BURNS M MICHELE 4

What Happened
Michele Burns, a non-employee director of Etsy, exercised/converted 4,733 derivative units and the filing shows a corresponding disposition/conversion of those 4,733 derivative units. In the same filing she was granted/received 3,921 shares as an award. All transactions are reported at $0 per share (no cash paid or price reported).

Key Details

• Transaction date: June 9, 2026. Filing date: June 11, 2026 (filed timely).
• Reported transactions:
  • M (exercise/conversion of derivative): 4,733 shares acquired @ $0.00
  • M (conversion/disposition of derivative): 4,733 shares disposed @ $0.00 (derivative)
  • A (grant/award): 3,921 shares acquired @ $0.00 (derivative)
• Shares owned after the transactions: not disclosed in the provided filing.
• Footnotes:
  • F1: Units correspond 1-for-1 with common stock.
  • F2: 100% of this award vested on June 9, 2026.
  • F3: The award is part of the annual retainer for non-employee directors (typically vests at the next annual meeting; here F2 notes it vested on 6/9/2026).
• Transaction codes: M = exercise/conversion of derivative; A = award/grant.

Context
The filing combines a derivative exercise/conversion (with a matching conversion/disposition of the same amount) and an award grant that vested 100% on the same date. These are compensation-related moves (director retainer and derivative exercise/conversion) rather than open-market purchases or voluntary sales by the insider, so they generally reflect routine grant/exercise activity rather than a direct market sentiment signal.