DOCU Form 4: 729 RSUs Granted to Director Hayes Cain A with Quarterly Vesting

Rhea-AI Filing Summary

Director Hayes Cain A received equity awards tied to DocuSign, Inc. common stock on 08/29/2025. The filing reports an acquisition of 729 restricted stock units (RSUs) that represent the right to one share each and a separate line showing 729 shares of common stock acquired at $0. After the transactions, the reporting person is shown as beneficially owning 13,530 shares of common stock (direct) and 2,187 RSUs (derivative) following the reported transactions. The RSUs have a vest commencement date of May 29, 2025 and vest in equal quarterly installments over one year, with the fourth installment accelerating to the earlier of the next annual meeting or the one-year anniversary, subject to continued service. The RSUs do not expire.

Positive

• Director received time-based RSUs that align interests with shareholders via continued service
• Vesting schedule is explicit: quarterly over one year with clear acceleration condition

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: A routine director equity grant to align interests, with time-based quarterly vesting and standard service condition.

The 729 RSUs awarded to a director reflect a common practice of using time-based equity to align executive and director incentives with shareholders. The vesting schedule—quarterly over one year with acceleration for the next annual meeting—is explicitly disclosed and ties final vesting to continued service or a governance milestone. Reported beneficial ownership balances clarify how much common stock and unvested equity remain outstanding for the reporting person. No unusual terms or expiration are disclosed.

Securities Analyst

TL;DR: Small incremental insider grant; likely immaterial to equity base but increases director’s stake modestly.

The filing shows acquisition entries for 729 RSUs and 729 common-stock-equivalent units at no cash price, increasing the reporting person's direct and derivative holdings to the disclosed totals. For investors, the award size is small relative to typical public-company float and appears to be standard compensation rather than a transaction indicating material insider sentiment. The clear vesting schedule helps assess potential future dilution timing.

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

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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^*

Hayes Cain A

(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)
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	13,530	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)	(3)	Common Stock	729	$0	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 vest 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.

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

Remarks:

	/s/ Derrick Chapman, Attorney-in-fact	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

What did Hayes Cain A report on DocuSign (DOCU) Form 4?

The report discloses an acquisition of 729 RSUs and a corresponding record of 729 common stock acquired at $0 on 08/29/2025, with updated beneficial ownership totals.

How many shares does the reporting person beneficially own after the transactions?

The filing shows 13,530 shares of common stock (direct) and 2,187 RSUs (derivative) beneficially owned following the reported transactions.

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

The RSUs have a vest commencement date of May 29, 2025 and vest in equal quarterly installments over one year; the fourth installment vests earlier if the company's next annual meeting occurs first, subject to continued service.

Do the RSUs expire if not vested?

No expiration is disclosed; the filing states the RSUs do not expire and are either vested or canceled prior to vesting.

Was cash paid for the RSUs or shares in this transaction?

The reported price for the acquisitions is $0, indicating no cash purchase price was paid for these RSUs/units.