# EDGAR Filing Document

**Accession Number:** 0001370637
**File Stem:** 0001370637-23-000019
**Filing Date:** 2023-2
**Character Count:** 18356
**Document Hash:** f4363a602b75e6cba9ffea03e956b8e9
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001370637-23-000019.hdr.sgml**: 20230223

**ACCESSION NUMBER**: 0001370637-23-000019

**CONFORMED SUBMISSION TYPE**: S-8

**PUBLIC DOCUMENT COUNT**: 6

**FILED AS OF DATE**: 20230223

**DATE AS OF CHANGE**: 20230223

**EFFECTIVENESS DATE**: 20230223

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ETSY INC
- **CENTRAL INDEX KEY:** 0001370637
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-BUSINESS SERVICES, NEC [7389]
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** S-8
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-269931
- **FILM NUMBER:** 23656386

**BUSINESS ADDRESS:**
- **STREET 1:** 117 ADAMS STREET
- **CITY:** BROOKLYN
- **STATE:** NY
- **ZIP:** 11201
- **BUSINESS PHONE:** (718) 880-3660

**MAIL ADDRESS:**
- **STREET 1:** 117 ADAMS STREET
- **CITY:** BROOKLYN
- **STATE:** NY
- **ZIP:** 11201

**As filed with the Securities and Exchange Commission on February 23, 2023**

**Registration No. 333-**

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

FORM S-8

**REGISTRATION STATEMENT**

**UNDER**

**THE SECURITIES ACT OF 1933**

![etsy_logo.jpg](etsy_logo.jpg)

ETSY, INC.

**(Exact name of Registrant as specified in its charter)**

---

| | |
|:---|:---|
| **Delaware** | **20-4898921** |
| (State or Other Jurisdiction of<br>Incorporation or Organization) | (I.R.S. Employer<br>Identification No.) |

---

**117 Adams Street**

**Brooklyn, New York 11201**

**(718) 880-3660**

(Address, including zip code, and telephone number, including area code, of Registrant's principal executive offices)

**2015 Equity Incentive Plan**

(Full title of plan)

**Rachel Glaser**

**Chief Financial Officer**

**Etsy, Inc.**

**117 Adams Street**

**Brooklyn, New York 11201**

**(718) 880-3660**

(Name, address, including zip code, and telephone number, including area code, of agent for service)

**Please send copies of all communications to:**

Nicole Brookshire

Davis Polk & Wardwell LLP

450 Lexington Avenue

New York, New York 10017

(212) 450-4000

Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See definitions of "large accelerated filer," "accelerated filer," and "smaller reporting company" in Rule 12b-2 of the Exchange Act.

------

---

| | |
|:---|:---|
| Large accelerated filer ⌧ | Accelerated filer ◻ |
| Non-accelerated filer ◻ (Do not check if a smaller reporting company) | Smaller reporting company ◻ |
| Non-accelerated filer ◻ (Do not check if a smaller reporting company) | Emerging growth company ◻ |

---

If an emerging growth company, indicate by check mark if the Registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ◻

------

**REGISTRATION OF ADDITIONAL SHARES <br>PURSUANT TO GENERAL INSTRUCTION E**

Pursuant to General Instruction E of Form S-8, Etsy, Inc. ("Etsy") is filing this Registration Statement with the Securities and Exchange Commission (the "Commission") to register 6,252,714 additional shares of its common stock under Etsy's 2015 Equity Incentive Plan (the "Plan"), pursuant to the provisions of the Plan providing for an automatic increase in the number of shares reserved and available for issuance under the Plan on January 2, 2023. In accordance with the instructional note to Part I of Form S-8 as promulgated by the Commission, the information specified by Part I of the Form S-8 has been omitted from this Registration Statement.

