etsy-202203220001370637false00013706372022-03-222022-03-22
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): March 22, 2022
ETSY, INC.
(Exact name of registrant as specified in its charter)
_____________________________________
| | | | | | | | | | | | | | |
| Delaware | | 001-36911 | | 20-4898921 |
(State or other jurisdiction
of incorporation) | | (Commission
File Number) | | (IRS Employer
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)
_____________________________________
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 | The Nasdaq Global Select Market |
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).
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 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On March 22, 2022, Etsy, Inc. (“Etsy” or the “Company”) announced the appointment of Raina Moskowitz, age 39, as Etsy’s Chief Operating Officer, effective March 22, 2022.
Ms. Moskowitz previously served as Etsy’s Chief Operations, Strategy and People Officer since August 2020. Prior to that, she served as Etsy’s Senior Vice President of People, Strategy and Services from April 2018. Before joining Etsy, Ms. Moskowitz spent 13 years at the American Express Company, where she held multiple leadership roles in product, strategy, operations, and marketing, most recently, leading the U.S. Customer Marketing team. Ms. Moskowitz has served on the board of directors of Sprout Social Inc. since December 2020.
Ms. Moskowitz’ service as Etsy’s Chief Operating Officer will continue to be governed by a letter agreement, dated March 5, 2018, between Etsy and Ms. Moskowitz. Pursuant to this letter agreement, Ms. Moskowitz receives a base salary and is eligible to participate in the Company’s employee benefit programs and plans, including the Company’s Management Cash Incentive Plan and the Executive Severance Plan. As part of the annual review of the compensation of Etsy’s executive team, the Compensation Committee of Etsy’s Board of Directors recently approved an annual adjustment to Ms. Moskowitz’ base salary and target bonus consistent with those made for other executive officers of Etsy, and Ms. Moskowitz was granted an annual equity award consistent with the grants to other executive officers of Etsy. There were no other changes to Ms. Moskowitz’ employment arrangements as a result of her appointment as Chief Operating Officer.
Ms. Moskowitz has no family relationships with any of the Company’s directors or executive officers, and she has no direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.
The foregoing description of Ms. Moskowitz’ letter agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the letter agreement, which was filed as Exhibit 10.1 to Etsy’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 7, 2020.
A copy of the press release announcing Ms. Moskowitz’ appointment as Chief Operating Officer has been filed as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Item 8.01.
On March 22, 2022, Etsy also announced that Kimaria Seymour will be joining Etsy as its Chief Human Resources Officer, with a start date on or about April 26, 2022. A copy of the press release announcing Ms. Seymour's appointment as Chief Human Resources Officer has been filed as Exhibit 99.1 to this Current Report on Form 8-K.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
| | | | | |
| Exhibit No. | Description |
| |
| 104 | Cover Page Interactive Data File (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: /s/ Jill Simeone
Jill Simeone
Chief Legal Officer and Corporate Secretary
Dated: March 22, 2022
Document
Etsy names Raina Moskowitz Chief Operating Officer; Expands Executive Team with the appointment of Kim Seymour as Chief Human Resources Officer
Leadership structure will help enable Etsy to scale its marketplace capabilities further and unlock additional growth opportunities
BROOKLYN, N.Y., March 22, 2022 Etsy, Inc. (NASDAQ: ETSY), which operates two-sided online marketplaces that connect millions of passionate and creative buyers and sellers around the world, announced today that Raina Moskowitz, who has been with Etsy since 2018, will take on an expanded role as Chief Operating Officer, effective immediately. In addition, the company is expanding its executive team with the addition of Kim Seymour as Chief Human Resources Officer, effective on or about April 26, 2022. Raina and Kim are both based at Etsy's Brooklyn, NY headquarters, reporting to CEO Josh Silverman.
In Raina’s expanded role, she will further define Etsy’s strategic direction and oversee global marketplace services. She will now lead two critical, revenue-driving functions – payments and fulfillment – and continue to oversee Etsy’s Member Services, Trust & Safety, Strategy & Operations, and Impact teams.
