Silverman Josh 4

What Happened
Josh Silverman, Executive Chair of Etsy (ETSY), exercised 21,666 shares of stock options and sold the same 21,666 shares on Feb 2, 2026. He paid $10.62 per share to exercise (cost ≈ $230,093) and sold the shares in open-market transactions for total gross proceeds of about $1,153,830 (sales reported as 21,467 shares at a weighted average $53.25 = $1,143,118 and 199 shares at $53.83 = $10,712). The filing indicates these transactions were executed under a Rule 10b5-1 trading plan.

Key Details

• Transaction date: 2026-02-02.
• Exercise: 21,666 shares at $10.62 each — reported acquisition value ≈ $230,093.
• Sales: 21,467 shares at weighted avg $53.25 (range $52.665–$53.64 per footnote) and 199 shares at $53.83 — total proceeds ≈ $1,153,830.
• The number of shares acquired by exercise equals the number sold the same day — effectively a cashless exercise + immediate sale.
• Footnotes of note:
  • F1: Trades executed pursuant to a Rule 10b5-1 plan adopted Nov 5, 2024.
  • F2: Reported sale price is a weighted average; individual trade prices ranged $52.665–$53.64 (breakdown available on request).
  • F3–F6: Certain shares are held by trusts (GST Trust, Non-GST Trust, GRAT, 2019 Trust); Silverman disclaims beneficial ownership for those trust-held shares as stated.
  • F7: Notes vesting schedule for related stock options.
• Filing timeliness: marked as late (transactionTimeliness = 'L') in the filing.

Context
This was an option exercise followed by immediate open-market sales (commonly described as a cashless exercise). Sales executed under a pre-established 10b5-1 plan are typically scheduled in advance and are routine; they are not, by themselves, a definitive signal of the insider’s view on the company. The filing does not disclose post-transaction beneficial ownership totals in the data provided here.