Josh Silverman, chief executive officer of Etsy, has filed 108 Form 4 transactions across three companies. The pattern is overwhelmingly one-sided. Open-market sales total roughly $100.7 million, against open-market purchases of about $500,000. That is a sell-to-buy ratio near 200 to 1. The recent activity, all in ETSY, shows no purchases at all. The last 12 trades are sales, option exercises, or tax withholding events.
The most recent cluster, dated October 15, 2026, shows a sale of $35,224 alongside an option exercise of $4,429. Earlier in October, sales of $56,406 and $28,342 were paired with exercises. The largest single sale in the recent window came on August 3, 2026, at $2,668,957, followed by $747,541 the same day. September 1 brought two sales totaling $957,265. The August 4 sale was $528,696. These are not small dispositions; they are regular, recurring reductions of Etsy stock.
The transaction codes clarify the mechanics. The M entries are option exercises, which are mechanical and not discretionary purchases. The F entry on October 1, valued at $1,176,949, is shares withheld to cover taxes, an automatic event. The S entries are the only discretionary component, and they are consistently sales. Across the entire filing history, Silverman has acquired no shares through open-market purchases in the recent period. The direction is clear: he has been a steady seller of ETSY stock, with the dollar volume concentrated in the late summer and early fall of 2026.
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