Cole Eason
About Cole Eason
Cole Eason is Expensify’s Chief Compliance Officer and Corporate Secretary, responsible for corporate compliance and governance administration . He holds a BS in Business Administration with an emphasis in Finance from the University of Missouri-Columbia . Eason was born in January 1994 and has served in Expensify’s compliance leadership since 2016 . Company performance context during his tenure: Expensify’s TSR value of an initial $100 investment was $107.16 (2021), $21.51 (2022), $6.02 (2023), and $7.60 (2024), while reported net income was $(13,558)k, $(27,009)k, $(41,455)k, and $(10,055)k, respectively .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| University of Missouri | Technical Support Analyst (Student) – Entry | Aug 2013–Mar 2014 | Built foundational IT support capabilities and campus systems familiarity |
| University of Missouri | Technical Support Analyst (Student) – Specialist | Mar 2014–Sep 2014 | Advanced troubleshooting; process improvements in tech support workflows |
| University of Missouri | Technical Support Analyst (Student) – Expert | Sep 2014–May 2016 | Senior support leadership; developed technical practices useful for compliance operations |
| University of Missouri Health Care | Children’s Miracle Network Intern | Sep 2015–Dec 2015 | Program support and stakeholder engagement in healthcare setting |
| iD Tech Camps | Instructor | Jun 2012–Aug 2013 | Early leadership and teaching experience |
| iD Tech Camps | Lead Instructor | Jun 2014–Aug 2014 | Led instructional teams; curriculum delivery |
| iD Tech Camps | Camp Director | Jun 2015–Aug 2015 | Managed staff, operations, and student outcomes |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| Expensify Limited (UK, Company No. 09744432) | Director / Chief Compliance Officer | Officer details updated Aug 20, 2024 | UK subsidiary governance role; company incorporated Aug 21, 2015 |
Fixed Compensation
- Expensify discloses detailed compensation only for named executive officers (CEO, CFO, COO). Eason is not a named executive officer, and no individual compensation figures for him are disclosed in DEF 14A filings .
- Company-wide compensation is set via a peer-ranked compensation algorithm reviewed by the Compensation Committee and applied to all employees, including officers .
- Expensify does not maintain a performance-based annual bonus program; bonuses may be discretionary, as determined by the Board/Compensation Committee .
Performance Compensation
- Equity participation: All employees and service providers are eligible to participate in Expensify’s 2021 Stock Purchase and Matching Plan (SPMP), with matching shares issued as fully vested on purchase dates .
- No PSUs or formal performance-weighted cash bonus program are disclosed for Eason; the company explicitly states it does not maintain a performance-based bonus program .
- Representative vesting framework disclosed in filings (applies to 2021 RSU grants): each RSU delivers one-half Class A share and one-half LT50 share; 12.5% vests quarterly over 8 years (subject to service) .
SPMP Matching Rate (%)
| Metric | FY 2023 | FY 2024 |
|---|---|---|
| SPMP Matching Rate (%) | 5 | 5 |
Company Performance (TSR value of initial $100; Net Income $000)
| Metric | FY 2021 | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|---|
| TSR ($) | 107.16 | 21.51 | 6.02 | 7.60 |
| Net Income ($000) | (13,558) | (27,009) | (41,455) | (10,055) |
Equity Ownership & Alignment
- Beneficial ownership tables list directors and named executive officers; Eason is not listed, and no personal share counts, vested/unvested breakdowns, or option holdings are disclosed for him .
- Anti-hedging: Officers, directors, and employees are prohibited from short sales, publicly-traded options, hedging transactions, and margin purchases under the Insider Trading Policy .
- Limited pledging policy: Employees (including NEOs) may pledge up to 25% of Expensify stock holdings as collateral for a loan, subject to pre-approved guidelines; margin loans are excluded .
- Stock ownership guidelines: None disclosed for officers/directors in the proxies .
Insider trading signals
- We did not find filings disclosing Eason’s personal Form 4 transactions; however, he frequently signs Form 144 notices as attorney-in-fact or Secretary for other insiders (e.g., Ryan Schaffer, Jason Mills, Anu Muralidharan), indicating his central role in compliance and filing administration .
Employment Terms
- At-will employment agreements and severance: The proxies disclose no severance entitlements for NEOs (CEO/CFO/COO) upon involuntary termination; Eason-specific employment contract terms are not disclosed .
- Change-in-control treatment (equity plans): Under the 2021 Incentive Award Plan, if outstanding awards are not assumed or substituted in a change-in-control, awards fully vest immediately prior to the event (plan-level policy) .
- Clawback policy: Effective Nov 1, 2023, the company adopted a Rule 10D-1-compliant clawback requiring recovery of erroneously awarded incentive-based compensation for current/former NEOs for three prior fiscal years after an accounting restatement (plan-level) .
- Indemnification: Expensify has indemnification and advancement rights for current/former officers and directors via charter/bylaws; individual agreements are in place with officers/directors .
Investment Implications
- Alignment: Anti-hedging and limited pledging frameworks reduce misalignment risk; however, any pledging within policy limits can still introduce collateral-related liquidity risk in stressed markets .
- Retention risk: No disclosed guaranteed severance for officers and plan-level CIC vesting only if awards are not assumed/substituted could temper windfall incentives; individual terms for Eason are not disclosed, limiting visibility .
- Trading signals: Absence of disclosed personal Form 4 activity for Eason and his role primarily as filing agent/attorney-in-fact for others means personal selling pressure is not observable from public filings cited here; monitoring future Section 16/Rule 144 filings remains prudent .
- Governance risk: Expensify is a “controlled company” and relies on Nasdaq exemptions; its Compensation Committee includes executives, which is atypical and can elevate governance/perceived pay-setting risk .
Note: All quantitative compensation details in proxies pertain to named executive officers (CEO/CFO/COO). Cole Eason is not a named executive officer in the filings reviewed and therefore individual compensation, grants, ownership, or severance specifics for him are not disclosed .