**PART II**

**Information Required in the Registration Statement**

**Item 3. Incorporation of Documents by Reference.**

Etsy hereby incorporates by reference into this Registration Statement the following documents previously filed with the Commission:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the contents of the Etsy's Registration Statements on Form S-8, filed with the Commission on April 15, 2015 (<u>[File No. 333-203438](http://www.sec.gov/Archives/edgar/data/1370637/000119312515131523/d907671ds8.htm)</u>), on March 1, 2016 (<u>[File No. 333-209851](http://www.sec.gov/Archives/edgar/data/1370637/000137063716000034/forms-8.htm)</u>), on March 1, 2017 (<u>[File No. 333-216371](http://www.sec.gov/Archives/edgar/data/1370637/000137063717000021/etsy_2017forms-8.htm)</u>), on March 1, 2018 (<u>[File No. 333-223330](http://www.sec.gov/Archives/edgar/data/1370637/000137063718000021/etsy-2018formsx81.htm)</u>), on February 28, 2019 (<u>[File No. 333-229937](http://www.sec.gov/Archives/edgar/data/1370637/000137063719000031/a2019forms-8.htm)</u>), on February 27, 2020 (<u>[File No. 333-236676](http://www.sec.gov/Archives/edgar/data/1370637/000137063720000047/s-82020.htm)</u>), February 26, 2021 (<u>[File No. 333-253564](http://www.sec.gov/Archives/edgar/data/0001370637/000137063721000016/s-82021.htm)</u>) and on February 25, 2022 (<u>[File No.](http://www.sec.gov/Archives/edgar/data/1370637/000137063722000026/s-82022.htm)[333-263007](http://www.sec.gov/Archives/edgar/data/1370637/000137063722000026/s-82022.htm)</u>).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>[Etsy's Annual Report on Form 10-K for the](http://www.sec.gov/ix?doc=/Archives/edgar/data/1370637/000137063723000017/etsy-20221231.htm)[year ended December 31, 202](http://www.sec.gov/ix?doc=/Archives/edgar/data/1370637/000137063723000017/etsy-20221231.htm)[2](http://www.sec.gov/ix?doc=/Archives/edgar/data/1370637/000137063723000017/etsy-20221231.htm)[, filed with the Commission on February 2](http://www.sec.gov/ix?doc=/Archives/edgar/data/1370637/000137063723000017/etsy-20221231.htm)[2](http://www.sec.gov/ix?doc=/Archives/edgar/data/1370637/000137063723000017/etsy-20221231.htm)[, 202](http://www.sec.gov/ix?doc=/Archives/edgar/data/1370637/000137063723000017/etsy-20221231.htm)[3](http://www.sec.gov/ix?doc=/Archives/edgar/data/1370637/000137063723000017/etsy-20221231.htm)[(the "Annual Report")](http://www.sec.gov/ix?doc=/Archives/edgar/data/1370637/000137063723000017/etsy-20221231.htm)</u>;

&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) all other reports filed by Etsy pursuant to Section 13(a) or Section 15(d) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), since December 31, 2022 (other than Current Reports furnished under Item 2.02 or Item 7.01

of Form 8-K and exhibits furnished on that form that relate to such items); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>[the description of Etsy's common stock contained in Etsy's Registration Statement on Form 8-A (File No. 001-36911) filed with the Commission on April 8, 2015, including any amendments or reports filed for the purpose of updating such description, including Exhibit 4.9 to the Annual Report.](http://www.sec.gov/Archives/edgar/data/1370637/000119312515122992/d907985d8a12b.htm)</u>

All other reports and documents filed by Etsy pursuant to Section 13(a), 13(c), 14 or 15(d) of the Exchange Act after the date of this Registration Statement and prior to the filing of a post-effective amendment which indicates that all securities offered have been sold or which de-registers all securities then remaining unsold shall be deemed incorporated by reference into this Registration Statement and a part of this Registration Statement from the date of filing of these documents, except for documents or information deemed furnished and not filed in accordance with the rules of the Commission. Any statement contained in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement contained herein or in any subsequently filed document that also is deemed to be incorporated by reference herein modifies or supersedes such statement. Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.

