Doximity Form 4: Option exercise and 10b5-1 sale by director Benjamin Regina M.

Rhea-AI Filing Summary

Doximity director Benjamin Regina M. reported transactions on 09/12/2025. The Form 4 shows conversion and movements among Class A and Class B common stock and option activity. The reporting person acquired 5,000 shares of Class A common stock via conversion and exercised a stock option providing the right to buy 5,000 shares at $2.21. Concurrently, 5,000 shares of Class A common stock were sold under a Rule 10b5-1 trading plan at a price of $70.50 per share. After these transactions the reporting person beneficially owned 19,839 shares of Class A and 356,138 shares of Class B common stock (Class B converts 1:1 to Class A).

Positive

• Transparent disclosure of insider transactions including conversion, option activity, and sale under a Rule 10b5-1 plan
• Sale executed under a 10b5-1 plan, indicating pre-established, rules-compliant liquidity rather than opportunistic trading
• Significant residual ownership retained: 356,138 shares of Class B common stock, preserving concentrated ownership

Negative

• Insider sale of 5,000 Class A shares at $70.50 reduces the reporting person's liquid Class A stake to 19,839 shares
• Potential dilution from exercised option (5,000 shares) increases outstanding shares if exercised and settled in stock

Insights

Securities Analyst

TL;DR: Director sold a small block via a pre-established 10b5-1 plan while exercising vested options; ownership remains concentrated.

The reported sale of 5,000 Class A shares at $70.50 appears to have occurred automatically under a Rule 10b5-1 plan adopted February 26, 2025, reducing Class A holdings to 19,839 shares. The reporting person continues to hold a substantial position in Class B stock (356,138 shares), which converts to Class A on specified events, maintaining significant voting/ownership influence. The option exercised (or exercisable) at $2.21 for 5,000 shares reflects prior compensation vesting and is economically distinct from the 10b5-1 sale.

Corporate Governance Expert

TL;DR: Transaction is routine insider liquidity using pre-set plan; no governance change disclosed.

The Form 4 discloses typical director activity: option vesting schedule from a 2020 grant and a scheduled sale under a 10b5-1 plan. There is no indication of a change in board status or transfer that would trigger automatic conversion beyond ordinary plan terms. The continued large Class B holding suggests sustained control alignment with existing capital structure rather than a shift in governance.

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^*

Benjamin Regina M.

(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)
09/12/2025

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	09/12/2025		C(1)		5,000	A	(1)	24,839	D
Class A Common Stock	09/12/2025		S(2)		5,000	D	$70.5	19,839	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
Stock Option (Right to Buy)	$2.21	09/12/2025		M			5,000	(3)	09/01/2030	Class B Common Stock(4)	5,000	$0	356,138	D
Class B Common Stock	(4)	09/12/2025		M		5,000		(4)	(4)	Class A Common Stock	5,000	$0	5,000	D
Class B Common Stock	(4)	09/12/2025		C(1)			5,000	(4)	(4)	Class A Common Stock	5,000	$0	0	D

Explanation of Responses:

1. 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.

2. The sales reported in this Form 4 occurred automatically pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on February 26, 2025.

3. The stock option vested in 36 equal monthly installments after September 2, 2020, subject to the Reporting Person's continuous service relationship with the Issuer through each applicable vesting date. The stock option was granted on September 2, 2020.

4. 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.

Remarks:

Exhibit 24 - Power of Attorney

	/s/ John Vaughan, Attorney-in-Fact	09/16/2025
	** 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 Benjamin Regina M. transact on 09/12/2025?

He converted and acquired 5,000 Class A shares, exercised options associated with 5,000 shares at $2.21, and sold 5,000 Class A shares at $70.50 under a Rule 10b5-1 plan.

Was the sale of DOCS shares by the director pre-planned?

Yes. The sales occurred automatically pursuant to a Rule 10b5-1 trading plan adopted on February 26, 2025.

How many DOCS shares does the reporting person own after the transactions?

19,839 shares of Class A common stock and 356,138 shares of Class B common stock are reported after the transactions.

What was the exercise price of the options reported?

$2.21 per share for the stock option related to 5,000 shares.

At what price were the 5,000 Class A shares sold?

$70.50 per share.