Elastic (ESTC) CTO Banon Shay Sells Shares

What Happened Banon Shay, Chief Technology Officer and Director of Elastic N.V. (ESTC), sold a total of 161,787 ordinary shares in open-market transactions on Sept. 9–10, 2026, for aggregate proceeds of $14,035,853. Individual reported lots: 6,577 @ $87.78 ($577,329); 127,892 @ $86.5511 (weighted avg, $11,069,053); 14,991 @ $88.0774 (weighted avg, $1,320,407); 6,126 @ $88.2797 (weighted avg, $540,803); 6,101 @ $85.1560 (weighted avg, $519,561); and 100 @ $87.00 ($8,700). All transactions are sales (S).

Key Details

• Dates: 2026-09-09 and 2026-09-10. Filing date: 2026-09-11 (no late filing indicated).
• Prices: several weighted-average prices reported with ranges per footnotes:
  • 127,892 shares weighted avg $86.5511 (range $86.17–$87.1278).
  • 14,991 shares weighted avg $88.0774 (range $87.18–$88.17).
  • 6,126 shares weighted avg $88.2797 (range $88.18–$88.455).
  • 6,101 shares weighted avg $85.1560 (range $85.00–$85.5831).
  • Individual lots: 6,577 @ $87.78 and 100 @ $87.00.
• Shares owned after the transaction: not specified in the provided filing excerpt.
• Footnotes:
  • F1: These sales were "sell-to-cover" transactions mandated by Elastic’s equity plan to satisfy tax withholding obligations tied to RSU and performance-RSU vesting — not discretionary trades by the reporting person.
  • F2–F5: Weighted-average prices and price ranges for multi-trade lots; the reporting person can provide detailed per-trade pricing on request.
  • F6: Notes certain shares are held in a fund for the reporting person’s minor children, for which the reporting person retains sole control and indirect beneficial ownership.

Context These transactions are described as sell-to-cover sales to satisfy tax withholding from RSU vesting, a routine administrative transaction rather than an open discretionary sale signal. For retail investors, such mandated sales are common following equity vesting and do not necessarily indicate the insider’s view on the company’s prospects.