David Michael Barrett, the Chief Executive Officer of Expensify, Inc. (NASDAQ: EXFY), has executed a series of share dispositions totaling $10,541 during March 2026, according to recent filings with the Securities and Exchange Commission. The transactions involved the sale of Class A Common Stock at prices ranging from $0.76 to $0.84 per share. This executive activity occurs as the company navigates a period of financial adjustment, marked by a recent earnings report that missed consensus estimates.
On March 17, 2026, Mr. Barrett sold 2,692 shares of Class A Common Stock. These shares were divested at a weighted average price of $0.76, with individual transaction prices ranging between $0.74 and $0.78. The filing indicates that this transaction represented Mr. Barrett’s pro rata portion of shares sold to cover taxes for matched shares granted under the company’s 2021 Stock Purchase and Matching Plan for certain employees. The stock has since rallied to $1.28, reflecting an InvestingPro Tip noting a significant return over the last week of 11.3%.
Subsequently, on March 24, an additional 10,114 shares of Class A Common Stock were sold. These shares were sold at a weighted average price of $0.84, with individual transactions ranging from $0.82 to $0.86. This sale covered taxes upon the vesting of restricted stock units (RSUs) for certain employees of Expensify.
Prior to these sales, Mr. Barrett acquired shares through other mechanisms. On March 13, he received 6,920 shares of Class A Common Stock as matched shares under the Expensify, Inc. 2021 Stock Purchase and Matching Plan, at no cost. Additionally, on March 15, Mr. Barrett acquired 14,463 shares of Class A Common Stock through the settlement of vested restricted stock units, also at no direct cost, as each RSU represents the contingent right to receive one share of Class A common stock.
Following these transactions, Mr. Barrett directly holds 221,144 shares of Expensify’s Class A Common Stock. He also indirectly holds 1,228,480 shares of Class A Common Stock through Barrett Trust LLC, where he serves as manager, and the Barrett Family Trust, for which he is trustee. Furthermore, Mr. Barrett indirectly holds 3,583,249 shares of LT50 Common Stock through the Expensify Voting Trust, over which he retains investment control and dispositive power. The LT50 Common Stock is convertible into Class A Common Stock on a one-to-one basis upon certain conditions.
According to InvestingPro analysis, Expensify appears undervalued at current levels, with the company maintaining a strong balance sheet. For deeper insights into EXFY’s valuation and 14+ additional ProTips, investors can access the comprehensive Pro Research Report available exclusively on InvestingPro.
In other recent news, Expensify Inc. reported its first-quarter 2026 earnings, which fell short of analyst expectations. The company announced an earnings per share (EPS) of -$0.02, missing the anticipated $0.04. Additionally, revenues were reported at $34 million, below the forecasted $35.53 million. Expensify has also launched Expensify MCP, an AI integration that connects its expense management platform to various AI assistants, enabling users to query their expense data in real time. Furthermore, Expensify announced a partnership with VAT IT, aimed at providing global tax reclaim services. This collaboration will allow customers to streamline VAT recovery processes, particularly benefiting those operating in Europe and Canada. These developments highlight Expensify’s ongoing efforts to enhance its platform and expand its service offerings.