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Expensify, Inc.·4

Jun 11, 6:58 PM ET

Vidal Daniel 4

4 · Expensify, Inc. · Filed Jun 11, 2026

Research Summary

AI-generated summary of this filing

Updated

Expensify Director Vidal Daniel Acquires and Sells Shares

What Happened

  • Vidal Daniel, a director of Expensify, reported multiple transactions in March 2026. On 2026-03-13 he purchased 72,413 shares at $0.82 per share (total $59,379) under the company's stock purchase/matching plan and was granted 20,925 matched shares (no cash price). He also reported exercise/conversion of derivative interests for 2,826 shares on 2026-03-15. Separately, he sold 6,158 shares on 2026-03-17 at $0.76 ($4,680) and 1,510 shares on 2026-03-24 at $0.84 ($1,268).
  • Purchases/awards are typically seen as more informative than routine sell-to-cover transactions; the reported purchases here are modest in value ($59k) while the open-market sales were small tranches (~7.7k shares for ~$5.95k).

Key Details

  • Transaction dates and prices:
    • 2026-03-13: Purchase 72,413 @ $0.82 = $59,379 (SPMP purchase; F1)
    • 2026-03-13: Award/Matched shares 20,925 @ $0.00 (F2)
    • 2026-03-15: Exercise/conversion of derivative(s) for 2,826 shares (M; reported at $0.00/$N/A)
    • 2026-03-17: Open-market sale 6,158 @ $0.76 = $4,680
    • 2026-03-24: Open-market sale 1,510 @ $0.84 = $1,268
  • Shares owned after the transactions: not stated in the provided filing excerpt.
  • Notable footnotes: purchases were under the Expensify 2021 Stock Purchase & Matching Plan (F1, F2); some sales reflect broker sales to cover taxes on matched shares/RSU vesting (see F4–F7); certain RSU/long-term share types may have conversion/transfer restrictions (LT50 rules, F10, F9); some shares may be deposited into the company Voting Trust while the reporting person retains investment/dispositive control (F11).
  • Filing timeliness: Report filed 2026-06-11 for transactions in March 2026 (period of report 2026-03-13), indicating a delayed filing relative to the transaction dates.

Context

  • The 3/15 derivative entries indicate exercises/conversions of derivative securities (e.g., vested RSUs or similar instruments); some related zero-dollar disposals likely reflect internal settlement or share-for-share transfers rather than open-market cash sales.
  • The small open-market sales appear consistent with routine sell-to-cover tax-withholding activity described in footnotes rather than large-scale divestiture.
  • As always, these filings are factual disclosures of trades and grants; they do not by themselves prove intent or signal about future company performance.

Insider Transaction Report

Form 4
Period: 2026-03-13
Expensify, Inc.EXFY
Vidal Daniel
Director
Transactions
  • Award

    Class A Common Stock

    [F1]
    2026-03-13$0.82/sh+72,413$59,379→ 438,462 total
  • Award

    Class A Common Stock

    [F2]
    2026-03-13+20,925→ 459,387 total
  • Exercise/Conversion

    Class A Common Stock

    [F3]
    2026-03-15+2,826→ 462,213 total
  • Sale

    Class A Common Stock

    [F4][F5]
    2026-03-17$0.76/sh−6,158$4,680→ 456,055 total
  • Sale

    Class A Common Stock

    [F6][F7]
    2026-03-24$0.84/sh−1,510$1,268→ 454,545 total
  • Exercise/Conversion

    Restricted Stock Units

    [F3][F8]
    2026-03-15−2,826→ 39,554 total
    Exp: 2029-12-15→ Class A Common Stock (2,826 underlying)
  • Exercise/Conversion

    Restricted Stock Units

    [F9][F8]
    2026-03-15−2,826→ 39,554 total
    Exp: 2029-12-15→ LT50 Common Stock (2,826 underlying)
  • Exercise/Conversion

    LT50 Common Stock

    [F9][F10][F11]
    2026-03-15+2,826→ 163,496 total(indirect: See note)
    → Class A Common Stock (2,826 underlying)
Footnotes (11)
  • [F1]Shares purchased pursuant to the Expensify, Inc. 2021 Stock Purchase and Matching Plan ("SPMP").
  • [F10]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.
  • [F11]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.
  • [F2]Shares granted as matched shares pursuant to the SPMP.
  • [F3]Each restricted stock unit ("RSU") 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.
  • [F4]Represents the Reporting Person's pro rata portion of the total shares sold on the transaction date to cover taxes for shares granted as matched shares under the SPMP for certain employees of the Issuer.
  • [F5]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 granted as matched shares under the SPMP for certain employees of the Issuer. These shares were sold in multiple transactions at prices ranging from $0.74 to $0.78, 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.
  • [F6]Represents the Reporting Person's pro rata portion of the total shares sold on the transaction date to cover taxes upon the vesting of RSUs for certain employees of the Issuer.
  • [F7]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 upon the vesting of RSUs for certain employees of the Issuer. These shares were sold in multiple transactions at prices ranging from $0.82 to $0.86, 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.
  • [F8]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.
  • [F9]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.
Signature
/s/ Ryan Schaffer, as attorney-in-fact|2026-06-11

Documents

1 file
  • 4
    wk-form4_1781218726.xmlPrimary

    FORM 4