Fisher Adam Ralph 4

What Happened
Adam Fisher, a director at Fiverr International Ltd., reported sales by Bessemer-affiliated funds (not direct sales by Fisher). According to the filing, Bessemer Venture Partners VII Institutional L.P., BVP VII L.P. and BVP VII Special Opportunity Fund L.P. sold a combined total of 46,147 shares on June 10, 2026 (weighted avg $10.23) and 76,690 shares on June 11, 2026 (weighted avg $9.83). That totals 122,837 Class A shares sold across the two days for roughly $1.23 million in aggregate proceeds based on the reported weighted averages. The Form 4 itself shows no direct disposals by Fisher (0 shares) because he reports only an indirect, passive pecuniary interest via the Bessemer funds.

Key Details

• Transaction dates: June 10, 2026 and June 11, 2026.
• Reported weighted-average prices: $10.23 (June 10) and $9.83 (June 11). Footnotes state sales occurred in multiple trades at prices described in the filing (range noted as $10.05–$10.37); the filer offers to provide a per-price breakdown on request.
• Total shares sold by the Bessemer funds: 122,837 shares. Estimated proceeds ≈ $1.23M (based on weighted averages).
• Shares owned after transaction: the filing shows 0 direct shares reported for Fisher; he disclaims beneficial ownership of the securities held by the Bessemer funds except to the extent of any pecuniary interest.
• Notable footnote: Fisher is a partner at Bessemer Venture Partners and states his interest is indirect/passive via partnership interests (Deer VII & Co. L.P. and other limited partnerships).
• Filing timeliness: Reported period covers June 10–11 trades and the Form 4 was filed June 12, 2026 — the filing appears timely (within the usual two-business-day window).

Context

• These sales were executed by institutional Bessemer funds, not by Fisher personally. For retail investors, institutional fund sales can reflect portfolio rebalancing or liquidity needs rather than a director’s personal view.
• Fisher’s filing emphasizes he disclaims beneficial ownership of the sold shares except for any indirect pecuniary interest; this means the report is informational about the funds’ activity rather than a direct insider trade by the director.