Josh Silverman - May 24, 2023 Form 4 Insider Report for ETSY INC (ETSY)

Signature
/s/ Brittany Keen, as Attorney-in-Fact for Josh Silverman
Stock symbol
ETSY
Transactions as of
May 24, 2023
Transactions value $
-$799,710
Form type
4
Date filed
5/26/2023, 04:27 PM
Previous filing
May 12, 2023
Next filing
Jun 9, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ETSY Common Stock Options Exercise $111K +10.4K +71.04% $10.62 25.1K May 24, 2023 Direct F1, F2
transaction ETSY Common Stock Sale -$171K -1.97K -7.84% $86.81 23.1K May 24, 2023 Direct F1, F3
transaction ETSY Common Stock Sale -$718K -8.21K -35.51% $87.43 14.9K May 24, 2023 Direct F1, F4
transaction ETSY Common Stock Sale -$21.5K -244 -1.64% $88.19 14.7K May 24, 2023 Direct F1, F5
holding ETSY Common Stock 4.94K May 24, 2023 By GST Trust F6
holding ETSY Common Stock 16.9K May 24, 2023 By Non-GST Trust F7
holding ETSY Common Stock 42.3K May 24, 2023 By Irrevocable Trust
holding ETSY Common Stock 100K May 24, 2023 By GRAT F8

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 Employee Stock Option (Right to Buy) Options Exercise $0 -10.4K -0.54% $0.00 1.91M May 24, 2023 Common Stock 10.4K $10.62 Direct F1, F9
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 This exercise and subsequent sales were made pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on March 7, 2022, as amended on November 14, 2022.
F2 Reflects the transfer of 100,000 shares to a grantor retained annuity trust as more fully described in footnote (8) herein.
F3 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $86.095 to $87.07, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F4 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $87.12 to $88.09, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F5 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $88.18 to $88.25, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F6 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.
F7 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.
F8 These shares, which were previously held by the Reporting Person directly, were transferred to a grantor retained annuity trust (the "GRAT") on May 12, 2023. The Reporting Person is the trustee and the beneficiary of the GRAT.
F9 These stock options are part of a grant that vested as to 25% on May 4, 2018 with the remainder vesting in 36 equal monthly installments subject to continued service on each vesting date.