Butcher Patrick 4

What Happened

• Patrick Butcher, a director of Endava plc (DAVA), had 1,212 restricted share units (RSUs) vest on June 30, 2026. The RSUs converted into 1,212 Class A Ordinary Shares (reported as a derivative conversion). To cover statutory tax withholding, 533 of those shares were sold in the open market at a weighted-average price of $2.88, generating proceeds of $1,535. The filing also shows the RSU/derivative settlement recorded as a $0 disposition (the derivative was settled).

Key Details

• Transaction date: 2026-06-30 (vesting/conversion and sale). Form 4 filed: 2026-07-02 (appears to be within the normal 2-business-day reporting window).
• Sale details: 533 shares sold on the open market at a weighted-average price of $2.88 (prices ranged $2.87–$2.89).
• Vesting details: 1,212 RSUs vested and converted into 1,212 shares; the derivative was settled (disposed) at $0 as part of that conversion.
• Proceeds: $1,535 from the 533-share sale.
• Shares owned after transaction: Not reported in the provided filing excerpt.
• Notable footnotes: F2–F5 explain that these were RSUs (each representing one Class A share or cash at issuer option), the RSUs vested on 6/30/2026, and 533 shares were sold to cover tax withholding. F1 notes ADS representation (each ADS currently equals one ordinary share).
• Filing timeliness: Filed July 2, 2026 for a June 30 transaction — appears timely.

Context

• This was a routine RSU vesting event with a partial share sale to satisfy tax withholding (a common, non-speculative administrative action). The net increase to Butcher’s holdings equals the vested shares minus the sold-for-taxes shares (1,212 − 533 = 679 net shares received). The dollar amount involved is small ($1,535 proceeds) and does not indicate a market-positioning purchase.