Kim comes to Etsy with more than two decades of experience in organizational design and building world-class teams, having most recently served as Chief People Officer of WW International. In this newly-created position, she will build upon Etsy’s high-performing, equitable and inclusive culture, align global talent to growth opportunities, and continue to shape how Etsy approaches the future of work. Etsy’s human resources and workplace teams will report to Kim.
Josh Silverman commented, “These exciting changes to our executive team are representative of Etsy’s significant success and scale and our conviction in our go-forward opportunities. Raina’s expanded role will help us continue to deliver world-class customer experiences and cement Etsy as a trusted brand for our global community. She has championed some of our most critical initiatives through periods of unprecedented growth and change. Her leadership style has motivated and inspired teams across the company to perform at their best.”
“I’ve known Kim for many years and have long been impressed with her ability to architect global organizations that align with business objectives while strengthening corporate culture. She is passionate about creating an engaging and rewarding workplace experience, building equitable and diverse teams, and fostering career development opportunities. I do not doubt that Kim will be an invaluable addition to my leadership team.”
Raina Moskowitz commented, “Our mission to Keep Commerce Human has remained our North Star through a period of significant growth and transformation. I am excited to bring together the teams that contribute to a truly differentiated e-commerce experience to better support our community and create meaningful new growth opportunities.”
Kim Seymour added, “It has never been more important for businesses to foster a healthy, supportive relationship with their people and an authentically inclusive work environment. I am thrilled to join this world-class team and bring new perspectives to deepen Etsy’s already strong commitments to employee equity, engagement, and support.”
About Raina Moskowitz
Raina Moskowitz is Etsy’s Chief Operating Officer. In this role, her mission is to develop and drive Etsy’s strategy, oversee global marketplace services, and unlock new growth and revenue-driving opportunities. Her team includes Strategy and Operations, Payments, Fulfillment, Member Services, Trust & Safety, and Impact. Raina joined Etsy in 2018 and, prior to becoming Chief Operating Officer, she was Chief Operations, Strategy, and People Officer.
Before Etsy, Raina led U.S. customer marketing, and held multiple leadership roles in product, strategy and marketing at American Express. She is a graduate of the Wharton School at the University of Pennsylvania. Raina has served on the board of directors of Sprout Social since 2020.
About Kim Seymour
Kim Seymour has more than two decades of experience building and scaling global teams. She has served as the Chief People Officer of WW International since April 2019. Prior to that, Kim was at American Express from March 2008 to December 2018, most recently serving as Senior Vice President and HR Business Partner. Earlier in her career she served in roles of increasing responsibility at Home Depot and General Electric in Appliances, Capital and Energy. She holds a JD from Vanderbilt University and an MBA from Indiana University. Kim also serves as an advisor to MasterClass, is a Trustee of Fisk University and has been a Director of RHR International since 2019.
About Etsy
Etsy, Inc. operates two-sided online marketplaces that connect millions of passionate and creative buyers and sellers around the world. These marketplaces share a mission to "Keep Commerce Human," and we're committed to using the power of business to strengthen communities and empower people. Our primary marketplace, Etsy.com, is the global destination for unique and creative goods. Buyers come to Etsy to be inspired and delighted by items that are crafted and curated by creative entrepreneurs. For sellers, we offer a range of tools and services that address key business needs.
Etsy, Inc.'s "House of Brands" portfolio also includes fashion resale marketplace Depop, musical instrument marketplace Reverb, and Brazil-based handmade goods marketplace Elo7. Each Etsy, Inc. marketplace operates independently, while benefiting from shared expertise in product, marketing, technology, and customer support.
Etsy was founded in 2005 and is headquartered in Brooklyn, New York.
Etsy has used, and intends to continue using, its Investor Relations website and the Etsy News Blog (blog.etsy.com/news) to disclose material non-public information and to comply with its disclosure obligations under Regulation FD. Accordingly, you should monitor our investor relations website and the Etsy News Blog in addition to following our press releases, SEC filings, and public conference calls and webcasts.
Investor Relations Contact:
Etsy, Deb Wasser, Vice President, Investor Relations & ESG Engagement
ir@etsy.com
Media Relations Contact:
Sarah Marx, Director, Corporate Communications
press@etsy.com
