Form 4: Elastic N.V. Chief Technology Officer Sells Shares to Cover Tax Obligations

Shay Banon, Chief Technology Officer of Elastic N.V., sold 1,322 ordinary shares to cover tax obligations related to vesting restricted stock units.

Summary

• On March 12, 2024, Shay Banon, the Chief Technology Officer of Elastic N.V., sold 1,322 ordinary shares of the company.
• The shares were sold at a price of $106.23 per share.
• The sale was executed to satisfy tax obligations related to the vesting of restricted stock units, as mandated by Elastic N.V.'s equity incentive plan.
• Following the transaction, Banon directly owns 4,518,714 ordinary shares.
• Banon also indirectly owns 3,354,978 ordinary shares through a fund for joint account owned by his three minor children, over which he retains sole control.

Sentiment

Score: 5

Explanation: Neutral sentiment as the filing reflects a routine transaction for tax purposes and doesn't indicate a change in the executive's long-term outlook on the company.

Industry Context

This is a routine Form 4 filing, reflecting an insider's stock sale to cover tax obligations, a common practice among executives with equity compensation.

Stakeholder Impact

• The sale of shares by an executive could have a minor impact on shareholder sentiment, but is unlikely to be significant given the reason for the sale.

Key Dates