[Form 4] Etsy, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Form 4 overview: Etsy, Inc. (ticker: ETSY) reported insider activity for director David S. Rosenblatt on 17 June 2025. The filing discloses two separate transactions involving the company’s equity compensation program for non-employee directors.

Transaction details:

• Table I shows the conversion of 1,299 Restricted Stock Units (RSUs) into an equal number of common shares (transaction code M). The conversion price was reported as $0, reflecting a standard equity grant vesting. Following the conversion, Rosenblatt directly owns 1,299 ETSY common shares.
• Table II records two derivative security entries: (1) the same 1,299 RSUs that were fully vested and converted, leaving a post-conversion balance of 0 derivative units; and (2) a new grant of 4,733 RSUs (transaction code A) awarded as part of the annual director retainer. These RSUs carry no exercise price, will convert 1-for-1 into common stock, and are scheduled to vest in full on the date of Etsy’s next Annual Meeting of Stockholders, provided Rosenblatt remains on the Board.

Implications for investors: The filing represents routine director compensation rather than open-market buying or selling. The net share increase is modest relative to Etsy’s ~127 million outstanding shares (per last 10-K) and is unlikely to influence ownership concentration or float. However, it reinforces ongoing equity alignment between the board and shareholders by increasing the director’s direct stake and establishing additional unvested equity that incentivizes future service.

Insights

Corporate Governance Expert

TL;DR: Routine director RSU vesting and new grant; no market-moving signal.

The Form 4 is a straightforward record of David Rosenblatt’s annual non-employee director compensation. He gained 1,299 shares via RSU conversion and received 4,733 new RSUs, both at a zero exercise price. No shares were sold, so there is no negative sentiment from a liquidity perspective. The scale—roughly 0.005% of shares outstanding—is immaterial to ownership structure. Investors should view this as standard governance practice that modestly ties board incentives to shareholder value. Absent additional insider accumulation or sales, the disclosure is neutral for valuation or trading considerations.

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^*

ROSENBLATT DAVID S

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
06/17/2025

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	06/17/2025		M		1,299	A	$0	1,299	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	(1)	06/17/2025		M			1,299	(2)	(2)	Common Stock	1,299	$0	0	D
Restricted Stock Units	(1)	06/17/2025		A		4,733		(3)	(3)	Common Stock	4,733	$0	4,733	D

Explanation of Responses:

1. Units correspond 1-for-1 with common stock.

2. 100% of this award vested on June 17, 2025.

3. This award is granted as part of the Reporting Person's annual retainer under the Etsy, Inc. Compensation Program for Non-Employee directors. 100% of this award will vest on the date of the next Annual Meeting of Stockholders, subject to the Reporting Person's continuous service as a member of the Board of Directors on such date.

	/s/ Birttany Keen, Attorney-in-Fact	06/18/2025
	** 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 ETSY shares did Director David Rosenblatt acquire on 17 June 2025?

1,299 common shares were acquired through the conversion of vested RSUs.

What new equity award did Rosenblatt receive according to the Form 4?

He received a grant of 4,733 Restricted Stock Units as part of the annual non-employee director retainer.

When will the newly granted 4,733 RSUs vest?

They will vest in full at Etsy’s next Annual Meeting of Stockholders, subject to continued board service.

Did the filing report any insider sales of ETSY shares?

No. The Form 4 only shows acquisitions; there were no sales or dispositions.

What transaction codes were used in the filing?

Code M for the RSU conversion to shares and code A for the new RSU grant.