Doximity Form 4: Director Sale Under 10b5-1 Plan Reduces Holdings

Rhea-AI Filing Summary

Timothy S. Cabral, a director of Doximity, Inc. (DOCS), reported the automatic sale of 6,360 shares of Class A common stock on 09/02/2025 at a weighted-average price of $66.2981 per share pursuant to a Rule 10b5-1 trading plan adopted on February 13, 2025. After the reported transactions, Mr. Cabral beneficially owned 3,221 shares of Class A common stock. The filing was signed by an attorney-in-fact on 09/04/2025 and the filer notes the sale prices ranged from $65.83 to $66.64 per share.

The Form 4 discloses that the sales occurred automatically under the established trading plan and the reporting person will provide transaction-level price details upon request.

Positive

• Sale executed under a Rule 10b5-1 trading plan, which provides an affirmative defense and reduces concerns about opportunistic timing
• Disclosure includes weighted-average price and price range ($65.83–$66.64), increasing transparency for investors

Negative

• Director reduced direct holdings by 6,360 shares, leaving 3,221 shares beneficially owned after the transactions

Insights

Corporate Governance Expert

TL;DR: Routine director sale executed under a 10b5-1 plan reduces governance concern but lowers insider stake.

The Form 4 shows a director-initiated sale governed by a pre-established Rule 10b5-1 plan, which generally mitigates concerns about opportunistic timing and insider trading. The disclosure of the weighted-average sale price and the range of execution prices increases transparency. Post-transaction beneficial ownership is modest at 3,221 shares, which represents a reduction in the director's direct stake. This is a standard governance filing rather than a signal of material corporate change.

Securities Analyst

TL;DR: Insider sold 6,360 shares at ~$66.30 under a scheduled plan; transaction is procedural, with limited immediate market impact.

The transaction date of 09/02/2025 and the disclosed weighted-average price ($66.2981) indicate multiple executions within a narrow price band ($65.83–$66.64). Sales executed pursuant to 10b5-1 plans typically reflect pre-planned liquidity rather than new information. The filing does not disclose any derivative activity or other compensatory changes. From a market perspective, the sale size disclosed appears routine and not necessarily material to Doximity's capitalization based on the information provided.

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^*

Cabral Timothy S

(Last) (First) (Middle)

C/O DOXIMITY, INC.

500 THIRD STREET

(Street)

SAN FRANCISCO CA 94107

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Doximity, Inc. [ DOCS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/02/2025

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	09/02/2025		S(1)		6,360	D	$66.2981(2)	3,221	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. The sales reported in this Form 4 occurred automatically pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on February 13, 2025.

2. The price represents the weighted-average price of the shares sold in multiple transactions ranging from $65.8300 to $66.6400 per share, inclusive. The Reporting Person undertakes to provide the Issuer, a 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/ Anna Bryson, Attorney-in-Fact	09/04/2025
	** 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 did DOCS director Timothy S. Cabral report on Form 4?

The Form 4 reports an automatic sale of 6,360 shares of Class A common stock on 09/02/2025 at a weighted-average price of $66.2981 per share under a Rule 10b5-1 plan.

Was the sale by the DOCS director part of a prearranged trading plan?

Yes. The filing states the sales occurred automatically pursuant to a Rule 10b5-1 trading plan adopted on February 13, 2025.

How many DOCS shares does Timothy Cabral own after the reported transactions?

After the reported sales, Mr. Cabral beneficially owned 3,221 shares of Class A common stock.

What price range did the DOCS shares sell for in these transactions?

The filing discloses the sales executed at prices ranging from $65.83 to $66.64 per share, with a weighted-average of $66.2981.

Who signed the Form 4 filing for the DOCS report?

The Form 4 was signed by Anna Bryson, Attorney-in-Fact on 09/04/2025.