EXP 2020 SPV LP 4

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.