Stephen Shute - 15 Sep 2023 Form 4 Insider Report for DOCUSIGN, INC. (DOCU)

Role
President, Field Operations
Signature
/s/ Lisa Yun, Attorney-in-fact
Issuer symbol
DOCU
Transactions as of
15 Sep 2023
Net transactions value
-$591,997
Form type
4
Filing time
19 Sep 2023, 17:49:21 UTC
Previous filing
11 Jul 2023
Next filing
19 Dec 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction DOCU Common Stock Options Exercise $0 +29,350 $0.000000 29,350 15 Sep 2023 Direct
transaction DOCU Common Stock Tax liability $0 -13,004 -44% $0.000000 16,346 15 Sep 2023 Direct F1
transaction DOCU Common Stock Sale $591,997 -13,606 -83% $43.51 2,740 19 Sep 2023 Direct F2, F3

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 Options Exercise $0 -24,429 -8.3% $0.000000 268,724 15 Sep 2023 Common Stock 24,429 Direct F4, F5, F6
transaction DOCU Restricted Stock Units Options Exercise $0 -4,921 -6.2% $0.000000 73,819 15 Sep 2023 Common Stock 4,921 Direct F4, F6, F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 Represents shares withheld by the Issuer to satisfy a tax obligation realized by the Reporting Person upon the vesting and settlement of restricted stock units.
F2 The transaction was effected pursuant to a Rule 10b5-1 plan adopted by the Reporting Person.
F3 The shares were sold at prices ranging from $43.20 to $43.76. The Reporting Person will provide upon request to the SEC, the Issuer or security holder of the Issuer, full information regarding the number of shares sold at each separate price
F4 Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock.
F5 The RSUs will vest 25% over the first year, while the remaining will vest in twelve (12) equal quarterly installments over three years, with a vesting commencement date of May 10, 2022, in each case subject to the Reporting Person being a service provider through each such date. The restricted stock units are subject to accelerated vesting in the event of a termination of employment of the Reporting Person including under certain circumstances following a change in control of the Issuer.
F6 The RSUs do not expire; they either vest or are canceled prior to vesting date.
F7 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.