Expensify Executives and Employees Purchase Common Shares
11 April 2023 - 11:00PM
Business Wire
During the first quarter, Expensify
employees purchased 147,319 shares, with executives purchasing
38,928 shares.
Expensify, Inc. (Nasdaq: EXFY), a payments superapp that helps
individuals and businesses around the world simplify the way they
manage money across expenses, corporate cards and bills, announced
today that during the quarter ended March 31, 2023, the Company’s
employees purchased 147,319 shares of Class A common stock via its
Stock Purchase and Matching Plan (SPMP). Executives' purchases made
up 38,928 of those shares.
”I remain confident in our long-term prospects, which can be
seen by continuing to contribute 100% of my salary to our SPMP
program,” said David Barrett, Founder and CEO of Expensify.
At the time of the purchase, the aggregate value of the
purchased shares were $1.1 million based on a $7.46 market share
price.
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historical facts, are forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1955. These
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that, while considered reasonable by us and our management, are
inherently uncertain. Factors that may cause actual results to
differ materially from current expectations include, but are not
limited to: our expectations regarding our financial performance
and future operating performance; our ability to attract and retain
members, expand usage of our platform, sell subscriptions to our
platform and convert individuals and organizations into paying
customers; the timing and success of new features, integrations,
capabilities and enhancements by us, or by competitors to their
products, or any other changes in the competitive landscape of our
market; the amount and timing of operating expenses and capital
expenditures that we may incur to maintain and expand our business
and operations to remain competitive; the sufficiency of our cash,
cash equivalents and investments to meet our liquidity needs and
permit future share buybacks; our ability to make required payments
under and to comply with the various requirements of our current
and future indebtedness; our ability to effectively manage our
exposure to fluctuations in foreign currency exchange rates; the
economic, political and social impact of, and uncertainty relating
to, the COVID-19 pandemic; the war in Ukraine and escalating
geopolitical tensions as a result of Russia's invasion of Ukraine;
the increased expenses associated with being a public company; the
size of our addressable markets, market share and market trends;
anticipated trends, developments and challenges in our industry,
business and the highly competitive markets in which we operate;
our expectations regarding our income tax liabilities and the
adequacy of our reserves; our ability to effectively manage our
growth and expand our infrastructure and maintain our corporate
culture; our ability to identify, recruit and retain skilled
personnel, including key members of senior management; the safety,
affordability and convenience of our platform and our offerings;
our ability to successfully defend litigation brought against us;
our ability to successfully identify, manage and integrate any
existing and potential acquisitions of businesses, talent,
technologies or intellectual property; general economic conditions
in either domestic or international markets, including the societal
and economic impact of the COVID-19 pandemic, and geopolitical
uncertainty and instability; our protections against security
breaches, technical difficulties, or interruptions to our platform;
our ability to maintain, protect and enhance our intellectual
property; and other risks discussed in our filings with the SEC.
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About Expensify
Expensify is a payments superapp that helps individuals and
businesses around the world simplify the way they manage money.
More than 10 million people use Expensify's free features, which
include corporate cards, expense tracking, next-day reimbursement,
invoicing, bill pay, and travel booking in one app. All free.
Whether you own a small business, manage a team, or close the books
for your clients, Expensify makes it easy so you have more time to
focus on what really matters.
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Nick Tooker, investors@expensify.com
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