Form 4: Expensify CEO David Barrett Sells Shares Under 10b5-1 Trading Plan
SEC Form 4 Filing
Expensify's CEO, David Barrett, executed multiple sales of Class A Common Stock between June 11 and June 13, 2024, under a pre-arranged Rule 10b5-1 trading plan.
Summary
- David Michael Barrett, CEO of Expensify, Inc., reported the sale of Class A Common Stock between June 11 and June 13, 2024.
- The sales were executed under a Rule 10b5-1 trading plan adopted on December 15, 2023.
- On June 11, 2024, 17,496 shares were sold at a weighted average price of $1.4, with individual prices ranging from $1.37 to $1.44.
- On June 12, 2024, 16,970 shares were sold at a weighted average price of $1.45, with individual prices ranging from $1.42 to $1.50.
- On June 13, 2024, 18,500 shares were sold at a weighted average price of $1.4.
- Following these transactions, Barrett directly owns 133,668 shares and indirectly owns 577,007 shares through Barrett Trust LLC.
- The investment and voting decisions of Barrett Trust LLC are made by its manager, the Reporting Person, and its controlling member is the Barrett Family Trust, for which the Reporting Person serves as trustee.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the document simply reports stock sales under a pre-arranged trading plan. There is no indication of positive or negative implications for the company.
Industry Context
Insider trading activity is always closely watched by investors as it can provide signals, though often noisy, about management's view of the company's prospects. In this case, the sales are pursuant to a pre-arranged 10b5-1 plan, which is designed to allow insiders to sell shares without being accused of trading on non-public information.
Key Dates
| Date | Description |
|---|---|
| 12/15/2023 | Date of adoption of Rule 10b5-1 trading plan |
| 06/11/2024 | Date of first reported transaction |
| 06/12/2024 | Date of second reported transaction |
| 06/13/2024 | Date of third reported transaction |
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