IRSA (NYSE: IRS) director Eduardo Elsztain sells 30,428 common shares

Filing Impact

(Very High)

Filing Sentiment

(Very Negative)

Form Type

Rhea-AI Filing Summary

IRSA Investments & Representations Inc. director and ten percent owner Eduardo S. Elsztain reported open-market sales of common shares. He sold 20,000 shares on 2026-03-19 at 2,115 per share and 10,428 shares on 2026-03-18 at 2,156.03 per share, with prices reported in Argentine pesos. After these transactions, he directly held 4,457,258 common shares, indicating that the sales represent a small portion of his overall position.

Insider Trade Summary

Net Seller: 30,428 shares ($64,783,081)

Net Sell 2 txns

Insider ELSZTAIN EDUARDO S

Role Director, 10% Owner

Sold 30,428 shs ($64.78M)

Type	Security	Shares	Price	Value
Sale	Common Shares	20,000	$2,115.00	$42.30M
Sale	Common Shares	10,428	$2,156.03	$22.48M

Holdings After Transaction: Common Shares — 4,457,258 shares (Direct)

Footnotes (1)

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Form 4 Insider Transactions: What Each Field Means →

03/19/2026 - 05:37 PM

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^*

ELSZTAIN EDUARDO S

(Last)

(First)

(Middle)

BOLIVAR 108 1ST FLOOR

(Street)

BUENOS AIRES

C1066AAD

(City)

(State)

(Zip)

ARGENTINA

(Country)

2. Issuer Name and Ticker or Trading Symbol
IRSA INVESTMENTS & REPRESENTATIONS INC [ IRS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

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

2a. Foreign Trading Symbol
[IRSA]

3. Date of Earliest Transaction (Month/Day/Year)
03/18/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Shares	03/18/2026		S		10,428	D	$2,156.03⁽¹⁾	4,477,258	D
Common Shares	03/19/2026		S		20,000	D	$2,115⁽¹⁾	4,457,258	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. The price reported is in Argentine pesos.

	/s/Marcos Slipakoff as Attorney-in-Fact for Eduardo Sergio Elsztain	03/19/2026
	** 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)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transactions did Eduardo S. Elsztain report for IRSA (IRS)?

Eduardo S. Elsztain reported selling common shares of IRSA in two open-market transactions. He sold 20,000 shares on March 19, 2026, and 10,428 shares on March 18, 2026, according to the Form 4 filing data.

How many IRSA (IRS) shares did Eduardo S. Elsztain sell and at what prices?

He sold a total of 30,428 common shares of IRSA. The March 19, 2026 sale was 20,000 shares at 2,115 per share, and the March 18, 2026 sale was 10,428 shares at 2,156.03 per share, with prices reported in Argentine pesos.

How many IRSA (IRS) shares does Eduardo S. Elsztain hold after these sales?

After the reported transactions, Eduardo S. Elsztain directly holds 4,457,258 common shares of IRSA. This post-transaction balance suggests the sales were relatively small compared with his remaining ownership stake in the company.

Were Eduardo S. Elsztain’s IRSA (IRS) transactions open-market sales?

Yes. Both transactions are coded as “S” and described as open-market or private sales of common shares. This indicates discretionary selling activity rather than grants, option exercises, gifts, or tax-related withholdings, based on the Form 4 transaction details.

In what currency were the IRSA (IRS) insider sale prices reported?

The sale prices for Eduardo S. Elsztain’s IRSA transactions are reported in Argentine pesos. A footnote to the Form 4 explicitly states that the prices disclosed for the common share sales are denominated in Argentine pesos rather than another currency.