Form 4: Director Juan Jose Chacon Quiros Sells ESTA Shares

Director Juan Jose Chacon Quiros sold 105,000 shares of Establishment Labs Holdings Inc. via a 10b5-1 trading plan.

Summary

• Director Juan Jose Chacon Quiros sold a total of 105,000 common shares of Establishment Labs Holdings Inc. (ESTA).
• The sales were executed on May 6, 2026, in two tranches: 93,206 shares at a weighted average price of $75.331 and 11,794 shares at a weighted average price of $76.104.
• The transactions were conducted pursuant to a Rule 10b5-1 trading plan adopted on December 16, 2025.
• This filing marks the conclusion of the sales under the specified 10b5-1 plan.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event, as the sales were pre-planned and executed under a Rule 10b5-1 trading plan, which is a standard practice for liquidity management.

Positives

• The sales were pre-planned under a Rule 10b5-1 trading plan, which is typically used to avoid concerns regarding insider trading.

Negatives

• The sale represents a significant reduction in the director's indirect holdings in the company.

Risks

• The completion of the 10b5-1 plan removes a structured selling mechanism, though the director retains significant beneficial ownership.

Future Outlook

The filing does not provide forward-looking guidance regarding company operations, as it is a disclosure of insider transaction activity.

Management Comments

• The sale was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person.
• This transaction concludes the sales under the current 10b5-1 trading plan adopted on December 16, 2025 as all shares subject to the plan have been sold.

Industry Context

StockSavvy.ai notes that insider selling via 10b5-1 plans is a standard corporate governance practice, often used by executives to diversify personal holdings without signaling negative sentiment regarding company performance.

Comparison to Industry Standards

• The use of 10b5-1 plans is the industry standard for directors and officers to execute stock sales to ensure compliance with SEC regulations.

Related Party Transactions

• The shares sold were held by Sariel Group Ltd., an entity in which the reporting person is a shareholder with voting and dispositive power.

Stakeholder Impact

• Shareholders should note the reduction in indirect beneficial ownership by a director, though the pre-planned nature of the sale mitigates potential negative sentiment.

Next Steps

• No further actions or milestones were disclosed in this filing.

Key Dates

Keywords

ESTA, Establishment Labs, Insider Trading, Form 4, Director Sale, 10b5-1