Companies Expensify, Inc.
Expensify (EXFY): executive pay, fiscal 2025
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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
Frequently asked questions
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
- BlackSky Technology Inc.BKSYFY2025
- Couchbase, Inc.BASEFY2025
- D-Wave Quantum, Inc.QBTSFY2025
- Dave Inc./DEDAVEFY2025
- Forge Global Holdings, Inc.FRGEFY2024
- Olo Inc.OLOFY2024
- OOMA INCOOMAFY2026
- SEMrush Holdings, Inc.SEMRFY2024
- SOUNDTHINKING, INC.SSTIFY2025
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 ↗