Butcher Patrick 4

What Happened

• Patrick Butcher, a director of Endava plc (DAVA), had restricted share units (RSUs) convert into 1,212 Class A ordinary shares on March 31, 2026. Following the conversion, 554 of those shares were sold in an open-market transaction on April 1, 2026 at $4.43 each, generating $2,454 in proceeds. The filing shows the derivative conversion at $0 (typical for RSU settlements rather than an option exercise).

Key Details

• Transaction dates: conversion/vesting 2026-03-31; open-market sale 2026-04-01.
• Sale price/proceeds: 554 shares sold at $4.43/share for $2,454 total.
• Conversion: 1,212 RSUs converted to 1,212 ordinary shares on 3/31 (derivative conversion).
• Shares owned after transaction: Not disclosed in the Form 4.
• Notable footnotes:
  • F1: Class A ordinary shares may be represented by ADSs (1 ADS = 1 ordinary share).
  • F2: Each RSU = right to one Class A ordinary share (or cash at issuer's option).
  • F3: The 554-share sale was to cover statutory tax withholding in connection with RSU vesting.
  • F4: The RSUs vest in two equal installments (March 31, 2026 and June 30, 2026).
• Filing timeliness: Form filed 2026-04-02 for transactions on 3/31 and 4/1; no late-filing flag noted in the report.

Context

• This was a conversion/settlement of RSUs, not a market purchase; the subsequent sale appears to be a routine, tax-withholding sale (common on RSU vesting) rather than a directional bet on the stock.
• The zero exercise price reflects RSU settlement mechanics (no option strike).