Form 4: DocuSign Chief Legal Officer Reports Stock Transactions
SEC Form 4 Filing
DocuSign's Chief Legal Officer, James P. Shaughnessy, reported the vesting and tax withholding of restricted stock units and performance stock units.
Summary
- James P. Shaughnessy, Chief Legal Officer of DocuSign, filed a Form 4 detailing changes in his beneficial ownership of company stock.
- The transactions include the vesting of 14,875 restricted stock units (RSUs) and performance stock units (PSUs).
- A total of 6,895 shares were withheld by DocuSign to cover tax obligations related to the vesting of these units.
- The reported transactions resulted in a decrease in direct holdings of common stock from 58,176 to 51,281 shares.
- The vesting of RSUs and PSUs is subject to continued service with the company and may accelerate under certain termination or change of control scenarios.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing stock transactions, which is neither positive nor negative in itself. It reflects standard executive compensation practices.
Industry Context
This filing is a routine disclosure of stock transactions by a company executive, which is common practice for publicly traded companies. It provides transparency into the ownership changes of company insiders.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies in the US, and this filing is consistent with those requirements.
- The vesting schedules for RSUs and PSUs are typical for executive compensation packages in the tech industry.
- The tax withholding of shares is a common practice to cover tax liabilities associated with vesting.
Stakeholder Impact
- The transactions have a minor impact on the overall share structure of the company.
- The vesting of equity awards is part of the executive compensation package, which is of interest to shareholders.
Key Dates
| Date | Description |
|---|---|
| 12/15/2024 | Date of the reported stock transactions. |
| 12/17/2024 | Date of the signature on the Form 4 filing. |
Keywords
DocuSign, Form 4, Stock Transactions, Restricted Stock Units, Performance Stock Units, Vesting, Chief Legal Officer, Insider Trading
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