[Form 4] Doximity, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Doximity, Inc. (DOCS) director Phoebe L. Yang received a grant of 3,221 restricted stock units (RSUs) on 08/28/2025 under the company’s non-employee director compensation policy. Each RSU converts to one share of Class A common stock upon vesting. The RSUs vest in full on the earlier of the first anniversary of the grant date or the company’s next annual meeting of stockholders, subject to the reporting person’s continued service as a director. After the grant, Ms. Yang beneficially owns 17,950 shares of Class A common stock. The grant was reported via Form 4 and executed on 08/28/2025.

Positive

• Alignment with shareholders: RSUs convert one-for-one to Class A shares, aligning director incentives with long-term shareholder value
• Standard vesting: Vesting over a fixed period or at the next annual meeting encourages continued board service

Negative

• Potential dilution: Issuance of 3,221 RSUs will increase outstanding shares upon vesting, though impact appears modest
• No performance-based conditions: Vesting is time-based only, not tied to company performance metrics

Insights

Securities Analyst

TL;DR: Routine director RSU grant; modest dilution and standard vesting tied to continued service.

The filing documents a typical non-employee director equity award: 3,221 RSUs that convert one-for-one into Class A shares and vest within roughly a year or at the next annual meeting. This is standard compensation for board service and appears aimed at aligning the director’s interests with shareholders. The incremental increase to 17,950 beneficially owned shares is modest relative to a public company scale and unlikely to materially affect share count or control. No sales, exercises, or derivative transactions are reported, and there are no atypical vesting conditions disclosed.

Corporate Governance Expert

TL;DR: Compensation follows common governance practice; vesting conditioned on continued board service.

The grant conforms to a non-employee director compensation policy, with time-based vesting tied to service or the next annual meeting. That structure is widely used to retain independent directors and align incentives without immediate dilution. The disclosure is complete for the transaction type reported: number of RSUs, conversion ratio, vesting schedule, and post-transaction beneficial ownership. There is no indication of accelerated vesting triggers or related-party nuances in this Form 4.

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

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

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^*

Yang Watkin Phoebe L.

(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)
08/28/2025

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	08/28/2025		A		3,221(1)	A	$0	17,950	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

Explanation of Responses:

1. These shares represent restricted stock units (each, an "RSU") granted on August 28, 2025 pursuant to the Issuer's non-employee director compensation policy, which vest in full on the earlier of (i) the first anniversary of the grant date or (ii) the Issuer's next annual meeting of stockholders, subject to the Reporting Person's continued service as a director through the applicable vesting date. Each RSU represents a contingent right to receive one share of the Issuer's Class A Common Stock.

Remarks:

	/s/ Anna Bryson, Attorney-in-Fact	09/02/2025
	** 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.
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FAQ

What did Phoebe L. Yang report on Form 4 for DOCS?

She was granted 3,221 RSUs on 08/28/2025 under the non-employee director compensation policy; each RSU represents one share of Class A common stock.

When do the RSUs granted to Ms. Yang vest?

The RSUs vest in full on the earlier of the first anniversary of the grant date or the issuer's next annual meeting of stockholders, subject to continued director service.

How many shares does Phoebe Yang beneficially own after the grant?

17,950 shares of Class A common stock are reported as beneficially owned following the transaction.

Was any cash paid for the RSUs?

No cash price is reported; the transaction code is an award (A) with a $0 price per RSU, consistent with equity compensation grants.

Does the Form 4 show any derivative transactions or sales by Ms. Yang?

No; Table II for derivative securities shows no entries and there are no dispositions reported on this Form 4.