Form 4: DocuSign's Chief Legal Officer Reports Stock Transactions
SEC Form 4 Filing
James P. Shaughnessy, DocuSign's Chief Legal Officer, reports the vesting and disposal of shares to cover tax obligations.
Summary
- On March 15, 2025, James P. Shaughnessy, the Chief Legal Officer of DocuSign, reported transactions involving DocuSign's common stock and restricted stock units (RSUs) and performance stock units (PSUs).
- He acquired 14,873 shares of common stock through the vesting of RSUs and PSUs.
- He disposed of 5,279 shares to satisfy tax obligations related to the vesting of these units.
- Following these transactions, Shaughnessy directly owns 53,375 shares of DocuSign common stock.
- He also holds 21,957 RSUs that vest over time, contingent on continued service.
- Additionally, he holds 17,590 RSUs that vest quarterly over four years from July 10, 2022.
- He also holds 19,685 RSUs that vest quarterly over four years from May 10, 2023.
- He also holds 43,812 RSUs that vest quarterly over four years from May 10, 2024.
- He also holds 2,678 PSUs that vest depending on the Company's subscription revenue for the twelve-month period ended January 31, 2024.
- He also holds 7,292 PSUs that vest depending on the Company's free cash flow for the twelve-month period ended January 31, 2024.
Sentiment
Score: 5
Explanation: This is a neutral filing reflecting routine stock transactions by an executive. It doesn't inherently indicate positive or negative sentiment about the company's performance.
Positives
- The vesting of RSUs and PSUs indicates that performance metrics or time-based conditions have been met, which could be seen as a positive sign.
Industry Context
Form 4 filings are a routine part of insider trading regulations, providing transparency into the transactions of company executives. This filing is typical for executives receiving stock-based compensation.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders, as they primarily reflect the executive's management of their equity compensation.
Key Dates
| Date | Description |
|---|---|
| June 10, 2022 | Vesting commencement date for some RSUs. |
| July 10, 2022 | Vesting commencement date for some RSUs. |
| January 31, 2024 | End of the One-Year Performance Period for PSUs based on subscription revenue and free cash flow. |
| May 10, 2023 | Vesting commencement date for some RSUs. |
| May 10, 2024 | Vesting commencement date for some RSUs. |
| March 15, 2025 | Date of the reported transactions. |
| March 18, 2025 | Date of signature on the Form 4 filing. |
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