Etsy (ETSY) chair’s planned option exercise leads to 54,665-share sale
Rhea-AI Filing Summary
Etsy's Executive Chair Josh Silverman exercised stock options and sold shares in a planned transaction. He exercised options covering 54,665 shares of common stock at $10.62 per share, then sold the same number of shares in open-market trades at $59 and $64 per share, all under a Rule 10b5-1 trading plan adopted on November 20, 2025.
Following these transactions, Silverman holds 130,694 Etsy shares directly. Additional shares are held indirectly through family trusts, including 109,675 shares in a grantor retained annuity trust where he is trustee and beneficiary, and other irrevocable trusts where he disclaims beneficial ownership, such as 54,325 shares in a 2019 children's trust and 4,942 and 16,886 shares in GST and Non-GST trusts.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Exercise and Sale: 54,665 shares ($2.80M approx. pre-tax spread)
Exercise and Sale
11 txns
Insider
Silverman Josh
Role
Director
Sold
54,665 shs ($3.38M)
Approx. gross sale proceeds
$3.38M
Approx. exercise cost
$581K
Approx. pre-tax spread
$2.80M
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Employee Stock Option (Right to Buy) | 30,369 | $0.00 | $0.00 |
| Exercise | Common Stock | 30,369 | $10.62 | $323K |
| Sale | Common Stock | 30,369 | $64.00 | $1.94M |
| Exercise | Employee Stock Option (Right to Buy) | 24,296 | $0.00 | $0.00 |
| Exercise | Common Stock | 24,296 | $10.62 | $258K |
| Sale | Common Stock | 24,296 | $59.00 | $1.43M |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Employee Stock Option (Right to Buy) — 749,399 shares (Direct);
Common Stock — 130,694 shares (Direct);
Common Stock — 4,942 shares (Indirect, By GST Trust);
Common Stock — 16,886 shares (Indirect, By Non-GST Trust);
Common Stock — 42,269 shares (Indirect, By Irrevocable Trust);
Common Stock — 109,675 shares (Indirect, By GRAT);
Common Stock — 54,325 shares (Indirect, By 2019 Trust)
Footnotes (6)
- F1. This exercise and subsequent sale were made pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on November 20, 2025.
- F2. 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.
- F3. 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.
- F4. These shares are held by a grantor retained annuity trust (the "GRAT"). The Reporting Person is the trustee and the beneficiary of the GRAT.
- F5. 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.
- F6. 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 $64: 30,369 shares at $64.00
Shares sold at $59: 24,296 shares at $59.00
Options exercised: 54,665 shares at $10.62
+5 more
8 metrics
Shares sold at $64
30,369 shares at $64.00
Open-market sale of common stock on April 20, 2026
Shares sold at $59
24,296 shares at $59.00
Open-market sale of common stock on April 16, 2026
Options exercised
54,665 shares at $10.62
Employee stock option exercises of common stock
Direct holdings after trades
130,694 shares
Common stock directly owned following April 2026 transactions
GRAT indirect holdings
109,675 shares
Common stock held by grantor retained annuity trust
2019 Children’s Trust holdings
54,325 shares
Common stock held by 2019 irrevocable children’s trust; ownership disclaimed
GST Trust holdings
4,942 shares
Common stock held by Irrevocable GST Trust; ownership disclaimed
Non-GST Trust holdings
16,886 shares
Common stock held by Irrevocable Non-GST Trust; ownership disclaimed
Key Terms
Rule 10b5-1 trading plan, Employee Stock Option (Right to Buy), grantor retained annuity trust, Irrevocable GST Trust, +2 more
6 terms
Rule 10b5-1 trading plan regulatory
"This exercise and subsequent sale were made pursuant to a Rule 10b5-1 trading plan adopted..."
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)"
grantor retained annuity trust financial
"These shares are held by a grantor retained annuity trust (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")."
Irrevocable Non-GST Trust financial
"These shares are held by the JGS 2018 Irrevocable Non-GST Trust (the "Non-GST Trust")."
beneficial ownership regulatory
"The Reporting Person disclaims beneficial ownership of these securities..."
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.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What did Etsy (ETSY) Executive Chair Josh Silverman do in this Form 4?
Josh Silverman exercised options and sold Etsy shares. He exercised stock options for 54,665 shares at $10.62, then sold the same 54,665 shares in open-market trades at $59 and $64 per share under a pre-arranged Rule 10b5-1 plan.
What indirect Etsy (ETSY) holdings does Josh Silverman report through trusts?
Silverman reports several indirect trust holdings. These include 109,675 shares in a grantor retained annuity trust he controls, plus additional shares in GST, Non-GST, and 2019 children’s irrevocable trusts where he disclaims beneficial ownership in the filing footnotes.
What stock options did Josh Silverman exercise in the Etsy (ETSY) filing?
He exercised employee stock options for 54,665 shares. The options, with a $10.62 exercise price, were granted under a plan that vested 25% on May 4, 2018, with the remainder vesting in 36 equal monthly installments, according to the footnotes.