EXP 2020 SPV LP 4
4 · Expensify, Inc. · Filed Mar 18, 2026
Research Summary
AI-generated summary of this filing
Expensify (EXFY) 10% Owner Steven McLaughlin Buys Stock
What Happened
Steven J. McLaughlin, a reported 10% owner of Expensify, made a series of open-market purchases of Class A common stock in early March 2026. The filing reports five buys totaling 2,263,444 shares for aggregate consideration of approximately $2,134,309:
- 2026-03-03: 500,000 shares at $0.97 — $485,000
- 2026-03-04: 327,144 shares at $1.02 — $334,995
- 2026-03-06: 480,389 shares at $0.96 — $461,654
- 2026-03-09: 455,911 shares at $0.95 — $432,660
- 2026-03-11: 500,000 shares at $0.84 — $420,000
These were purchases (a net buy activity), which investors typically view as a more informative/“bullish” insider action than routine sales.
Key Details
- Transaction dates: March 3, 4, 6, 9 and 11, 2026. Report filed with the SEC on 2026-03-18.
- Prices: reported per-trade weighted prices above; filing footnotes show actual purchase prices fell in ranges roughly $0.822 to $1.045 per share.
- Shares acquired: 2,263,444 total; aggregate cash spent ≈ $2.13M.
- Shares owned after transaction: not specified in the provided summary of the Form 4.
- Ownership/structure notes: Some shares are held directly by the Steven J. McLaughlin Revocable Trust and by EXP 2020 SPV LP (Roofdeck GP LLC is GP and is wholly owned by the Trust). McLaughlin disclaims beneficial ownership of the SPV-held securities except to the extent of his pecuniary interest. The reporting person offered to provide detailed breakdowns of purchases by price within the stated ranges.
- Timeliness: The Form 4 was filed on 2026-03-18 while the trades occurred March 3–11; this appears later than the typical two-business-day Section 16 reporting window for insiders, so the filing may be untimely (check the Form 4 for any tardiness disclosure).
Context
- As a 10% owner (not an executive trade summary), these purchases reflect significant insider buying by a principal investor structure (trust/SPV), which some investors interpret as a positive signal but does not reveal motive.
- No options exercises, gifts, or awards are reported in this filing — only open-market purchases.
- The filing’s footnotes indicate weighted-average pricing and offer to disclose per-price breakdowns if needed for more granularity.
Insider Transaction Report
Form 4
Expensify, Inc.EXFY
McLaughlin Steven J.
10% Owner
Transactions
- Purchase
Class A Common Stock
[F1][F2]2026-03-03$0.97/sh+500,000$485,000→ 10,439,949 total(indirect: See Footnote) - Purchase
Class A Common Stock
[F3][F2]2026-03-04$1.02/sh+327,144$334,995→ 10,767,093 total(indirect: See Footnote) - Purchase
Class A Common Stock
[F4][F2]2026-03-06$0.96/sh+480,389$461,654→ 11,247,482 total(indirect: See Footnote) - Purchase
Class A Common Stock
[F5][F2]2026-03-09$0.95/sh+455,911$432,660→ 11,703,393 total(indirect: See Footnote) - Purchase
Class A Common Stock
[F6][F2]2026-03-11$0.84/sh+500,000$420,000→ 12,203,393 total(indirect: See Footnote)
Holdings
- 1,783,610(indirect: See Footnote)
Class A Common Stock
[F7]
Footnotes (7)
- [F1]Weighted average purchase price for shares of Class A Common Stock purchased. Actual purchase price for shares purchased ranged from $0.93 to $1.00, inclusive. The Reporting Persons undertake to provide the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission full information regarding the number of shares purchased at each separate price within the ranges set forth footnotes (1), (3), (4), (5) and (6) to this Form 4.
- [F2]These shares are owned directly by the Steven J. McLaughlin Revocable Trust (the "Trust"), of which Steven J. McLaughlin is the sole trustee.
- [F3]Weighted average purchase price for shares of Class A Common Stock purchased. Actual purchase price for shares purchased ranged from $1.005 to $1.045, inclusive.
- [F4]Weighted average purchase price for shares of Class A Common Stock purchased. Actual purchase price for shares purchased ranged from $0.94 to $0.98, inclusive.
- [F5]Weighted average purchase price for shares of Class A Common Stock purchased. Actual purchase price for shares purchased ranged from $0.917 to $0.990, inclusive.
- [F6]Weighted average purchase price for shares of Class A Common Stock purchased. Actual purchase price for shares purchased ranged from $0.822 to $0.910, inclusive.
- [F7]These shares are owned directly by EXP 2020 SPV LP ("EXP"). SF Roofdeck GP LLC ("Roofdeck") serves as the general partner of EXP. Roofdeck is wholly owned by the Trust, of which Steven J. McLaughlin is the sole trustee. Mr. McLaughlin disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein.