Form 4: DocuSign Executive Sells 14,800 Shares Under 10b5-1 Plan

A DocuSign executive, Robert Chatwani, sold 14,800 shares of common stock at an average price of $97.76, under a pre-arranged 10b5-1 trading plan.

Summary

• Robert Chatwani, President and General Manager of Growth at DocuSign, sold 14,800 shares of DocuSign common stock on December 18, 2024.
• The sale was executed under a pre-arranged Rule 10b5-1 trading plan.
• The shares were sold at prices ranging from $97.51 to $98.10, with an average price of $97.76.
• Following the transaction, Mr. Chatwani beneficially owns 73,414 shares of DocuSign stock.

Sentiment

Score: 5

Explanation: The document is a routine disclosure of an executive stock sale under a pre-arranged plan, which is neither positive nor negative for the company's outlook.

Industry Context

Executive stock sales are a common occurrence and are often part of pre-planned trading strategies. This transaction is not unusual and is in line with standard practices for executives at publicly traded companies.

Comparison to Industry Standards

• Executive stock sales are a common practice across the tech industry, with many executives using 10b5-1 plans to manage their personal finances and avoid accusations of insider trading.
• Comparable companies such as Adobe, Salesforce, and Microsoft also see regular Form 4 filings from their executives.
• The volume of shares sold and the price range are within typical parameters for such transactions.

Stakeholder Impact

• The stock sale may have a minor impact on the stock price, but it is unlikely to be significant given the pre-planned nature of the transaction.

Key Dates

Keywords

DocuSign, insider trading, stock sale, Form 4, Robert Chatwani, Rule 10b5-1, executive transaction