Etsy (NASDAQ: ETSY) chair’s 10b5-1 option exercise and stock sales
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Etsy Inc.'s Executive Chair of the Board Josh Silverman exercised employee stock options and sold the resulting shares under a pre-arranged Rule 10b5-1 trading plan. He exercised options for a total of 102,479 shares of common stock at a strike price of $10.62 per share, then sold 50,000 shares at $72.50 on June 15, 2026 and 52,479 shares at $74.00 on June 16, 2026 in open-market transactions.
After these transactions, Silverman directly holds 130,694 shares of Etsy common stock. Additional shares are held indirectly through various trusts, including 109,675 shares in a grantor retained annuity trust where he is trustee and beneficiary, and several irrevocable trusts where he disclaims beneficial ownership as described in the filing footnotes.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Net Seller: 102,479 shares ($7,508,446)
Net Sell
11 txns
Insider
Silverman Josh
Role
null
Sold
102,479 shs ($7.51M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Employee Stock Option (Right to Buy) | 52,479 | $0.00 | -- |
| Exercise | Common Stock | 52,479 | $10.62 | $557K |
| Sale | Common Stock | 52,479 | $74.00 | $3.88M |
| Exercise | Employee Stock Option (Right to Buy) | 50,000 | $0.00 | -- |
| Exercise | Common Stock | 50,000 | $10.62 | $531K |
| Sale | Common Stock | 50,000 | $72.50 | $3.63M |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Employee Stock Option (Right to Buy) — 317,397 shares (Direct, null);
Common Stock — 183,173 shares (Direct, null);
Common Stock — 4,942 shares (Indirect, By GST Trust)
Footnotes (1)
- These exercises and subsequent sales were made pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on November 20, 2025. 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. 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. These shares are held by a grantor retained annuity trust (the "GRAT"). The Reporting Person is the trustee and the beneficiary of the GRAT. These shares are held by the Joshua G. Silverman 2019 Irrevocable Children's Trust (the "2019 Trust"). A family member of the Reporting Person is the trustee of the 2019 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. 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.
Key Figures
Shares sold at $74.00: 52,479 shares
Shares sold at $72.50: 50,000 shares
Options exercised: 102,479 shares at $10.62
+4 more
7 metrics
Shares sold at $74.00
52,479 shares
Open-market sale of common stock on June 16, 2026 at $74.00
Shares sold at $72.50
50,000 shares
Open-market sale of common stock on June 15, 2026 at $72.50
Options exercised
102,479 shares at $10.62
Employee stock options exercised for common stock on June 15–16, 2026
Direct holdings after trades
130,694 shares
Etsy common stock directly held by Silverman following transactions
GRAT holdings
109,675 shares
Common stock held indirectly through a grantor retained annuity trust
Remaining stock options
317,397 options at $10.62
Employee stock options following June 16, 2026 exercise; expire May 3, 2027
Children’s trust holdings
54,325 shares
Common stock held by 2019 irrevocable children’s trust; beneficial ownership disclaimed
Key Terms
Rule 10b5-1 trading plan, grantor retained annuity trust, irrevocable GST Trust, Employee Stock Option (Right to Buy), +1 more
5 terms
Rule 10b5-1 trading plan financial
"These exercises and subsequent sales were made pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on November 20, 2025."
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.
grantor retained annuity trust financial
"These shares are held by a grantor retained annuity trust (the "GRAT"). The Reporting Person is the trustee and the beneficiary of the GRAT."
A grantor retained annuity trust (GRAT) is an estate-planning tool where the person who creates the trust transfers assets into it but receives fixed cash payments (an annuity) from the trust for a set number of years; whatever remains after that term passes to designated beneficiaries. It matters to investors because it can shift future appreciation of assets out of the creator’s taxable estate—like putting an asset into a timed vending machine that pays you fixed amounts while any extra value that grows inside the machine goes to heirs with reduced gift or estate tax consequences.
irrevocable GST Trust financial
"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."
Employee Stock Option (Right to Buy) financial
"Employee Stock Option (Right to Buy) with underlying security title Common Stock and conversion or exercise price 10.6200."
Section 16 regulatory
"The Reporting Person disclaims beneficial ownership of these securities ... for purposes of Section 16 or for any other purpose."
Section 16 is a U.S. securities law rule that governs the trading and disclosure obligations of company insiders — typically officers, directors and large shareholders — to promote transparency and deter unfair profit-taking. It requires insiders to publicly report their stock trades and allows companies or the issuer to reclaim quick, short-term profits from certain insider trades, like a scoreboard and a refund policy that help investors see and limit possible insider advantage.
FAQ
What insider transactions did Etsy (ETSY) Executive Chair Josh Silverman report?
Josh Silverman reported exercising stock options for 102,479 Etsy shares at $10.62 and selling 50,000 shares at $72.50 plus 52,479 shares at $74.00. These open-market sales followed the option exercises and were executed under a Rule 10b5-1 trading plan.
Were Josh Silverman’s Etsy (ETSY) stock sales pre-planned under Rule 10b5-1?
Yes. The filing states that the option exercises and subsequent Etsy share sales were made pursuant to a Rule 10b5-1 trading plan adopted on November 20, 2025. Such plans pre-schedule trades, indicating the timing was determined in advance rather than based on current market conditions.
What stock options did Josh Silverman exercise in this Etsy (ETSY) Form 4?
He exercised employee stock options covering 102,479 Etsy shares at an exercise price of $10.62 per share. These options are part of a grant that vested 25% on May 4, 2018, with the remainder vesting in 36 equal monthly installments, and expire on May 3, 2027.
What indirect Etsy (ETSY) holdings are reported for Josh Silverman in trusts?
The filing lists indirect holdings through several trusts, including 54,325 shares in a 2019 children’s trust, 42,269 in an irrevocable trust, 16,886 in a non-GST trust and 4,942 in a GST trust. Silverman disclaims beneficial ownership in several of these, as detailed in the footnotes.