IRSA (NYSE: IRS) shareholder plans sale of 4,434,647 common shares
Filing Impact
Filing Sentiment
Form Type
144
IRSA Inversiones y Representaciones S.A. shareholder Eduardo Sergio Elsztain has filed a notice to sell 4,434,647 common shares. The planned sale has an aggregate market value of 7,396,183 and relates to 861,199,098 common shares outstanding, with an approximate sale date of 02/05/2026 on BYMA through Latin Securities Argentina S.A.
The shares were accumulated over time via a negotiated private transaction in 2020, multiple open-market purchases in 2021–2022, shares received in a 2022 merger involving IRSA and IRCP, and distributions of dividends in kind in 2023 and 2024. The filing also lists a series of small IRSA common share sales over the past three months, each with specific dates, amounts, and gross proceeds. By signing, the seller represents not knowing any undisclosed material adverse information about IRSA’s current or prospective operations.
Positive
- None.
Negative
- None.
| Form 144 Filer Information |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144
NOTICE OF PROPOSED SALE OF SECURITIES
PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933 | |
FORM 144 |
144: Filer Information
| Filer CIK | |
| Filer CCC | |
| Is this a LIVE or TEST Filing? | LIVE TEST |
Submission Contact Information | |
| Name | |
| Phone | |
| E-Mail Address |
144: Issuer Information
| Name of Issuer | |
| SEC File Number | |
| Address of Issuer | |
| Phone | |
| Name of Person for Whose Account the Securities are To Be Sold | |
See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account
the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given
as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales
for the account of the person filing this notice.
| |
| Relationship to Issuer | |
144: Securities Information
| Title of the Class of Securities To Be Sold | Name and Address of the Broker | Number of Shares or Other Units To Be Sold | Aggregate Market Value | Number of Shares or Other Units Outstanding | Approximate Date of Sale | Name the Securities Exchange |
|---|---|---|---|---|---|---|
| Common shares | Latin Securities Argentina S.A. Arenales 707 City of Buenos Aires C1 C1006 | 4434647 | 7396183 | 861199098 | 02/05/2026 | BYMA |
Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment
of all or any part of the purchase price or other consideration therefor:
144: Securities To Be Sold
| Title of the Class | Date you Acquired | Nature of Acquisition Transaction | Name of Person from Whom Acquired | Is this a Gift? | Date Donor Acquired | Amount of Securities Acquired | Date of Payment | Nature of Payment * |
|---|---|---|---|---|---|---|---|---|
| Common shares | 12/30/2020 | Negotiated, private transaction | IRSA / Consultores Venture Capital | 191491 | 12/30/2020 | NA | ||
| Common shares | 05/06/2021 | Open Market purchases | NA | 327051 | 05/06/2021 | Cash | ||
| Common shares | 05/10/2021 | Open Market purchases | NA | 18127 | 05/10/2021 | Cash | ||
| Common shares | 10/27/2021 | Open Market purchases | NA | 679 | 10/27/2021 | Cash | ||
| Common shares | 10/28/2021 | Open Market purchases | NA | 200 | 10/28/2021 | Cash | ||
| Common shares | 11/18/2021 | Open Market purchases | NA | 1000 | 11/18/2021 | Cash | ||
| Common shares | 11/30/2021 | Open Market purchases | NA | 972 | 11/30/2021 | Cash | ||
| Common shares | 12/01/2021 | Open Market purchases | NA | 1862 | 12/01/2021 | Cash | ||
| Common shares | 12/15/2021 | Open Market purchases | NA | 3000 | 12/15/2021 | Cash | ||
| Common shares | 12/30/2021 | Open Market purchases | NA | 1100 | 12/30/2021 | Cash | ||
| Common shares | 01/24/2022 | Open Market purchases | NA | 3401 | 01/24/2022 | Cash | ||
| Common shares | 01/25/2022 | Open Market purchases | NA | 2000 | 01/25/2022 | Cash | ||
| Common shares | 02/16/2022 | Open Market purchases | NA | 3000 | 02/16/2022 | Cash | ||
| Common shares | 02/24/2022 | Open Market purchases | NA | 4000 | 02/24/2022 | Cash | ||
| Common shares | 04/20/2022 | Open Market purchases | NA | 1686 | 04/20/2022 | Cash | ||
| Common shares | 04/21/2022 | Open Market purchases | NA | 4605 | 04/21/2022 | Cash | ||
| Common shares | 05/30/2022 | Acquired pursuant to the merger of IRSA (as merging company) and IRCP | NA | 3607233 | 05/30/2022 | NA | ||
| Common shares | 10/12/2023 | Distribution of dividends in kind | IRSA Inversiones y Representaciones S.A. | 111700 | 10/12/2023 | NA | ||
| Common shares | 11/05/2024 | Distribution of dividends in kind | IRSA Inversiones y Representaciones S.A. | 191540 | 11/05/2024 | NA |
* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note
thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made
in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.
Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.
144: Securities Sold During The Past 3 Months
| Name and Address of Seller | Title of Securities Sold | Date of Sale | Amount of Securities Sold | Gross Proceeds |
|---|---|---|---|---|
| Eduardo Sergio Elsztain Bolivar 108 1st floor City of Buenos Aires C1 C1066AAD | IRSA Common shares | 12/12/2025 | 35 | 53.61 |
| Eduardo Sergio Elsztain Bolivar 108 1st floor City of Buenos Aires C1 C1066AAD | IRSA Common shares | 12/15/2025 | 24 | 37.02 |
| Eduardo Sergio Elsztain Bolivar 108 1st floor City of Buenos Aires C1 C1066AAD | IRSA Common shares | 12/16/2025 | 40 | 61.07 |
| Eduardo Sergio Elsztain Bolivar 108 1st floor City of Buenos Aires C1 C1066AAD | IRSA Common shares | 12/17/2025 | 51 | 76.52 |
| Eduardo Sergio Elsztain Bolivar 108 1st floor City of Buenos Aires C1 C1066AAD | IRSA Common shares | 12/18/2025 | 65 | 100.57 |
| Eduardo Sergio Elsztain Bolivar 108 1st floor City of Buenos Aires C1 C1066AAD | IRSA Common shares | 12/19/2025 | 50 | 77.53 |
| Eduardo Sergio Elsztain Bolivar 108 1st floor City of Buenos Aires C1 C1066AAD | IRSA Common shares | 12/22/2025 | 25 | 38.66 |
| Eduardo Sergio Elsztain Bolivar 108 1st floor City of Buenos Aires C1 C1066AAD | IRSA Common shares | 12/23/2025 | 60 | 93.54 |
| Eduardo Sergio Elsztain Bolivar 108 1st floor City of Buenos Aires C1 C1066AAD | IRSA Common shares | 12/24/2025 | 10 | 15.59 |
| Eduardo Sergio Elsztain Bolivar 108 1st floor City of Buenos Aires C1 C1066AAD | IRSA Common shares | 12/26/2025 | 50 | 79.66 |
| Eduardo Sergio Elsztain Bolivar 108 1st floor City of Buenos Aires C1 C1066AAD | IRSA Common shares | 12/29/2025 | 50 | 80.55 |
| Eduardo Sergio Elsztain Bolivar 108 1st floor City of Buenos Aires C1 C1066AAD | IRSA Common shares | 12/30/2025 | 55 | 92.39 |
| Eduardo Sergio Elsztain Bolivar 108 1st floor City of Buenos Aires C1 C1066AAD | IRSA Common shares | 01/02/2026 | 50 | 81.39 |
| Eduardo Sergio Elsztain Bolivar 108 1st floor City of Buenos Aires C1 C1066AAD | IRSA Common shares | 01/05/2026 | 45 | 74.09 |
| Eduardo Sergio Elsztain Bolivar 108 1st floor City of Buenos Aires C1 C1066AAD | IRSA Common shares | 01/06/2026 | 65 | 102.91 |
| Eduardo Sergio Elsztain Bolivar 108 1st floor City of Buenos Aires C1 C1066AAD | IRSA Common shares | 01/07/2026 | 55 | 85.8 |
| Eduardo Sergio Elsztain Bolivar 108 1st floor City of Buenos Aires C1 C1066AAD | IRSA Common shares | 01/08/2026 | 30 | 48.69 |
| Eduardo Sergio Elsztain Bolivar 108 1st floor City of Buenos Aires C1 C1066AAD | IRSA Common shares | 01/09/2026 | 50 | 82.18 |
| Eduardo Sergio Elsztain Bolivar 108 1st floor City of Buenos Aires C1 C1066AAD | IRSA Common shares | 01/12/2026 | 60 | 98.32 |
| Eduardo Sergio Elsztain Bolivar 108 1st floor City of Buenos Aires C1 C1066AAD | IRSA Common shares | 01/13/2026 | 55 | 92.83 |
| Eduardo Sergio Elsztain Bolivar 108 1st floor City of Buenos Aires C1 C1066AAD | IRSA Common shares | 01/14/2026 | 30 | 50.31 |