------

**Item 8. Exhibits.**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | | **Incorporated by Reference** | **Incorporated by Reference** | **Incorporated by Reference** | **Incorporated by Reference** | |
| **Exhibit**<br>**Number** |<br>**Description** | **Form** | **File No.** | **Exhibit** | **Filing**<br>**Date** |<br>**Filed**<br>&nbsp;&nbsp;&nbsp;&nbsp;**Herewith** |
| <u>[4.1](http://www.sec.gov/Archives/edgar/data/1370637/000119312515140228/d913130dex31.htm)</u> | <u>[Amended and Restated Certificate of Incorporation](http://www.sec.gov/Archives/edgar/data/1370637/000119312515140228/d913130dex31.htm)</u> | 8-K | 001-36911 | 3.1 | 4/21/2015 |  |
| <u>[4.2](http://www.sec.gov/Archives/edgar/data/1370637/000137063722000084/a31.htm)</u> | <u>[Amended and Restated Bylaws](http://www.sec.gov/Archives/edgar/data/1370637/000137063722000084/a31.htm)</u> | 8-K | 001-36911 | 3.1 | 12/2/2022 |  |
| <u>[5.1](etsys-8dpwopinionletter.htm)</u> | <u>[Opinion of Davis Polk & Wardwell LLP](etsys-8dpwopinionletter.htm)</u>  |  |  |  |  | X |
| <u>[23.1](s-8exhibit231.htm)</u> | <u>[Consent of PricewaterhouseCoopers LLP, Independent Registered Public Accounting Firm](s-8exhibit231.htm)</u> |  |  |  |  | X |
| <u>[23.2](etsys-8dpwopinionletter.htm)</u> | <u>[Consent of Davis Polk & Wardwell LLP (contained in Exhibit 5.1)](etsys-8dpwopinionletter.htm)</u> |  |  |  |  | X |
| <u>[24.1](#i5271f14788db41f79d567b9354d30cef_4)</u> | <u>[Power of Attorney (contained in the signature page hereto)](#i5271f14788db41f79d567b9354d30cef_4)</u> |  |  |  |  | X |
| <u>[99.1](http://www.sec.gov/Archives/edgar/data/1370637/000119312515129455/d806992dex103.htm)</u> | <u>[2015 Equity Incentive Plan](http://www.sec.gov/Archives/edgar/data/1370637/000119312515129455/d806992dex103.htm)</u>  | S-1/A | 333-202497 | 10.3 | 4/14/2015 |  |
| <u>[107](exhibit107.htm)</u> | <u>[Calculation of Filing Fee Table](exhibit107.htm)</u> |  |  |  |  | X |

---

------

**SIGNATURES**

Pursuant to the requirements of the Securities Act of 1933, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of New York, State of New York, on this 23rd day of February, 2023.

ETSY, INC.

By <u>/s/ Rachel Glaser&nbsp;&nbsp;&nbsp;&nbsp;</u>

Name: Rachel Glaser

Title: Chief Financial Officer

------

**POWER OF ATTORNEY**

KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below hereby constitutes and appoints Josh Silverman and Rachel Glaser, and each of them, as his or her true and lawful attorney-in-fact and agent with full power of substitution, for him or her in any and all capacities, to sign any and all amendments to this Registration Statement on Form S-8 (including post-effective amendments), and to file the same, with all exhibits thereto and other documents in connection therewith, with the SEC, granting unto said attorney-in-fact and agent full power and authority to do and perform each and every act and thing requisite and necessary to be done in connection therewith, as fully for all intents and purposes as he or she might or could do in person, hereby ratifying and confirming all that said attorney-in-fact and agent, or his or her substitute, may lawfully do or cause to be done by virtue hereof.

Pursuant to the requirements of the Securities Act of 1933, as amended, this Registration Statement on Form S-8 has been signed by the following persons in the capacities and on the dates indicated.

------

---

| | | |
|:---|:---|:---|
| **Signature** | **Title** | **Date** |
|  | President, Chief Executive Officer, and Director<br>*(Principal Executive Officer)* |  |
| /s/ Josh Silverman | President, Chief Executive Officer, and Director<br>*(Principal Executive Officer)* | February 23, 2023 |
| Josh Silverman |  |  |
|  | Chief Financial Officer<br>*(Principal Financial Officer)* |  |
| /s/ Rachel Glaser | Chief Financial Officer<br>*(Principal Financial Officer)* | February 23, 2023 |
| Rachel Glaser |  |  |
|  | Chief Accounting Officer <br>*(Principal Accounting Officer)* |  |
| /s/ Merilee Buckley | Chief Accounting Officer <br>*(Principal Accounting Officer)* | February 23, 2023 |
| Merilee Buckley |  |  |
| /s/ Fred Wilson | Chair | February 23, 2023 |
| Fred Wilson |  |  |
| /s/ C. Andrew Ballard | Director | February 23, 2023 |
| C. Andrew Ballard |  |  |
| /s/ Marla Blow | Director | February 23, 2023 |
| Marla Blow |  |  |
| /s/ Gary S. Briggs | Director | February 23, 2023 |
| Gary S. Briggs |  |  |
| /s/ M. Michele Burns | Director | February 23, 2023 |
| M. Michele Burns |  |  |
| /s/ Jonathan D. Klein | Director | February 23, 2023 |
| Jonathan D. Klein |  |  |
| /s/ Melissa Reiff | Director | February 23, 2023 |
| Melissa Reiff |  |  |
| /s/ Margaret M. Smyth | Director | February 23, 2023 |
| Margaret M. Smyth |  |  |

---

## Ex-Filing

**Exhibit 107**

**Calculation of Filing Fee Tables**

<u>Form S-8</u>

(Form Type)

