Etsy (ETSY) Executive Chair Silverman exercises options and sells 12,148 shares under 10b5-1 plan

Rhea-AI Filing Summary

ETSY INC Executive Chair Josh Silverman reported an exercise-and-sell transaction in company stock. He exercised options for 12,148 shares of common stock at $10.62 per share, then sold the same 12,148 shares at $54.00 per share in an open-market transaction. After these trades, he directly holds 130,694 Etsy shares and maintains 804,064 options tied to the exercised grant. The filing notes that the exercise and sale were carried out under a pre-arranged Rule 10b5-1 trading plan, indicating the transactions were scheduled in advance. It also lists additional indirect holdings in various family trusts, with beneficial ownership disclaimed for several of them.

Insights

Equity compensation and insider-trading analyst

Routine option exercise-and-sell by Etsy’s Executive Chair under a pre-planned 10b5-1 trading program.

Josh Silverman exercised employee stock options for 12,148 shares at an exercise price of $10.62 and sold the same number of shares at $54.00. This is a classic exercise-and-sell pattern, turning vested options into cash while realizing the spread between strike and market price.

After the transactions, he still directly owns 130,694 Etsy shares and holds 804,064 options from the same grant, indicating a substantial remaining equity stake. A footnote states that the exercise and sale occurred pursuant to a Rule 10b5-1 trading plan adopted on November 20, 2025, suggesting the timing was pre-scheduled rather than opportunistic.

The filing also describes indirect holdings in several trusts, including a grantor retained annuity trust (GRAT) where Silverman is trustee and beneficiary, and other family trusts for which he disclaims beneficial ownership. Overall, the activity appears to be routine compensation-driven liquidity rather than a large discretionary share reduction.

Insider Trade Summary 10b5-1

Net Seller: 12,148 shares ($655,992)

Net Sell 8 txns

Insider Silverman Josh

Role Director

Sold 12,148 shs ($656K)

Type	Security	Shares	Price	Value
Exercise	Employee Stock Option (Right to Buy)	12,148	$0.00	--
Exercise	Common Stock	12,148	$10.62	$129K
Sale	Common Stock	12,148	$54.00	$656K
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Employee Stock Option (Right to Buy) — 804,064 shares (Direct); Common Stock — 142,842 shares (Direct); Common Stock — 4,942 shares (Indirect, By GST Trust)

Footnotes (1)

1. This exercise and subsequent sale 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

Options exercised: 12,148 shares Option exercise price: $10.62 per share Sale price: $54.00 per share +4 more

7 metrics

Options exercised 12,148 shares Employee stock option exercise on April 6, 2026

Option exercise price $10.62 per share Strike price for exercised employee stock options

Sale price $54.00 per share Open-market sale of 12,148 Etsy shares

Direct shares after transactions 130,694 shares Common stock directly held following April 6, 2026 trades

Remaining options from grant 804,064 options Employee stock options remaining after partial exercise

GRAT indirect holding 109,675 shares Common stock held by a grantor retained annuity trust

2019 Trust indirect holding 54,325 shares Common stock held by the 2019 Irrevocable Children’s Trust

Key Terms

Rule 10b5-1 trading plan, Employee Stock Option (Right to Buy), grantor retained annuity trust, Irrevocable GST Trust, +1 more

5 terms

Rule 10b5-1 trading plan financial

"This exercise and subsequent sale 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.

Employee Stock Option (Right to Buy) financial

"security_title: "Employee Stock Option (Right to Buy)" for the derivative transaction."

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")."

Section 16 regulatory

"the Reporting Person is the beneficial owner 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.

Form 4 Insider Transactions: What Each Field Means →

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).

X

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^*

Silverman Josh

(Last) (First) (Middle)

C/O ETSY INC.

117 ADAMS STREET

(Street)

BROOKLYN NEW YORK 11201

(City) (State) (Zip)

UNITED STATES

(Country)

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)	X	Other (specify below)
			Executive Chair of the Board

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/06/2026

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	04/06/2026		M(1)		12,148	A	$10.62	142,842	D
Common Stock	04/06/2026		S(1)		12,148	D	$54	130,694	D
Common Stock								4,942	I	By GST Trust(2)
Common Stock								16,886	I	By Non-GST Trust(3)
Common Stock								42,269	I	By Irrevocable Trust
Common Stock								109,675	I	By GRAT(4)
Common Stock								54,325	I	By 2019 Trust(5)

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
Employee Stock Option (Right to Buy)	$10.62	04/06/2026		M			12,148	(6)	05/03/2027	Common Stock	12,148	$0	804,064	D

Explanation of Responses:

1. This exercise and subsequent sale were made pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on November 20, 2025.

2. 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.

3. 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.

4. These shares are held by a grantor retained annuity trust (the "GRAT"). The Reporting Person is the trustee and the beneficiary of the GRAT.

5. 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.

6. 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.

	/s/ Brittany Keen, Attorney-in-Fact	04/08/2026
	** 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)

FAQ

What insider transaction did Etsy (ETSY) Executive Chair Josh Silverman report?

Josh Silverman reported exercising options for 12,148 Etsy shares at $10.62 and selling 12,148 shares at $54.00. This converts vested employee stock options into cash while leaving him with a sizable remaining stock and option position in the company.

How many Etsy (ETSY) shares does Josh Silverman hold after this Form 4 filing?

After the reported transactions, Josh Silverman directly holds 130,694 Etsy common shares. The filing also shows 804,064 options remaining from the same grant, plus additional indirect holdings in various family trusts, some of which he formally disclaims beneficial ownership of.

Was Josh Silverman’s Etsy (ETSY) stock sale under a Rule 10b5-1 trading plan?

Yes. A footnote explains the option exercise and subsequent sale were executed under a Rule 10b5-1 trading plan adopted on November 20, 2025. Such plans pre-schedule trades, indicating the timing is pre-arranged rather than based on short-term market developments.

What prices were involved in Josh Silverman’s Etsy (ETSY) option exercise and share sale?

Silverman exercised employee stock options with a $10.62 per share exercise price and sold 12,148 Etsy shares at $54.00 per share. The difference between these prices represents the gross spread realized before taxes or other costs associated with the transaction.

What indirect Etsy (ETSY) shareholdings related to Josh Silverman are disclosed?

The filing lists indirect holdings in several trusts, including a grantor retained annuity trust where Silverman is trustee and beneficiary, and other family trusts such as GST and Non-GST trusts. For some trusts, he expressly disclaims beneficial ownership of the reported Etsy shares.

Does this Etsy (ETSY) Form 4 indicate a major change in Josh Silverman’s ownership?

The Form 4 shows a routine exercise-and-sell of 12,148 shares paired with continued ownership of 130,694 shares and 804,064 options. Given the remaining holdings and use of a pre-planned 10b5-1 program, it reflects ongoing portfolio management rather than a dramatic ownership shift.