Expensify (NASDAQ: EXFY) CEO sells 30,000 shares under Rule 10b5-1 trust plan

Rhea-AI Filing Summary

Expensify, Inc. Chief Executive Officer David Michael Barrett reported an open-market sale of 30,000 shares of Class A Common Stock at $0.85 per share on April 1, 2026. The shares were sold by Barrett Trust LLC under a pre-arranged Rule 10b5-1 trading plan. Following the transactions, entities associated with Barrett hold 212,567 shares directly and 1,198,480 shares indirectly.

Insights

Equity compensation and insider trading analyst

Pre-planned trust sale of 30,000 Expensify shares looks routine.

CEO David Michael Barrett, through Barrett Trust LLC, sold 30,000 Class A shares at $0.85. A Form 4 entry also shows continued direct ownership of 212,567 shares and indirect ownership of 1,198,480 shares after the transactions.

The filing states the trades were made under a Rule 10b5-1 trading plan adopted on March 31, 2025. Such plans are set in advance, so trade timing carries limited informational value. The sale represents only a fraction of the CEO’s visible indirect holdings, suggesting a routine liquidity move rather than a large position change.

Insider Trade Summary 10b5-1

Net Seller: 30,000 shares

Net Sell 2 txns

Insider Barrett David Michael

Role Chief Executive Officer

Sold 30,000 shs ($26K)

Type	Security	Shares	Price	Value
Sale	Class A Common Stock	30,000	$0.85	$26K
holding	Class A Common Stock	--	--	--

Holdings After Transaction: Class A Common Stock — 1,198,480 shares (Indirect, See note); Class A Common Stock — 212,567 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 March 31, 2025.
2. F2. By Barrett Trust LLC, a manager-managed limited liability company. The investment and voting decisions of Barrett Trust LLC are made by its manager, the Reporting Person, and its controlling member is the Barrett Family Trust, for which the Reporting Person serves as trustee.

Key Figures

Shares sold: 30,000 shares Sale price: $0.85 per share Indirect holdings after: 1,198,480 shares +3 more

6 metrics

Shares sold 30,000 shares Open-market sale of Class A Common Stock

Sale price $0.85 per share Price for 30,000-share sale on April 1, 2026

Indirect holdings after 1,198,480 shares Class A shares indirectly held via Barrett Trust LLC

Direct holdings after 212,567 shares Class A shares held directly by David Barrett

Rule 10b5-1 plan adoption date March 31, 2025 Trading plan governing reported sale

Net share change -30,000 shares Net effect across reported buy/sell transactions

Key Terms

Rule 10b5-1 trading plan, open-market sale, indirect ownership, Class A Common Stock, +1 more

5 terms

Rule 10b5-1 trading plan regulatory

"transactions were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person"

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.

open-market sale financial

"transaction_code_description: Sale in open market or private transaction"

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.

indirect ownership financial

"indirect or indirect: I, nature_of_ownership: See note, by Barrett Trust LLC"

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.

manager-managed limited liability company regulatory

"By Barrett Trust LLC, a manager-managed limited liability company"

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 06/11/2026 - 06:15 PM Accepted by SEC EDGAR 06/11/2026 - 06:14 PM Learn about SEC filing dates

FAQ

What did Expensify (EXFY) CEO David Barrett report in this Form 4?

The Form 4 shows CEO David Michael Barrett reported an open-market sale of 30,000 shares of Expensify Class A Common Stock at $0.85 per share, executed indirectly through Barrett Trust LLC, while retaining significant direct and indirect share ownership after the transaction.

How many Expensify (EXFY) shares did the CEO sell and at what price?

An entity associated with CEO David Barrett sold 30,000 shares of Expensify Class A Common Stock at $0.85 per share. The sale was reported as an open-market transaction and was conducted under a pre-arranged Rule 10b5-1 trading plan adopted in March 2025.

Were the Expensify (EXFY) CEO share sales under a Rule 10b5-1 plan?

Yes. The filing states the transactions were effected under a Rule 10b5-1 trading plan adopted by David Barrett on March 31, 2025. These pre-arranged plans automate trades, reducing the significance of trade timing as an indicator of the insider’s short-term view.

How many Expensify (EXFY) shares does the CEO hold after the reported transactions?

After the reported transactions, David Barrett holds 212,567 Expensify Class A shares directly and 1,198,480 shares indirectly through Barrett Trust LLC. These post-transaction figures show he maintains a substantial equity stake despite the 30,000-share open-market sale.

Who actually executed the 30,000-share sale related to Expensify (EXFY)?

The 30,000-share sale was executed by Barrett Trust LLC, a manager-managed limited liability company. David Barrett serves as manager of Barrett Trust LLC, and its controlling member is the Barrett Family Trust, for which he serves as trustee, giving him decision authority.

Is the Expensify (EXFY) CEO’s 30,000-share sale a major position change?

The sale covers 30,000 shares compared with 1,198,480 shares indirectly held after the transaction, indicating only a small portion of the CEO’s indirect holdings was sold. The remaining direct and indirect stakes suggest this filing reflects limited portfolio adjustment rather than a large exit.

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^*

Barrett David Michael

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/01/2026

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	04/01/2026		S(1)		30,000	D	$0.85	1,198,480	I	See note(2)
Class A Common Stock								212,567	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 March 31, 2025.

2. By Barrett Trust LLC, a manager-managed limited liability company. The investment and voting decisions of Barrett Trust LLC are made by its manager, the Reporting Person, and its controlling member is the Barrett Family Trust, for which the Reporting Person serves as trustee.

Remarks:

	/s/ Ryan Schaffer, as attorney-in-fact	06/11/2026
	** 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)