Form 4: Doximity Director Regina Benjamin Granted 3,221 RSUs

Doximity Director Regina M. Benjamin was granted 3,221 Restricted Stock Units as part of the company's non-employee director compensation policy, effective August 28, 2025.

Summary

• Regina M. Benjamin, a Director of Doximity, Inc. (DOCS), was granted 3,221 Restricted Stock Units (RSUs).
• The grant date for these RSUs is August 28, 2025, as part of a transaction made pursuant to a Rule 10b5-1(c) plan.
• These RSUs vest in full on the earlier of the first anniversary of the grant date or the Issuer's next annual meeting of stockholders, contingent on continued service.
• Following this transaction, Ms. Benjamin beneficially owns 19,839 shares of Class A Common Stock directly.
• Each RSU represents a contingent right to receive one share of Class A Common Stock.

Sentiment

Score: 7

Explanation: The filing reports a standard equity grant to a director, which is a positive for aligning interests but does not indicate significant new operational or financial news. The transaction is pre-planned under a 10b5-1 plan, making it a routine event.

Positives

• The grant of Restricted Stock Units to a director aligns their interests with long-term shareholder value.
• The vesting schedule encourages continued service and commitment from the director.

Risks

• The value of the granted Restricted Stock Units is contingent on Doximity's future stock price performance.

Future Outlook

The 3,221 Restricted Stock Units granted to Director Regina M. Benjamin are scheduled to vest in full on the earlier of August 28, 2026 (the first anniversary of the grant date) or the Issuer's next annual meeting of stockholders, subject to her continued service as a director.

Industry Context

Equity grants to non-employee directors are a standard practice across industries, particularly in technology and healthcare, to align director incentives with shareholder interests and retain experienced board members. Doximity, as a digital health platform, follows this common corporate governance practice.

Comparison to Industry Standards

• The grant of RSUs to non-employee directors is a common compensation practice, comparable to companies like Teladoc Health (TDOC) or Veeva Systems (VEEV) which also utilize equity-based compensation to incentivize directors.
• The vesting schedule, tied to continued service and either an anniversary or the next annual meeting, is a standard mechanism to ensure director commitment, similar to practices observed in many S&P 500 companies.

Corporate Governance

Stakeholder Impact

• Shareholders: Positive, as director incentives are aligned with long-term stock performance, encouraging decisions that benefit equity value.
• Employees: No direct impact mentioned in this filing.
• Customers: No direct impact mentioned in this filing.
• Suppliers: No direct impact mentioned in this filing.
• Creditors: No direct impact mentioned in this filing.

Next Steps

• The 3,221 RSUs will vest on the earlier of August 28, 2026, or the date of Doximity's next annual meeting of stockholders, provided Regina M. Benjamin continues her service as a director.

Key Dates

Recommendation

This Form 4 reports a routine equity grant to an existing director, which is a standard corporate governance practice to align interests. It does not provide new information that would fundamentally alter the investment thesis for Doximity, hence a 'hold' recommendation is appropriate based solely on this filing.

Keywords

Doximity, DOCS, Regina Benjamin, Restricted Stock Units, RSU, Director Compensation, Insider Transaction, Equity Grant, 10b5-1 Plan