Form 4: Expensify CEO David Barrett Sells Shares Under 10b5-1 Trading Plan
SEC Form 4 Filing
Expensify's CEO, David Michael Barrett, executed multiple sales of Class A Common Stock between March 15 and March 19, 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 March 15 and March 19, 2024.
- The sales were executed under a Rule 10b5-1 trading plan adopted on December 15, 2023.
- On March 15, 2024, 80,082 shares were sold at a weighted average price of $1.97, with prices ranging from $1.94 to $2.02.
- On March 18, 2024, 81,301 shares were sold at a weighted average price of $1.86, with prices ranging from $1.81 to $1.92.
- On March 19, 2024, 85,209 shares were sold at a weighted average price of $1.78, with prices ranging from $1.73 to $1.82.
- Following these transactions, Barrett directly owns 127,711 shares and indirectly owns 1,801,238 shares through Barrett Trust LLC.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock sales by an executive. It is neutral in tone and does not inherently indicate positive or negative sentiment.
Risks
- Executive stock sales can sometimes be perceived negatively by investors, potentially impacting the stock price.
Future Outlook
The document does not contain any forward-looking statements or guidance.
Industry Context
Insider trading activity is always closely watched by investors. Rule 10b5-1 plans are designed to allow insiders to sell shares without being accused of trading on non-public information, but large or frequent sales can still raise concerns.
Key Dates
| Date | Description |
|---|---|
| 2023/12/15 | Date of adoption of Rule 10b5-1 trading plan |
| 2024/03/15 | First transaction date: Sale of 80,082 shares |
| 2024/03/18 | Second transaction date: Sale of 81,301 shares |
| 2024/03/19 | Third transaction date: Sale of 85,209 shares |
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