POLITI SANTO 4

What Happened

• Santo Politi, a director of eToro Group Ltd. (ETOR), reported several transactions dated 2026-05-14 and filed on 2026-05-18. The only open-market sale was 2,892 shares sold at a weighted average price of $41.04 for proceeds of approximately $118,676.
• The filing also shows large disposals to the issuer of 1,779,504 shares and 11,640 shares reported at $0.00, and an acquisition (code J) of 2,892 shares at $0.00 on the same date. Footnotes indicate these $0.00 entries reflect distributions in kind by Spark Capital funds and related transfers, not typical cash sales by the reporting person.

Key Details

• Transaction date(s): 2026-05-14; Form 4 filed: 2026-05-18 (timely within the SEC’s 2-business-day window).
• Open-market sale: 2,892 shares @ $41.04 (weighted avg) — proceeds ≈ $118,676. (Footnote F4: price is a weighted average.)
• Distributions/transfers: 1,779,504 shares and 11,640 shares reported as dispositions to issuer @ $0.00 (Footnote F1: distribution in kind by Spark Capital funds; reporting person no longer has pecuniary or voting/dispositive power over those securities).
• Acquisition (code J): 2,892 shares @ $0.00 (likely a distribution in kind) followed by immediate sale of 2,892 shares in the open market the same day.
• Shares owned after transaction: not specified in the filing.
• Relevant footnotes:
  • F1/F2: Distributions in kind by Spark Capital II, L.P. and Spark Capital Founders' Fund II; Politi disclaims beneficial ownership except to extent of pecuniary interest.
  • F3: Shares received by Spark Capital Partners, LLC in distribution; possible shared power via GP relationship.
  • F4: Weighted average price; full price/quantity breakdown available on request.

Context

• The open-market sale of 2,892 shares for ~$118.7K is a straightforward insider sale. By contrast, the large $0.00 disposals are fund-related distributions/transfers and appear to reflect changes in holdings at Spark Capital entities rather than a personal cash sale by the director.
• Distributions in kind and institutional transfers do not necessarily indicate the director’s personal trading intent or market sentiment. The filing is timely and factual; no 10b5-1 plan or tax-withholding note was disclosed.