Asana Insider Files Form 4: 258,350 Shares Sold; 10b5-1 Plan Used

Rhea-AI Filing Summary

Sonalee E. Parekh, Chief Financial Officer of Asana, Inc. (ASAN), reported insider sales on September 22-23, 2025. The filings show a total of 258,350 shares sold: 194,976 shares on 09/22/2025 at a weighted average price of $14.171 in a sell-to-cover transaction to satisfy tax obligations from RSU vesting, and 63,374 shares on 09/23/2025 under a Rule 10b5-1 trading plan at a weighted average price of $14.3848 (individual sale prices ranged from $14.37 to $14.50).

Following these transactions the reporting person beneficially owned 1,076,693 shares. The Form 4 was filed by one reporting person and signed by an attorney-in-fact on behalf of the reporting person.

Positive

• Transparent disclosure of the reason for the 09/22/2025 sale (sell-to-cover for RSU taxes)
• Use of a Rule 10b5-1 trading plan for the 09/23/2025 sales, indicating prearranged transactions and governance compliance
• Timely filing and signature by an authorized attorney-in-fact recorded on the Form 4

Negative

• Total reduction in holdings: 258,350 shares were sold, decreasing beneficial ownership to 1,076,693 shares
• Sale prices were in a narrow range ($14.37–$14.50), which may reflect limited liquidity or execution during the plan period

Insights

Financial Analyst

TL;DR: Routine insider sales for tax and prearranged plan; not an earnings or operational event.

The transactions are explicitly described as a sell-to-cover for RSU tax obligations and sales executed under a Rule 10b5-1 plan. These are common liquidity events for insiders and indicate preplanned or obligation-driven disposition rather than ad-hoc selling tied to new material company information. The total shares sold were 258,350 at weighted averages near $14.18, leaving 1,076,693 shares beneficially owned after the reported sales.

Corporate Governance Expert

TL;DR: Filings reflect compliance with disclosure requirements and use of a pre-established trading plan.

The Form 4 documents transparent disclosure: the sell-to-cover transaction is tied to RSU vesting tax obligations and the subsequent sales were under a documented 10b5-1 plan adopted March 12, 2025. The signature by an attorney-in-fact is properly noted. From a governance perspective, these filings demonstrate adherence to insider trading protocols and SEC reporting rules.

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).

1. Name and Address of Reporting Person^*

Parekh Sonalee Elizabeth

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
09/22/2025

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	09/22/2025		S		194,976(1)	D	$14.171	1,140,067	D
Class A Common Stock	09/23/2025		S(2)		63,374	D	$14.3848(3)	1,076,693	D

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. This sale reported on this Form 4 was effected pursuant to the Issuer's policy requiring sell-to-cover to satisfy certain tax obligations of the Reporting Person incurred with the vesting and settlement of certain Restricted Stock Units (RSUs).

2. The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted March 12, 2025.

3. The reported price in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $14.37 to $14.50 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 sold at each separate price within the range set forth in this footnote.

Remarks:

	/s/ Katie Colendich, Attorney-in-Fact	09/24/2025
	** 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

Who filed the Form 4 for ASAN and what is their role?

Sonalee E. Parekh, Chief Financial Officer of Asana, Inc., is the reporting person named on the Form 4.

How many Asana (ASAN) shares were sold and on which dates?

258,350 shares were sold in total: 194,976 on 09/22/2025 and 63,374 on 09/23/2025.

Why were the shares sold according to the Form 4?

The 09/22/2025 sale was a sell-to-cover to satisfy tax obligations from RSU vesting; the 09/23/2025 sales were executed under a Rule 10b5-1 trading plan adopted March 12, 2025.

What were the sale prices reported on the Form 4?

The weighted average price for the 09/22/2025 sale was $14.171. The 09/23/2025 sales had a weighted average of $14.3848, with individual prices ranging from $14.37 to $14.50.

How many shares did the reporting person own after these transactions?

After the reported transactions the reporting person beneficially owned 1,076,693 shares.

Was the Form 4 filed by a single person or jointly?

The filing indicates it was filed by one reporting person.