Alvarez Divo Carlos Eduardo 4

What Happened
Carlos Alvarez Divo, a director of Expensify, had multiple transactions in mid‑March 2026: he acquired awards/purchases and settled vested RSUs/derivatives totaling 111,959 shares (including a 59,500‑share purchase at $0.82 costing $48,790 and other awards/RSU settlements reported at $0 cost) and sold 20,380 shares in open‑market/private sales that generated about $16,247 in proceeds. Net across these reported trades he increased his holdings by 91,579 shares (111,959 acquired minus 20,380 sold). The Form 4 was filed on June 11, 2026, covering transactions from March 13–30 (appears to be a late filing).

Key Details

• Transaction dates & amounts:
  • 2026-03-13: Acquired 59,500 shares at $0.82 (cost $48,790) — SPMP purchase (F1).
  • 2026-03-13: Acquired 16,359 shares @ $0.00 — likely matched shares/RSU settlement (F2/F3).
  • 2026-03-15: Exercise/conversion of derivative(s) for 2,467 shares (reported $0.00) — settlement/conversion noted (M; F12/F13).
  • 2026-03-20: Acquired 33,633 shares @ $0.00 — award/RSU settlement (F6/F3).
  • Open‑market/private sales: 3/17 (6,230 sh @ $0.76), 3/24 (1,699 sh @ $0.84), 3/30 (12,451 sh @ $0.81) — total ~20,380 sh, proceeds ~$16,247.
• Net position change from these entries: +91,579 shares (not the total shares owned; Form 4 excerpt did not state post‑transaction total holdings).
• Notable footnotes: purchases/awards tied to the 2021 Stock Purchase & Matching Plan (SPMP — F1, F2, F6); several sales appear to be broker sell‑to‑cover transactions to satisfy tax withholding with weighted average price ranges disclosed in footnotes (F4–F10); RSU vesting schedule referenced (F11); some shares involve LT50 common stock conversion/settlement mechanics (F12–F13); shares deposited into a voting trust while the reporting person retains control (F14).
• Filing timeliness: Form 4 filed ~3 months after the March transactions (filed 2026-06-11), which indicates a late filing relative to typical Form 4 timing.

Context

• Many of the acquisitions are awards or RSU settlements (zero cash cost reported) or matched shares under the company SPMP; several sales are identified in the filing as sell‑to‑cover/tax withholding transactions rather than discretionary open‑market divestitures.
• For derivative/option entries: the 3/15 entries appear to be exercises/conversions/settlements of vested awards or LT50 shares (reported at $0), with some resulting shares then sold to cover taxes.
• These types of award/settlement plus sell‑to‑cover patterns are common and do not necessarily indicate a change in insider sentiment; purchases (like the SPMP purchase at $0.82) are more directly informative of insider cash deployment.