Companies Expensify, Inc.

Expensify (EXFY): executive pay, fiscal 2025

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CEO total pay$1,903,704CEO David Barrett · source

Say-on-pay support97.86%Latest vote · source

CEO pay, last three years

$1,837,114FY2023
$2,080,755FY2024
$1,903,704FY2025

CEO total pay was $1,903,704 in fiscal 2025, down from $2,080,755 in fiscal 2024.

FY2025: salary $1,845,851 · bonus $0 · stock awards $57,853 · option awards $0

Executives and directors

David Barrett · CEO Anuradha Muralidharan · Chief Operating Officer Ryan Schaffer · CFO Carlos Alvarez Divo · Independent Director Daniel Vidal · Director Ellen Pao · Independent Director Jason Mills · Director Timothy L. Christen · Independent Director Ying (Vivian) Liu · Independent Director

Frequently asked questions

Who was the highest-paid executive at Expensify, Inc. in fiscal 2025?

As disclosed, David Barrett (Chief Executive Officer) was the highest-paid executive at Expensify, Inc. in fiscal 2025, with total compensation of $1,903,704.

How did shareholders vote on Expensify, Inc.'s executive compensation?

As disclosed, 97.86% of shareholders supported Expensify, Inc.'s executive compensation in the latest say-on-pay vote.

How much does Expensify, Inc. spend in total on board compensation for fiscal 2025?

As disclosed, Expensify, Inc. reported total board compensation of $473,091 for fiscal 2025.

Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.

Full detail

Every table from the filing. Open any section.

Summary compensation table

Named executive officer	Salary	Bonus	Stock awards	Option awards	Non-equity incentive	Pension / NQDC	All other	Total
David Barrett	$1,845,851	$0	$57,853	$0	$0	$0	$0	$1,903,704
Chief Executive Officer
Anuradha Muralidharan	1,109,820	0	71,309	0	0	0	558,219	1,739,348
Former Chief Operating Officer
Ryan Schaffer	1,148,135	0	83,704	0	0	0	7,535	1,239,374
Chief Financial Officer

A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.

Three-year trend — total compensation per named executive

Named executive officer	FY2025 total	FY2024 total	FY2023 total	Δ FY2024→2025
David Barrett	$1,903,704	$2,080,755	$1,837,114	↓ −177,051
Anuradha Muralidharan	1,739,348	—	—	—
Ryan Schaffer	1,239,374	1,236,856	1,133,425	↑ +2,518

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

Incentive-plan design — the Compensation Discussion & Analysis

We use a compensation algorithm that produces a target compensation number for each employee, including each NEO, which the Compensation Committee reviews and approves.

CEO STI target (% of salary)	—
CEO LTI target (% of salary)	—
Independent consultant	—
Clawback policy	True
Anti-hedging	true
Anti-pledging	false

Equity grants and outstanding awards

Grants of plan-based awards — fiscal year 2025

Executive	Award	Grant date	Threshold	Target	Granted	Maximum	Grant-date fair value
Anuradha Muralidharan	RSU	—	—	—	—	—	$71,309
David Barrett	RSU	—	—	—	—	—	57,853
Ryan Schaffer	RSU	—	—	—	—	—	83,704

Vehicle mix — grant-date fair value by award type

Named executive officer	Time-vested (RSU)	Performance-vested (PSU)	Options / SARs	% performance-vested
Anuradha Muralidharan	$71,309	$0	$0	0.0%
David Barrett	57,853	0	0	0.0%
Ryan Schaffer	83,704	0	0	0.0%

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

Outstanding equity awards at fiscal year-end 2025

Executive	Award	Shares unvested	Exercise price	Market value unvested
Ryan Schaffer	RSU	117,674	—	$177,688
David Barrett	RSU	433,894	—	655,180

