# EDGAR Filing Document

**Accession Number:** 0001370637
**File Stem:** 0001370637-26-000054
**Filing Date:** 2026-5
**Character Count:** 10893
**Document Hash:** a3e401082d5382080b5f00283404e99d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001370637-26-000054.hdr.sgml**: 20260528

**ACCESSION NUMBER**: 0001370637-26-000054

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20260521

**ITEM INFORMATION**: Entry into a Material Definitive Agreement

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260528

**DATE AS OF CHANGE**: 20260528

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ETSY INC
- **CENTRAL INDEX KEY:** 0001370637
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-BUSINESS SERVICES, NEC [7389]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-36911
- **FILM NUMBER:** 261036211

**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

?xml version='1.0' encoding='ASCII'? etsy-20260521

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

_____________________________________

FORM 8-K

_____________________________________

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of**

**the Securities Exchange Act of 1934**

**Date of Report (Date of earliest event reported): May 21, 2026**

![Etsy Logo.jpg](etsy-20260521_g1.jpg)

ETSY, INC.

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

_____________________________________

---

| | | |
|:---|:---|:---|
| **Delaware** | **001-36911** | **20-4898921** |
| **(State or other jurisdiction<br>of incorporation)** | **(Commission<br>File Number)** | **(IRS Employer<br>Identification No.)** |

---

**117 Adams Street** 

**Brooklyn, New York 11201** 

**(Address of principal executive offices, including zip code)**

**(718) 880-3660** 

**(Registrant's telephone number, including area code)**

**N/A**

**(Former name or former address, if changed since last report)**

_____________________________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of each exchange on which registered** |
| Common Stock, $0.001 par value per share | ETSY | New York Stock Exchange |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

&nbsp;&nbsp;&nbsp;&nbsp;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 13(a) of the Exchange Act. □

------

**Item 1.01. Entry into a Material Definitive Agreement.**

On May 21, 2026, Etsy, Inc., a Delaware corporation ("Etsy"), entered into a letter agreement (the "Letter Agreement") with eBay Inc., a Delaware corporation ("Purchaser"), in connection with the previously announced Sale and Purchase Agreement, dated as of February 15, 2026 (the "Purchase Agreement"), between Etsy and Purchaser, pursuant to which Purchaser agreed to acquire all of the outstanding equity interests of Depop Limited ("Depop"), a wholly-owned subsidiary of Etsy, from Etsy (the "Transaction").

As announced on April 29, 2026, the parties expect the Transaction to close by the end of the third quarter of 2026, rather than the prior expectation of the second quarter of 2026.

As previously disclosed, the purchase price of approximately $1.2 billion will be adjusted, up to a specified cap, for certain investments Etsy and Depop may, in their sole discretion, make in the Depop business prior to the closing of the Transaction, along with certain other adjustments specified in the Purchase Agreement. The Purchase Agreement provides that Purchaser will be required to pay Etsy a termination fee of $90 million if the Purchase Agreement is terminated as a result of a failure to achieve certain regulatory clearances. The Purchase Agreement provides further that, upon certain termination events, Purchaser will be required to pay Etsy an additional termination fee of $70 million.

In light of the duration of the pre-closing period for the Transaction, the Letter Agreement is intended to enable Etsy and Depop to make continued investments, in their sole discretion, to maintain the competitiveness of the Depop business. The Letter Agreement provides that, if the Purchase Agreement is validly terminated (other than as a result of a willful breach by Etsy of certain of its obligations under the Purchase Agreement or Etsy's fraud), Purchaser will pay Etsy an additional fee in an amount that depends on the date of such termination, ranging from $0 if such termination occurs on or before June 15, 2026 to $136 million if such termination occurs after July 31, 2026.

The foregoing description of the Letter Agreement is not complete and is qualified in its entirety by reference to the full text of the Letter Agreement, which is attached hereto as Exhibit 2.1 and is incorporated herein by reference.

