Druskin Ben 4

What Happened

• Ben Druskin, a director of Endava plc (DAVA), had 1,212 restricted share units (RSUs) convert to Class A ordinary shares (reported as an option/derivative conversion, code M) on March 31, 2026.
• Following the conversion, 486 shares were sold in an open-market transaction on April 1, 2026 at $4.43 per share for total proceeds of $2,153. The filing shows a derivative-related disposition of 1,212 shares at $0 associated with the conversion/vesting.

Key Details

• Transaction dates and types:
  • 2026-03-31: Conversion/exercise of derivative (RSU vesting) — 1,212 shares (code M).
  • 2026-04-01: Open-market sale — 486 shares at $4.43 each; proceeds $2,153 (code S).
  • 2026-03-31: Derivative disposition recorded — 1,212 shares at $0 (code M).
• Shares owned after the transaction: not specified in this Form 4.
• Relevant footnotes:
  • F1: Class A ordinary shares may be represented by American Depositary Shares (1 ADS = 1 ordinary share).
  • F2: Each RSU represents a contingent right to one Class A ordinary share (or cash, at issuer’s option).
  • F3: The 486 shares sold represent the shares required to be sold to cover statutory tax withholding on vesting.
  • F4: The RSUs vested (or will vest) in two equal installments on March 31, 2026 and June 30, 2026.
• Filing timeliness: the filing does not indicate a late filing.

Context

• This was a routine vesting and tax-covering sale, not a market-timed purchase. The RSUs vested (converted into shares) and a portion was sold to satisfy withholding taxes — a common “cashless” or tax-withholding practice. Such sales to cover taxes are procedural and do not necessarily signal the insider’s view of the company’s stock.