Josh Silverman - 01 Apr 2023 Form 4 Insider Report for ETSY INC (ETSY)

Role
President & CEO, Director
Signature
/s/ Brittany Keen, as Attorney-in-Fact for Josh Silverman
Issuer symbol
ETSY
Transactions as of
01 Apr 2023
Net transactions value
-$1,015,330
Form type
4
Filing time
04 Apr 2023, 17:26:59 UTC
Previous filing
30 Mar 2023
Next filing
14 Apr 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ETSY Common Stock Options Exercise $0 +16,489 +15% $0.000000 123,794 01 Apr 2023 Direct F1
transaction ETSY Common Stock Tax liability $1,015,330 -9,120 -7.4% $111.33 114,674 01 Apr 2023 Direct F2
holding ETSY Common Stock 4,942 01 Apr 2023 By GST Trust F3
holding ETSY Common Stock 16,886 01 Apr 2023 By Non-GST Trust F4
holding ETSY Common Stock 42,269 01 Apr 2023 By Irrevocable Trust

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 Restricted Stock Units Options Exercise $0 -3,101 -20% $0.000000 12,402 01 Apr 2023 Common Stock 3,101 Direct F5, F6
transaction ETSY Restricted Stock Units Options Exercise $0 -7,190 -14% $0.000000 43,137 01 Apr 2023 Common Stock 7,190 Direct F5, F7
transaction ETSY Performance Stock Units Options Exercise $0 -6,198 -33% $0.000000 12,394 01 Apr 2023 Common Stock 6,198 Direct F8, F9, F10
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Shares of common stock acquired upon the vesting of the restricted stock units and performance-based restricted stock units.
F2 This transaction reported represents the withholding of shares by the Issuer to satisfy the Reporting Person's tax withholding obligations in connection with the vesting and settlement of the restricted stock units and performance-based restricted stock units.
F3 These shares are held by the JGS 2018 Irrevocable GST Trust (the "GST Trust"). The Reporting Person's spouse is the trustee of the GST Trust. The Reporting Person disclaims beneficial ownership of these securities, and the filing of this report is not an admission that the Reporting Person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.
F4 These shares are held by the JGS 2018 Irrevocable Non-GST Trust (the "Non-GST Trust"). The Reporting Person's spouse is the trustee of the Non-GST Trust. The Reporting Person disclaims beneficial ownership of these securities, and the filing of this report is not an admission that the Reporting Person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.
F5 Represents restricted stock units which correspond 1-for-1 with common stock.
F6 The restricted stock units vest in 8 equal semi-annual installments, beginning on October 1, 2021, provided the Reporting Person remains continuously employed on each vesting date and has no expiration date.
F7 The restricted stock units vest in 8 equal semi-annual installments, beginning on October 1, 2022, provided the Reporting Person remains continuously employed on each vesting date and has no expiration date.
F8 Represents performance-based restricted stock units which correspond 1-for-1 with common stock.
F9 The earned performance-based restricted stock units vest in equal installments on each of April 1, 2023, 2024 and 2025, provided the Reporting Person remains continuously employed on each vesting date and has no expiration date.
F10 On March 2, 2023, the Reporting Person filed a Form 4 which inadvertently reported 7,290 restricted stock units earned under a performance-based restricted stock unit award based on the Issuer's satisfaction of certain performance criteria, instead of 18,592 restricted stock units. Any remaining restricted stock units subject to the performance award will be earned only upon the satisfaction of additional performance vesting criteria. The securities beneficially owned following the reported transaction has been adjusted to reflect the correct number of performance-based restricted stock units acquired.