Etsy Announces New $750 Million Share Repurchase Authorization and appointment of Fred Wilson as Lead Independent Director

Rhea-AI Summary

Etsy (NYSE: ETSY) announced a new $750 million share repurchase authorization, which combined with an estimated remaining capacity of over $200 million under the existing program gives the company close to $1 billion of potential repurchase capacity. The Board also appointed current Chair Fred Wilson as Lead Independent Director effective January 1, 2026, concurrent with a leadership transition to Kruti Patel Goyal as CEO and Josh Silverman becoming Executive Chair.

The company said it had approximately $1.6 billion in cash and equivalents as of the most recent quarter-end and noted continued free cash flow as a rationale for the authorization.

Positive

• New share repurchase authorization of $750 million (~$1 billion total)
• Reported cash and investments of $1.6 billion at quarter-end
• Board named Fred Wilson Lead Independent Director effective Jan 1, 2026

Negative

• Repurchase timing and amounts are discretionary with no obligation to buy
• Estimated remaining $200 million from prior program is presented as an approximation

Key Figures

New repurchase authorization $750 million New share repurchase authorization approved by Board

Existing program capacity over $200 million Estimated remaining under October 2024 authorization as of Dec 31, 2025

Total potential buybacks close to $1 billion Combined capacity of new and existing repurchase authorizations

Cash and investments $1.6 billion Cash, cash equivalents, short- and long-term investments at most recent quarter-end

Lead Independent Director start January 1, 2026 Effective date of Fred Wilson’s Lead Independent Director role

Market Reality Check

$57.28 Last Close

Volume Volume 3,457,614 vs 20-day avg 3,330,416 (relative volume 1.04x) ahead of this announcement. normal

Technical Price $52.86 is below 200-day MA of $55.97, reflecting a pre-news downtrend bias.

Peers on Argus

Pre-news, ETSY was down 1.66% while peers were mixed: GLBE +1.77%, W +3.29%, VIPS -0.78%, CART -0.37%, CHWY -1.8%, suggesting stock-specific dynamics around this buyback news.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Nov 12	Investor conferences	Neutral	+0.3%	Management participation in several investor conferences and a webcasted fireside chat.
Oct 29	Earnings release	Positive	-12.8%	Q3 2025 revenue growth, strong EBITDA and cash, plus Q4 guidance details.
Oct 29	Leadership change	Neutral	-12.8%	Announcement of new CEO Kruti Patel Goyal and Silverman’s transition to Executive Chair.
Oct 15	Earnings timing	Neutral	-1.7%	Notification of Q3 2025 earnings release date and webcast logistics for investors.
Sep 29	Exchange transfer	Positive	+15.8%	Transfer of Etsy’s stock listing from Nasdaq to the NYSE with supportive commentary.

Pattern Detected

Recent history shows sharp negative reactions around earnings and leadership transition, but a strong gain on the NYSE transfer, indicating inconsistent market responses to corporate developments.

Recent Company History

Over the last few months, Etsy has reported Q3 2025 results with $678.0M revenue and $1.6B cash, announced a leadership transition effective January 1, 2026, and moved its listing to the NYSE with a strong positive price reaction of 15.83%. Conference participation and an earnings-date notice had minimal impact. Against this backdrop, today’s sizeable $750M buyback authorization and governance update extend an existing capital return program highlighted in the 10-Q and build on prior leadership-transition disclosures.

Market Pulse Summary

This announcement combines a sizeable new $750 million share repurchase authorization with a governance update naming Fred Wilson as Lead Independent Director effective January 1, 2026. When added to an estimated remaining capacity of over $200 million, Etsy cites close to $1 billion of potential repurchases, supported by $1.6 billion in cash and investments at the latest quarter-end. Investors may monitor execution of the buyback and the leadership transition’s impact on strategy and capital allocation.

Key Terms

share repurchase authorization financial

"its Board of Directors has approved a new $750 million share repurchase authorization."

A share repurchase authorization is a company's official approval to buy back its own shares from the market. This signals that the company believes its stock is a good investment and can help increase the value of remaining shares by reducing how many are available. For investors, it often suggests confidence from the company and can influence the stock’s price.

lead independent director financial

"the Board has appointed the current Chair of the Board, Fred Wilson, as Lead Independent Director"

A lead independent director is a board member who is not part of company management and is chosen to coordinate and represent the other independent directors, often running sessions without the CEO, helping set meeting agendas, and serving as a liaison between shareholders and the board. For investors, this role signals stronger, more balanced oversight—like a neutral referee who helps ensure decisions are fair, transparent and focused on protecting shareholder interests.

rule 10b5-1 regulatory

"including pursuant to trading plans established pursuant to Rule 10b5-1 under the Securities Exchange Act of 1934."

Rule 10b5-1 is a regulation that allows company insiders to buy or sell their shares at predetermined times, even if they have access to non-public information. It acts like setting a schedule in advance for transactions, helping prevent accusations of unfair trading. This rule provides a way for insiders to plan trades transparently, giving investors confidence that these transactions are not based on hidden information.

AI-generated analysis. Not financial advice.

BROOKLYN, N.Y., Dec. 18, 2025 /PRNewswire/ -- Etsy, Inc. (NYSE: ETSY), the global marketplace for unique and creative goods, today announced that its Board of Directors has approved a new $750 million share repurchase authorization. When combined with the estimated remaining capacity of over $200 million¹ under the Company's existing share repurchase Board authorization, Etsy will have authorization for close to $1 billion of potential future share repurchases.

In addition, the Board has appointed the current Chair of the Board, Fred Wilson, as Lead Independent Director effective January 1, 2026. The appointment follows the previously announced leadership transition in which Kruti Patel Goyal will become Chief Executive Officer and Josh Silverman will step down as Chief Executive Officer to become Executive Chair, effective the same date.

