Form 4: Doximity Director Regina Benjamin Receives RSU Grant

Doximity, Inc. Director Regina M. Benjamin was granted 31,064 restricted stock units, vesting quarterly over 2.5 years.

Summary

• Regina M. Benjamin, a Director of Doximity, Inc. (DOCS), received a grant of 31,064 Restricted Stock Units (RSUs).
• The grant occurred on November 15, 2025, under the Doximity, Inc. 2021 Stock Option and Incentive Plan.
• These RSUs will vest in 10 equal quarterly installments after November 15, 2025, contingent on her continued service to the company.
• Each RSU represents a contingent right to receive one share of Doximity's Class A Common Stock.
• Following this transaction, Benjamin beneficially owns a total of 50,903 shares of Class A Common Stock.

Sentiment

Score: 7

Explanation: A standard equity grant to a director is generally positive as it aligns interests and incentivizes long-term commitment, but it's a routine event rather than a significant catalyst.

Positives

• The grant of 31,064 Restricted Stock Units (RSUs) to a director aligns their interests with long-term shareholder value.
• The vesting schedule over 10 equal quarterly installments encourages continued service and commitment from the director over a 2.5-year period.

Future Outlook

The vesting schedule of the RSUs indicates a future commitment from the director to Doximity, Inc. for at least 2.5 years, aligning their incentives with the company's long-term performance.

Industry Context

Equity grants like Restricted Stock Units are a common form of executive and director compensation in the technology and healthcare technology sectors, aiming to retain talent and align interests with long-term company performance.

Comparison to Industry Standards

• The grant of RSUs to a director is a standard practice for public companies, particularly in the tech sector, to incentivize long-term commitment and performance.
• Companies like Teladoc Health (TDOC) or Amwell (AMWL) often utilize similar equity compensation structures for their board members to foster alignment with shareholder interests.

Stakeholder Impact

• Shareholders: Positive, as the director's interests are further aligned with long-term stock performance through equity ownership and a vesting schedule.

Next Steps

• Continued service of Regina M. Benjamin to Doximity, Inc. to meet vesting conditions.
• Quarterly vesting of RSUs over 10 installments after November 15, 2025.

Key Dates

Recommendation

This Form 4 reports a routine equity grant to an existing director, which is a standard compensation practice aimed at aligning management and director interests with long-term shareholder value. It does not present new information that would fundamentally alter the investment thesis for Doximity, Inc., thus a 'hold' recommendation is appropriate based solely on this filing.

Keywords

Doximity, DOCS, Regina Benjamin, Restricted Stock Units, RSU, Director Compensation, Equity Grant, Insider Transaction, Form 4