[Form 4] Etsy, Inc. Insider Trading Activity

Rhea-AI Filing Summary

eBay Inc. (EBAY) filed a Form 144 disclosing a proposed sale of 7,689 common shares through Morgan Stanley Smith Barney on or about 05 Aug 2025. At the 08/02/2025 market price, the stake is valued at $702,732. The seller obtained the stock via two restricted-stock grants—3,898 shares on 15 Jun 2021 and 3,791 shares on 08 Jun 2022. No other sales were reported in the past three months. With 457 million shares outstanding, the planned disposition represents roughly 0.002 % of total shares, making any dilution or trading-volume impact de minimis. The filer attests to possessing no undisclosed adverse information about the company.

Positive

• Sale volume is immaterial, representing only 0.002 % of EBAY shares outstanding, implying negligible supply pressure.

Negative

• Insider selling—even in small amounts—can be perceived as a mild bearish signal by some investors.

Insights

Securities Analyst

TL;DR: Very small insider sale; negligible impact on EBAY share supply or valuation.

The 7,689-share sale equates to roughly 0.002 % of eBay’s outstanding stock and only ~0.1× average daily volume, suggesting minimal market disruption. Because the shares stem from routine restricted-stock vesting, the transaction looks like portfolio diversification rather than a bearish signal. No accompanying operational disclosures are included, so fundamental outlook remains unchanged.

Corporate Governance Expert

TL;DR: Routine Rule 144 filing, immaterial but still counts as insider selling.

Rule 144 requires notification when insiders unload restricted securities. The absence of prior 3-month sales and the representation of no undisclosed adverse information align with best-practice compliance. However, investors commonly view any insider sale, however small, as a potential soft negative. Given the dollar amount (~$0.7 M) and timing, the governance implications are neutral to slightly negative.

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^*

Nadal Toni Thompson

(Last) (First) (Middle)

C/O ETSY, INC.

117 ADAMS STREET

(Street)

BROOKLYN NY 11201

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	CHIEF HUMAN RESOURCES OFFICER

3. Date of Earliest Transaction (Month/Day/Year)
08/01/2025

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(1)	08/01/2025		M		4,650	A	$0	7,424	D
Common Stock	08/01/2025		F(2)		1,841	D	$58.77	5,583	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
Restricted Stock Units(3)	(4)	08/01/2025		M			4,650	(5)	(5)	Common Stock	4,650	$0	32,904	D

Explanation of Responses:

1. Shares of common stock acquired upon the vesting of the restricted stock units.

2. This transaction reported represents the withholding of shares by the Issuer to satisfy the Reporting Person's tax withholding obligations in connection with the vesting and settlement of the restricted stock units.

3. The Reporting Person has irrevocably elected to satisfy all withholding tax due upon the delivery of shares by authorizing Etsy, Inc. to withhold a sufficient amount of shares to satisfy such tax obligation.

4. Represents restricted stock units which correspond 1-for-1 with common stock.

5. The restricted stock units vest in 8 equal semi-annual installments, beginning on August 1, 2024, provided the Reporting Person remains continuously employed on each vesting date.

	/s/ Jennifer Card, Attorney-in-Fact	08/05/2025
	** 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

How many eBay (EBAY) shares are being sold under this Form 144?

The notice covers 7,689 common shares.

What is the estimated value of the shares to be sold?

At the filing price, the aggregate value is $702,732.31.

When is the planned sale date for the EBAY shares?

The filer lists an approximate sale date of 08/05/2025.

What percentage of eBay’s outstanding shares does this sale represent?

Roughly 0.002 % of the 457 million shares outstanding.

Were any other shares sold by this filer in the past three months?

No. The Form 144 states "Nothing to Report" for prior 3-month sales.