Expensify (EXFY) director reports stock grants and tax-related share sales
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Expensify, Inc. director Daniel Vidal reported a mix of equity grants, RSU settlements, and tax-related share sales. He received awards of 20,925 and 72,413 shares of Class A common stock on March 13, 2026, described as grants or other acquisitions. On March 15, 2026, vested restricted stock units settled into both Class A and LT50 common stock, each RSU delivering one underlying share.
To cover taxes for these equity awards, issuer’s broker sold 7,668 Class A shares on March 17 and 24, 2026 at weighted average prices around $0.76 and $0.84, allocated pro rata to Vidal according to footnotes. Following these transactions, he directly held 454,545 Class A shares. The filing characterizes the sales as tax-cover transactions rather than discretionary open-market selling.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 7,668 shares ($5,948)
Net Sell
8 txns
Insider
Vidal Daniel
Role
null
Sold
7,668 shs ($6K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Class A Common Stock | 1,510 | $0.84 | $1K |
| Sale | Class A Common Stock | 6,158 | $0.76 | $5K |
| Exercise | Restricted Stock Units | 2,826 | $0.00 | -- |
| Exercise | Restricted Stock Units | 2,826 | $0.00 | -- |
| Exercise | LT50 Common Stock | 2,826 | $0.00 | -- |
| Exercise | Class A Common Stock | 2,826 | $0.00 | -- |
| Grant/Award | Class A Common Stock | 72,413 | $0.82 | $59K |
| Grant/Award | Class A Common Stock | 20,925 | $0.00 | -- |
Holdings After Transaction:
Class A Common Stock — 454,545 shares (Direct, null);
Restricted Stock Units — 39,554 shares (Direct, null);
LT50 Common Stock — 163,496 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.
Key Figures
Tax-cover sales: 7,668 shares
Holdings after transactions: 454,545 shares
Stock grant 1: 20,925 shares
+3 more
6 metrics
Tax-cover sales
7,668 shares
Class A shares sold via broker on Mar 17 and 24, 2026
Holdings after transactions
454,545 shares
Class A common stock directly owned after March 24, 2026
Stock grant 1
20,925 shares
Class A common stock granted Mar 13, 2026
Stock grant 2
72,413 shares
Class A common stock granted Mar 13, 2026
RSU exercises
8,478 units
Aggregate M-code RSU and LT50-related derivative exercises
LT50 conversion threshold
2% of common stock
Automatic LT10/LT50 conversion once below this share level
Key Terms
Restricted Stock Units, LT50 Common Stock, 2021 Stock Purchase and Matching Plan, weighted average price, +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
"The LT50 Common Stock is convertible into the Issuer's Class A Common Stock on a one-to-one basis only upon ..."
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 on the transaction date ..."
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")."
FAQ
What did Expensify (EXFY) director Daniel Vidal report in this Form 4?
Daniel Vidal reported equity grants, RSU settlements, and related tax-cover sales. He received Class A stock awards and RSU conversions, then a broker sold shares on his behalf to cover associated tax obligations, leaving him with substantial direct holdings after the transactions.
What equity awards did Daniel Vidal receive from Expensify (EXFY) in March 2026?
He received two notable Class A stock grants on March 13, 2026 of 20,925 and 72,413 shares. Additional transactions on March 15, 2026 show vested restricted stock units settling into Class A and LT50 common stock, each RSU representing the right to one underlying share.