Form 4: DocuSign Director's Planned Stock Sale and RSU Vesting

DocuSign Director Teresa Briggs executed a planned sale of 365 common shares and acquired 729 shares through RSU vesting, increasing her total direct ownership.

Summary

• Teresa Briggs, a Director of DocuSign, Inc. (DOCU), reported changes in her beneficial ownership of company securities.
• On November 28, 2025, Briggs sold 365 shares of DocuSign Common Stock at a price of $69.19 per share.
• This sale was conducted pursuant to a Rule 10b5-1 plan, indicating a pre-scheduled transaction.
• Following the sale, Briggs directly owned 8,805 shares of Common Stock.
• On November 29, 2025, 729 Restricted Stock Units (RSUs) vested, resulting in the acquisition of 729 shares of Common Stock.
• Each RSU represents a contingent right to receive one share of the Issuer's common stock.
• After the RSU vesting and acquisition, Briggs directly owned 9,534 shares of Common Stock.
• Additionally, Briggs beneficially owned 1,458 derivative securities (RSUs) following the reported transactions.
• The RSUs have a vest commencement date of May 29, 2025, and vest in equal quarterly installments over one year, with the final installment vesting on the earlier of the next annual meeting or the one-year anniversary of the grant, subject to continued service.

Sentiment

Score: 5

Explanation: The filing reports routine, pre-planned insider transactions (a sale under a 10b5-1 plan and RSU vesting). The net effect is an increase in direct ownership, which is mildly positive, but the overall nature of the filing is neutral as it doesn't convey new strategic or financial performance information.

Positives

• The Director's overall direct beneficial ownership of common stock increased by 364 shares (729 acquired 365 sold) following these transactions, which can be viewed as a positive signal of continued alignment with shareholder interests.

Negatives

• A Director selling shares, even if pre-planned, could be perceived negatively by some investors, though the Rule 10b5-1 plan mitigates concerns about opportunistic timing.

Future Outlook

The filing details a pre-scheduled vesting of Restricted Stock Units (RSUs) which will continue in equal quarterly installments over one year from the May 29, 2025 vest commencement date, subject to the reporting person's continued service.

Industry Context

This Form 4 filing is a routine disclosure of insider transactions and does not provide broader industry context or competitive analysis. It reflects standard compensation and equity management practices for a director at a publicly traded technology company like DocuSign.

Corporate Governance

Stakeholder Impact

• Shareholders: The net increase in the director's direct ownership could be seen as a minor positive signal of alignment, while the planned sale is a routine event.
• Employees: No direct impact on employees is indicated by this filing.

Next Steps

• Future quarterly installments of the remaining 1,458 Restricted Stock Units will vest, with the fourth installment vesting on the earlier of the Company's next annual meeting of stockholders or the one-year anniversary of the grant.

Key Dates

Keywords

DocuSign, DOCU, Insider Transaction, Form 4, Stock Sale, RSU Vesting, Beneficial Ownership, Director, Rule 10b5-1 Plan