SCHEDULE 13G/A: Expensify Insider David Barrett Discloses 6.1% Beneficial Ownership Stake
Beneficial Ownership Report
David Barrett, individually and through Barrett Trust LLC, has disclosed a combined beneficial ownership of 6.1% of Expensify, Inc.'s Class A Common Stock as of December 31, 2024.
Summary
- David Barrett, individually and as trustee of the Barrett Family Trust, along with Barrett Trust LLC, collectively reported beneficial ownership of Expensify, Inc. Class A Common Stock.
- As of December 31, 2024, David Barrett beneficially owns an aggregate of 4,755,006 shares, representing 6.1% of the Class A Common Stock.
- This ownership for David Barrett includes 1,176,949 shares held directly, 1,344,270 shares acquirable through stock options within 60 days of September 30, 2024, and 2,233,787 shares deemed beneficially owned through Barrett Trust LLC.
- Barrett Trust LLC directly holds 2,233,787 shares, representing 2.9% of the Class A Common Stock, with investment and voting decisions made by Mr. Barrett as its manager.
- The beneficial ownership calculation is based on 77,155,951 shares of Class A Common Stock outstanding as of November 4, 2024, as reported in Expensify's latest Quarterly Report on Form 10-Q.
Sentiment
Score: 5
Explanation: The document is a standard beneficial ownership disclosure (Schedule 13G Amendment), providing factual information without expressing positive or negative sentiment regarding company performance or outlook. It's a neutral update on insider holdings.
Positives
- A significant beneficial ownership stake of 6.1% in Expensify, Inc. Class A Common Stock is held by David Barrett, a key individual associated with the company, which may signal continued alignment of interests with shareholders.
Future Outlook
NA
Industry Context
NA
Stakeholder Impact
- Shareholders: Provides transparency regarding significant insider ownership, which can influence investor confidence and perception of management alignment.
Key Dates
| Date | Description |
|---|---|
| 2022-02-09 | Date of Joint Filing Agreement between Reporting Persons. |
| 2024-09-30 | End of quarterly period for which outstanding shares were reported in the Issuer's Form 10-Q, used for option exercise calculation. |
| 2024-11-04 | Date as of which 77,155,951 shares of Class A Common Stock were reported outstanding in the Issuer's Form 10-Q. |
| 2024-12-31 | Date of event which requires filing of this statement (beneficial ownership snapshot date). |
| 2025-02-13 | Date of filing of this Schedule 13G Amendment No. 4. |
Keywords
Expensify Inc., Class A Common Stock, David Barrett, Barrett Trust LLC, Beneficial Ownership, Schedule 13G, SEC Filing, Insider Ownership, Stock Holdings, 30219Q106
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