DOCS Form 4: Kevin Spain Granted 3,221 RSUs as Director Compensation

Rhea-AI Filing Summary

Kevin Spain, a director of Doximity, Inc. (DOCS), received 3,221 restricted stock units (RSUs) on 08/28/2025 as compensation under the company’s non-employee director policy. Each RSU converts to one share of Class A common stock and vests in full on the earlier of the first anniversary of the grant or the next annual meeting, subject to continued service. After the grant Mr. Spain directly beneficially owned 9,581 Class A shares, which includes 3,221 RSUs and 6,360 previously vested shares. He also has indirect holdings of 244,607 shares in The Kevin Spain Family Trust and 387,500 shares held by Emergence Capital Opportunity I, L.P., of which he is affiliated; he disclaims beneficial ownership of those indirect holdings except for any pecuniary interest.

Positive

• Director received equity-based compensation (3,221 RSUs), aligning interests with shareholders
• Clear disclosure of direct and indirect holdings, including trusts and fund vehicles

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Routine director compensation via RSUs increases direct holdings modestly and highlights existing indirect ownership through investment vehicles.

The Form 4 documents a standard non-employee director equity grant: 3,221 RSUs awarded at no cash price, vesting based on continued service. The disclosure clarifies direct versus indirect ownership: 9,581 Class A shares directly attributable post-grant, alongside substantial indirect positions (244,607 and 387,500 shares) held via a family trust and a venture fund vehicle. The reporting person expressly disclaims Section 16 beneficial ownership of the indirect holdings aside from any pecuniary interest, which is typical when shares are held in trusts or funds with separate legal control.

Securities Analyst

TL;DR: The transaction is non-cash director equity compensation and is not an unusual market-moving change in ownership.

The acquisition recorded is coded as an award of RSUs with zero price, indicating compensation rather than a purchase. The increment to direct beneficial ownership is 3,221 RSUs, which vest over time. Large indirect positions are outlined, but the filer disclaims beneficial ownership for Section 16 purposes. From a securities-disclosure perspective, the filing is complete in enumerating direct awards and existing indirect holdings.

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^*

Spain Kevin

(Last) (First) (Middle)

C/O EMERGENCE CAPITAL

5 PIER, STE. 102

(Street)

SAN FRANCISCO CA 94111

(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	9,581(2)	D
Class A Common Stock								244,607	I	See footnote(3)
Class A Common Stock								387,500	I	By Emergence Capital Opportunity I, L.P.(4)

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.

2. Represents (i) 3,221 RSUs and (ii) 6,360 shares of Class A Common Stock previously issued to the Reporting Person upon vesting of RSUs. The Reporting Person, a member of Emergence Equity Partners II, L.P. ("EEP II"), is contractually obligated to transfer and/or remit the proceeds of any sale of shares issued upon vesting of RSUs to EEP II. As such, the Reporting Person disclaims Section 16 beneficial ownership of such shares, except to the extent, if any, of his pecuniary interest therein, and this report shall not be deemed an admission that he is the beneficial owner of such shares for Section 16 or any other purpose.

3. These shares are held by The Kevin Spain Family Trust Dated 11/14/22. The Reporting Person disclaims Section 16 beneficial ownership of such shares, except to the extent, if any, of his pecuniary interest therein, and this report shall not be deemed an admission that he is the beneficial owner of such shares for Section 16 or any other purpose.

4. These shares are held directly by Emergence Capital Opportunity I, L.P. ("ECO I"). The sole general partner of ECO I is Emergence Equity Partners VI, L.P. ("EEP VI"), and the sole general partner of EEP VI is Emergence GP Partners, LLC ("EGP"). The Reporting Person is a member of EEP VI. The Reporting Person disclaims Section 16 beneficial ownership of the shares held by ECO I, except to the extent, if any, of his pecuniary interest therein, and this report shall not be deemed an admission that he is the beneficial owner of such shares for Section 16 or any other purpose.

	/s/ Kristina Landers, by Power of Attorney from Kevin Spain	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.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What transaction did Kevin Spain report on Form 4 for DOCS?

He received 3,221 RSUs on 08/28/2025 as non-employee director compensation; each RSU converts to one Class A share upon vesting.

How many Class A shares does Kevin Spain directly own after the grant?

9,581 Class A shares directly beneficially owned following the reported transaction (3,221 RSUs plus 6,360 previously vested shares).

Does Kevin Spain have additional indirect holdings in DOCS?

Yes. He has 244,607 shares held by The Kevin Spain Family Trust and 387,500 shares held by Emergence Capital Opportunity I, L.P., of which he is affiliated.

Are the RSUs paid in cash or at a price?

The RSUs were granted at $0, indicating they are compensation awards rather than purchases.

When do the RSUs vest?

They vest in full on the earlier of the first anniversary of the grant date or the issuer’s next annual meeting, subject to continued service as a director.