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Etsy director just disposed of 6,266,708 shares

James Breyer, a director of Etsy, recently disposed of 6,266,708 shares of the company. The disposals took place at $0.00 per share, on April 11, 2016. Breyer now owns just 3,008,881 shares of the company. Breyer operates out of Palo Alto, CA. Some additional info was provided as follows:

Represents pro rata distributions, and not a purchase or sale of securities, by Accel X L.P. ("A10"), Accel X Strategic Partners L.P. ("A10SP"), Accel Investors 2008 L.L.C. ("AI2008"), Accel Growth Fund II L.P. ("AGF"), Accel Growth Fund II Strategic Partners L.P. ("AGFSP"), Accel Growth Fund Investors 2012 L.L.C. ("AGFI2012"), Accel London II L.P. ("ALIIP"), and Accel London Investors 2008 L.P. ("ALI2008") to their respective general and limited partners or members without consider ation. Distribution transactions were executed pursuant to a plan established in compliance with the requirements of Rule 10b5-1. Accel X Associates L.L.C. ("A10A") is the General Partner of A10 and A10SP and has the sole voting and investment power over the shares held directly by A10 and A10SP. The Reporting Person, Andrew G. Braccia, Kevin J. Efrusy, Sameer K. Gandhi, Ping Li, Tracy L. Sedlock and Richard P. Wong are the managing members of A10A and, therefore, may be deemed to share voting and investment power with regard to the shares held directly by A10 and A10SP. Each of such individuals disclaims beneficial ownership of such securities except to the extent of his or her pecuniary interest therein, if any. The inclusion of these securities in this...