Filing Details
- Accession Number:
- 0001476840-23-000092
- Form Type:
- 4
- Zero Holdings:
- No
- Publication Time:
- 2023-06-16 20:41:28
- Reporting Period:
- 2023-06-14
- Accepted Time:
- 2023-06-16 20:41:28
- SEC Url:
- Form 4 Filing
Issuer
| Cik | Name | Symbol | Sector (SIC) | IRS No |
|---|---|---|---|---|
| 1476840 | Expensify Inc. | EXFY | Services-Prepackaged Software (7372) | 270239450 |
Insiders
| Cik | Name | Reported Address | Insider Title | Director | Officer | Large Shareholder | Other |
|---|---|---|---|---|---|---|---|
| 1892682 | Michael David Barrett | C/O Expensify, Inc. 401 Sw 5Th Ave Portland OR 97204 | Chief Executive Officer | Yes | Yes | No | No |
Reported Non-Derivative Transactions
| Sec. Name | Acquisiton - Disposition | Date | Amount | Price | Remaning Holdings | Equity Swap Involved | Form Type | Code | Nature of Ownership | Explanation |
|---|---|---|---|---|---|---|---|---|---|---|
| Class A Common Stock | Acquisiton | 2023-06-14 | 1 | $6.96 | 75,989 | No | 4 | A | Direct | |
| Class A Common Stock | Acquisiton | 2023-06-14 | 3,692 | $0.00 | 79,681 | No | 4 | A | Direct | |
| Class A Common Stock | Disposition | 2023-06-14 | 1,346 | $7.00 | 78,335 | No | 4 | F | Direct | |
| Class A Common Stock | Disposition | 2023-06-14 | 30,000 | $6.99 | 3,122,676 | No | 4 | S | Indirect | See note |
| Class A Common Stock | Acquisiton | 2023-06-15 | 14,463 | $0.00 | 92,798 | No | 4 | M | Direct | |
| Class A Common Stock | Disposition | 2023-06-15 | 10,544 | $7.15 | 82,254 | No | 4 | F | Direct | |
| Class A Common Stock | Acquisiton | 2023-06-15 | 672 | $0.00 | 3,123,348 | No | 4 | C | Indirect | See note |
| Equity Swap Involved | Form Type | Code | Nature of Ownership | Explanation |
|---|---|---|---|---|
| No | 4 | A | Direct | |
| No | 4 | A | Direct | |
| No | 4 | F | Direct | |
| No | 4 | S | Indirect | See note |
| No | 4 | M | Direct | |
| No | 4 | F | Direct | |
| No | 4 | C | Indirect | See note |
Reported Derivative Transactions
| Sec. Name | Sec. Type | Acquisiton - Disposition | Date | Amount | Price | Amount - 2 | Price - 2 |
|---|---|---|---|---|---|---|---|
| Class A Common Stock | Restricted Stock Units | Disposition | 2023-06-15 | 14,463 | $0.00 | 14,463 | $0.00 |
| Lt50 Common Stock | Restricted Stock Units | Disposition | 2023-06-15 | 14,463 | $0.00 | 14,463 | $0.00 |
| Class A Common Stock | LT50 Common Stock | Acquisiton | 2023-06-15 | 14,463 | $0.00 | 14,463 | $0.00 |
| Class A Common Stock | LT50 Common Stock | Disposition | 2023-06-15 | 672 | $0.00 | 672 | $0.00 |
| Remaning Holdings | Exercise Date | Expiration Date | Equity Swap Involved | Transaction Form Type | Transaction Code | Nature of Ownership |
|---|---|---|---|---|---|---|
| 361,578 | 2029-12-15 | No | 4 | M | Direct | |
| 361,578 | 2029-12-15 | No | 4 | M | Direct | |
| 101,242 | No | 4 | M | Indirect | ||
| 3,583,932 | No | 4 | C | Indirect |
Footnotes
- Shares purchased pursuant to the Expensify, Inc. 2021 Stock Purchase and Matching Plan ("SPMP").
- Shares granted as matched shares pursuant to the SPMP.
- These sales on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on June 10, 2022. No other transactions reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan.
- The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $6.86 to $7.07, 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 (4) to this Form 4.
- 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.
- Each restricted stock unit 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.
- LT50 Common Stock converted into Class A Common Stock on a one-for-one basis.
- The restricted stock units vest 12.5% on September 15, 2022 and 1/32nd each quarter thereafter, on December 15th, March 15th, June 15th and September 15th.
- Each restricted stock unit 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.
- 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.
- 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.
Billionaire Hedge Funds
