DOCUSIGN insider files Form 144 for 9,509-share sale on 09/17/2025

Rhea-AI Filing Summary

DOCUSIGN, INC. (DOCU) Form 144 notifies the SEC of an intended sale of 9,509 common shares through Morgan Stanley Smith Barney on 09/17/2025, with an aggregate market value of $790,220.72 and 201,104,117 shares outstanding reported for the class. The filer shows recent acquisitions from the issuer dated 08/10/2025 and 09/10/2025 totaling 9,509 shares (mix of restricted stock and performance shares). The filer also reported two prior sales in the past three months: 11,214 shares on 07/01/2025 for $867,036.66 and 15,143 shares on 06/18/2025 for $1,132,640.37. The notice includes the standard representation that the seller is not aware of undisclosed material adverse information.

Positive

• None.

Negative

• Insider selling activity: Proposed sale of 9,509 shares and prior sales of 11,214 and 15,143 shares in the past three months indicate continued insider liquidity.
• Material value: The proposed sale carries an aggregate market value of $790,220.72, and prior gross proceeds totaled $1,999,676.03, which may be material depending on holder size.

Insights

Securities Analyst

TL;DR: Insider proposes a near-term sale of 9,509 DOCU shares after recent acquisitions and following two sizable sales earlier this year.

The Form 144 documents a proposed brokered sale of 9,509 common shares via Morgan Stanley Smith Barney on 09/17/2025 valued at $790,220.72, against a share class outstanding figure of 201,104,117. The filing shows the shares originated from issuer grants (restricted stock and performance shares) dated 08/10/2025 and 09/10/2025. The filer previously sold 11,214 and 15,143 shares on 07/01/2025 and 06/18/2025, respectively, producing aggregate gross proceeds of $1,999,676.03. From a trading-impact perspective, the listing is procedural disclosure of insider sales rather than an operational update; the document itself contains no additional company performance data.

Corporate Governance Expert

TL;DR: Routine insider sale notice tied to recent equity awards; disclosure meets Rule 144 requirements but reveals active insider liquidity.

The filing identifies the sales channel (Morgan Stanley Smith Barney) and specifies acquisition types (restricted stock and performance shares) with acquisition dates in August and September 2025. It confirms the seller made prior open-market sales in June and July 2025. The signature statement affirms no undisclosed material adverse information. Governance-wise, this is standard compliance with resale rules and the 10b5-1 text is provided as a caution, though no plan-adoption date is indicated in the remarks section.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	9509	790220.72	201104117	09/17/2025	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	09/10/2025	Performance Shares	ISSUER			1178	09/10/2025	Not Applicable
Common	08/10/2025	Restricted Stock	ISSUER			1523	08/10/2025	Not Applicable
Common	09/10/2025	Restricted Stock	ISSUER			6808	09/10/2025	Not Applicable

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
BLAKE J GRAYSON 221 Main Street, Suite 800 San Francisco CA 94105	Common	07/01/2025	11214	867036.66
BLAKE J GRAYSON 221 Main Street, Suite 800 San Francisco CA 94105	Common	06/18/2025	15143	1132640.37

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does DOCU Form 144 filed here report?

The filing reports a proposed sale of 9,509 DOCU common shares via Morgan Stanley Smith Barney on 09/17/2025, valued at $790,220.72.

Who is the broker listed for the proposed sale of DOCU shares?

The broker listed is Morgan Stanley Smith Barney LLC, Executive Financial Services, 1 New York Plaza, 8th Floor, New York, NY 10004.

What recent acquisitions supplied the shares proposed for sale?

The shares were acquired from the issuer as restricted stock and performance shares on 08/10/2025 and 09/10/2025, totaling 9,509 shares.

Has the filer sold DOCU shares recently?

Yes; the filer sold 15,143 shares on 06/18/2025 for $1,132,640.37 and 11,214 shares on 07/01/2025 for $867,036.66.

Does the Form 144 indicate undisclosed adverse information about DOCU?

The signer represents they do not know any material adverse information about the issuer that has not been publicly disclosed.