December 31, 2025 Rule 10b5-1 trading plan adoption

Key Terms

Rule 10b5-1 trading plan, weighted average price, open-market sale, Class A Common Stock

4 terms

Rule 10b5-1 trading plan regulatory

"The transactions reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 31, 2025."

A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.

weighted average price financial

"The price reported in Column 4 is a weighted average price."

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.

open-market sale financial

"transaction_action": "open-market sale""

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

Class A Common Stock financial

"security_title": "Class A Common Stock""

Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did Expensify (EXFY) disclose in this Form 4?

Expensify disclosed that director Carlos Eduardo Alvarez Divo sold 10,700 shares of Class A Common Stock. The shares were sold in open-market transactions at a weighted average price of $1.28 per share, with prices ranging from $1.26 to $1.32.

How many Expensify (EXFY) shares does the director hold after this sale?

After the reported sale, director Carlos Eduardo Alvarez Divo directly holds 234,080 shares of Expensify Class A Common Stock. This post-transaction holding shows he retains a substantial equity position even after selling 10,700 shares in the open market.

Was the Expensify (EXFY) insider sale made under a Rule 10b5-1 plan?

Yes. The filing states the transactions were carried out under a Rule 10b5-1 trading plan adopted on December 31, 2025. Such pre-arranged plans typically automate trades over time, reducing the significance of trade timing as a signal of insider sentiment.

What price did the Expensify (EXFY) director receive for the sold shares?

The filing reports a weighted average sale price of $1.28 per share for the 10,700 shares sold. Individual trades occurred in a price range from $1.26 to $1.32 per share, reflecting normal variation within the day’s trading activity.

Does this Expensify (EXFY) Form 4 involve derivative securities or option exercises?

No. The reported transaction involves only non-derivative Class A Common Stock sold in the open market. The derivative summary section is empty, indicating no option exercises, conversions, or other derivative-related transactions are disclosed in this particular Form 4.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 06/16/2026 - 03:15 PM EDT Learn about SEC filing dates

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).

X

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^*

Alvarez Divo Carlos Eduardo

(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
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/15/2026

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)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	06/15/2026		S(1)		10,700	D	$1.28(2)	234,080	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. The transactions reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 31, 2025.

2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $1.26 to $1.32, inclusive. The reporting person undertakes to provide to Expensify, Inc., any security holder of Expensify, Inc., 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 ranges set forth in this footnote.

Remarks:

	/s/ Ryan Schaffer, as attorney-in-fact	06/16/2026
	** 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)