[Form 4] Asana, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Dustin A. Moskovitz, a director and >10% owner of Asana, Inc. (ASAN), reported open-market purchases of Class A common stock executed pursuant to a Rule 10b5-1 trading plan adopted September 5, 2024. On 08/19/2025 he purchased 221,966 shares at a weighted-average price of $13.8534 (individual prices ranged $13.63–$14.28). On 08/20/2025 he purchased 225,000 shares at a weighted-average price of $13.6216 (range $13.48–$13.81). Following these purchases he directly beneficially owned 57,775,966 Class A shares; an additional 4,147,046 Class A shares are held indirectly in the Dustin A. Moskovitz Trust dated 12/27/05. The Form 4 was signed by an attorney-in-fact on 08/21/2025.

Positive

• Insider purchases totaling 446,966 Class A shares, indicating insider accumulation.
• Transactions executed under a Rule 10b5-1 plan adopted 09/05/2024, which provides pre-clearance and timing transparency.
• Clear disclosure of indirect trust holdings of 4,147,046 shares and updated direct beneficial ownership totals.

Negative

• None.

Insights

Financial Analyst

TL;DR: Insider purchases under a 10b5-1 plan increased direct holdings by 446,966 shares at ~ $13.74 average, signaling continued insider accumulation.

The reporting shows systematic purchases executed under a pre-established Rule 10b5-1 plan adopted 09/05/2024, minimizing concerns about opportunistic timing. The two-day purchases totaled 446,966 shares at weighted-average prices of $13.8534 and $13.6216, increasing direct beneficial ownership to 57.78 million shares. The filing discloses an indirect trust holding of 4.15 million shares, confirming substantial aggregated ownership. These are non-derivative purchases; no sales or option exercises are reported.

Corporate Governance Expert

TL;DR: Disclosure is complete for the reported transactions and identifies the 10b5-1 plan and trust holdings, meeting Section 16 transparency requirements.

The Form 4 cleanly identifies the reporting person as a director and 10% owner and provides required details: transaction dates (08/19/2025 and 08/20/2025), number of shares acquired, weighted-average prices and the 10b5-1 adoption date. The indirect ownership through the Dustin A. Moskovitz Trust is explicitly disclosed. Signature by an attorney-in-fact is included with a filing date of 08/21/2025. There are no amendments or derivative transactions disclosed.

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)
08/19/2025

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	08/19/2025		P(1)		221,966	A	$13.8534(2)	57,550,966	D
Class A Common Stock	08/20/2025		P(1)		225,000	A	$13.6216(3)	57,775,966	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 $13.63 to $14.28 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 $13.48 to $13.81 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	08/21/2025
	** 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 relationship to the company?

The Form 4 was filed for Dustin A. Moskovitz, who is reported as a director and a 10% owner of Asana, Inc.

How many shares did Dustin Moskovitz purchase and on what dates?

He purchased 221,966 shares on 08/19/2025 and 225,000 shares on 08/20/2025, totaling 446,966 shares.

At what prices were the ASAN shares purchased under the Form 4?

The weighted-average prices reported were $13.8534 (range $13.63–$14.28) for 08/19/2025 and $13.6216 (range $13.48–$13.81) for 08/20/2025.

Were the transactions part of a Rule 10b5-1 plan?

Yes. The purchases were effected pursuant to a Rule 10b5-1 trading plan adopted on 09/05/2024.

What are Dustin Moskovitz's total reported holdings after these transactions?

Following the reported purchases, direct beneficial ownership is reported at 57,775,966 Class A shares and indirect holdings in his trust amount to 4,147,046 shares.