Doximity (NYSE: DOCS) exec sells shares after option exercise
Rhea-AI Filing Summary
Doximity, Inc. officer Siddharth Sitaram reported equity transactions involving Class A and Class B shares. On August 13, 2026, he exercised a stock option for 5,000 shares of Class B Common Stock at an exercise price of $4.12 per share, converting them into 5,000 shares of Class A Common Stock. On the same date, 1,770 Class A shares were sold at $24.94 per share in a sell-to-cover transaction to satisfy tax withholding obligations, executed automatically under a Rule 10b5-1 trading plan. On August 15, 2026, an additional 3,882 Class A shares were withheld by the issuer at $24.80 per share to cover tax obligations from restricted stock unit vesting, a mandatory issuer election rather than a discretionary trade.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Exercise and sale activity reported; no spread calculated
Exercise and Sale
6 txns
Insider
Sitaram Siddharth
Role
Chief Accounting Officer
Sold
1,770 shs ($44K)
Approx. gross sale proceeds
$44K
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Class A Common Stock F4 | 3,882 | $24.80 | $96K |
| Exercise | Stock Option (Right to Buy) F5, F6 | 5,000 | $0.00 | $0.00 |
| Exercise | Class B Common Stock F6 | 5,000 | $0.00 | $0.00 |
| Conversion | Class B Common Stock F6, F1 | 5,000 | $0.00 | $0.00 |
| Conversion | Class A Common Stock F1 | 5,000 | -- | -- |
| Sale | Class A Common Stock F2, F3 | 1,770 | $24.94 | $44K |
Holdings After Transaction:
Stock Option (Right to Buy) — 59,000 shares (Direct);
Class B Common Stock — 0 shares (Direct);
Class A Common Stock — 93,122 shares (Direct)
Footnotes (6)
- F1. Each share of Class B Common Stock, par value $0.001 per share (the "Class B Common Stock"), converted into one share of Class A Common Stock, par value $0.001 per share (the "Class A Common Stock"), at the option of the holder.
- F2. The sales reported in this Form 4 occurred automatically pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on February 27, 2026.
- F3. Represents shares of Class A Common Stock sold by the Reporting Person in a sell-to-cover transaction to satisfy the tax withholding obligations in connection with the exercise of a stock option previously granted to the Reporting Person.
- F4. Represents shares of Class A Common Stock withheld by the Issuer in satisfaction of tax withholding obligations in connection with the vesting of restricted stock units previously granted to the Reporting Person. Such withholding is mandated by an election of the Issuer made in advance and does not represent a discretionary trade by the Reporting Person.
- F5. The shares subject to the stock option vested as to 1/4th of the total number of shares on November 23, 2021 and the remaining shares vested in 36 equal monthly installments thereafter, subject to the Reporting Person's continuous service relationship with the Issuer through each applicable vesting date. The stock option was granted on December 22, 2020.
- F6. Each share of Class B Common Stock is convertible into one share of Class A Common Stock at any time at the option of the holder. Each share of Class B Common Stock held by the Reporting Person will automatically convert into one share of Class A Common Stock, upon the following: (1) the sale or transfer of such share of Class B Common Stock, except for certain permitted transfers described in the Issuer's amended and restated certificate of incorporation; (2) the death or incapacity of the Reporting Person; and (3) on the final conversion date, defined as the earlier of (a) the tenth anniversary of the effectiveness of the registration statement in connection with the Issuer's initial public offering; or (b) the date specified by a vote of the holders of at least 66 2/3% of the outstanding shares of Class B Common Stock, voting as a single class.
Key Figures
Option shares exercised: 5,000 shares
Option exercise price: $4.12 per share
Class A shares sold: 1,770 shares
+5 more
8 metrics
Option shares exercised
5,000 shares
Stock option (right to buy) exercised on 2026-08-13
Option exercise price
$4.12 per share
Conversion or exercise price for 5,000-share stock option
Class A shares sold
1,770 shares
Sale of Class A Common Stock on 2026-08-13
Sale price per share
$24.94 per share
Price for 1,770 Class A shares sold in sell-to-cover transaction
Shares withheld for RSU taxes
3,882 shares
Class A shares withheld by issuer on 2026-08-15 to satisfy RSU tax obligations
Withholding price per share
$24.80 per share
Value used for 3,882 withheld Class A shares
Remaining option position
59,000 shares
Total shares underlying stock options following the 5,000-share exercise
Option expiration date
2030-12-21
Expiration of the exercised stock option grant
Key Terms
Rule 10b5-1 trading plan, sell-to-cover transaction, restricted stock units, Class B Common Stock, +1 more
5 terms
Rule 10b5-1 trading plan regulatory
"The sales reported in this Form 4 occurred automatically pursuant to a Rule 10b5-1 trading plan"
A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.
sell-to-cover transaction financial
"sold by the Reporting Person in a sell-to-cover transaction to satisfy the tax withholding"
A sell-to-cover transaction is when a person granted company stock (for example as part of compensation or option exercise) immediately sells enough of those shares to pay required taxes or exercise costs and keeps the rest. Think of it like cashing part of a bonus to cover the tax bill; it provides necessary cash without the holder needing outside funds. Investors watch these sales because they increase trading volume and slightly reduce insider holdings, but they often reflect routine tax or cost management rather than a judgment on the company’s prospects.
restricted stock units financial
"tax withholding obligations in connection with the vesting of restricted stock units previously granted"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
Class B Common Stock financial
"Each share of Class B Common Stock is convertible into one share of Class A"
A class B common stock is one of multiple types of a company’s ordinary shares that carries specific rights—often different voting power or dividend priority—compared with other classes. For investors it matters because those differences affect how much influence you have over company decisions, the income you might receive, and how freely the shares trade; think of it like owning a car with different keys: some keys let you start the engine and open the trunk, others only unlock the door.
final conversion date regulatory
"on the final conversion date, defined as the earlier of (a) the tenth anniversary"
FAQ
What stock option did DOCS officer Siddharth Sitaram exercise in this Form 4?
Siddharth Sitaram exercised a stock option for 5,000 shares of Class B Common Stock at an exercise price of $4.12 per share. The option, granted December 22, 2020, vested over time and the shares were converted into 5,000 Class A shares.
What is the net effect of the reported DOCS transactions on Siddharth Sitaram’s holdings?
The filing shows exercises and conversions totaling 15,000 derivative shares and net reported sales of 1,770 Class A shares. Post-transaction holdings are disclosed for the option position (59,000 derivative shares), while resulting common stock holdings are not quantified in this data.
AI-generated analysis. How Rhea-AI works. Not financial advice.
