Banon Shay 4
4 · Elastic N.V. · Filed Mar 10, 2026
Research Summary
AI-generated summary of this filing
Elastic (ESTC) CTO Shay Banon Sells 4,283 Shares
What Happened
Shay Banon, Chief Technology Officer and Director of Elastic N.V., sold 4,283 ordinary shares on 2026-03-09 at $52.28 per share, generating proceeds of $223,915. The Form 4 reports the sale as an open-market or private sale (code S) and notes the shares were sold to satisfy tax withholding tied to the vesting of performance-based restricted stock units and restricted stock units — a mandated "sell to cover" under the company’s equity plan, not a discretionary sale.
Key Details
- Transaction date and price: 2026-03-09, 4,283 shares at $52.28 each.
- Proceeds: $223,915.
- Transaction type: Sale (Form 4 code S); described as open market or private sale and as a required "sell to cover" for tax withholding (Footnote F1).
- Ownership after transaction: Not disclosed in the provided filing excerpt.
- Additional note (Footnote F2): Some shares are held by a fund for a joint account owned by the reporting person’s three minor children; Banon retains sole control of that fund and remains the indirect beneficial owner of those shares.
- Filing date: 2026-03-10 (filed the day after the transaction) — appears timely.
Context
"Sell to cover" transactions are routine tax-withholding sales that follow the vesting of RSUs and performance awards and do not necessarily signal a change in insider sentiment. Purchases typically convey stronger signals than these mandated sales.
Insider Transaction Report
- Sale
Ordinary Shares
[F1]2026-03-09$52.28/sh−4,283$223,915→ 4,354,945 total
- 2,054,978(indirect: By fund for joint account)
Ordinary Shares
[F2]
Footnotes (2)
- [F1]The ordinary shares were sold to satisfy the Reporting Person's tax obligations in connection with the vesting of performance-based restricted stock units and restricted stock units. The sales were mandated by the Issuer's equity incentive plan which requires the satisfaction of tax withholding obligations to be funded by a "sell to cover" transaction and does not represent a discretionary trade by the Reporting Person.
- [F2]Held by a fund for joint account (the "fund") owned by the Reporting Person's three minor children. The Reporting Person continues to have sole control of such fund and remains the indirect beneficial owner of the shares owned by such fund.