Ryan Schaffer - 15 Sep 2023 Form 4 Insider Report for Expensify, Inc. (EXFY)

Role
Chief Financial Officer, Director
Signature
/s/ Ryan Schaffer
Issuer symbol
EXFY
Transactions as of
15 Sep 2023
Net transactions value
-$27,244
Form type
4
Filing time
01 Dec 2023, 19:53:44 UTC
Previous filing
06 Sep 2023
Next filing
09 Nov 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction EXFY Class A Common Stock Award $0 +7,452 +8.8% $0.000000 91,737 15 Sep 2023 Direct F1
transaction EXFY Class A Common Stock Tax liability $9,083 -2,210 -2.4% $4.11 89,527 15 Sep 2023 Direct
transaction EXFY Class A Common Stock Award $0 +16,737 +19% $0.000000 106,264 29 Nov 2023 Direct F1
transaction EXFY Class A Common Stock Sale $12,561 -5,212 -4.9% $2.41 101,052 30 Nov 2023 Direct F2, F3, F4
transaction EXFY Class A Common Stock Options Exercise $3,880 +4,000 +4% $0.9700 105,052 30 Nov 2023 Direct F5
transaction EXFY Class A Common Stock Sale $9,480 -4,000 -3.8% $2.37 101,052 30 Nov 2023 Direct F5, F6

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction EXFY Stock Option Options Exercise $0 -4,000 -1.2% $0.000000 324,283 30 Nov 2023 Class A Common Stock 4,000 $0.9700 Direct F5, F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

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).

Explanation of Responses:

Id Content
F1 Shares awarded under the Expensify, Inc. 2021 Stock Purchase and Matching Plan ("SPMP").
F2 Shares were sold solely to cover taxes for shares awarded under the SPMP.
F3 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.
F4 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 $2.39 to $2.44, 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.
F5 These transactions reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on March 16, 2023.
F6 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $2.33 to $2.42, inclusive. The reporting person undertakes to provide to Expensify, Inc., any security holder of Expensify, Inc., 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 ranges set forth in footnote (6) to this Form 4.
F7 Reflects remaining portion of the stock option that originally vested in 72 equal monthly installments beginning on May 12, 2019.