[Form 4] DOCUSIGN, INC. Insider Trading Activity

Rhea-AI Filing Summary

Reporting person: Paula Hansen, Chief Revenue Officer at DocuSign, Inc. (DOCU). The filing shows an ESPP purchase and several sales under a Rule 10b5-1 plan. On 10/03/2025 Ms. Hansen acquired 245 shares through the 2018 Employee Stock Purchase Plan at an effective price of $59.27 per share. On 10/07/2025 she sold a total of 6,000 shares in three transactions at weighted prices in the $70.23–$72.80 range, reducing her beneficially owned shares from 64,968 to 58,968. The sales are reported as made pursuant to a Rule 10b5-1 plan and price ranges per tranche are disclosed in the remarks.

Positive

• ESPP participation: Acquired 245 shares at $59.27 on 10/03/2025
• Use of Rule 10b5-1 plan: Sales reported as executed under a 10b5-1 plan, indicating pre-planned transactions

Negative

• Net reduction in holdings: Beneficial ownership fell from 64,968 to 58,968 shares after the sales on 10/07/2025
• Material sales size: Sold 6,000 shares at prices ranging up to $72.80, which is a notable disposition of insider stock

Insights

Corporate Governance Analyst

Insider executed routine ESPP purchase then systematically sold shares under a 10b5-1 plan.

Acquiring 245 shares via the ESPP at $59.27 reflects participation in the company compensation program; this is a routine, non-discretionary purchase tied to the plan's purchase period ending 10/03/2025. The subsequent disposals of 6,000 shares on 10/07/2025 occurred under a stated Rule 10b5-1 trading plan, which aims to provide an affirmative defense to insider trading claims when properly adopted.

Key dependencies include the established 10b5-1 plan terms and execution timing; the filing discloses price ranges ($70.23–$72.80) but not exact share counts per price in the body, though the filer offers to provide that detail on request. Monitor ongoing Form 4 filings for further planned disposals or purchases over the next quarters.

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
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).

X

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^*

Hansen Paula

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Revenue Officer

3. Date of Earliest Transaction (Month/Day/Year)
10/07/2025

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	10/03/2025		A	V	245(1)	A	$59.27	64,968	D
Common Stock	10/07/2025		S		3,051(2)	D	$70.65(3)	61,917	D
Common Stock	10/07/2025		S		1,734(2)	D	$71.67(4)	60,183	D
Common Stock	10/07/2025		S		1,215(2)	D	$72.54(5)	58,968	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

Explanation of Responses:

1. Shares acquired pursuant to the Docusign, Inc. 2018 Employee Stock Purchase Plan ("ESPP"), for the ESPP purchase period of April 7, 2025, through October 3, 2025. In accordance with the ESPP, these shares were purchased at a price equal to 85% of the closing price of the issuer's common stock on October 3, 2025.

2. The transaction was effected pursuant to a Rule 10b5-1 plan adopted by the Reporting Person.

3. The shares were sold at prices ranging from $70.23 to $71.19. The Reporting Person will provide upon request to the SEC, the Issuer or security holder of the Issuer, full information regarding the number of shares sold at each separate price.

4. The shares were sold at prices ranging from $71.24 to $72.22. The Reporting Person will provide upon request to the SEC, the Issuer or security holder of the Issuer, full information regarding the number of shares sold at each separate price.

5. The shares were sold at prices ranging from $72.24 to $72.80. The Reporting Person will provide upon request to the SEC, the Issuer or security holder of the Issuer, full information regarding the number of shares sold at each separate price.

Remarks:

	/s/ Derrick Chapman, Attorney-in-fact	10/08/2025
	** 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 transactions did Paula Hansen report on Form 4 for DOCU?

The filing reports an ESPP purchase of 245 shares at $59.27 on 10/03/2025 and sales of 6,000 shares on 10/07/2025 under a Rule 10b5-1 plan at prices between $70.23 and $72.80.

How did Hansen’s ownership change after these transactions?

Beneficial ownership decreased from 64,968 shares to 58,968 shares following the reported transactions.

Were the sales discretionary or part of a pre-arranged plan?

The sales are reported as executed pursuant to a Rule 10b5-1 plan, indicating they were pre-arranged rather than discretionary trades.

What price did Hansen pay for the ESPP shares?

The ESPP shares were purchased at $59.27 per share, equal to 85% of the closing price per the ESPP terms on 10/03/2025.

Does the Form 4 disclose exact per-trade share counts at each sale price?

No; the filing states sales occurred within price ranges for each tranche and offers to provide exact per-price share counts upon request.