Form 4: Doximity Director Timothy Cabral Executes Stock Option and Sells Shares Under 10b5-1 Plan

Director Timothy Cabral exercised stock options and sold Doximity shares under a pre-arranged Rule 10b5-1 trading plan.

Summary

• On November 1, 2024, Timothy Cabral, a director of Doximity, Inc. (DOCS), exercised a stock option to acquire 20,000 shares of Class A Common Stock.
• Simultaneously, Cabral converted 20,000 shares of Class B Common Stock into Class A Common Stock.
• Cabral also sold 20,000 shares of Class A Common Stock at a weighted-average price of $42.0653 per share, with prices ranging from $41.7600 to $42.3700.
• These transactions were executed under a Rule 10b5-1 trading plan adopted on February 15, 2024.
• Following these transactions, Cabral directly owns 11,074 shares of Class A Common Stock and 451,000 shares of Class B Common Stock.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the transactions are part of a pre-planned trading strategy and do not necessarily indicate a change in the director's confidence in the company.

Industry Context

Form 4 filings are standard disclosures required by the SEC when company insiders (officers, directors, or those holding more than 10% of the company's shares) buy or sell the company's securities. These filings provide transparency into insider transactions and are closely watched by investors for signals about a company's prospects.

Stakeholder Impact

• The sale of shares by a director could be perceived negatively by some shareholders, but the existence of a 10b5-1 plan mitigates this concern.

Key Dates