Director compensation

Director	Cash fees	Stock awards	Option awards	Non-equity incentive	All other	Total
Timothy L. ChristenIndependent · Audit (Chair)	$50,000	$114,243	$0	$0	$0	$164,243
Ying (Vivian) LiuIndependent · Audit	40,000	114,605	0	0	0	154,605
Ellen PaoIndependent · Audit	40,000	114,243	0	0	0	154,243
Carlos Alvarez DivoIndependent · Executive · Compensation · Partial-year service · Newly elected	0	0	0	0	0	0
David BarrettEmployee director · Executive · Compensation (Chair)	0	0	0	—	0	0
Ryan SchafferEmployee director · Executive · Compensation	0	0	0	—	0	0
Anuradha MuralidharanEmployee director · Departed during FY	0	0	0	—	0	0
Daniel VidalEmployee director · Executive · Compensation	0	0	0	—	0	0
Jason MillsEmployee director · Executive · Compensation	0	0	0	—	0	0

Board fee structure and ownership guideline

Annual cash retainer	$30,000
Annual equity retainer	$125,000
Per board meeting fee	—
Committee chair fees (audit / comp / nom-gov)	20,000
Stock ownership guideline	—

Total cost of the board

Component	FY2025
Cash retainers and fees	$130,000
Equity awards (grant-date value)	$343,091
All other compensation	$0
Total cost of the board	$473,091

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

Peer group, and who names Expensify as a peer

Companies that benchmark against EXFY

9 companies name EXFY as a compensation peer

Each company listed discloses EXFY in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named EXFY in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

Chief executive pay against the peer group

Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company’s own proxy statement.

Rank	Company	FY	Chief executive	Salary	Stock awards	Option awards	Non-equity incentive	Total
1	Expensify, Inc.	2025	David Barrett	$1,845,851	$57,853	$0	$0	$1,903,704

Each peer’s compensation is from its most recently filed proxy; fiscal years differ by company. Each peer’s figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.

Say-on-pay history and pay ratio

Meeting year	Meeting date	For	Against	Abstain	Support	Outcome
2026	2026-05-22	463,816,243	10,148,633	6,108,047	97.86%	Passed
2025	2025-06-13	454,429,843	3,546,036	95,624	99.23%	Passed
2024	2024-06-14	472,392,741	6,901,783	33,970	98.56%	Passed

Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year’s compensation.

Say-on-pay — history, company’s computation

Meeting year	Meeting date	Approval — company’s computation
2026	2026-05-22	97.86%^a
2025	2025-06-13	99.23%^b
2024	2024-06-14	98.56%^c

a. Approved under the standard stated in the filing — “As such, an abstention, failure to vote or a broker non-vote, if any, will have the same effect as a vote "AGAINST" the Reverse Stock Split Proposal.”.

b. Approved under the standard stated in the filing — “Votes withheld have no effect on the election of directors and abstentions are not counted as votes cast and as such will have no effect on the ratification of the appointment of KPMG or the advisory vote to approve the compensation of our named executive officer”.

c. Approved under the standard stated in the filing — “Votes withheld have no effect on the election of directors and abstentions are not counted as votes cast and as such will have no effect on the ratification of the appointment of EY or the advisory vote to approve the compensation of our named executive offic”.

Approval percentages are the company’s own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.

CEO pay ratio

Ratio (CEO : median employee)	—
CEO total compensation	—
Median employee compensation	—

Insider trades since the proxy

Every insider equity transaction reported on Form 4 after the 2025 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.

