[Form 4] DocuSign, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Enrique T. Salem, a director of DocuSign, Inc. (DOCU), reported acquisitions on August 29, 2025. The filing shows Mr. Salem received 729 shares of common stock and 729 restricted stock units (RSUs) at a $0.00 price as part of an equity grant. After the transaction he beneficially owns 165,131 shares. The RSUs have a vesting commencement date of May 29, 2025 and vest in equal quarterly installments over one year, with the fourth installment subject to earlier vesting at the company’s next annual meeting or the one-year anniversary. The RSUs do not expire.

Positive

• Director received compensatory equity awards (729 shares and 729 RSUs), aligning management interests with shareholders
• Clear vesting schedule: RSUs vest in equal quarterly installments over one year with an explicit commencement date of May 29, 2025
• RSUs do not expire, as explicitly stated

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Routine director equity grant aligning interests with shareholders; vesting schedule encourages continued service over one year.

This Form 4 discloses a standard equity award to a director: 729 shares and 729 RSUs granted with no purchase price, increasing total beneficial ownership to 165,131 shares. The RSU vesting commencement date and quarterly vesting over one year are explicitly stated, with a provision accelerating the final installment to the earlier of the next annual meeting or the one-year anniversary. This structure is consistent with typical director compensation designed to promote retention and alignment without unusual terms disclosed in the filing.

Securities Analyst

TL;DR: Non-material insider grant disclosed; increases insider ownership modestly and includes clear vesting schedule.

The filing records an insider receipt of 729 common shares and 729 RSUs on 08/29/2025, reported on Form 4 and signed 09/02/2025. The reported price is $0.00, indicating these are compensatory awards rather than market purchases. Post-transaction beneficial ownership is reported as 165,131 shares. No derivative instruments beyond RSUs are outstanding according to the filing, and the RSUs are non-expiring with defined quarterly vesting.

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

OMB APPROVAL

OMB Number:			3235-0287
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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^*

Salem Enrique T

(Last) (First) (Middle)

C/O BAIN CAPITAL VENTURE INVESTORS, LLC

200 CLARENDON STREET

(Street)

BOSTON MA 02116

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
DOCUSIGN, INC. [ DOCU ]

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)
08/29/2025

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
Common Stock	08/29/2025		M		729	A	$0.00	165,131	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
Restricted Stock Units	(1)	08/29/2025		M			729	(2)	(2)	Common Stock	729	$0.00	2,187	D

Explanation of Responses:

1. Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock.

2. The RSUs have a vesting commencement date of May 29, 2025 and will vest in equal quarterly installments over one year, provided that the fourth quarterly installment shall vest in full on the earlier of (i) the date of the Company's next annual meeting of stockholders and (ii) the one year anniversary of the grant, in each case, subject to the Reporting Person being a service provider through each such date. The RSUs do not expire.

	/s/ Enrique T. Salem	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.
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FAQ

How many shares did Enrique T. Salem acquire in the Form 4 for DOCU?

The filing reports acquisition of 729 shares of common stock and 729 restricted stock units (RSUs) on 08/29/2025.

What is Enrique Salem's total beneficial ownership of DOCU after the reported transaction?

The Form 4 shows 165,131 shares beneficially owned following the reported transactions.

What are the vesting terms for the RSUs reported on this Form 4?

The RSUs have a vesting commencement date of May 29, 2025 and vest in equal quarterly installments over one year; the fourth installment vests earlier of the next annual meeting or the one-year anniversary.

What price was reported for the acquired shares and RSUs?

The filing reports a price of $0.00 for both the common stock and the RSUs, indicating compensatory awards.

When was the Form 4 signed and filed?

The signature block shows the Form 4 was signed by Enrique T. Salem on 09/02/2025 and the transactions occurred on 08/29/2025.