Who executed the ESTABLISHMENT LABS (ESTA) share sales reported in this Form 4?

The sales were executed by Sariel Group Ltd , which holds shares for the benefit of director Juan Jose Chacon Quiros. He has voting and dispositive power over these shares but disclaims beneficial ownership except for his pecuniary interest.

Sariel Group linked to ESTABLISHMENT LABS (NASDAQ: ESTA) sells 75K shares

Q: How many ESTABLISHMENT LABS (ESTA) shares does the insider hold after these transactions?

After the reported sales, the filing shows 1,032,604 Common Shares held indirectly through Sariel Group Ltd and an additional 45,193 Common Shares held directly by Juan Jose Chacon Quiros.

Filing Impact

(Very High)

Filing Sentiment

(Very Negative)

Form Type

Rhea-AI Filing Summary

ESTABLISHMENT LABS HOLDINGS INC. director Juan Jose Chacon Quiros reported open-market sales totaling 75,000 Common Shares, executed indirectly through Sariel Group Ltd, an entity in which he has a pecuniary interest and over whose shares he has voting and dispositive power.

The sales occurred on May 1 and May 4, 2026 at weighted average prices between about $70 and $71 per share, under a Rule 10b5-1 trading plan. Following these transactions, Sariel Group Ltd holds 1,032,604 Common Shares indirectly attributed to him, and he also holds 45,193 Common Shares directly.

Insights

Pre-planned sales reduce, but do not overhaul, the insider’s position.

Director Juan Jose Chacon Quiros reported that Sariel Group Ltd, an entity associated with him, sold a total of 75,000 Common Shares of ESTABLISHMENT LABS HOLDINGS INC. in open-market transactions. Reported weighted average prices were around $70–$71 per share.

The filing notes the sales were effected pursuant to a Rule 10b5-1 trading plan, indicating they were pre-arranged rather than opportunistic. After the transactions, indirect holdings remain at 1,032,604 Common Shares, with a further 45,193 shares held directly, so the insider retains a substantial equity stake.

Because the trades are pre-planned and the remaining position is large, this activity is typically viewed as routine portfolio management rather than a signal of a major shift in sentiment. Subsequent company filings may provide additional context if trading under this plan continues.

Insider Trade Summary

Net Seller: 75,000 shares ($5,305,876)

Net Sell 5 txns

Insider Chacon Quiros Juan Jose

Role null

Sold 75,000 shs ($5.31M)

Type	Security	Shares	Price	Value
Sale	Common Shares	7,651	$70.471	$539K
Sale	Common Shares	100	$71.34	$7K
Sale	Common Shares	41,265	$70.523	$2.91M
Sale	Common Shares	25,984	$71.176	$1.85M
holding	Common Shares	--	--	--

Holdings After Transaction: Common Shares — 1,032,604 shares (Indirect, See Footnote); Common Shares — 45,193 shares (Direct, null)

Footnotes (1)

The sale was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person. This transaction was executed in multiple trades at prices ranging from $70.00 to $70.99 per share. The price reported above reflects the weighted average sale price. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate price. The shares are held by Sariel Group Ltd. The Reporting Person is a shareholder of Sariel Group Ltd and has voting and dispositive power over the shares owned by Sariel Group Ltd. The Reporting Person disclaims beneficial ownership of the shares held by Sariel Group Ltd, except to the extent of his pecuniary interest therein. This transaction was executed in multiple trades at prices ranging from $71.00 to $71.70 per share. The price reported above reflects the weighted average sale price. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate price. This transaction was executed in multiple trades at prices ranging from $70.13 to $70.98 per share. The price reported above reflects the weighted average sale price. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.

Key Figures

Shares sold: 75,000 shares Sale price example: $71.1760 per share Sale price example: $70.4710 per share +3 more

6 metrics

Shares sold 75,000 shares Open-market sales reported on May 1 and May 4, 2026

Sale price example $71.1760 per share One of the weighted average prices on May 1, 2026

Sale price example $70.4710 per share Weighted average price for a May 4, 2026 sale block

Indirect holdings after trades 1,032,604 shares Common Shares held by Sariel Group Ltd after reported sales

Direct holdings 45,193 shares Common Shares held directly as of May 1, 2026

Price range example $70.00–$70.99 Range for one multi-trade transaction block

Key Terms

Rule 10b5-1 trading plan, weighted average sale price, voting and dispositive power, beneficial ownership, +1 more

5 terms

Rule 10b5-1 trading plan regulatory

"The sale was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person."

