Asana's Legal Chief Reduces Stake: What Investors Should Know

Rhea-AI Filing Summary

Eleanor B. Lacey, General Counsel and Corporate Secretary of Asana, reported two significant stock transactions:

• On June 20, 2025, sold 13,915 shares of Class A Common Stock at $13.167 per share in a sell-to-cover transaction to satisfy tax obligations related to RSU vesting
• On June 23, 2025, sold 13,760 shares at an average price of $12.9533 per share (range: $12.94-$13.05) pursuant to a Rule 10b5-1 trading plan established on March 12, 2025

Following these transactions, Lacey directly owns 559,293 shares of Asana Class A Common Stock. The second sale was executed under a pre-planned trading arrangement, demonstrating compliance with insider trading regulations. These transactions represent standard executive stock management practices for tax obligations and portfolio diversification.

Positive

• The insider sales were planned and executed under a pre-established Rule 10b5-1 trading plan adopted on March 12, 2025, indicating compliance with insider trading regulations
• One of the sales was specifically for tax obligation purposes related to RSU vesting, suggesting normal course of business rather than a negative sentiment

Negative

• Eleanor B. Lacey (GC & Corporate Secretary) sold a total of 27,675 shares over two days (June 20-23, 2025) at average prices between $12.95-$13.17
• The insider's holdings decreased from 573,053 to 559,293 shares, representing a reduction of approximately 4.8% in their position

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^*

LACEY ELEANOR B

(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)
	GC, Corporate Secretary

3. Date of Earliest Transaction (Month/Day/Year)
06/20/2025

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	06/20/2025		S		13,915(1)	D	$13.167	573,053	D
Class A Common Stock	06/23/2025		S(2)		13,760	D	$12.9533(3)	559,293	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 $12.94 to $13.05 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	06/24/2025
	** 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

How many ASAN shares did Eleanor Lacey sell on June 20, 2025?

Eleanor Lacey, Asana's General Counsel and Corporate Secretary, sold 13,915 shares of Class A Common Stock on June 20, 2025 at an average price of $13.167 per share. This sale was made to cover tax obligations related to vesting RSUs.

What was the purpose of ASAN insider Eleanor Lacey's June 20, 2025 stock sale?

The June 20, 2025 sale was executed pursuant to Asana's policy requiring a sell-to-cover transaction to satisfy certain tax obligations incurred with the vesting and settlement of Restricted Stock Units (RSUs).

How many ASAN shares does Eleanor Lacey own after her June 2025 transactions?

Following the reported transactions, Eleanor Lacey directly owns 559,293 shares of Asana Class A Common Stock. This reflects her holdings after selling 13,915 shares on June 20 and 13,760 shares on June 23, 2025.

Was ASAN insider Eleanor Lacey's June 23, 2025 stock sale part of a 10b5-1 trading plan?

Yes, the June 23, 2025 sale of 13,760 shares was executed pursuant to a Rule 10b5-1 trading plan that was adopted on March 12, 2025. The shares were sold at a weighted average price of $12.9533 per share.