Doximity (DOCS) interim PFO exercises options and sells 2,309 shares under 10b5-1 plan
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Doximity, Inc. interim PFO and PAO Siddharth Sitaram reported routine equity transactions involving Class A and Class B shares. He exercised a stock option covering 5,000 shares of Class B Common Stock at a $4.12 exercise price, which converted into 5,000 shares of Class A Common Stock. On the same date, he sold 2,309 shares of Class A Common Stock at $25.77 per share in an automatic Rule 10b5-1 sell-to-cover transaction to satisfy tax withholding obligations. Following these transactions, he directly held 91,705 shares of Class A Common Stock.
Positive
- None.
Negative
- None.
Insights
Routine option exercise with small tax-related share sale under a 10b5-1 plan.
Interim PFO and PAO Siddharth Sitaram exercised stock options for 5,000 shares of Class B Common Stock at an exercise price of $4.12, which converted into 5,000 shares of Class A Common Stock. This is a typical equity compensation event.
He sold 2,309 Class A shares at $25.77 per share in a sell-to-cover transaction to meet tax withholding obligations, executed automatically under a Rule 10b5-1 trading plan. Such tax-driven, pre-planned sales generally carry limited informational value about management’s view of the stock.
After these movements, Sitaram held 91,705 Class A shares directly, indicating that the reported sale represents only a small portion of his overall equity position disclosed in this filing.
Insider Trade Summary 10b5-1
Net Seller: 2,309 shares ($59,503)
Net Sell
5 txns
Insider
Sitaram Siddharth
Role
Interim PFO and PAO
Sold
2,309 shs ($60K)
| 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 | 2,309 | $25.77 | $60K |
Holdings After Transaction:
Stock Option (Right to Buy) — 73,800 shares (Direct, null);
Class B Common Stock — 5,000 shares (Direct, null);
Class A Common Stock — 91,705 shares (Direct, null)
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 August 28, 2025. 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. 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. 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
Shares sold: 2,309 shares
Sale price: $25.77 per share
Option exercise size: 5,000 shares
+5 more
8 metrics
Shares sold
2,309 shares
Class A Common Stock sold at $25.77 per share
Sale price
$25.77 per share
Price for 2,309 Class A shares sold
Option exercise size
5,000 shares
Stock option for Class B Common Stock exercised
Option exercise price
$4.12 per share
Exercise price of stock option converted into Class B shares
Class A acquired via conversion
5,000 shares
Class B Common Stock converted into Class A Common Stock
Post-transaction Class A holdings
91,705 shares
Direct Class A Common Stock held after reported transactions
Derivative exercises
15,000 shares
Total derivative shares exercised or converted per summary
Net buy/sell shares
-2,309 shares
Net sell direction across reported transactions
Key Terms
Rule 10b5-1 trading plan, sell-to-cover transaction, stock option, 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 adopted by the Reporting Person on August 28, 2025."
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
"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..."
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.
stock option financial
"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..."
A stock option is a contract that gives you the right to buy or sell a company's stock at a specific price within a certain time frame. People use them to potentially make money if the stock's price moves favorably or to protect against losses. It's like holding a coupon that can be used to buy or sell stock at a set price later on.
Class B Common Stock financial
"Each share of Class B Common Stock, par value $0.001 per share, converted into one share of Class A Common Stock..."
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.
Class A Common Stock financial
"Each share of Class B Common Stock... converted into one share of Class A Common Stock, par value $0.001 per share..."
Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.
FAQ
What insider transactions did Doximity (DOCS) interim PFO Siddharth Sitaram report?
He exercised options for 5,000 shares of Class B Common Stock, converting them into 5,000 Class A shares, and sold 2,309 Class A shares at $25.77 each in a tax-related transaction executed under a Rule 10b5-1 trading plan.
What stock option activity did Doximity (DOCS) report for Siddharth Sitaram?
He exercised a stock option for 5,000 shares of Class B Common Stock at an exercise price of $4.12 per share. Those Class B shares converted into 5,000 shares of Class A Common Stock as part of the company’s dual-class share structure.
Were Doximity (DOCS) insider sales by Siddharth Sitaram pre-planned under Rule 10b5-1?
Yes. The filing states the sales occurred automatically under a Rule 10b5-1 trading plan adopted by Siddharth Sitaram on August 28, 2025, indicating the timing was pre-arranged rather than discretionary.