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SEC FORM 3 SEC Form 3
FORM 3 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940 		 
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1. Name and Address of Reporting Person*
Schaffer Ryan
(Last) (First) (Middle)
C/O EXPENSIFY, INC.
401 SW 5TH AVE
(Street)
PORTLAND OR 97204
(City) (State) (Zip)
2. Date of Event Requiring Statement (Month/Day/Year)
11/09/2021 		3. Issuer Name and Ticker or Trading Symbol
Expensify, Inc. [ [EXFY] ]
4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
X Officer (give title below) Other (specify below)
Chief Financial Officer
5. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4) 2. Amount of Securities Beneficially Owned (Instr. 4) 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 4. Nature of Indirect Beneficial Ownership (Instr. 5)
Class A Common Stock 180,030 D
Table II - Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4) 2. Date Exercisable and Expiration Date (Month/Day/Year) 3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 6. Nature of Indirect Beneficial Ownership (Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
LT10 Common Stock (1) (1) Class A Common Stock 498,090 (1) I See note(2)
Stock Option (3) 03/31/2026 Class A Common Stock 1,610 0.53 D
Stock Option (4) 01/10/2029 Class A Common Stock 10,320 0.97 D
Stock Option (5) 04/12/2029 Class A Common Stock 4,930 0.97 D
Stock Option (6) 04/12/2029 Class A Common Stock 15,910 0.97 D
Stock Option (7) 04/11/2029 Class A Common Stock 369,880 0.97 D
Stock Option (8) 06/21/2030 Class A Common Stock 4,540 1.6 D
Stock Option (9) 06/21/2030 Class A Common Stock 3,820 1.6 D
Stock Option (10) 03/15/2031 Class A Common Stock 1,230 7.21 D
Stock Option (11) 03/15/2031 Class A Common Stock 16,520 7.21 D
Stock Option (12) 10/12/2031 Class A Common Stock 6,880 12.97 D
Restricted Stock Units (13) 12/15/2029 Class A Common Stock 125,520 (14) D
Restricted Stock Units (13) 12/15/2029 LT50 Common Stock 125,520 (15) D
Explanation of Responses:
1. The LT10 Common Stock is convertible into the Issuer's Class A Common Stock on a one-to-one basis only upon, and generally cannot be transferred without, satisfaction of certain notice and other requirements, including a notice period of 10 months. The LT10 Common Stock will automatically convert into shares of the Issuer's Class A Common Stock on a one-to-one basis at such time as all of the then-outstanding shares of LT10 and LT50 Common Stock represent, in the aggregate, less than 2% of all then-outstanding shares of common stock.
2. Deposited into the Expensify Voting Trust (the "Voting Trust"). The Reporting Person retains investment control and dispositive power over the shares deposited into the Voting Trust.
3. The stock option is fully vested and currently exercisable.
4. Reflects remaining portion of the stock option that originally vested in 48 equal monthly installments beginning on November 30, 2018.
5. Reflects remaining portion of the stock option that originally vested in 48 equal monthly installments beginning on March 1, 2019.
6. The stock option vests in 48 equal monthly installments beginning on April 1, 2019.
7. Reflects remaining portion of the stock option that originally vested in 72 equal monthly installments beginning on May 12, 2019.
8. The stock option vests in 48 equal monthly installments beginning on April 1, 2020.
9. The stock option vests in 48 equal monthly installments beginning on October 1, 2019.
10. The stock option vests in 48 equal monthly installments beginning on February 1, 2021.
11. The stock option vests in 48 equal monthly installments beginning on April 1, 2021.
12. The stock option vests in 48 equal monthly installments beginning on October 16, 2021.
13. The restricted stock units vest 12.5% on September 15, 2022 and 1/32nd each quarter thereafter, on December 15th, March 15th, June 15th, and September 15th
14. Each restricted stock unit represents the contingent right to receive one share of Class A common stock.
15. Each restricted stock unit represents the contingent right to receive one share of LT50 common stock.
Remarks:
Exhibit 24 - Power of Attorney
/s/ Ryan Schaffer 11/09/2021
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
LIMITED POWER OF ATTORNEY
For Filings under Section 16 of the Securities Exchange Act of 1934
(Expensify, Inc.)

The undersigned hereby constitutes and appoints David Michael Barrett, Chief Executive Officer of Expensify, Inc. (the "Company"), in his capacity as such, and his successors in such office, and each of them, the undersigned's true and lawful attorneys-in-fact and agents, with full power of substitution in the premises, for the undersigned and in the undersigned's name, place and stead, in any and all capacities, to:

(1)     execute for and on behalf of the undersigned, in the undersigned's capacity as an officer and/or director of the Company, Forms 3, 4 and 5 in accordance with Section 16(a) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and the rules thereunder;

(2)     do and perform any and all acts for and on behalf of the undersigned that may be necessary or desirable to complete and execute any such Form 3, 4 or 5 and timely file such form with the United States Securities and Exchange Commission and any stock exchange or similar authority; and

(3)     take any other action solely in connection with the foregoing which, in the opinion of such attorney-in-fact, may be of benefit to, in the best interest of, or legally required by or on behalf of, the undersigned, it being understood that the documents executed by such attorney-in-fact on behalf of the undersigned pursuant to this Limited Power of Attorney shall be in such form and shall contain such terms and conditions as such attorney-in-fact may approve in such attorney-in-fact's discretion.
The undersigned hereby grants to each such attorney-in-fact full power and authority to do and perform any and every act and thing whatsoever requisite, necessary, or proper to be done in the exercise of any of the rights and powers herein granted, as fully to all intents and purposes as the undersigned might or could do if personally present, with full power of substitution and revocation, hereby ratifying and confirming all that such attorney-in-fact, or such attorney-in-fact's substitute or substitutes, shall lawfully do or cause to be done by virtue of this Limited Power of Attorney and the rights and powers herein granted.  The undersigned acknowledges that each of the foregoing attorneys-in-fact, in serving in such capacity at the request of the undersigned, is not assuming, nor is the Company assuming, any of the undersigned's responsibilities to comply with Section 16 of the Exchange Act.
This Limited Power of Attorney shall remain in full force and effect until the undersigned is no longer required to file Forms 3, 4 and 5 with respect to the undersigned's holdings of, and transactions in, securities issued by the Company, unless earlier revoked by the undersigned in a signed writing delivered to the foregoing attorneys-in-fact.

 IN WITNESS WHEREOF, the undersigned has executed this Limited Power of Attorney this 8th day of November 2021.


/s/ Ryan Schaffer
Name: Ryan Schaffer