Form 4: Elastic N.V. Executive Sells Shares to Cover Tax Obligations

Elastic N.V.'s Chief Technology Officer, Shay Banon, sold shares to cover tax obligations related to vesting restricted stock units.

Summary

• On March 10, 2025, Shay Banon, the Chief Technology Officer of Elastic N.V., sold 2,683 ordinary shares at a price of $90.78 per share.
• The sale was mandated by Elastic N.V.'s equity incentive plan to cover tax obligations associated with the vesting of restricted stock units.
• Following the transaction, Banon directly owns 4,535,456 ordinary shares.
• Banon also indirectly owns 2,254,978 ordinary shares through a fund for joint account owned by his three minor children, over which he retains sole control.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction (sell to cover taxes) and doesn't inherently indicate positive or negative sentiment. It's a neutral event.

Industry Context

Executive stock sales are a common occurrence, often related to tax obligations or diversification strategies. The 'sell to cover' mechanism is a standard practice in equity compensation plans.

Stakeholder Impact

• The sale of shares by a high-ranking executive could have a minor impact on shareholder confidence, although the stated reason (tax obligations) mitigates potential concerns.

Key Dates