Stephen Shute - Jul 7, 2023 Form 4 Insider Report for DOCUSIGN, INC. (DOCU)

Role: President, Field Operations
Signature: /s/ Lisa Yun, Attorney-in-fact
Stock symbol: DOCU
Transactions as of: Jul 7, 2023
Transactions value $: $0
Form type: 4
Date filed: 7/11/2023, 05:28 PM
Previous filing: Jul 10, 2023
Next filing: Sep 19, 2023

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	DOCU	Restricted Stock Units	Award	$0	+78.7K		$0.00	78.7K	Jul 7, 2023	Common Stock	78.7K		Direct	F1, F2, F3
transaction	DOCU	Restricted Stock Units	Award	$0	+39.4K		$0.00	39.4K	Jul 7, 2023	Common Stock	39.4K		Direct	F4, F5
transaction	DOCU	Performance Stock Units	Award	$0	+19.7K		$0.00	19.7K	Jul 7, 2023	Common Stock	19.7K		Direct	F4, F6
transaction	DOCU	Performance Stock Units	Award	$0	+19.7K		$0.00	19.7K	Jul 7, 2023	Common Stock	19.7K		Direct	F4, F7

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock.
F2	The RSUs will vest in equal quarterly installments over four years, with a vesting commencement date of May 10, 2023, in each case subject to the reporting person being a service provider through such date.
F3	The RSUs do not expire; they either vest or are canceled prior to vesting date.
F4	Each performance-vested restricted stock unit ("PSU") represents a contingent right to receive one share of Issuer common stock.
F5	The PSUs will vest depending on the Company's total shareholder return ("TSR") over a three-year performance period, relative to companies in the Nasdaq Composite Index, subject to continued service limited exceptions. The maximum number of TSR-based PSUs that may vest is capped at 200% of the target TSR-based PSUs.
F6	The PSUs will vest depending on the Company's subscription revenue for the twelve-month period ended January 31, 2024 (the "One-Year Performance Period"). The maximum number of subscription revenue-based PSUs that may vest is capped at 200% of the target number of subscription revenue-based PSUs. To the extent achieved, 1/3 of any achieved subscription revenue-based PSUs will vest following the one-year anniversary of the date of grant and the balance will vest in eight equal quarterly installments thereafter, subject to continued service with certain limited exceptions.
F7	The PSUs will vest depending on the Company's free cash flow for the One-Year Performance Period. The maximum number of free cash flow-based PSUs that may vest is capped at 200% of the target number of free cash-flow based PSUs. To the extent achieved 1/3 of any achieved free cash-based PSUs will vest following the one-year anniversary of the date of grant and the balance will vest in eight equal quarterly installments thereafter subject to continued service with certain limited exceptions.