Expensify Executive Shows Confidence as COO Boosts Stake in Company

Rhea-AI Filing Summary

Anuradha Muralidharan, Chief Operating Officer and Director of Expensify (EXFY), reported multiple securities transactions on June 13-17, 2025:

• Acquired 11,605 Class A shares at $2.29 through the Stock Purchase and Matching Plan (SPMP)
• Received 1,322 matched shares at $0 through SPMP
• Converted 3,169 RSUs to Class A common stock on June 15
• Sold 521 shares at average price of $2.28 for tax coverage

Following these transactions, Muralidharan holds 84,039 Class A shares directly. Additionally, maintains 53,863 RSUs that vest quarterly and 137,377 LT50 Common Stock held indirectly through the Expensify Voting Trust. The LT50 shares are convertible to Class A shares after a 50-month notice period.

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^*

Muralidharan Anuradha

(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
X	Officer (give title below)		Other (specify below)
	Chief Operating Officer

3. Date of Earliest Transaction (Month/Day/Year)
06/13/2025

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	06/13/2025		A		11,605(1)	A	$2.29	80,069	D
Class A Common Stock	06/13/2025		A		1,322(2)	A	$0	81,391	D
Class A Common Stock	06/15/2025		M		3,169	A	(3)	84,560	D
Class A Common Stock	06/17/2025		S		521(4)	D	$2.28(5)	84,039	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
Restricted Stock Units	(3)	06/15/2025		M			3,169	(6)	12/15/2029	Class A Common Stock	3,169	$0	53,863	D
Restricted Stock Units	(7)	06/15/2025		M			3,169	(6)	12/15/2029	LT50 Common Stock	3,169	$0	53,863	D
LT50 Common Stock	(7)(8)	06/15/2025		M		3,169		(8)	(8)	Class A Common Stock	3,169	$0	137,377	I	See note(9)

Explanation of Responses:

1. Shares purchased pursuant to the Expensify, Inc. 2021 Stock Purchase and Matching Plan ("SPMP").

2. Shares granted as matched shares pursuant to the SPMP.

3. 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.

4. 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.

5. 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 $2.23 to $2.32, 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.

6. The RSUs vest 12.5% on September 15, 2022 and 1/32nd each quarter thereafter, on December 15th, March 15th, June 15th and September 15th.

7. Each RSU 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.

8. 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.

9. 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	06/18/2025
	** 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).
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FAQ

What insider trading activity occurred at EXFY on June 13, 2025?

On June 13, 2025, Anuradha Muralidharan (Chief Operating Officer) acquired 11,605 shares of Class A Common Stock at $2.29 per share through the company's 2021 Stock Purchase and Matching Plan (SPMP), and received an additional 1,322 matched shares at $0.

How many EXFY shares does COO Anuradha Muralidharan own after the June 2025 transactions?

Following the reported transactions, Anuradha Muralidharan directly owns 84,039 shares of EXFY Class A Common Stock, plus indirect ownership of 137,377 shares of LT50 Common Stock through the Expensify Voting Trust.

What is the vesting schedule for EXFY's Restricted Stock Units (RSUs)?

EXFY's RSUs vest 12.5% on September 15, 2022, and 1/32nd each quarter thereafter, occurring on December 15th, March 15th, June 15th, and September 15th.

How many EXFY shares did the COO sell to cover tax obligations?

On June 17, 2025, the COO sold 521 shares at a weighted average price of $2.28 (ranging from $2.23 to $2.32) to cover tax obligations related to shares awarded under the Stock Purchase and Matching Plan (SPMP).

What are the conversion terms for EXFY's LT50 Common Stock?

EXFY's LT50 Common Stock converts to Class A Common Stock on a one-to-one basis, requiring a 50-month notice period. Automatic conversion occurs when all outstanding LT10 and LT50 Common Stock collectively represent less than 2% of all outstanding common stock.