Expensify, Inc. 8-K

What Happened Expensify, Inc. filed an 8-K reporting that Chief Operating Officer and board member Anu Muralidharan resigned effective December 29, 2025. The company says the resignation was not due to any disagreement with its operations, policies or practices. Daniel Vidal, Expensify’s Chief Strategy Officer and Director, will assume Ms. Muralidharan’s COO responsibilities. The company says Ms. Muralidharan is assisting with the transition and it does not anticipate disruption to operations or its strategic roadmap.

Key Details

• Separation agreement dated December 29, 2025: Ms. Muralidharan will receive $550,000 (inclusive of attorney’s fees) in exchange for a release of claims and compliance with restrictive covenants. Two‑thirds payable within 30 days of the ADEA Effective Date and the remaining one‑third payable 90 days after the initial payment.
• Board appointment: Carlos Alvarez Divo (Director of Engineering) was appointed to the Board effective December 29, 2025 and to the Executive and Compensation Committees; he will serve until the 2026 Annual Meeting or until a successor is elected.
• Board compensation/indemnity: Mr. Alvarez Divo will not receive separate director compensation and has entered the company’s standard director indemnification agreement.
• Prior compensation disclosed: From Jan 1, 2024 through Dec 29, 2025, Mr. Alvarez Divo received $1,889,362 in cash and $337,325 in stock‑based compensation as an employee.

Why It Matters This 8‑K documents an executive change and a modest one‑time separation payment that investors should note. Operational leadership responsibilities are being transferred internally (to Daniel Vidal) and the board vacancy was filled by an internal engineering leader, suggesting continuity rather than an external search. The financial impact appears limited to the disclosed $550,000 separation payment and no ongoing board pay for the new director.