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  4. [Form 4] Asana, Inc. Insider Trading Activity

Asana founder boosts direct stake to 55.5m shares with new purchases

Filing Impact
(Very High)
Filing Sentiment
(Very Positive)
Form Type
4

Rhea-AI Filing Summary

Insider activity: Asana (ASAN) co-founder, Director and >10% holder Dustin A. Moskovitz purchased a total of 450,000 Class A shares on 1-Aug-2025 and 4-Aug-2025 under a pre-arranged Rule 10b5-1 trading plan adopted 5-Sep-2024.

  • Aug 1: 225,000 shares at a $14.041 weighted-average price (range $13.85-$14.60).
  • Aug 4: 225,000 shares at a $14.3833 weighted-average price (range $14.15-$14.52).

After the transactions Moskovitz holds 55,530,999 shares directly and 4,147,046 shares indirectly via trust, confirming continued insider ownership concentration.

No derivative security transactions were reported. The filing was signed 5-Aug-2025.

Positive

  • 450,000-share insider purchase worth about $6.4 m suggests continued confidence from the company’s co-founder and largest shareholder.

Negative

  • None.

Insights

TL;DR: Founder bought 450k ASAN shares at ~$14, lifting direct stake to 55.5 m; modest but positive insider signal.

Moskovitz’s purchase adds roughly $6.4 m to his exposure, taking direct ownership to ~55.5 m shares. Although executed under a Rule 10b5-1 plan, the sizable accumulation reinforces management’s long-term commitment and may bolster investor confidence amid share-price volatility. No sales or option exercises temper the bullish read-through.

TL;DR: High-percentage owner increases position, maintaining tight insider control; governance risks unchanged.

The director now controls ~59.7 m shares (direct + trust), preserving significant voting power. Purchases under a disclosed plan mitigate trading-timing concerns, and no red flags appear regarding compliance. The action is shareholder-aligned, but concentration of power remains a structural consideration.

Insider Moskovitz Dustin A.
Role Director, 10% Owner
Bought 450,000 shs ($6.40M)
Type Security Shares Price Value
Purchase Class A Common Stock 225,000 $14.3833 $3.24M
Purchase Class A Common Stock 225,000 $14.041 $3.16M
holding Class A Common Stock -- -- --
Holdings After Transaction: Class A Common Stock — 55,530,999 shares (Direct); Class A Common Stock — 4,147,046 shares (Indirect, See footnote)
Footnotes (1)
  1. The purchases reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan, adopted September 5, 2024. The reported price in Column 4 is a weighted average purchase price. These shares were purchased in multiple transactions at prices ranging from $13.85 to $14.60 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. The reported price in Column 4 is a weighted average purchase price. These shares were purchased in multiple transactions at prices ranging from $14.15 to $14.52 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. The shares are held of record by Dustin A. Moskovitz TTEE Dustin A. Moskovitz Trust DTD 12/27/05.
Form 4 Insider Transactions: What Each Field Means →
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)
08/01/2025
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 08/01/2025 P(1) 225,000 A $14.041(2) 55,305,999 D
Class A Common Stock 08/04/2025 P(1) 225,000 A $14.3833(3) 55,530,999 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 $13.85 to $14.60 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 $14.15 to $14.52 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 08/05/2025
** 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.

Source: View Original Filing on SEC EDGAR

FAQ

How many Asana (ASAN) shares did Dustin Moskovitz buy in August 2025?

He bought 450,000 Class A shares across two transactions (225k each on 1-Aug and 4-Aug-2025).

What prices did Moskovitz pay for the ASAN shares?

Weighted-average prices were $14.041 on 1-Aug and $14.3833 on 4-Aug-2025.

How many Asana shares does Moskovitz own after the purchases?

He holds 55,530,999 shares directly and 4,147,046 shares indirectly via trust.

Were the purchases under a Rule 10b5-1 plan?

Yes. The trading plan was adopted on 5-Sep-2024 and disclosed in the filing.

Did the Form 4 report any derivative transactions?

No, no derivative securities were acquired or disposed of in this filing.