Stephen Shute - 17 Jun 2024 Form 4 Insider Report for DOCUSIGN, INC. (DOCU)

Footnote 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.

Footnote F2

Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock.

Footnote F3

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.

Footnote F4

The RSUs do not expire; they either vest or are canceled prior to vesting date.

Footnote F5

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.

Footnote F6

Each performance-vested restricted stock unit ("PSU") represents a contingent right to receive one share of the Issuer's common stock.

Footnote F7

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.

Footnote F8

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.