Insider	Role	Transaction date	Code	Shares	Price	Value	Security	Source
Alvarez Divo Carlos Eduardo	Director	2026-04-28	D	30,728	$1	$31,035	Common	Form 4 ↗
David Barrett	Director	2026-05-01	D	30,000	1	32,400	Common	Form 4 ↗
Alvarez Divo Carlos Eduardo	Director	2026-05-15	D	10,000	1	11,300	Common	Form 4 ↗
Ellen Pao	Director	2026-05-22	A	123,762	0	0	Common	Form 4 ↗
Ying (Vivian) Liu	Director	2026-05-22	A	123,762	0	0	Common	Form 4 ↗
Timothy L. Christen	Director	2026-05-22	A	123,762	0	0	Common	Form 4 ↗
David Barrett	Director	2026-06-01	D	30,000	1	34,500	Common	Form 4 ↗
Alvarez Divo Carlos Eduardo	Director	2026-06-15	D	10,700	1	13,696	Common	Form 4 ↗
David Barrett	Director	2026-06-23	A	2,094,974	0	0	Derivative, Class A Common	Form 4 ↗
Jason Mills	Director	2026-06-23	A	1,160,447	0	0	Derivative, Class A Common	Form 4 ↗
David Barrett	Director	2026-06-23	A	2,031,280	0	0	Derivative, Class A Common	Form 4 ↗
David Barrett	Director	2026-06-23	A	63,694	0	0	Derivative, Class A Common	Form 4 ↗
Daniel Vidal	Director	2026-06-23	A	1,160,447	0	0	Derivative, Class A Common	Form 4 ↗
Ryan Schaffer	Director	2026-06-23	A	1,164,596	0	0	Derivative, Class A Common	Form 4 ↗
Ying (Vivian) Liu	Director	2026-07-05	A	3,731	0	0	Common	Form 4 ↗

Transaction codes per Form 4: A acquisition · S open-market sale · F tax withholding · M option exercise · G gift. Value = shares × price as reported. Dividend-equivalent and fractional-share accrual rows (derivative Class A, under $10,000 and under 2,000 shares) are aggregated per date; every row appears in full below.

Sources (38 citations)

Each figure is listed with the filing it comes from, where it appears in that filing, and the value as printed. Any figure can be independently confirmed against the source.

