[Form 4] Etsy, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Michele Burns, a director of Etsy, Inc. (ETSY), reported transactions dated 08/22/2025 on Form 4. The filing shows an acquisition of 6,723 common shares via exercise at a price of $9.67 per share and contemporaneous sales of 14,464 common shares at a weighted average sale price of $62.82 per share. The Form 4 lists beneficial ownership of 34,428 shares following the acquisition line and 19,964 shares following the sale line. The filing notes the option was fully vested and immediately exercisable and provides a sales price range of $62.8104 to $62.8402 per share. The Form is signed on behalf of the reporting person by an attorney-in-fact on 08/26/2025.

Positive

• Exercise of options: Reporting person acquired 6,723 shares by exercising options at $9.67 per share
• Option vesting confirmed: The filing states the option is fully vested and immediately exercisable

Negative

• Insider sale: Reporting person sold 14,464 shares at a weighted average price of $62.82
• Change in beneficial ownership: The reported beneficial ownership figures differ across lines (34,428 and 19,964), reflecting the transactions

Insights

Securities Analyst

TL;DR: Director exercised options at a low strike and sold a larger block of shares at ~$62.82, with reported beneficial ownership remaining.

This Form 4 documents a common pattern: exercise of a stock option at a fixed strike followed by sales of shares. The exercise involved 6,723 shares at $9.67 per share, consistent with option vesting noted in the filing. The sales totaled 14,464 shares at a weighted average price of $62.82 per share, with the filing specifying the per-share sale prices fell between $62.8104 and $62.8402. The filing reports beneficial ownership figures on separate lines: 34,428 and 19,964 shares, reflecting the sequence of transactions disclosed in Table I. All information is presented as factual entries on the Form and contains no commentary or additional context from the reporting person.

Corporate Governance Expert

TL;DR: The filing records an immediate exercise and subsequent sale activity by a director; option vesting is explicitly stated.

The Form 4 explicitly notes the director stock option was fully vested and immediately exercisable at a $9.67 strike and that the reporting person sold 14,464 shares across transactions at a disclosed weighted average of $62.82. The filing includes an offer to provide detailed breakdowns of the number of shares sold at each price within the stated range, which is standard disclosure practice. All statements are limited to reported transactions and vesting status; no further rationale or planned disposition information is provided in the document.

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
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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^*

BURNS M MICHELE

(Last) (First) (Middle)

C/O GOLDMAN, SACHS & CO.

200 WEST STREET

(Street)

NEW YORK NY 10282

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
ETSY INC [ ETSY ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
08/22/2025

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

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

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

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	08/22/2025		M		6,723	A	$9.67	34,428	D
Common Stock	08/22/2025		S		14,464	D	$62.82(1)	19,964	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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Director Stock Option (Right to Buy)	$9.67	08/22/2025		M			6,723	(2)	06/08/2026	Common Stock	6,723	$0	15,000	D

Explanation of Responses:

1. The reported price in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $62.8104 to $62.8402 per share, 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.

2. The option is fully vested and immediately exercisable.

	/s/ Brittany Keen, Attorney-in-Fact	08/26/2025
	** 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.

FAQ

What did Michele Burns report on the Form 4 for ETSY?

The Form 4 reports the acquisition of 6,723 shares by option exercise at $9.67 and sales of 14,464 shares at a weighted average of $62.82 per share.

When were the transactions reported on the Form 4?

The transactions are dated 08/22/2025 and the Form is signed by an attorney-in-fact on 08/26/2025.

What was the sale price range disclosed for the shares sold?

The filing states sale prices ranged from $62.8104 to $62.8402 per share, with a weighted average of $62.82.

How many shares does Michele Burns beneficially own after the reported transactions?

The Form 4 shows 34,428 shares on the acquisition line and 19,964 shares on the sale line; these figures are reported in the document.

Was the option exercised immediately exercisable?

Yes, the filing explicitly states the option is fully vested and immediately exercisable.