Boardroom Alpha
Start trial
10-K primary document
ETSY · Annual Report (Form 10-K) · Filed February 19, 2026

Etsy Inc — 10-K exhibit

ex1011112312025.htm
Etsy Inc on Boardroom Alpha
Document


Exhibit 10.11.1
August 29, 2025
Rafe Colburn
(delivered via DocuSign)

Dear Rafe:

We are pleased to confirm your role change effective September 8, 2025 (the “Effective Date”) to the position of Chief Technology and Product Officer (“CPTO”) of Etsy, Inc. (“Etsy”). You will report to Kruti Goyal, President, Chief Growth Officer, and you will be assigned to work from Etsy’s Brooklyn, NY office. Your base pay will be $500,000 per year, paid in accordance with Etsy’s normal payroll practices, and you will continue to be eligible for the benefits that Etsy provides to full-time employees.

You will continue to participate in Etsy’s Management Cash Incentive Plan. Your target annual bonus will remain 80% of your base salary earned during the performance period, which currently follows a calendar year (January 1 to December 31) cycle, with a bonus structure as follows: 70% of the bonus target will be based on Etsy performance, while 30% of the bonus target will be based on individual performance. Your participation is subject to the terms and conditions of the Management Cash Incentive Plan (MCIP) and the applicable participation notice. Generally, awards (if any) are paid within two and a half months after the end of a calendar year.

There will be no change to your previously issued equity awards, which will continue to vest according to the terms and conditions stated within your award agreements.

You will continue to participate in the Etsy, Inc. Executive Severance Plan (Amended and Restated, effective as of April 23, 2025) (the “Executive Severance Plan”). The Executive Severance Plan and your participation notice will govern and control your eligibility for severance benefits in all respects.

You understand and acknowledge that all other terms and conditions of your employment, including but not limited to those in your Proprietary Information and Inventions Agreement (PIIA) you signed on October 24, 2011, will remain unchanged. You understand that you will continue to be an at-will employee of Etsy with the right to terminate your employment at any time and for any reason, and that Etsy will have the same right.


We are excited that you are taking on this new opportunity and continuing your career at Etsy.

Congratulations and best of luck!


Very truly yours,
etsy-20251231_25.jpg
Toni Thompson
Chief Human Resources Officer
Etsy, Inc.


…………………………………………………………………………………………………

I have read and accept the details of the offer:

Name: Rafe Colburn

Signature: /s/ Rafe Colburn

Date: 08/29/2025

Disclaimer

The opinions and information contained herein have been obtained or derived from sources believed to be reliable, but Boardroom Alpha cannot guarantee its accuracy and completeness, and that of the opinions based thereon.

This report contains opinions and is provided for informational purposes only – it does not constitute investment, legal or tax advice. You should not rely solely upon the research herein for purposes of transacting securities or other investments, and you are encouraged to conduct your own research and due diligence, and to seek the advice of a qualified securities professional before you make any investment.

None of the information contained in this report constitutes, or is intended to constitute a recommendation by Boardroom Alpha of any particular security or trading strategy or a determination by Boardroom Alpha that any security or trading strategy is suitable for any specific person. To the extent any of the information contained herein may be deemed to be investment advice, such information is impersonal and not tailored to the investment needs of any specific person.

No representation or warranty, expressed or implied, is made on behalf of Boardroom Alpha as to the accuracy or completeness of the information contained herein. Boardroom Alpha does not accept any liability for any direct, indirect or consequential loss or damage suffered by any person as a result of relying on all or any part of this research and any liability is expressly disclaimed.

Full disclaimer