[Form 4] ETSY INC Insider Trading Activity

Rhea-AI Filing Summary

Joshua G. Silverman, CEO and a director of Etsy, reported the exercise of employee stock options and related sales under a pre-established plan. On 09/29/2025 he exercised 150,000 options with a $10.62 exercise price, producing 150,000 shares, and sold 150,000 shares in multiple transactions at a weighted average price of $72.50. The trades were made pursuant to a Rule 10b5-1 trading plan adopted on 11/05/2024. After these transactions, the filing shows the reporting person directly beneficially owns 995,616 shares and also discloses several indirect holdings across trusts totaling additional shares held in various trust vehicles.

Positive

• Trades executed under a documented Rule 10b5-1 plan, reducing questions about insider timing
• Detailed disclosure of indirect holdings via trusts, including GST Trust, Non-GST Trust, GRAT, and children’s trust

Negative

• None.

Insights

Securities Analyst

TL;DR: Routine option exercise and concurrent sales under a 10b5-1 plan; transaction monetizes vested compensation without indicating new insider signal.

The filing documents a standard exercise of vested employee stock options and contemporaneous sales executed under a pre-existing Rule 10b5-1 trading plan dated 11/05/2024. The exercise price was $10.62 for 150,000 options; the shares sold realized a weighted average sale price of $72.50. This is a common mechanism for executives to diversify or monetize equity compensation while following an affirmative compliance plan, and it does not disclose other corporate developments or material non-routine events.

Corporate Governance Expert

TL;DR: Governance appears compliant: trades executed under a documented 10b5-1 plan and multiple trust holdings are disclosed.

The report properly discloses direct and indirect holdings, including shares held in multiple irrevocable and grantor trusts and a GRAT, with express disclaimers where applicable. The use of an attorney-in-fact signature is noted. From a governance standpoint, the disclosure aligns with Section 16 obligations and demonstrates use of an established trading plan to mitigate concerns about insider timing.

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).

1. Name and Address of Reporting Person^*

Silverman Josh

(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
X	Officer (give title below)		Other (specify below)
	Chief Executive Officer

3. Date of Earliest Transaction (Month/Day/Year)
09/29/2025

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	09/29/2025		M(1)		150,000	A	$10.62	212,674	D
Common Stock	09/29/2025		S(1)		150,000	D	$72.5(2)	62,674	D
Common Stock								4,942	I	By GST Trust(3)
Common Stock								16,886	I	By Non-GST Trust(4)
Common Stock								42,269	I	By Irrevocable Trust
Common Stock								109,675	I	By GRAT(5)
Common Stock								54,325	I	By 2019 Trust(6)

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	09/29/2025		M(1)			150,000	(7)	05/03/2027	Common Stock	150,000	$0	995,616	D

Explanation of Responses:

1. This exercise and subsequent sales were made pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on November 5, 2024.

2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $72.50 to $72.545, 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.

3. 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.

4. 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.

5. These shares are held by the Reporting Person's GRAT. The Reporting Person is the trustee and the beneficiary of the GRAT.

6. 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.

7. 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	10/01/2025
	** 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 transactions did ETSY insider Joshua Silverman report on the Form 4?

He exercised 150,000 employee stock options at an exercise price of $10.62 and sold 150,000 shares in multiple transactions at a weighted average price of $72.50.

Were the trades part of a planned trading arrangement for ETSY (ETSY)?

Yes. The exercise and sales were made pursuant to a Rule 10b5-1 trading plan adopted on 11/05/2024.

How many shares does the Form 4 show Joshua Silverman beneficially owns after the transactions?

It reports 995,616 shares directly beneficially owned following the reported derivative and non-derivative transactions.

What indirect holdings did the filing disclose for the ETSY reporting person?

Indirect holdings include 4,942 shares in a GST Trust, 16,886 in a Non-GST Trust, 42,269 in an Irrevocable Trust, 109,675 in a GRAT, and 54,325 in a 2019 Irrevocable Children’s Trust.

What was the exercise price and vesting detail for the options exercised?

Exercise price: $10.62 per share. The grant vested 25% on 05/04/2018 with the remainder vesting in 36 equal monthly installments.