Doximity Insider: 20,000 Shares Sold Under 10b5-1; Option Activity Reported

Rhea-AI Filing Summary

Timothy S. Cabral, a director of Doximity, Inc. (DOCS), reported transactions on 09/24/2025 showing conversions, a sale under a pre-established trading plan, and option activity. He converted 20,000 shares of Class B into Class A common stock and simultaneously sold 20,000 shares at $75 per share pursuant to a Rule 10b5-1 plan adopted on February 13, 2025, leaving 3,221 shares of Class A common stock beneficially owned. The filing also reports exercise/vesting-related option activity for 20,000 stock options with a $2.21 exercise price and references customary conversion terms for Class B shares.

Positive

• Conversion of 20,000 Class B shares into Class A shares was completed, clarifying share class alignment
• Option exercise/vesting activity is disclosed, showing exercise price of $2.21 for 20,000 options consistent with grant terms
• Sale executed under Rule 10b5-1 plan, indicating the sale followed a pre-established trading arrangement

Negative

• Insider sale of 20,000 shares at $75, reducing beneficial ownership to 3,221 shares
• Significant decrease in direct Class A holdings from the transactions reported

Insights

Financial Analyst

TL;DR: Insider sold 20,000 shares under a 10b5-1 plan while converting equivalent Class B shares; option exercise activity noted.

The sale of 20,000 Class A shares at $75 per share appears to be an automated transaction under an established Rule 10b5-1 trading plan, which reduces immediate insider ownership to 3,221 shares. The concurrent conversion of 20,000 Class B into Class A is described as an at-holder's-option conversion consistent with the company charter. Reported stock-option activity shows 20,000 options with a $2.21 exercise price tied to prior grants and vesting schedules. Overall, the transactions are routine insider liquidity and exercise mechanics rather than an operational signal.

Corporate Governance Expert

TL;DR: Transactions follow standard governance mechanisms: conversion rights, 10b5-1 sale plan, and scheduled vesting/exercise.

The filing documents standard corporate governance events: conversion rights of Class B shares into Class A shares, automatic conversion triggers, and a Rule 10b5-1 sale that executed automatically. The option vesting and exercise details reference the original grant and monthly vesting schedule, consistent with executive equity arrangements. Disclosure includes a power of attorney signature, meeting Form 4 procedural requirements. These are disclosure-compliant actions rather than governance exceptions.

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).

1. Name and Address of Reporting Person^*

Cabral Timothy S

(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)
09/24/2025

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	09/24/2025		C(1)		20,000	A	(1)	23,221	D
Class A Common Stock	09/24/2025		S(2)		20,000	D	$75	3,221	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	09/24/2025		M			20,000	(3)	09/01/2030	Class B Common Stock(4)	20,000	$0	343,500	D
Class B Common Stock	(4)	09/24/2025		M		20,000		(4)	(4)	Class A Common Stock	20,000	$0	20,000	D
Class B Common Stock	(4)	09/24/2025		C(1)			20,000	(4)	(4)	Class A Common Stock	20,000	$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 13, 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	09/26/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What transactions did Timothy S. Cabral report on Form 4 for DOCS?

The Form 4 reports conversion of 20,000 Class B shares to Class A, a sale of 20,000 Class A shares at $75 each under a Rule 10b5-1 plan, and related stock-option activity for 20,000 options.

When did the reported transactions occur for DOCS insider Timothy Cabral?

All reported transactions occurred on 09/24/2025.

How many DOCS shares does Cabral beneficially own after the transactions?

The filing shows Cabral beneficially owns 3,221 shares of Class A common stock following the reported transactions.

Was the sale by the insider discretionary or pre-planned?

The sale of 20,000 shares occurred automatically pursuant to a Rule 10b5-1 trading plan adopted on February 13, 2025, per the filing.

What is the exercise price and scope of the reported options?

The filing reports stock options with an exercise price of $2.21 covering 20,000 underlying shares tied to a grant dated September 2, 2020, with vesting described in the filing.