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 February 18 and February 20, 2025, under a pre-arranged 10b5-1 trading plan.
Summary
- David Michael Barrett, CEO of Expensify, Inc., sold shares of Class A Common Stock between February 18 and February 20, 2025.
- The sales were executed under a Rule 10b5-1 trading plan adopted on August 15, 2024.
- On February 18, 2025, 45,643 shares were sold at a weighted average price of $3.68, with prices ranging from $3.59 to $3.86.
- On February 19, 2025, 47,437 shares were sold at a weighted average price of $3.48, with prices ranging from $3.31 to $3.58.
- On February 20, 2025, 31,781 shares were sold at a weighted average price of $3.43, with prices ranging from $3.39 to $3.54.
- Following these transactions, Barrett directly owns 185,289 shares and indirectly owns 1,947,372 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 document is a routine SEC filing regarding stock sales by the CEO under a pre-arranged trading plan. It doesn't inherently indicate positive or negative sentiment, but rather a procedural disclosure.
Industry Context
Sales by company insiders are a common occurrence, often executed under pre-arranged trading plans like Rule 10b5-1 to avoid accusations of insider trading. The market typically analyzes these sales in the context of the company's performance and future prospects.
Stakeholder Impact
- Shareholders may react to the news of the CEO selling shares, although the pre-arranged nature of the sales may mitigate concerns.
Key Dates
| Date | Description |
|---|---|
| 2024/08/15 | Date of adoption of Rule 10b5-1 trading plan |
| 2025/02/18 | Date of first reported transaction |
| 2025/02/19 | Date of second reported transaction |
| 2025/02/20 | Date of third reported transaction |
Keywords
Expensify, EXFY, David Barrett, CEO, share sales, Form 4, 10b5-1 trading plan, Class A Common Stock, Barrett Trust LLC
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