Pao Ellen 4

What Happened

Pao Ellen, a director of Expensify, received a grant of 123,762 restricted stock units (RSUs) on May 22, 2026. The Form 4 reports the award as an acquisition (Code A) at $0.00 per RSU (reported value $0). Each RSU represents the right to receive one share of Class A common stock upon vesting.

Key Details

• Transaction date: 2026-05-22; Form 4 filed: 2026-07-07 (filed 46 days after the transaction).
• Transaction type: Award/Grant (Code A).
• Shares granted: 123,762 RSUs; acquisition price $0.00; reported total value $0.
• Shares owned after transaction: Not specified in this filing.
• Footnote: RSUs vest on the earlier of (i) the first anniversary of the grant date or (ii) immediately before the next Annual Meeting; each RSU converts to one share of Class A common stock.
• Filing timeliness: This Form 4 was filed late relative to the typical 2-business-day requirement, which reduces near-term transparency.

Context

This was a compensation grant to a non-employee director under Expensify’s Non-Employee Director Compensation Program, not an open-market purchase or sale. RSU awards are standard director compensation and only convert into shares upon vesting; they should be viewed differently from direct insider purchases or sales.