Nicholas Daniel - Feb 28, 2023 Form 4 Insider Report for ETSY INC (ETSY)

Role
Chief Product Officer
Signature
/s/ Brittany Keen, as Attorney-in-Fact for Nicholas Daniel
Stock symbol
ETSY
Transactions as of
Feb 28, 2023
Transactions value $
$0
Form type
4
Date filed
3/2/2023, 03:33 PM
Previous filing
Feb 17, 2023
Next filing
Mar 17, 2023

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction ETSY Performance Stock Unit Award $0 +1.76K $0.00 1.76K Feb 28, 2023 Common Stock 1.76K Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The Reporting Person has irrevocably elected to satisfy all withholding tax due upon the delivery of shares by authorizing Etsy, Inc. to withhold a sufficient amount of shares to satisfy such tax obligation.
F2 Units correspond 1-for-1 with common stock.
F3 Represents the number of shares earned under a performance-based restricted stock unit award (the "PSU") based on the Issuer's satisfaction of certain performance criteria of the award. In light of the performance-based vesting conditions of the award, such shares were not reportable under Section 16 until performance conditions were certified by the Compensation Committee as achieved (which occurred on February 28, 2023). The earned shares will vest as to 1/3 of the earned shares on each of April 1, 2023, 2024 and 2025 and have no expiration date. In addition, the PSUs being reported herein represent one-third of the total number of shares subject to the performance award. The remaining shares subject to the performance award will vest only upon the satisfaction of additional performance vesting criteria. Each PSU represents the contingent right to receive one share of common stock of the Issuer.