[Form 4] Doximity, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Doximity (NYSE:DOCS) filed a Form 4 revealing that director Regina M. Benjamin exercised 10,000 stock options at $2.21, converted the resulting Class B shares into Class A, and immediately sold those 10,000 Class A shares at $60 on 06/25/2025. The trade was executed under a pre-arranged Rule 10b5-1 plan adopted 02/26/2025.

The gross proceeds total roughly $600,000, representing about 38% of Benjamin’s direct Class A position before the sale. After the transactions she still directly owns 16,618 Class A shares and holds 371,138 option shares.

Positive

• None.

Negative

• Director Regina M. Benjamin sold 10,000 shares at $60 (≈$600k), equal to roughly 38% of her direct Class A holdings, potentially signaling reduced short-term confidence.

Insights

Insider Trading Analyst

TL;DR: Option exercise funded sale; net share count flat, moderate cash-out.

The filing shows a classic cashless exercise-and-sell. Benjamin exercised 10,000 options at $2.21, instantly converting them into Class A and selling at $60, booking ~$578k before tax. Although the sale equals 38% of her pre-sale Class A stake, total direct ownership returns to its prior 16,618 shares, so there is no meaningful dilution of insider alignment. Execution under a 10b5-1 plan limits informational signaling. With 371k options outstanding, her long-term leverage remains significant. Overall market impact should be muted unless investors interpret the monetization as a bearish sentiment shift, which the plan designation attempts to mitigate.

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)
06/25/2025

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	06/25/2025		C(1)		10,000	A	(1)	26,618	D
Class A Common Stock	06/25/2025		S(2)		10,000	D	$60	16,618	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	06/25/2025		M			10,000	(3)	09/01/2030	Class B Common Stock(4)	10,000	$0	371,138	D
Class B Common Stock	(4)	06/25/2025		M		10,000		(4)	(4)	Class A Common Stock	10,000	$0	10,000	D
Class B Common Stock	(4)	06/25/2025		C(1)			10,000	(4)	(4)	Class A Common Stock	10,000	$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:

	/s/ Jennifer Chaloemtiarana, Attorney-in-Fact	06/27/2025
	** 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

How many DOCS shares did Regina Benjamin sell on 06/25/2025?

She sold 10,000 Class A shares at $60 each, totaling about $600,000 in gross proceeds.

Was the DOCS insider sale part of a 10b5-1 plan?

Yes. The transactions occurred automatically under a Rule 10b5-1 trading plan adopted on 02/26/2025.

How many DOCS shares does Regina Benjamin still own after the sale?

She directly owns 16,618 Class A shares and retains 371,138 option shares following the reported transactions.

At what price were the options exercised by the DOCS director?

The 10,000 options were exercised at an exercise price of $2.21 per share.