ASAN Insider Buys 449K Shares Under 10b5-1 Plan; Holdings Rise to 57.3M

Rhea-AI Filing Summary

Dustin A. Moskovitz, a director and reported 10% owner of Asana, Inc. (ASAN), executed purchases of Class A common stock under a Rule 10b5-1 plan. On 08/15/2025 he bought 224,235 shares at a weighted average price of $13.9833, after which his reported direct beneficial ownership was 57,104,000 shares. On 08/18/2025 he bought 225,000 shares at a weighted average price of $14.1184, after which his reported direct beneficial ownership was 57,329,000 shares. The filings state these purchases were effected pursuant to a 10b5-1 plan adopted September 5, 2024. Separately, 4,147,046 Class A shares are held indirectly in the Dustin A. Moskovitz Trust dated 12/27/05.

Positive

• Insider purchases executed totaling 449,235 Class A shares (224,235 on 08/15/2025 and 225,000 on 08/18/2025).
• Transactions executed under a Rule 10b5-1 plan, adopted 09/05/2024, providing procedural transparency.
• Reporting person remains a large shareholder with reported direct holdings increasing to 57,329,000 shares and an indirect trust holding of 4,147,046 shares.

Negative

• None.

Insights

Financial Analyst

TL;DR: Insider purchases under a pre-established 10b5-1 plan increased direct holdings by 449,235 shares at ~$14 per share.

The transactions indicate the reporting person added 224,235 shares on 08/15/2025 at a weighted average of $13.9833 and 225,000 shares on 08/18/2025 at $14.1184, executed pursuant to a 10b5-1 plan adopted 09/05/2024. These purchases are routine for insiders using planned trading arrangements and do not by themselves reveal new, material company developments. The filings report large existing direct holdings (57.1M to 57.3M shares) and an indirect trust holding of 4.147M shares, confirming continued significant ownership alignment with public shareholders.

Corporate Governance Expert

TL;DR: Director and 10% owner executed planned purchases; disclosure follows Section 16 reporting requirements.

Form 4 shows the purchases were made pursuant to a Rule 10b5-1 trading plan, which provides an affirmative defense for trades made under a pre-established schedule. The filing includes weighted average prices and a statement that the filer will provide breakdowns on request, meeting disclosure norms. The signature by an attorney-in-fact and inclusion of the trust ownership note provide standard corporate governance transparency.

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)
08/15/2025

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	08/15/2025		P(1)		224,235	A	$13.9833(2)	57,104,000	D
Class A Common Stock	08/18/2025		P(1)		225,000	A	$14.1184(3)	57,329,000	D
Class A Common Stock								4,147,046	I	See footnote(4)

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 $13.79 to $14.19 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 reported price in Column 4 is a weighted average purchase price. These shares were purchased in multiple transactions at prices ranging from $13.95 to $14.23 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.

4. 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	08/19/2025
	** 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 trades did Dustin Moskovitz report for ASAN on the Form 4?

He reported purchases of 224,235 shares on 08/15/2025 at a weighted average price of $13.9833 and 225,000 shares on 08/18/2025 at a weighted average price of $14.1184.

Were these ASAN trades part of a planned trading program?

Yes. The Form 4 states the purchases were effected pursuant to a Rule 10b5-1 trading plan adopted on 09/05/2024.

How many ASAN shares does Moskovitz beneficially own according to this filing?

The filing reports direct beneficial ownership of 57,104,000 shares after the 08/15 purchase and 57,329,000 shares after the 08/18 purchase, plus 4,147,046 shares held indirectly by his trust.

Does the filing provide per-transaction prices for each trade?

No. The filing provides weighted average prices and price ranges: $13.79–$14.19 for the 08/15 purchases and $13.95–$14.23 for the 08/18 purchases, with the filer offering to provide breakdowns on request.

Who signed the Form 4 and when was it filed?

The Form 4 is signed by Katie Colendich, Attorney-in-Fact for Dustin A. Moskovitz and shows the signature date 08/19/2025.