Doximity (DOCS) interim PAO trades shares under 10b5-1 plan, exercises options
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Doximity, Inc. interim PAO Sitaram Siddharth reported multiple equity transactions involving Class A and Class B Common Stock. He sold 2,444 shares of Class A Common Stock at $20.41 per share, with the filing stating these sales occurred automatically under a Rule 10b5-1 trading plan adopted on August 28, 2025 and represented a sell-to-cover for tax withholding tied to an option exercise.
He converted and exercised derivative securities covering a total of 15,000 shares, including exercising a stock option for 5,000 shares of Class B Common Stock at an exercise price of $4.12 per share, which are convertible into an equal number of Class A shares. Following these transactions, he directly held 90,706 shares of Class A Common Stock and retained 68,800 stock options.
Positive
- None.
Negative
- None.
Insights
Routine option exercise with tax-related sale under a pre-set plan.
The filing shows interim PAO Sitaram Siddharth exercising and converting derivative securities for 15,000 shares while selling 2,444 Class A shares at $20.41. The sale is disclosed as part of a Rule 10b5-1 trading plan and used to cover tax obligations on the option exercise.
This pattern—exercise plus a smaller sell-to-cover—typically reflects compensation mechanics rather than a discretionary reduction in exposure. Post-transaction, he directly holds 90,706 Class A shares and 68,800 stock options, so the reported net-sell of 2,444 shares is small relative to his remaining position.
Insider Trade Summary 10b5-1
Net Seller: 2,444 shares ($49,882)
Net Sell
5 txns
Insider
Sitaram Siddharth
Role
Interim PAO
Sold
2,444 shs ($50K)
| 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 | 2,444 | $20.41 | $50K |
Holdings After Transaction:
Stock Option (Right to Buy) — 68,800 shares (Direct, null);
Class B Common Stock — 5,000 shares (Direct, null);
Class A Common Stock — 93,150 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: 2,444 shares
Sale price: $20.41 per share
Net buy/sell shares: -2,444 shares
+4 more
7 metrics
Shares sold
2,444 shares
Class A Common Stock sold at $20.41 per share on June 8, 2026
Sale price
$20.41 per share
Price for 2,444 Class A shares sold in open-market transaction
Net buy/sell shares
-2,444 shares
Net-sell direction across reported transactions
Derivative exercises/conversions
15,000 shares
Total shares from derivative exercises and conversions
Post-transaction Class A holdings
90,706 shares
Direct Class A Common Stock after reported transactions
Remaining stock options
68,800 options
Stock options outstanding after the transactions
Option exercise price
$4.12 per share
Exercise price for 5,000-share stock option
Key Terms
Rule 10b5-1 trading plan, sell-to-cover transaction, Class B Common Stock, stock option, +1 more
5 terms
Rule 10b5-1 trading plan financial
"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.
Class B Common Stock financial
"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."
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.
stock option financial
"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."
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.
conversion of derivative security financial
"Conversion of derivative security"
FAQ
What insider transactions did Doximity (DOCS) interim PAO Sitaram Siddharth report?
He reported selling 2,444 shares of Class A Common Stock at $20.41 per share and exercising or converting derivative securities for 15,000 shares. These moves combined an option exercise with a smaller sale primarily used for tax withholding obligations.
Was the Doximity (DOCS) insider sale by Sitaram Siddharth discretionary or pre-planned?
The filing states the sales occurred automatically under a Rule 10b5-1 trading plan adopted on August 28, 2025. Such plans pre-schedule trades, indicating the timing of this 2,444-share sale was set in advance rather than decided opportunistically.
What stock options did Doximity (DOCS) interim PAO exercise in this Form 4?
He exercised a stock option for 5,000 shares of Class B Common Stock at a $4.12 exercise price. Class B shares are convertible into an equal number of Class A shares, increasing his direct Class A holdings while reducing his derivative position.
How does the Form 4 describe Doximity (DOCS) Class B to Class A conversions?
It notes each share of Class B Common Stock converts into one share of Class A Common Stock at the holder’s option. Class B shares also automatically convert upon certain events, including specified transfers, death or incapacity, or a defined final conversion date under the charter.