A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.

weighted average sale price financial

"The price reported above reflects the weighted average sale price."

voting and dispositive power regulatory

"The Reporting Person is a shareholder of Sariel Group Ltd and has voting and dispositive power over the shares owned"

beneficial ownership regulatory

"The Reporting Person disclaims beneficial ownership of the shares held by Sariel Group Ltd, except to the extent of his pecuniary interest"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

open-market sale financial

"transaction_action": "open-market sale""

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

Form 4 Insider Transactions: What Each Field Means →

05/04/2026 - 06:27 PM

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a 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). See Instruction 10.

1. Name and Address of Reporting Person^*

Chacon Quiros Juan Jose

(Last)

(First)

(Middle)

C/O MOTIVA USA LLC

16192 COASTAL HIGHWAY

(Street)

LEWES

DELAWARE

19958

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
ESTABLISHMENT LABS HOLDINGS INC. [ ESTA ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/01/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Shares	05/01/2026		S⁽¹⁾		41,265	D	$70.523⁽²⁾	1,066,239	I	See Footnote⁽³⁾
Common Shares	05/01/2026		S⁽¹⁾		25,984	D	$71.176⁽⁴⁾	1,040,255	I	See Footnote⁽³⁾
Common Shares	05/04/2026		S⁽¹⁾		7,651	D	$70.471⁽⁵⁾	1,032,604	I	See Footnote⁽³⁾
Common Shares	05/04/2026		S⁽¹⁾		100	D	$71.34	1,032,504	I	See Footnote⁽³⁾
Common Shares								45,193	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. The sale was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person.

2. This transaction was executed in multiple trades at prices ranging from $70.00 to $70.99 per share. The price reported above reflects the weighted average sale price. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.

3. The shares are held by Sariel Group Ltd. The Reporting Person is a shareholder of Sariel Group Ltd and has voting and dispositive power over the shares owned by Sariel Group Ltd. The Reporting Person disclaims beneficial ownership of the shares held by Sariel Group Ltd, except to the extent of his pecuniary interest therein.

4. This transaction was executed in multiple trades at prices ranging from $71.00 to $71.70 per share. The price reported above reflects the weighted average sale price. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.

5. This transaction was executed in multiple trades at prices ranging from $70.13 to $70.98 per share. The price reported above reflects the weighted average sale price. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.

Remarks:

	/s/ Juan Jose Chacon Quiros	05/04/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

How many ESTABLISHMENT LABS (ESTA) shares were sold in this Form 4?

The Form 4 reports that an entity associated with director Juan Jose Chacon Quiros sold a total of 75,000 Common Shares of ESTABLISHMENT LABS in open-market transactions at weighted average prices around $70–$71 per share.

At what prices were the 75,000 ESTABLISHMENT LABS (ESTA) shares sold?

The reported sales used weighted average prices. Footnotes state trades occurred in ranges of $70.00–$70.99, $70.13–$70.98, and $71.00–$71.70 per share, with line-item prices such as $70.4710 and $71.1760 disclosed.

Were the ESTABLISHMENT LABS (ESTA) insider sales made under a Rule 10b5-1 plan?

Yes. A footnote specifies that the sale was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person, indicating the transactions were pre-arranged rather than discretionary market-timing decisions.

How many ESTABLISHMENT LABS (ESTA) shares does the insider hold after these transactions?

After the reported sales, the filing shows 1,032,604 Common Shares held indirectly through Sariel Group Ltd and an additional 45,193 Common Shares held directly by Juan Jose Chacon Quiros.

What information do the Form 4 footnotes provide about ESTABLISHMENT LABS (ESTA) trades?

Footnotes explain that trades were executed in multiple lots within specified price ranges, that prices shown are weighted averages, and that details for each separate price level are available upon request from the SEC staff, the issuer, or its security holders.