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DocuSign (DOCU) awards CEO stock units tied to FY29 revenue and cash flow goals

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Thygesen Allan C. reported acquisition or exercise transactions in this Form 4 filing.

DOCUSIGN, INC. reported equity compensation grants to President and CEO Allan C. Thygesen. He received 182,366 restricted stock units that vest in equal quarterly installments over three years starting on May 10, 2026, and 273,548 performance stock units that may vest based on subscription revenue and free cash flow goals over the FY29 Financial Performance Period, with any achieved PSUs vesting on June 10, 2029 and each unit representing one share of common stock.

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Insights

CEO received time-based and performance-based stock unit grants, aligning pay with future results.

President and CEO Allan C. Thygesen was granted 182,366 restricted stock units (RSUs) that vest quarterly over three years starting on May 10, 2026. Each RSU represents a right to receive one share of common stock if service continues through the vesting dates.

He was also granted 273,548 performance stock units (PSUs), split across awards that depend on subscription revenue goals and free cash flow goals over the FY29 Financial Performance Period. For each PSU program, the maximum vesting is capped at 200% of the target number, with any achieved PSUs vesting on June 10, 2029, contingent on continued service. These are non-market grants rather than open-market purchases or sales.

Insider Thygesen Allan C.
Role President and CEO
Type Security Shares Price Value
Grant/Award Restricted Stock Units 182,366 $0.00 --
Grant/Award Performance Stock Units 136,774 $0.00 --
Grant/Award Performance Stock Units 136,774 $0.00 --
Holdings After Transaction: Restricted Stock Units — 182,366 shares (Direct); Performance Stock Units — 136,774 shares (Direct)
Footnotes (1)
  1. Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock. The RSUs will vest in equal quarterly installments over three years, with a vesting commencement date of May 10, 2026, in each case subject to the Reporting Person being a service provider through such date. The RSUs do not expire; they either vest or are canceled prior to vesting date. Each performance stock unit ("PSU") represents a contingent right to receive one share of the Issuer's common stock. The PSUs will vest depending on the Issuer's achievement of subscription revenue goals over a three-year performance period (the "FY29 Financial Performance Period"), with the goals established at the beginning of the first, second and third 12-month periods during the FY29 Financial Performance Period. The maximum number of subscription revenue-based PSUs that may vest is capped at 200% of the target number of subscription revenue-based PSUs. 100% of any achieved subscription revenue-based PSUs will vest on June 10, 2029, subject to the Reporting Person's continued service with certain limited exceptions. PSUs do not expire; they either vest or are canceled prior to the vest date. The PSUs will vest depending on the Issuer's achievement of free cash flow goals over the FY29 Financial Performance Period, with the goals established at the beginning of the first, second and third 12-month periods during the FY29 Financial Performance Period. The maximum number of free cash flow-based PSUs that may vest is capped at 200% of the target number of free cash flow-based PSUs. 100% of any achieved free cash flow-based PSUs will vest on June 10, 2029, subject to the Reporting Person's continued service with certain limited exceptions.
Restricted Stock Units Granted 182,366 units Time-based RSUs granted to CEO, vesting quarterly over three years from May 10, 2026
Performance Stock Units Granted 273,548 units Total PSUs granted to CEO, tied to subscription revenue and free cash flow goals
PSU Vesting Cap 200% Maximum number of subscription revenue-based and free cash flow-based PSUs that may vest relative to target
RSU Vesting Start Date May 10, 2026 Vesting commencement date for quarterly RSU installments, subject to continued service
PSU Vesting Date June 10, 2029 Date when 100% of any achieved PSUs will vest, subject to continued service
Restricted Stock Units financial
"Each restricted stock unit ("RSU") represents a contingent right to receive one share"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
Performance Stock Units financial
"Each performance stock unit ("PSU") represents a contingent right to receive one share"
Performance stock units are a type of company award that grants employees shares of stock only if certain performance goals are met. They motivate employees to work toward specific company achievements, aligning their interests with those of shareholders. For investors, they can influence a company's future stock supply and reflect management’s confidence in reaching key targets.
FY29 Financial Performance Period financial
"over a three-year performance period (the "FY29 Financial Performance Period")"
subscription revenue goals financial
"PSUs will vest depending on the Issuer's achievement of subscription revenue goals"
free cash flow goals financial
"PSUs will vest depending on the Issuer's achievement of free cash flow goals"
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FAQ

What stock awards did DOCU CEO Allan C. Thygesen receive in this Form 4?
Allan C. Thygesen received 182,366 restricted stock units and 273,548 performance stock units. Each unit represents a contingent right to receive one share of DOCUSIGN, INC. common stock, subject to vesting conditions.