<u>Etsy, Inc.</u>

(Exact Name of Registrant as Specified in its Charter)

<u>Table 1: Newly Registered Securities</u>

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Type** | **Security Class Title** | **Fee Calculation Rule** | **Amount Registered**<sup>(1)</sup> | **Proposed Maximum Offering Price Per Unit** | **Maximum Aggregate Offering Price** | **Fee Rate** | **Amount of Registration Fee** |
| Equity | Common Stock, $0.001 par value per share | Other | 6252714<sup>(2)</sup> | $127.85<sup>(3)</sup> | $799409484.90 | $110.20 per $1,000,000 | $88095 |
| **Total Offering Amounts** | **Total Offering Amounts** | **Total Offering Amounts** | **Total Offering Amounts** |  | $799409484.90 |  | $88095 |
| **Total Fee Offsets** | **Total Fee Offsets** | **Total Fee Offsets** | **Total Fee Offsets** |  |  |  |  |
| **Net Fee Due** | **Net Fee Due** | **Net Fee Due** | **Net Fee Due** |  |  |  | $88095 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)Pursuant to Rule 416(a) under the Securities Act of 1933, as amended (the "Securities Act"), this Registration Statement shall also cover any additional shares of Registrant's common stock that become issuable under the 2015 Equity Incentive Plan (the "Plan") as a result of any stock dividend, stock split, recapitalization, or other similar transaction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)Represents shares of the Registrant's common stock added to the Plan, effective as of January 2, 2023, pursuant to the evergreen increase provision of the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)Estimated solely for the purpose of determining the registration fee pursuant to Rules 457(c) and (h) under the Securities Act, based upon the average of the high and low prices of the Registrant's common stock as quoted on the Nasdaq Global Select Market on February 21, 2023.

## Exhibit 5.1

![dwplogoa.jpg](dwplogoa.jpg)

Davis Polk & Wardwell LLP

450 Lexington Avenue

New York, NY 10017

davispolk.com

**EXHIBIT 5.1 and 23.2**

**OPINION OF DAVIS POLK & WARDWELL LLP**

February 23, 2023

Etsy, Inc. <br>117 Adams Street<br>Brooklyn, New York 11201<br>(718) 880-3660

Ladies and Gentlemen:

We have acted as special counsel to Etsy, Inc., a Delaware corporation (the "**Company**"), and are delivering this opinion in connection with the Company's Registration Statement on Form S-8 (the "**Registration Statement**") filed with the Securities and Exchange Commission pursuant to the Securities Act of 1933, as amended, for the registration of 6,252,714 shares (the "**Shares**") of the Company's common stock, $0.001 par value per share, that were added to the shares of common stock authorized for issuance pursuant to the Company's 2015 Equity Incentive Plan, as may be amended from time to time (the "**2015 EIP**").

We, as your counsel, have examined originals or copies of such documents, corporate records, certificates of public officials and other instruments as we have deemed necessary or advisable for the purpose of rendering this opinion.

In rendering the opinion expressed herein, we have, without independent inquiry or investigation, assumed that (i) all documents submitted to us as originals are authentic and complete, (ii) all documents submitted to us as copies conform to authentic, complete originals, (iii) all signatures on all documents that we reviewed are genuine, (iv) all natural persons executing documents had and have the legal capacity to do so, (v) all statements in certificates of public officials and officers of the Company that we reviewed were and are accurate and (vi) all representations made by the Company as to matters of fact in the documents that we reviewed were and are accurate.

On the basis of the foregoing, we are of the opinion that the Shares have been duly authorized and, when and to the extent issued pursuant to the 2015 EIP upon receipt by the Company of the consideration for the Shares specified therein, will be validly issued, fully paid and non-assessable.

We are members of the Bar of the State of New York and the foregoing opinion is limited to the laws of the State of New York and the General Corporation Law of the State of Delaware.<br>We hereby consent to the filing of this opinion as an exhibit to the Registration Statement.

Very truly yours, <br>/s/ Davis Polk & Wardwell LLP

## Exhibit 23.1

**Exhibit 23.1**

CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

We hereby consent to the incorporation by reference in this Registration Statement on Form S-8 of Etsy, Inc. of our report dated February 22, 2023 relating to the financial statements and the effectiveness of internal control over financial reporting, which appears in Etsy Inc.'s Annual Report on Form 10-K for the year ended December 31, 2022.

/s/ PricewaterhouseCoopers LLP<br>New York, New York <br>February 23, 2023

<br>