Druskin Ben 4

What Happened

• Ben Druskin, a director of Endava plc (DAVA), had 1,212 restricted share units (RSUs) convert to 1,212 Class A Ordinary Shares on June 30, 2026. Of those, 244 shares were sold in an open-market transaction to cover statutory tax withholding, generating $705. The remaining 968 shares were retained.
• The RSU conversion is reported as an exercise/conversion of a derivative (transaction code M) with no cash exercise price; the sale is reported under transaction code S.

Key Details

• Transaction date: June 30, 2026. Form 4 filed July 2, 2026.
• Shares vested/converted: 1,212 RSUs → 1,212 Class A Ordinary Shares (F5).
• Shares sold: 244 shares at a weighted average price of $2.89 (range $2.87–$2.89) for total proceeds reported as $705 (F4, F3).
• Shares retained from this vesting: 968 shares (1,212 − 244). The filing does not provide the insider’s total holdings after this transaction beyond the shares resulting from the vesting.
• Footnotes: F2 explains RSUs convert to one Class A Ordinary Share (or cash at issuer’s option); F3 confirms the 244 shares were sold to cover tax withholding; F1 notes Class A shares may be represented by ADSs.

Context

• This was a routine vesting and sell-to-cover for taxes rather than an open-market purchase; the conversion had no exercise cost (cashless conversion of RSUs).
• Reported sale proceeds are small ($705) and tied to withholding obligations, which is common and not necessarily an indication of the director’s market view.