Etsy executive chair exercises options, sells shares

Etsy Inc. executive chair Josh Silverman exercised employee stock options and sold shares in a coordinated transaction.

Rhea-AI Filing Summary

Etsy Inc. executive chair Josh Silverman exercised employee stock options and sold shares in a coordinated transaction. He exercised 70,000 options for Common Stock at $10.62 per share and sold 70,000 Common Stock shares at $65.00 per share in an open-market transaction made under a pre-arranged Rule 10b5-1 trading plan adopted on November 20, 2025.

Following the sale, he directly holds 130,694 Common Stock shares. Separate indirect holdings are reported through various trusts, including a grantor retained annuity trust where he is trustee and beneficiary, and several irrevocable trusts where he disclaims beneficial ownership.

Insights

Equity compensation and insider-trading analyst

Routine option exercise-and-sell under a pre-planned Rule 10b5-1 plan.

Josh Silverman exercised 70,000 employee stock options at an exercise price of $10.62 per share and sold 70,000 Etsy Common Stock shares at $65.00 per share. This is a classic exercise-and-sell pattern converting an option position into cash.

The filing states the exercise and subsequent sale were made pursuant to a Rule 10b5-1 trading plan adopted on November 20, 2025, indicating the transactions were pre-scheduled rather than opportunistic. After the sale, he directly holds 130,694 shares and continues to have substantial indirect interests via a GRAT and other trusts.

Insider Trade Summary 10b5-1

Exercise and Sale: 70,000 shares ($3.81M approx. pre-tax spread)

Exercise and Sale 8 txns

Insider Silverman Josh

Role Director

Sold 70,000 shs ($4.55M)

Approx. gross sale proceeds $4.55M

Approx. exercise cost $743K

Approx. pre-tax spread $3.81M

Type	Security	Shares	Price	Value
Exercise	Employee Stock Option (Right to Buy)	70,000	$0.00	$0.00
Exercise	Common Stock	70,000	$10.62	$743K
Sale	Common Stock	70,000	$65.00	$4.55M
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Employee Stock Option (Right to Buy) — 679,399 contracts (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)

1. 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.
2. 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.
3. 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.
4. 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.
5. 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.
6. 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: 70,000 shares Sale price: $65.00 per share Options exercised: 70,000 options +5 more

8 metrics

Shares sold 70,000 shares Common Stock sold at $65.00 on April 21, 2026

Sale price $65.00 per share Open-market sale of 70,000 Common Stock shares

Options exercised 70,000 options Employee Stock Options exercised for Common Stock

Option exercise price $10.62 per share Exercise price of employee stock options

Direct shares after transaction 130,694 shares Common Stock directly held after April 21, 2026 sale

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

GST Trust holding 4,942 shares Common Stock held by JGS 2018 Irrevocable GST Trust

Remaining options from grant 679,399 options Employee Stock Options outstanding after 70,000 exercised

Key Terms

Rule 10b5-1 trading plan, grantor retained annuity trust, Irrevocable GST Trust, Irrevocable Non-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.

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")."

Employee Stock Option (Right to Buy) financial

"Security title: Employee Stock Option (Right to Buy)"

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.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Etsy (ETSY) executive chair Josh Silverman report in this Form 4?

Josh Silverman reported an option exercise and share sale. He exercised 70,000 employee stock options at $10.62 per share and sold 70,000 Etsy Common Stock shares at $65.00 per share, all under a pre-arranged Rule 10b5-1 trading plan adopted in November 2025.

How many Etsy (ETSY) shares did Josh Silverman sell and at what price?

He sold 70,000 Etsy Common Stock shares. The sale price disclosed was $65.00 per share in an open-market transaction. This disposition occurred on April 21, 2026 as part of a coordinated exercise-and-sell sequence reported in the Form 4 filing.

What stock options did Josh Silverman exercise in the Etsy (ETSY) Form 4?

He exercised 70,000 employee stock options for Etsy Common Stock at an exercise price of $10.62 per share. These options are part of a grant that vested 25% on May 4, 2018, with the remainder vesting in 36 equal monthly installments thereafter.

How many Etsy (ETSY) shares does Josh Silverman hold directly after this transaction?

After the reported transactions, he directly holds 130,694 Etsy Common Stock shares. This figure reflects his position following the 70,000-share sale on April 21, 2026, and provides context for the scale of the disposition relative to his remaining direct holdings.

Were Josh Silverman’s Etsy (ETSY) transactions made under a Rule 10b5-1 plan?

Yes. The filing states the option exercise and subsequent sale were made pursuant to a Rule 10b5-1 trading plan adopted on November 20, 2025. Such plans pre-schedule trades, indicating these transactions were arranged in advance rather than timed discretionarily.

What indirect Etsy (ETSY) share holdings related to Josh Silverman are shown in the Form 4?

The filing lists indirect holdings through several trusts, including a grantor retained annuity trust where he is trustee and beneficiary, and multiple irrevocable trusts. For certain trusts, he disclaims beneficial ownership, noting that family members serve as trustees of those entities.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 04/23/2026 - 05:00 PM EDT Learn about SEC filing dates

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)
04/21/2026

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	04/21/2026		M(1)		70,000	A	$10.62	200,694	D
Common Stock	04/21/2026		S(1)		70,000	D	$65	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	04/21/2026		M(1)			70,000	(6)	05/03/2027	Common Stock	70,000	$0	679,399	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	04/23/2026
	** 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)