**Item 9.01. Financial Statements and Exhibits.**

(d) Exhibits

---

| | |
|:---|:---|
| **<u>Exhibit No.</u>** | **<u>Description</u>** |
| <u>[2.1](ex2120260521.htm)</u> | <u>[Letter Agreement, dated May 21, 2026, by and between Etsy, Inc. and eBay](ex2120260521.htm)[Inc.](ex2120260521.htm)</u> |
| 104 | Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document |

---

------

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

**ETSY, INC.**

By: <u>/s/ Colin Stretch</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Colin Stretch

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chief Legal Officer

Dated: May 28, 2026

## Exhibit 2.1

**Exhibit 2.1**

**LETTER AGREEMENT**

This LETTER AGREEMENT (this "***Letter Agreement***"), dated as of May 21, 2026, is entered into by and between eBay Inc., a Delaware corporation ("***Buyer***"), and Etsy, Inc., a Delaware corporation ("***Seller***" and together with Buyer, the "***Parties***"). Terms used but not defined herein shall have the meanings ascribed thereto in the Sale and Purchase Agreement, dated as of February 15, 2026, between the Parties, as amended (the "***SPA***").

WHEREAS, the Parties acknowledge that, due to the ongoing regulatory approval process, the Pre-Closing Period is longer than anticipated by the Parties,

WHEREAS, the Parties also acknowledge that the Company is facing strong competitive pressure in several countries, and

WHEREAS, on account of such prolonged Pre-Closing Period and urgent commercial pressure in the US and Australia, Buyer has agreed to pay to Seller a fee, in the amount and under the conditions set forth below.

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereby agree as follows:

1. If the SPA is validly terminated pursuant to Article X of the SPA (other than by Buyer (i) pursuant to Section 10.1(e) of the SPA with respect to a Willful Breach by Seller of any of its obligations under Sections 6.2, 6.4 or 6.5 or Exhibit F of the SPA or (ii) as a result of Seller's Fraud), Buyer shall pay a fee (the "***Business Disruption Fee***"), in the amount set forth in the table below opposite the applicable date on which such termination occurs, to Seller by wire transfer in immediately available funds within two Business Days following such termination, without prejudice to any other payments that become payable pursuant to the terms of the SPA.

---

| | |
|:---|:---|
| **If the termination occurs:** | **Business Disruption Fee Amount** |
| On or before June 15, 2026 | $0 |
| After June 15, 2026, but on or before June 30, 2026 | $34000000 |
| After June 30, 2026, but on or before July 15, 2026 | $68000000 |
| After July 15, 2026, but on or before July 31, 2026,  | $102000000 |
| After July 31, 2026 | $136000000 |

---

&nbsp;&nbsp;&nbsp;&nbsp;For the avoidance of doubt (i) in no event shall the amount of the Business Disruption Fee payable hereunder exceed $136,000,000 and (ii) no Business Disruption Fee shall be payable if the Closing occurs.

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

------

2. Notwithstanding Section 1, if the SPA is validly terminated by Buyer (i) pursuant to Section 10.1(e) of the SPA with respect to a Willful Breach by Seller of any of its obligations under Sections 6.2, 6.4 or 6.5 or Exhibit F of the SPA or (ii) as a result of Seller's Fraud, no Business Disruption Fee shall become payable.

3. No interest shall accrue on any payment hereunder.

4. This Letter Agreement shall automatically terminate and be of no further force and effect upon the earliest to occur of (1) the Closing, (2) the payment of the Business Disruption Fee pursuant to Section 1 and (3) the occurrence of the termination of the SPA specified in Section 2.

5. The provisions of Article XI (Miscellaneous) of the SPA shall apply *mutatis mutandis* to this Letter Agreement.

[SIGNATURE PAGE FOLLOWS]

------

IN WITNESS WHEREOF, the parties hereto have caused this Letter Agreement to be duly executed and delivered as of the day and year first above written.

**BUYER**:

EBAY INC.

By: <u>/s/ Jamie Iannone_______</u><br>Name: Jamie Iannone<br>Title: President, Chief Executive Officer

**SELLER**:

ETSY, INC.

By:______________________________<br>Name:<br>Title:

------

IN WITNESS WHEREOF, the parties hereto have caused this Letter Agreement to be duly executed and delivered as of the day and year first above written.

**BUYER**:

EBAY INC.

By:______________________________<br>Name: <br>Title:

**SELLER**:

ETSY, INC.

By: <u>/s/ Lanny Baker________</u><br>Name: Lanny Baker<br>Title: Chief Financial Officer

<br>