Commenting on the share repurchase authorization, Mr. Silverman said, "We see significant value in our shares, and we and our Board have confidence in the near-term growth priorities that have been put in place by our incoming Chief Executive Officer, Kruti Patel Goyal. Given we had approximately $1.6 billion² in cash at the most recent quarter-end, and generated strong free cash flow, this new authorization will allow us to continue our track record of share repurchases, while also making strategic and disciplined investments in support of both Etsy's and Depop's growth."

Silverman added, "Appointing a Lead Independent Director is an important governance best practice, and Fred is exceptionally well suited for this position. He oversaw our previous leadership transition at Etsy, and brings deep experience, strong independent judgment, and a long history of thoughtful stewardship. I'm grateful for his continued partnership as he steps into this important role."

"I'm honored to become Etsy's Lead Independent Director at this exciting time for the Company," said Wilson. "I look forward to working closely with Josh and Kruti, and the rest of Etsy's leadership team, to help guide the Company as it enters its next chapter."

Further information about the Share Repurchase Authorization

Under the authorization, the Company may repurchase shares of its common stock from time to time through open-market purchases, privately negotiated transactions, or other approaches consistent with applicable securities laws, including pursuant to trading plans established pursuant to Rule 10b5-1 under the Securities Exchange Act of 1934.

The timing and amount of any repurchases will be determined by management and depend on a number of factors, including, but not limited to, stock price, trading volume, and general market conditions, along with the Company's working capital requirements, general business conditions, and other factors. The authorization does not have an expiration date, may be modified, suspended, or terminated at any time at the Company's discretion, and does not obligate the company to acquire any amount of common stock.

¹Represents an estimate of the approximate dollar amount expected to be remaining on Etsy's October 2024 share repurchase program as of December 31, 2025.
² Includes cash and cash equivalents, short-term and long-term investment balance as of September 30, 2025.

About Fred Wilson

Fred Wilson is the Founder and Partner of Union Square Ventures and has served on Etsy's board since 2007. He provides significant experience in corporate governance, technology company strategy, and scaling businesses in growth. He is also a well-known thought leader on technology, venture capital, and management matters.

About Etsy
Etsy, Inc. operates two-sided online marketplaces that connect millions of passionate and creative buyers and sellers around the world. These marketplaces share a mission to "Keep Commerce Human," and we're committed to using the power of business and technology to strengthen communities and empower people. Our primary marketplace, Etsy.com, is the global destination for unique and creative goods. Buyers come to Etsy to be inspired and delighted by items that are crafted and curated by creative entrepreneurs. For sellers, we offer a range of tools and services that address key business needs.

Etsy, Inc. also owns fashion resale marketplace Depop. Our marketplaces operate independently, while benefiting from shared expertise in product, marketing, technology, and customer support.

Etsy was founded in 2005 and is headquartered in Brooklyn, New York.

Etsy has used, and intends to continue using, its Investor Relations website and the Etsy News Blog (etsy.com/news) to disclose material non-public information and to comply with its disclosure obligations under Regulation FD. Accordingly, you should monitor our investor relations website and the Etsy News Blog in addition to following our press releases, SEC filings, and public conference calls and webcasts.

Investor Relations Contact:
Deb Wasser, Vice President, Investor Relations
Sarah Marx, Senior Director, Investor Relations
ir@etsy.com

Media Relations Contact:
Lauren Bayse, Senior Director, Corporate Communications
press@etsy.com

Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements include all statements that are not historical facts, including statements relating to estimated remaining capacity under our existing share repurchase program, future cash flow, investments in the business or growth, potential share repurchases, and the timing of announced leadership transitions. In some cases, forward-looking statements can be identified by terms such as "expect," "intend," "may," "plan," "will," or similar expressions and derivative forms and/or the negatives of those words. Many factors could cause the actual results to differ materially from those expressed in these forward-looking statements. These and other risks and uncertainties are more fully described in Etsy's filings with the Securities and Exchange Commission, including in the section titled "Risk Factors" in Etsy's Quarterly Report on Form 10-Q for the quarter ended Sept 30, 2025, and subsequent reports that Etsy files with the Securities and Exchange Commission. In light of these risks, you should not place undue reliance on such forward-looking statements.

Forward-looking statements involve substantial risks and uncertainties that may cause actual results to differ materially from those that we expect. Forward-looking statements represent our beliefs and assumptions only as of the date of this press release. We disclaim any obligation to update forward-looking statements.

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SOURCE Etsy, Inc.

FAQ

What did Etsy (ETSY) announce on December 18, 2025 regarding share repurchases?

Etsy announced a new $750 million share repurchase authorization, giving close to $1 billion potential repurchase capacity when combined with remaining prior authorization.

How much cash did Etsy report as of the most recent quarter-end for the December 18, 2025 announcement?

The company reported approximately $1.6 billion in cash, cash equivalents, and investments as of the most recent quarter-end.

When does Fred Wilson become Lead Independent Director for Etsy (ETSY)?

Fred Wilson will become Lead Independent Director effective January 1, 2026.

How will Etsy execute its new $750 million share repurchase authorization?

Repurchases may occur via open-market purchases, privately negotiated transactions, or other methods consistent with securities laws, including Rule 10b5-1 plans.

Does the $750 million authorization obligate Etsy to repurchase shares?

No; the authorization has no expiration date but may be modified, suspended, or terminated and does not obligate the company to acquire any shares.

How does the new repurchase authorization relate to Etsy's leadership transition on January 1, 2026?

The authorization was announced alongside a leadership transition in which Kruti Patel Goyal becomes CEO and Josh Silverman becomes Executive Chair, with Fred Wilson appointed Lead Independent Director.