Form 4: Expensify CEO David Barrett Sells Shares Under 10b5-1 Trading Plan

Expensify's CEO, David Michael Barrett, executed multiple sales of Class A Common Stock between June 3rd and June 5th, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• David Michael Barrett, CEO of Expensify, Inc., sold shares of Class A Common Stock between June 3rd and June 5th, 2024.
• The sales were executed under a Rule 10b5-1 trading plan adopted on December 15, 2023.
• On June 3, 2024, 16,910 shares were sold at a weighted average price of $1.46, with individual prices ranging from $1.43 to $1.51.
• On June 4, 2024, 16,845 shares were sold at a weighted average price of $1.46, with individual prices ranging from $1.44 to $1.50.
• On June 5, 2024, 17,060 shares were sold at a weighted average price of $1.44, with individual prices ranging from $1.41 to $1.46.
• Following these transactions, Barrett directly owns 680,957 shares and indirectly owns 714,862 shares through Barrett Trust LLC.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the document simply reports transactions under a pre-existing trading plan. It doesn't inherently indicate positive or negative sentiment about the company's prospects.

Industry Context

Insider selling can be interpreted in various ways by the market. It's important to consider the context of the 10b5-1 plan, which allows insiders to sell shares at predetermined times to avoid accusations of trading on non-public information.

Stakeholder Impact

• Shareholders may react to the news of insider selling, although the existence of a 10b5-1 plan may mitigate concerns.

Key Dates