How do the DOCU restricted stock units granted to the CEO vest?
The CEO’s 182,366 RSUs vest in equal quarterly installments over three years. Vesting begins on May 10, 2026 and requires that he remain a service provider through each vesting date.

What performance goals affect DOCU CEO Allan Thygesen’s performance stock units?
The performance stock units vest based on subscription revenue goals and free cash flow goals over the FY29 Financial Performance Period, with goals set at the start of each 12‑month period within that timeframe.

What is the maximum number of DOCU performance stock units that can vest for the CEO?
For both subscription revenue-based and free cash flow-based PSUs, the maximum vesting is capped at 200% of the target number. Any PSUs earned under these caps will vest in full on June 10, 2029 if service continues.

Do the DOCU RSUs and PSUs reported for the CEO expire if they do not vest?
The filing states that RSUs and PSUs do not expire. Instead, they either vest according to their schedules and conditions or are canceled prior to the applicable vesting date if conditions are not satisfied.

When will any achieved DOCU performance stock units for the CEO actually vest?
Any performance stock units achieved under the subscription revenue and free cash flow programs will vest 100% on June 10, 2029, subject to Allan C. Thygesen’s continued service, with limited exceptions described in the award terms.
SEC Form 4
FORM 4UNITED 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
Estimated average burden
hours per response:0.5
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*
Thygesen Allan C.
(Last)(First)(Middle)
C/O DOCUSIGN, INC.
221 MAIN STREET, SUITE 800
(Street)
SAN FRANCISCO CALIFORNIA 94105
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
DOCUSIGN, INC. [ DOCU ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XDirector10% Owner
XOfficer (give title below)Other (specify below)
President and CEO
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
07/09/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

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)
CodeVAmount(A) or (D)Price
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Restricted Stock Units(1)07/09/2026A182,366 (2) (3)Common Stock182,366$0182,366D
Performance Stock Units(4)07/09/2026A136,774 (5) (6)Common Stock136,774$0136,774D
Performance Stock Units(4)07/09/2026A136,774 (7) (6)Common Stock136,774$0136,774D
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 equal quarterly installments over three years, with a vesting commencement date of May 10, 2026, in each case subject to the Reporting Person being a service provider through such date.
3. The RSUs do not expire; they either vest or are canceled prior to vesting date.
4. Each performance stock unit ("PSU") represents a contingent right to receive one share of the Issuer's common stock.
5. The PSUs will vest depending on the Issuer's achievement of subscription revenue goals over a three-year performance period (the "FY29 Financial Performance Period"), with the goals established at the beginning of the first, second and third 12-month periods during the FY29 Financial Performance Period. The maximum number of subscription revenue-based PSUs that may vest is capped at 200% of the target number of subscription revenue-based PSUs. 100% of any achieved subscription revenue-based PSUs will vest on June 10, 2029, subject to the Reporting Person's continued service with certain limited exceptions.
6. PSUs do not expire; they either vest or are canceled prior to the vest date.
7. The PSUs will vest depending on the Issuer's achievement of free cash flow goals over the FY29 Financial Performance Period, with the goals established at the beginning of the first, second and third 12-month periods during the FY29 Financial Performance Period. The maximum number of free cash flow-based PSUs that may vest is capped at 200% of the target number of free cash flow-based PSUs. 100% of any achieved free cash flow-based PSUs will vest on June 10, 2029, subject to the Reporting Person's continued service with certain limited exceptions.
Remarks:
/s/ Derrick Chapman, Attorney-in-fact07/10/2026
** Signature of Reporting PersonDate
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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR