[Form 4] Expensify, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Ryan Schaffer, Chief Financial Officer and a director of Expensify, Inc. (EXFY), reported two Section 16 transactions. On 08/19/2025 he was awarded 3,309 shares under the Expensify 2021 Stock Purchase and Matching Plan (SPMP), increasing his direct beneficial ownership to 175,307 shares. On 08/20/2025 he sold 1,203 shares at a weighted average price of $1.72, leaving him with 174,104 shares. The sale represented the reporting person’s pro rata portion of shares sold to cover taxes related to SPMP awards; the broker executed multiple transactions at prices ranging from $1.70 to $1.74. The Form 4 is signed by Mr. Schaffer on 08/22/2025.

Positive

• Timely and detailed disclosure of grant and tax-related sale, including price range and weighted average
• Award under SPMP shows continued participation in company equity incentive program

Negative

• None.

Insights

Financial Analyst

TL;DR Routine insider award and tax-related sell-down; holdings changed modestly and disclosure is timely.

The filing records a 3,309-share grant under the company's SPMP followed by a 1,203-share brokered sale to cover tax obligations, leaving Schaffer with 174,104 directly held shares. The sale price range of $1.70–$1.74 and weighted average of $1.72 indicate small-scale liquidity transactions rather than opportunistic trading. For investors, this is a standard administrative transaction that provides transparency on executive share movements but does not, by itself, indicate a change in company fundamentals.

Corporate Governance Expert

TL;DR Disclosure aligns with Section 16 obligations and documents use of SPMP and tax-withholding sales.

The Form 4 clearly identifies the reporting person as both an officer (CFO) and director and specifies that the awarded shares were from the 2021 SPMP. The filing includes the required explanatory footnotes about tax-withholding sales and price range disclosure, and it is signed and dated. This satisfies routine governance and compliance expectations for insider reporting.

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).

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^*

Schaffer Ryan

(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 Financial Officer

3. Date of Earliest Transaction (Month/Day/Year)
08/19/2025

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	08/19/2025		A		3,309(1)	A	$0	175,307	D
Class A Common Stock	08/20/2025		S		1,203(2)	D	$1.72(3)	174,104	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. Shares awarded under the Expensify, Inc. 2021 Stock Purchase and Matching Plan ("SPMP").

2. 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.

3. 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 awarded under the SPMP for certain employees of the Issuer. These shares were sold in multiple transactions at prices ranging from $1.70 to $1.74, 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.

Remarks:

	/s/ Ryan Schaffer	08/22/2025
	** 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).
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.

FAQ

What transactions did EXFY CFO Ryan Schaffer report on Form 4?

He reported an award of 3,309 shares on 08/19/2025 and a sale of 1,203 shares on 08/20/2025.

How many shares does Ryan Schaffer own after these transactions?

Following the transactions Mr. Schaffer beneficially owned 174,104 shares of Class A common stock.

Why were shares sold on 08/20/2025 at EXFY?

The sale represented the reporting person’s pro rata portion of shares sold by the issuer’s broker to cover taxes for SPMP awards.

What price were the shares sold at in the Form 4?

The weighted average price was $1.72, with individual sale prices ranging from $1.70 to $1.74.

When was the Form 4 signed by the reporting person?

The Form 4 was signed by Ryan Schaffer on 08/22/2025.