[Form 4] DocuSign, Inc. Insider Trading Activity

Rhea-AI Filing Summary

DocuSign director Anna Marrs received 725 restricted stock units (RSUs) on 09/04/2025, reported on a Form 4. After the grant, she beneficially owns 11,527 shares of DocuSign common stock. The RSUs carry a $0 purchase price and represent contingent rights to one share each. They vest in twelve equal quarterly installments over three years beginning June 4, 2023, conditioned on continued service, and do not expire prior to vesting.

Positive

• Director received 725 RSUs, showing management retention alignment through equity compensation
• RSUs vest over three years in twelve equal quarterly installments, encouraging continued service
• Form 4 filed promptly with clear disclosure of amount and post-transaction beneficial ownership (11,527 shares)

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Director received time‑based RSUs intended for retention; reported promptly under Section 16.

The filing documents a routine equity award to a director totaling 725 RSUs, increasing beneficial ownership to 11,527 shares. The grant is time‑based, vesting quarterly over three years from a June 4, 2023 commencement date, which aligns with typical retention-focused compensation for non-employee directors. The award price is listed as $0 because RSUs convert to common stock upon vesting rather than being purchased. No derivative exercises, sales, or accelerated vesting events are disclosed. Disclosure appears complete for the reported transaction.

Securities Analyst

TL;DR: Insiders increasing stake modestly; transaction is non-cash RSU grant with standard vesting schedule.

The Form 4 shows a non-derivative acquisition coded as "M" for a grant of 725 RSUs and corresponding reporting in Table II indicating 725 underlying shares at $0. The incremental ownership after the grant is 11,527 shares, suggesting the grant is modest relative to typical director holdings in a public company. There are no sales or option exercises connected to this filing, so there is no immediate liquidity action by the reporting person. Impact on share count or dilution is not quantified in this filing.

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^*

Marrs Anna

(Last) (First) (Middle)

C/O DOCUSIGN, INC.

221 MAIN STREET, SUITE 800

(Street)

SAN FRANCISCO CA 94105

(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)
09/04/2025

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	09/04/2025		M		725	A	$0	11,527	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)	09/04/2025		M			725	(2)	(3)	Common Stock	725	$0	2,175	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 will vest in twelve equal quarterly installments over three years, with a vesting commencement date of June 4, 2023, in each case subject to the Reporting Person being a service provider through each such date.

3. The RSUs do not expire; they either vest or are canceled prior to vesting date.

Remarks:

	/s/ Derrick Chapman, Attorney-in-fact	09/04/2025
	** 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 did DocuSign director Anna Marrs acquire on 09/04/2025?

Anna Marrs was granted 725 restricted stock units (RSUs), representing the right to 725 shares of DocuSign common stock upon vesting.

How many DocuSign shares does Anna Marrs beneficially own after the grant?

Following the reported transaction, Anna Marrs beneficially owns 11,527 shares of DocuSign common stock.

What is the vesting schedule for the 725 RSUs reported for DOCU?

The RSUs vest in twelve equal quarterly installments over three years, with a vesting commencement date of June 4, 2023, subject to continued service.

Was there any cash purchase price for the RSUs in this Form 4?

No; the transaction lists a $0 price because these are restricted stock units that convert to shares upon vesting rather than being purchased.

Does the Form 4 show any sales or option exercises by the reporting person?

No; the filing reports only the grant of RSUs and the resulting beneficial ownership. There are no sales or option exercises disclosed.