Section 01, David Barrett. DEF 14A, filed 2026-04-10. Section “SUMMARY COMPENSATION TABLE”. As printed: 1,903,704. View filing ↗
Section 01, Anuradha Muralidharan. DEF 14A, filed 2026-04-10. Section “SUMMARY COMPENSATION TABLE”. As printed: 1,739,348. View filing ↗
Section 01, Ryan Schaffer. DEF 14A, filed 2026-04-10. Section “SUMMARY COMPENSATION TABLE”. As printed: 1,239,374. View filing ↗
Section 03, Anuradha Muralidharan RSU. DEF 14A, filed 2026-04-10. Section “SUMMARY COMPENSATION TABLE” · grants of plan-based awards table. View filing ↗
Section 03, David Barrett RSU. DEF 14A. Section “SUMMARY COMPENSATION TABLE” · grants of plan-based awards table. View filing ↗
Section 03, Ryan Schaffer RSU. DEF 14A, filed 2026-04-10. Section “SUMMARY COMPENSATION TABLE” · grants of plan-based awards table. View filing ↗
Section 07, pay ratio. 10-K, filed 2026-02-26. Section “CEO Pay Ratio”. As printed: —. View filing ↗
Section 08, Timothy L. Christen. DEF 14A, filed 2026-04-10. Section “Director Compensation”. As printed: 164,243. View filing ↗
Section 08, Ying (Vivian) Liu. DEF 14A, filed 2026-04-10. Section “Director Compensation”. As printed: 154,605. View filing ↗
Section 08, Ellen Pao. DEF 14A, filed 2026-04-10. Section “Director Compensation”. As printed: 154,243. View filing ↗
Section 08, Carlos Alvarez Divo. DEF 14A, filed 2026-04-10. Section “Director Compensation”. As printed: 0. View filing ↗
Section 08, David Barrett. DEF 14A, filed 2026-04-10. Section “Director Compensation”. As printed: 0. View filing ↗
Section 08, Ryan Schaffer. DEF 14A, filed 2026-04-10. Section “Director Compensation”. As printed: 0. View filing ↗
Section 08, Anuradha Muralidharan. DEF 14A, filed 2026-04-10. Section “Director Compensation”. As printed: 0. View filing ↗
Section 08, Daniel Vidal. DEF 14A, filed 2026-04-10. Section “Director Compensation”. As printed: 0. View filing ↗
Section 08, Jason Mills. DEF 14A, filed 2026-04-10. Section “Director Compensation”. As printed: 0. View filing ↗
Section 02, Alvarez Divo Carlos Eduardo 2026-04-28. Form 4, filed 2026-04-30. Insider equity transaction reported since the proxy statement. View filing ↗
Section 02, David Barrett 2026-05-01. Form 4, filed 2026-05-11. Insider equity transaction reported since the proxy statement. View filing ↗
Section 02, Alvarez Divo Carlos Eduardo 2026-05-15. Form 4, filed 2026-05-28. Insider equity transaction reported since the proxy statement. View filing ↗
Section 02, Ellen Pao 2026-05-22. Form 4, filed 2026-07-07. Insider equity transaction reported since the proxy statement. View filing ↗
Section 02, Ying (Vivian) Liu 2026-05-22. Form 4, filed 2026-07-07. Insider equity transaction reported since the proxy statement. View filing ↗
Section 02, Timothy L. Christen 2026-05-22. Form 4, filed 2026-07-07. Insider equity transaction reported since the proxy statement. View filing ↗
Section 02, David Barrett 2026-06-01. Form 4, filed 2026-06-02. Insider equity transaction reported since the proxy statement. View filing ↗
Section 02, Alvarez Divo Carlos Eduardo 2026-06-15. Form 4, filed 2026-06-16. Insider equity transaction reported since the proxy statement. View filing ↗
Section 02, David Barrett 2026-06-23. Form 4, filed 2026-06-25. Insider equity transaction reported since the proxy statement. View filing ↗
Section 02, Jason Mills 2026-06-23. Form 4, filed 2026-06-25. Insider equity transaction reported since the proxy statement. View filing ↗
Section 02, David Barrett 2026-06-23. Form 4, filed 2026-06-26. Insider equity transaction reported since the proxy statement. View filing ↗
Section 02, David Barrett 2026-06-23. Form 4, filed 2026-06-26. Insider equity transaction reported since the proxy statement. View filing ↗
Section 02, Daniel Vidal 2026-06-23. Form 4, filed 2026-06-25. Insider equity transaction reported since the proxy statement. View filing ↗
Section 02, Ryan Schaffer 2026-06-23. Form 4, filed 2026-06-25. Insider equity transaction reported since the proxy statement. View filing ↗
Section 02, Ying (Vivian) Liu 2026-07-05. Form 4, filed 2026-07-07. Insider equity transaction reported since the proxy statement. View filing ↗
Section 06, 2026 vote. Form 8-K, filed 2026-05-27. Item 5.07 · say-on-pay result. As reported: 97.86% (votes for as printed: 463,816,243). View filing ↗
Section 06, 2025 vote. Form 8-K, filed 2025-06-16. Item 5.07 · say-on-pay result. As reported: 99.23% (votes for as printed: 454,429,843). View filing ↗
Section 06, 2024 vote. Form 8-K, filed 2024-06-20. Item 5.07 · say-on-pay result. As reported: 98.56% (votes for as printed: 472,392,741). View filing ↗
Section 01 trend, Δ column (computed). Computed. Δ = current-FY total − prior-FY total per named officer.
Section 03b vehicle mix (computed). Computed. RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).
Section 09b board cost (computed). Computed. Cash 130,000 + equity 343,091 + all other 0 = 473,091, summed across the director compensation table rows.
Expensify, Inc. (subject), Section 10b CEO total. DEF 14A, filed 2026-04-10. CEO total compensation as printed in Expensify, Inc.'s own proxy. As printed: 1,903,704. View filing ↗