Banon Shay 4

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.