DOCS Form 4: 10b5-1 Sale and Class B Conversion Reported by Director
Rhea-AI Filing Summary
Benjamin Regina M., a director of Doximity, Inc. (DOCS), reported transactions dated 08/08/2025. The Form 4 shows the conversion of 5,000 shares of Class B Common Stock into Class A Common Stock and the sale of 5,000 shares of Class A Common Stock at $63 per share. The sale occurred automatically under a Rule 10b5-1 trading plan adopted February 26, 2025.
Following the reported transactions the form lists the Reporting Person's beneficial ownership as 16,618 shares of Class A Common Stock. The filing also discloses derivative/option positions, with one line showing 361,138 derivative-equivalent shares beneficially owned after the reported transactions. The Form 4 is signed by an attorney-in-fact on 08/11/2025.
Positive
- Sale was executed under a Rule 10b5-1 trading plan adopted on 02/26/2025, indicating a preplanned transaction
- Conversion of Class B to Class A is documented and consistent with the issuer's conversion provisions
Negative
- Director sold 5,000 Class A shares at $63 per share on 08/08/2025, reducing direct Class A holdings to 16,618 shares
Insights
TL;DR: Director sold 5,000 DOCS shares at $63 under a pre-existing 10b5-1 plan; reported holdings declined accordingly.
The filing documents a routine insider transaction: conversion of 5,000 Class B shares to Class A and an automatic sale of 5,000 Class A shares at $63 executed pursuant to a Rule 10b5-1 plan adopted 02/26/2025. Reported direct Class A ownership after the transactions is 16,618 shares. The Form also reports significant derivative-equivalent holdings (the filing lists 361,138 shares in a derivatives row). From a capital-markets perspective, this is a disclosed, preplanned sale and is typically treated as non-surprising market activity; the filing provides clear quantities and execution price for modeling small changes in insider holdings.
TL;DR: Transaction executed under an established 10b5-1 plan and conversions per charter; this is a standard, documented insider disclosure.
The Form 4 indicates the director used an established Rule 10b5-1 trading plan for the sale, which reduces concerns about opportunistic timing because the plan was adopted on 02/26/2025. The filing also documents conversion mechanics for Class B to Class A shares consistent with the issuer's charter. The signature by an attorney-in-fact on 08/11/2025 satisfies the procedural filing requirement. Overall, governance procedures appear followed and the disclosure is routine.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option (Right to Buy) | 5,000 | $0.00 | -- |
| Exercise | Class B Common Stock | 5,000 | $0.00 | -- |
| Conversion | Class B Common Stock | 5,000 | $0.00 | -- |
| Conversion | Class A Common Stock | 5,000 | $0.00 | -- |
| Sale | Class A Common Stock | 5,000 | $63.00 | $315K |
Footnotes (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. 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. 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. 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.
