$ESTC · Elastic N.V.
Elastic N.V. CTO Shay Banon reported 10 separate open-market sales totaling 284,285 shares at prices ranging from $92.39 to $95.06, generating $26,628,993.81 in proceeds. The transactions were not executed under a 10b5-1 trading plan. Post-sale, Banon retains 4,156,557 shares.
- Total proceeds: $26,628,993.81 across 284,285 shares sold
- No 10b5-1 plan was used — sales were discretionary
- Largest single block: 108,052 shares at $94.40 ($10.2M)
- Weighted average price across all 10 trades: approximately $93.67
- Banon retains 4,156,557 shares post-sale
ESTC fell 3.69% in the regular session to $88.42, underperforming the filing-time price of $89.90. The $26.6M cluster sale by the CTO without a 10b5-1 plan may add downward pressure in after-hours.
A co-founder/CTO selling $26.6M in discretionary, non-10b5-1 trades is a high-signal insider event that often precedes further selling or reflects internal caution.
Insider selling at enterprise software firms often draws scrutiny when executed outside 10b5-1 plans, particularly by founder-CTOs. Elastic competes in the observability/search space against Splunk, Datadog, and Grafana.
Discretionary sales by a co-founder/CTO without a 10b5-1 plan can signal reduced confidence in near-term valuation or business trajectory.
Get filings like this before the market reacts.
Real-time SEC filing alerts, AI summaries, and a free daily digest — plus portfolio tracking that ties filings to your positions.