| Eduardo Sergio Elsztain Bolivar 108 1st floor City of Buenos Aires C1 C1066AAD | IRSA Common shares | 01/15/2026 | 25 | 40.8 |
| Eduardo Sergio Elsztain Bolivar 108 1st floor City of Buenos Aires C1 C1066AAD | IRSA Common shares | 01/16/2026 | 40 | 66.65 |
| Eduardo Sergio Elsztain Bolivar 108 1st floor City of Buenos Aires C1 C1066AAD | IRSA Common shares | 01/19/2026 | 15 | 24.59 |
| Eduardo Sergio Elsztain Bolivar 108 1st floor City of Buenos Aires C1 C1066AAD | IRSA Common shares | 01/20/2026 | 40 | 64.59 |
144: Remarks and Signature
| Remarks | |
| Date of Notice | |
ATTENTION: | |
| The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date. | |
| Signature | |
ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001) | |
FAQ
What does the Form 144 filing for IRSA (IRS) disclose about planned share sales?
The Form 144 discloses that shareholder Eduardo Sergio Elsztain plans to sell 4,434,647 IRSA common shares. The planned sale has an aggregate market value of 7,396,183 and is expected to occur around 02/05/2026 on the BYMA exchange.
How many IRSA common shares are outstanding in this Form 144 filing?
The filing states that there are 861,199,098 IRSA common shares outstanding. This figure provides context for the planned sale of 4,434,647 shares by Eduardo Sergio Elsztain, helping investors gauge the relative size of the proposed sale versus the total share base.
How were the IRSA shares in this Form 144 accumulated by the selling shareholder?
The shares were acquired through a negotiated private transaction in 2020, multiple open market purchases in 2021–2022, shares received from a 2022 merger involving IRSA and IRCP, and additional stock received as dividends in kind during 2023 and 2024.
Which broker and exchange are involved in the planned IRSA share sale under Form 144?
The filing lists Latin Securities Argentina S.A., based in Buenos Aires, as the broker handling the transaction. The planned sale of 4,434,647 IRSA common shares is expected to take place on the BYMA securities exchange, with an approximate date of 02/05/2026.
What recent IRSA share sales by the same shareholder are reported in the last 3 months?
The notice details multiple small IRSA common share sales by Eduardo Sergio Elsztain between 12/12/2025 and 01/20/2026, with amounts ranging from 10 to 65 shares per transaction and corresponding gross proceeds figures, illustrating recent trading activity before the planned larger sale.
What representations does the selling shareholder make in the IRSA Form 144 notice?
By signing, the seller represents that they do not know any material adverse information about IRSA’s current or prospective operations that has not been publicly disclosed. The notice also warns that intentional misstatements or omissions can constitute federal criminal violations under 18 U.S.C. 1001.