Fernando Adrian Elsztain, a director of Cresud Inc (NASDAQ:CRESY), filed a Form 4 on September 14, 2026, disclosing the sale of 100,000 common shares across two transactions on September 9 and September 10, 2026.

Key Highlights

  • First sale: 35,000 common shares were disposed of on September 9, 2026, at a reported price of $1.19 per share.
  • Second sale: 65,000 common shares were disposed of on September 10, 2026, at a reported price of $1.25 per share.
  • Remaining ownership: Following both transactions, Elsztain directly held 515,736 common shares.
  • Currency conversion: The $1.19 price reflects Argentine Pesos (ARS) 1,887.57 per ordinary share, converted at an implied rate of 1,587.25 ARS per 1.00 USD; the $1.25 price reflects ARS 1,986.92 per ordinary share, converted at 1,594.77 ARS per 1.00 USD.
  • Exchange basis: Each implied exchange rate was derived from the closing price of the issuer's American Depositary Shares on the NYSE relative to the closing price of the underlying ordinary shares on the Bolsas y Mercados Argentinos (BYMA), adjusted for a ratio of 10 ordinary shares per 1 ADS.
  • Reporting person role: Elsztain is identified in the filing as a Director of Cresud Inc.

Elsztain's Share Disposals on the Buenos Aires Market

According to the filing, Fernando Adrian Elsztain sold a combined 100,000 common shares of Cresud Inc over two consecutive trading days. On September 9, 2026, he disposed of 35,000 shares, reducing his directly held position from 615,736 to 580,736 shares. On September 10, 2026, he disposed of a further 65,000 shares, bringing his directly held total to 515,736 shares. Both transactions carry transaction code "S," indicating open-market sales, and both are reported as direct ownership.

The filing explains that the reported U.S. dollar prices are conversions from Argentine Pesos. For the September 9 transaction, the shares were sold at ARS 1,887.57 per ordinary share, converted at an implied rate of 1,587.25 ARS per 1.00 USD to produce the reported price of $1.19. For the September 10 transaction, the shares were sold at ARS 1,986.92 per ordinary share, converted at 1,594.77 ARS per 1.00 USD, yielding a reported price of $1.25. The filing notes that these implied rates are derived from the closing price of the issuer's ADS on the NYSE relative to the ordinary share closing price on the BYMA, using a ratio of 10 ordinary shares per 1 ADS.

The Form 4 was signed on September 14, 2026, by Amalia Cristina Sternheim by power of attorney for Fernando Adrian Elsztain. No derivative securities transactions were reported in the filing.

What Was Disclosed

The filing reported two open-market sales of Cresud Inc common shares by director Fernando Adrian Elsztain totaling 100,000 shares between September 9 and September 10, 2026, with a resulting direct beneficial ownership of 515,736 shares.