Nicholas Daniel - 28 Feb 2023 Form 4 Insider Report for ETSY INC (ETSY)

Role
Chief Product Officer
Signature
/s/ Brittany Keen, as Attorney-in-Fact for Nicholas Daniel
Issuer symbol
ETSY
Transactions as of
28 Feb 2023
Net transactions value
$0
Form type
4
Filing time
02 Mar 2023, 15:33:18 UTC
Previous filing
17 Feb 2023
Next filing
17 Mar 2023
SEC
View on sec.gov

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction ETSY Performance Stock Unit Award $0 +1,762 $0.000000 1,762 28 Feb 2023 Common Stock 1,762 Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The Reporting Person has irrevocably elected to satisfy all withholding tax due upon the delivery of shares by authorizing Etsy, Inc. to withhold a sufficient amount of shares to satisfy such tax obligation.
F2 Units correspond 1-for-1 with common stock.
F3 Represents the number of shares earned under a performance-based restricted stock unit award (the "PSU") based on the Issuer's satisfaction of certain performance criteria of the award. In light of the performance-based vesting conditions of the award, such shares were not reportable under Section 16 until performance conditions were certified by the Compensation Committee as achieved (which occurred on February 28, 2023). The earned shares will vest as to 1/3 of the earned shares on each of April 1, 2023, 2024 and 2025 and have no expiration date. In addition, the PSUs being reported herein represent one-third of the total number of shares subject to the performance award. The remaining shares subject to the performance award will vest only upon the satisfaction of additional performance vesting criteria. Each PSU represents the contingent right to receive one share of common stock of the Issuer.