DOCUSIGN insider files Form 144 for 7,500-share sale via Morgan Stanley

Rhea-AI Filing Summary

DOCUSIGN, INC. (DOCU) filed a Form 144 notifying the proposed sale of 7,500 common shares, with an aggregate market value of $533,977.50, through Morgan Stanley Smith Barney LLC on or about 10/01/2025. The filing lists total shares outstanding as 201,104,117, indicating the sale represents a very small fraction of outstanding stock. All 7,500 shares were acquired as restricted stock from the issuer on four dates in 2023 and 2024, and no other sales by the reporting person were reported in the past three months. The notice includes the standard representation that the seller is not aware of undisclosed material adverse information.

Positive

• Full compliance with Rule 144 disclosure elements including broker, acquisition history, and signature attestation
• Transparency about acquisition dates and that shares were issued as restricted stock
• Immaterial size of the proposed sale relative to 201,104,117 shares outstanding, suggesting limited market impact

Negative

• None.

Insights

Securities Analyst

TL;DR: Routine insider sale notice for 7,500 restricted shares; immaterial relative to outstanding shares.

The Form 144 documents an intended sale of 7,500 common shares valued at $533,977.50 to be executed via Morgan Stanley Smith Barney LLC around October 1, 2025. Acquisition history shows these shares originated as restricted stock grants from the issuer on four separate dates in 2023 and 2024, totaling the 7,500 shares offered. With 201,104,117 shares outstanding, the proposed sale represents roughly 0.0037% of the float, which is immaterial from a market-impact perspective. The filing contains the standard attestation regarding no undisclosed material adverse information.

Corporate Governance Expert

TL;DR: Procedural compliance with Rule 144; disclosure aligns with insider sale reporting practices.

The filing appears to comply with Rule 144 disclosure requirements: it identifies the broker, the class and quantity of securities, acquisition dates and nature (restricted stock), and reports no sales in the prior three months. The seller’s attestation about material information and the inclusion of plan/adoption date fields (left blank) are consistent with routine insider sale notices. There is no indication in the filing of any special restrictions or irregularities that would raise governance concerns.

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	7500	533977.50	201104117	10/01/2025	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	08/10/2023	Restricted Stock	ISSUER			1173	08/10/2023	Not Applicable
Common	06/10/2024	Restricted Stock	ISSUER			4553	06/10/2024	Not Applicable
Common	07/10/2023	Restricted Stock	ISSUER			1573	07/10/2023	Not Applicable
Common	09/10/2023	Restricted Stock	ISSUER			201	09/10/2023	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

Nothing to Report

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's Form 144 notify?

The filing notifies a proposed sale of 7,500 common shares valued at $533,977.50 to be sold through Morgan Stanley Smith Barney LLC around 10/01/2025.

How were the shares being sold acquired?

All shares were acquired as restricted stock from the issuer on 07/10/2023, 08/10/2023, 09/10/2023, and 06/10/2024.

How significant is the sale relative to DOCU's outstanding shares?

The filing reports 201,104,117 shares outstanding; 7,500 shares represent approximately 0.0037% of that total.

Did the filer report any other sales in the past three months?

No; the Form 144 indicates Nothing to Report for securities sold during the past three months.

Which broker is handling the proposed sale?

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