[Form 4] Asana, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Asana, Inc. (ASAN) director and >10% owner Dustin A. Moskovitz reported purchases of 122,470 shares of Class A common stock on 08/21/2025 at a weighted average price of $13.5213 per share under a Rule 10b5-1 trading plan adopted 09/05/2024. The filing discloses the purchase price range was $13.25 to $13.65 and that the shares are held of record by the Dustin A. Moskovitz Trust dated 12/27/2005. The Form 4 was executed by an attorney-in-fact on 08/25/2025.

Positive

• Insider purchase disclosed: Director and >10% owner acquired 122,470 shares on 08/21/2025
• Executed under a Rule 10b5-1 plan: Trading plan adopted 09/05/2024 reduces timing concerns
• Transparent pricing: Weighted average price $13.5213 and disclosed range $13.25–$13.65
• Clear record ownership: Shares held of record by the Dustin A. Moskovitz Trust dated 12/27/2005

Negative

• None.

Insights

Securities Analyst

TL;DR Insider purchases of 122,470 shares at a $13.52 weighted average under a 10b5-1 plan is a neutral-to-positive signal about insider allocation.

The transaction is explicitly executed under a pre-established Rule 10b5-1 trading plan, which reduces concerns about opportunistic timing. The weighted average purchase price and disclosed per-share range provide transparency on execution costs. As a single periodic purchase by a major shareholder and director, the trade is noteworthy but not by itself material to ASAN’s valuation absent context on total holdings or upcoming corporate events.

Corporate Governance Expert

TL;DR A director and >10% owner reporting purchases via a documented 10b5-1 plan demonstrates governance compliance and orderly insider trading.

The filing identifies the reporting person, relationship to the issuer, and the trust holding record title, satisfying disclosure norms. Use of an attorney-in-fact signature is standard. The clear footnote on price ranges and willingness to provide detailed execution data aligns with strong disclosure practices. This is a governance-positive disclosure though not a standalone material corporate development.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Moskovitz Dustin A.

(Last) (First) (Middle)

C/O ASANA, INC.

633 FOLSOM STREET, SUITE 100

(Street)

SAN FRANCISCO CA 94107

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Asana, Inc. [ ASAN ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
08/21/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	08/21/2025		P(1)		122,470	A	$13.5213(2)	57,898,436	D
Class A Common Stock								4,147,046	I	See footnote(3)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The purchases reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan, adopted September 5, 2024.

2. The reported price in Column 4 is a weighted average purchase price. These shares were purchased in multiple transactions at prices ranging from $13.25 to $13.65 per share. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

3. The shares are held of record by Dustin A. Moskovitz TTEE Dustin A. Moskovitz Trust DTD 12/27/05.

Remarks:

	/s/ Katie Colendich, Attorney-in-Fact	08/25/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider transaction did Dustin A. Moskovitz report for ASAN?

The Form 4 reports purchases of 122,470 Class A shares on 08/21/2025 by Dustin A. Moskovitz.

At what price were the ASAN shares purchased by the insider?

The weighted average purchase price was $13.5213 per share, with individual trades ranging from $13.25 to $13.65.

Was the ASAN purchase part of a Rule 10b5-1 plan?

Yes. The filing states the purchases were effected pursuant to a Rule 10b5-1 trading plan adopted on 09/05/2024.

How are the purchased ASAN shares held of record?

The shares are held of record by Dustin A. Moskovitz TTEE Dustin A. Moskovitz Trust DTD 12/27/05.

Who signed the Form 4 for this ASAN filing?

The Form 4 is signed by Katie Colendich, Attorney-in-Fact and dated 08/25/2025.