Moskovitz Adds 87,755 ASAN Shares, Boosts Stake to 51.5M

Rhea-AI Filing Summary

Asana (NYSE:ASAN) filed a Form 4 revealing that CEO, President & Chair Dustin Moskovitz executed two open-market purchases of Class A shares on 06/25-26/2025 under a Rule 10b5-1 plan.

• Shares acquired: 30,563 at $12.9984 and 57,192 at $12.9514, totaling 87,755 shares.
• Cash outlay: ≈$1.14 million.
• Ownership: Direct stake increases to 51,486,191 shares; an additional 4,147,046 shares are held indirectly via trust.
• Transactions coded “P”; no shares were sold.

The pre-scheduled purchases reduce available float and may indicate insider confidence, yet size is modest relative to his >55 million-share position. No other material disclosures.

Positive

• CEO & 10% owner Dustin Moskovitz purchased 87,755 Class A shares for ≈$1.14 million, boosting direct stake to 51.5 million and signaling insider confidence.

Negative

• None.

Insights

Portfolio Manager

$1.1 M cash buy modestly tightens float; sentiment tilt positive.

Open-market purchases by the founder‐CEO carry signaling value because real capital is committed at prevailing prices rather than via option exercise. Adding 87,755 shares lifts direct ownership past 51.5 M, marginally reducing supply. Although the buy represents only ~0.17 % of his stake, it still crosses the $1 M materiality threshold and occurs during a narrow trading range, implying valuation support near $13. The 10b5-1 plan, adopted 09/05/24, slightly mutes discretionary intent, yet executives set these plans voluntarily, so the action remains a constructive indicator. With no offsetting sales, the filing offers a modestly bullish data point for investors tracking insider sentiment.

Risk Analyst

Plan-driven trade limits predictive power; impact largely neutral.

Because the purchases were executed under a pre-arranged Rule 10b5-1 program, they do not necessarily reflect current non-public insights. The dollar amount—about $1.14 M—is substantial but only a fraction of Moskovitz’s >55 M-share exposure, so portfolio risk, voting control, and liquidity dynamics remain effectively unchanged. No derivatives or dispositions were disclosed, and the filing offers no new operational or financial information. As a result, the transaction provides a mildly positive sentiment cue but does not alter the company’s fundamental risk profile.

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).

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
X	Officer (give title below)		Other (specify below)
	President, CEO, & Chair

3. Date of Earliest Transaction (Month/Day/Year)
06/25/2025

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	06/25/2025		P(1)		30,563	A	$12.9984(2)	51,428,999	D
Class A Common Stock	06/26/2025		P(1)		57,192	A	$12.9514(3)	51,486,191	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 $12.985 to $13.00 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 $12.82 to $13.00 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	06/27/2025
	** 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 CEO Dustin Moskovitz buy on June 25-26, 2025?

He purchased a total of 87,755 Class A shares—30,563 on 06/25 and 57,192 on 06/26.

What prices did Moskovitz pay for the newly acquired ASAN shares?

Weighted-average prices were $12.9984 on 06/25 and $12.9514 on 06/26.

What is Moskovitz's total direct ownership in ASAN after the purchase?

His direct stake rose to 51,486,191 Class A shares.

Were these ASAN trades executed under a 10b5-1 plan?

Yes. The filing states the purchases were made under a Rule 10b5-1 trading plan adopted on September 5, 2024.

Did Moskovitz sell any ASAN shares in this Form 4 filing?

No. All transactions were coded "P" for purchases; no dispositions were reported.

How many ASAN shares does Moskovitz hold indirectly through his trust?

He holds 4,147,046 shares indirectly via the Dustin A. Moskovitz Trust DTD 12/27/05.