Insider 10b5-1 Purchases Add ~449K Asana Shares; Beneficial Stake ~56M

Rhea-AI Filing Summary

Dustin A. Moskovitz, a director and reported 10% owner of Asana, purchased Class A common stock in two transactions totaling 448,905 shares under a Rule 10b5-1 trading plan adopted September 5, 2024. The filings report weighted average purchase prices of $14.4839 and $14.0998, and show beneficial ownership after the reported purchases of 55,755,999 and 55,979,904 shares, respectively. The filing also notes 4,147,046 shares are held of record by the Dustin A. Moskovitz Trust. These entries document insider purchases that increased the reporting person’s disclosed stake and specify the use of a pre-established 10b5-1 plan for execution.

Positive

• Insider purchases totaling 448,905 Class A shares, demonstrating increased insider ownership
• Trades executed under a Rule 10b5-1 trading plan, indicating preplanned transactions rather than opportunistic timing
• Weighted average purchase prices disclosed ($14.4839 and $14.0998), providing pricing transparency
• Beneficial ownership levels reported after each transaction (55,755,999 and 55,979,904 shares), clarifying stake size
• Indirect holdings disclosed (4,147,046 shares held by the Dustin A. Moskovitz Trust), improving transparency

Negative

• None.

Insights

Securities Analyst

TL;DR: Insider purchases of ~449K Class A shares at ~ $14 under a 10b5-1 plan modestly increase Moskovitz’s disclosed stake.

The reported acquisitions — 225,000 shares at a weighted average of $14.4839 and 223,905 shares at $14.0998 — were executed pursuant to a Rule 10b5-1 trading plan, which provides a prearranged framework for timing trades. After these reported trades, beneficial ownership is recorded at roughly 55.76M and 55.98M shares, confirming Moskovitz remains a very large holder. For investors, the filing is a straightforward disclosure of insider accumulation under an established plan rather than opportunistic, ad hoc buying.

Corporate Governance Expert

TL;DR: Director and 10% owner used a Rule 10b5-1 plan to add shares, a governance-friendly mechanism that limits timing discretion.

The trades are documented as plan-based purchases, which reduces questions about selective timing by an insider. The filing also clarifies indirect holdings through a trust of 4,147,046 shares, providing transparency on ownership structure. This disclosure aligns with Section 16 reporting expectations and strengthens public record of the director’s holdings and transactions.

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
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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)
08/06/2025

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	08/06/2025		P(1)		225,000	A	$14.4839(2)	55,755,999	D
Class A Common Stock	08/07/2025		P(1)		223,905	A	$14.0998(3)	55,979,904	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 $14.27 to $14.63 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 $13.84 to $14.81 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	08/08/2025
	** 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 transactions did Dustin Moskovitz report on Form 4 for ASAN?

The Form 4 reports purchases of 225,000 and 223,905 shares of Class A common stock, executed under a Rule 10b5-1 plan.

At what prices were the ASAN shares purchased by Moskovitz?

The filings show weighted average purchase prices of $14.4839 and $14.0998, with ranges of individual trade prices disclosed in the footnotes.

How many ASAN shares does Moskovitz beneficially own after the reported transactions?

The Form 4 reports beneficial ownership of 55,755,999 and 55,979,904 shares following the respective reported purchases.

Were the trades part of a pre-established trading plan?

Yes. The purchases were effected pursuant to a Rule 10b5-1 trading plan adopted on September 5, 2024.

Does Moskovitz hold any ASAN shares indirectly?

Yes. The filing discloses 4,147,046 shares held of record by the Dustin A. Moskovitz Trust.