Expensify (EXFY) CEO receives 2,094,974 stock options at $1.75 strike
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Expensify, Inc. reported that Chief Executive Officer David Michael Barrett received a grant of stock options covering 2,094,974 shares of Class A common stock. The options have an exercise price of $1.75 per share and expire on June 23, 2036. The award vests in 16 equal quarterly installments deemed to have begun on April 12, 2025, meaning the options become exercisable gradually over four years as long as vesting conditions are met.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Barrett David Michael
Role
Chief Executive Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Stock Option | 2,094,974 | $0.00 | -- |
Holdings After Transaction:
Stock Option — 2,094,974 shares (Direct, null)
Footnotes (1)
- [object Object]
Key Figures
Option grant size: 2,094,974 shares
Exercise price: $1.75 per share
Expiration date: June 23, 2036
+2 more
5 metrics
Option grant size
2,094,974 shares
Underlying Class A common stock in new option grant
Exercise price
$1.75 per share
Stock option conversion or exercise price
Expiration date
June 23, 2036
Option term end date
Shares after transaction
2,094,974 options
Total derivative securities following grant
Vesting schedule
16 equal quarterly installments
Vesting deemed to begin April 12, 2025
Key Terms
Stock Option, Class A Common Stock, exercise price, expiration date, +1 more
5 terms
Stock Option financial
"security_title: "Stock Option""
A stock option is a contract that gives you the right to buy or sell a company's stock at a specific price within a certain time frame. People use them to potentially make money if the stock's price moves favorably or to protect against losses. It's like holding a coupon that can be used to buy or sell stock at a set price later on.
Class A Common Stock financial
"underlying_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.
exercise price financial
"conversion_or_exercise_price: "1.7500""
The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.
expiration date financial
"expiration_date: "2036-06-23T00:00:00.000Z""
The expiration date is the deadline after which a financial contract, such as an option or a futures agreement, is no longer valid or can be exercised. It matters to investors because it determines the timeframe during which they can take action or benefit from the contract, similar to how a coupon or a food item has a limited period of usefulness. Once the expiration date passes, the contract loses its value or ability to be used.
vests in 16 equal quarterly installments financial
"The stock option vests in 16 equal quarterly installments"
FAQ
What did Expensify (EXFY) CEO David Barrett report in this Form 4?
David Michael Barrett reported receiving a stock option grant for 2,094,974 shares of Expensify Class A common stock. The options are a compensation-related award, not an open‑market share purchase or sale.
What is the exercise price of the new Expensify CEO stock options?
The stock options granted to Expensify CEO David Barrett have an exercise price of $1.75 per share. This is the fixed price at which he can later buy Class A common stock when the options vest.
When do the Expensify CEO’s new stock options start vesting?
The stock options are scheduled to vest in 16 equal quarterly installments deemed to have begun on April 12, 2025. This creates a four‑year vesting period with additional portions becoming exercisable each quarter.
When do the newly granted Expensify CEO stock options expire?
The stock options granted to Expensify CEO David Barrett expire on June 23, 2036. After that date, any unexercised portion of the option grant can no longer be exercised to acquire Expensify Class A common stock.