Etsy (NASDAQ: ETSY) chair Silverman sells 88,350 shares after option exercise
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
ETSY INC Executive Chair Josh Silverman exercised employee stock options for 88,350 shares of common stock at an exercise price of $10.62 per share, then sold 88,350 shares in open‑market transactions on May 1, 2026 at weighted average prices in the mid‑$60 range. The filing states these option exercises and sales were carried out under a pre‑arranged Rule 10b5-1 trading plan adopted on November 20, 2025. The report also lists indirect holdings in several family trusts, including GRAT and irrevocable trusts, with Silverman disclaiming beneficial ownership of certain trust‑held shares.
Positive
- None.
Negative
- None.
Insights
Silverman executes planned option exercise-and-sale under Rule 10b5-1.
Executive Chair Josh Silverman exercised employee stock options for 88,350 ETSY INC shares at an exercise price of $10.62 and sold the same number of shares at weighted average prices around the mid‑$60 range. This is a classic exercise‑and‑sell pattern.
The filing notes these transactions were made pursuant to a Rule 10b5-1 trading plan adopted on November 20, 2025, indicating they were pre‑scheduled rather than discretionary. That generally reduces the informational value of the timing from a sentiment perspective.
The report also details indirect holdings in multiple trusts, including GRAT and irrevocable GST and Non‑GST trusts, with explicit disclaimers of beneficial ownership for certain trusts. Overall, this looks like routine option monetization and estate‑planning structure disclosure rather than a thesis‑changing move.
Insider Trade Summary 10b5-1
Net Seller: 88,350 shares ($5,670,172)
Net Sell
9 txns
Insider
Silverman Josh
Role
null
Sold
88,350 shs ($5.67M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Employee Stock Option (Right to Buy) | 88,350 | $0.00 | -- |
| Exercise | Common Stock | 88,350 | $10.62 | $938K |
| Sale | Common Stock | 74,273 | $64.11 | $4.76M |
| Sale | Common Stock | 14,077 | $64.54 | $909K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Employee Stock Option (Right to Buy) — 554,606 shares (Direct, null);
Common Stock — 219,044 shares (Direct, null);
Common Stock — 4,942 shares (Indirect, By GST Trust)
Footnotes (1)
- This exercise and subsequent sales were made pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on November 20, 2025. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $63.39 to $64.385, 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. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $64.39 to $64.84, 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. 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. 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. These shares are held by a grantor retained annuity trust (the "GRAT"). The Reporting Person is the trustee and the beneficiary of the GRAT. 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. 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
Options exercised: 88,350 shares
Exercise price: $10.62/share
First sale block: 14,077 shares at $64.54
+4 more
7 metrics
Options exercised
88,350 shares
Employee Stock Option exercised at $10.62 on May 1, 2026
Exercise price
$10.62/share
Employee Stock Option (Right to Buy)
First sale block
14,077 shares at $64.54
Open-market sale of Etsy common stock on May 1, 2026
Second sale block
74,273 shares at $64.11
Open-market sale of Etsy common stock on May 1, 2026
Total shares sold
88,350 shares
Net sell shares per transaction summary
Option expiration
May 3, 2027
Employee Stock Option expiration date
Options remaining
554,606 options
Employee Stock Option position following transaction
Key Terms
Rule 10b5-1 trading plan, grantor retained annuity trust, Irrevocable GST Trust, Employee Stock Option (Right to Buy), +1 more
5 terms
Rule 10b5-1 trading plan regulatory
"This exercise and subsequent sales 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")."
Employee Stock Option (Right to Buy) financial
"security_title": "Employee Stock Option (Right to Buy)""
Section 16 regulatory
"beneficial owner of these securities for purposes of Section 16 or for any other purpose."
Section 16 is a U.S. securities law rule that governs the trading and disclosure obligations of company insiders — typically officers, directors and large shareholders — to promote transparency and deter unfair profit-taking. It requires insiders to publicly report their stock trades and allows companies or the issuer to reclaim quick, short-term profits from certain insider trades, like a scoreboard and a refund policy that help investors see and limit possible insider advantage.
FAQ
What did ETSY (ETSY) Executive Chair Josh Silverman do in this Form 4 filing?
Josh Silverman exercised employee stock options for 88,350 Etsy common shares at an exercise price of $10.62, then sold 88,350 shares in open‑market trades at weighted average prices in the mid‑$60 range, all under a pre‑arranged Rule 10b5-1 trading plan.
Were Josh Silverman’s ETSY stock transactions part of a Rule 10b5-1 plan?
Yes. A footnote states the option exercise and subsequent Etsy share sales were completed under a Rule 10b5-1 trading plan adopted on November 20, 2025. Such pre‑planned programs are designed to allow insiders to sell shares on a preset schedule, regardless of short‑term market conditions.
What stock options did Josh Silverman exercise in this ETSY Form 4?
The filing shows Silverman exercised an Employee Stock Option for 88,350 underlying Etsy common shares at an exercise price of $10.62 per share. A footnote explains these options were part of a grant that vested 25% on May 4, 2018, with the remainder vesting in 36 equal monthly installments.
Does the ETSY Form 4 say Josh Silverman still holds options after these transactions?
The derivative transaction table shows an Employee Stock Option position with 554,606 options following the reported exercise of 88,350 options. The expiration date for this option series is disclosed as May 3, 2027, indicating a remaining derivative position after the current exercise.