Docusign (DOCU) CEO exercises equity awards and covers taxes with company shares

Rhea-AI Filing Summary

Docusign, Inc. President and CEO Allan C. Thygesen reported multiple equity award vestings and conversions on March 15, 2026. He exercised restricted stock units and performance stock units into 65,560 shares of common stock. To cover tax obligations on these vestings, 29,334 shares were withheld by the company, a non-market disposition.

Following these transactions, Thygesen directly holds 178,487 shares of Docusign common stock. The RSUs vest in quarterly installments over four-year schedules starting on October 10, 2022, May 10, 2023, May 10, 2024, and May 10, 2025. The PSUs vest based on Docusign’s subscription revenue and free cash flow performance for the FY24 and FY25 performance periods, with potential vesting up to 200% of target if performance conditions are fully achieved.

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

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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^*

Thygesen Allan C.

(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
X	Officer (give title below)		Other (specify below)
	President and CEO

3. Date of Earliest Transaction (Month/Day/Year)
03/15/2026

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	03/15/2026		M		65,560	A	$0	207,821	D
Common Stock	03/15/2026		F		29,334(1)	D	$0	178,487	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	(2)	03/15/2026		M			11,497	(3)	(4)	Common Stock	11,497	$0	34,492	D
Restricted Stock Units	(2)	03/15/2026		M			8,749	(5)	(4)	Common Stock	8,749	$0	43,745	D
Restricted Stock Units	(2)	03/15/2026		M			10,466	(6)	(4)	Common Stock	10,466	$0	94,194	D
Restricted Stock Units	(2)	03/15/2026		M			10,601	(7)	(4)	Common Stock	10,601	$0	74,211	D
Performance Stock Units	(8)	03/15/2026		M			3,215	(9)	(9)	Common Stock	3,215	$0	3,214	D
Performance Stock Units	(8)	03/15/2026		M			8,750	(10)	(10)	Common Stock	8,750	$0	8,750	D
Performance Stock Units	(8)	03/15/2026		M			5,087	(11)	(11)	Common Stock	5,087	$0	27,191	D
Performance Stock Units	(8)	03/15/2026		M			7,195	(12)	(12)	Common Stock	7,195	$0	12,433	D

Explanation of Responses:

1. Represents shares withheld by the Issuer to satisfy a tax obligation realized by the Reporting Person upon the vesting and settlement of restricted stock units ("RSUs") or performance-vested restricted stock units ("PSUs").

2. Each RSU represents a contingent right to receive one share of the Issuer's common stock.

3. The RSUs will vest in equal quarterly installments over four years, with a vesting commencement date of October 10, 2022, in each case subject to the Reporting Person being a service provider through each such date. The RSUs are subject to accelerated vesting in the event of a termination of employment of the Reporting Person including under certain circumstances following a change in control of the Issuer.

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

5. The RSUs will vest in equal quarterly installments over four years, with a vesting commencement date of May 10, 2023, in each case subject to the reporting person being a service provider through such date.

6. The RSUs will vest in equal quarterly installments over four years, with a vesting commencement date of May 10, 2024, in each case subject to the reporting person being a service provider through such date.

7. The RSUs will vest quarterly over a four year period commencing May 10, 2025, with 40% vesting during year 1, 35% vesting during year 2, 15% vesting during year 3, and 10% vesting during year 4, in each case subject to the Reporting Person being a service provider through each such date.

8. Each PSU represents a contingent right to receive one share of the Issuer's common stock.

9. The PSUs will vest depending on the Company's subscription revenue for the twelve-month period ended January 31, 2024 (the "FY24 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. To the extent achieved, 1/3 of any achieved subscription revenue-based PSUs will vest following the one-year anniversary of the date of grant and the balance will vest in eight equal quarterly installments thereafter, subject to continued service with certain limited exceptions.

10. The PSUs will vest depending on the Company's free cash flow for the FY24 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. To the extent achieved, 1/3 of any achieved free cash flow-based PSUs will vest following the one-year anniversary of the date of grant and the balance will vest in eight equal quarterly installments thereafter, subject to continued service with certain limited exceptions.

11. The PSUs will vest depending on the Company's subscription revenue for the twelve-month period ended January 31, 2025 (the "FY25 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. To the extent achieved, 1/3 of any achieved subscription revenue-based PSUs will vest following the one-year anniversary of the vesting commencement date and the balance will vest in eight equal quarterly installments thereafter, subject to continued service with certain limited exceptions.

12. The PSUs will vest depending on the Company's free cash flow for the FY25 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. To the extent achieved, 1/3 of any achieved free cash flow-based PSUs will vest following the one-year anniversary of the vesting commencement date and the balance will vest in eight equal quarterly installments thereafter, subject to continued service with certain limited exceptions.

Remarks:

	/s/ Derrick Chapman, Attorney-in-fact	03/17/2026
	** Signature of Reporting Person	Date
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FAQ

What did Docusign (DOCU) CEO Allan Thygesen report in this Form 4 filing?

Allan Thygesen reported vesting and conversion of restricted stock units and performance stock units into 65,560 Docusign common shares. He also reported 29,334 shares withheld by the company to satisfy tax obligations, leaving him with 178,487 directly held shares after the transactions.

How many Docusign (DOCU) shares does the CEO hold after these equity transactions?

After the reported vesting and related tax withholding, Allan Thygesen directly holds 178,487 Docusign common shares. This reflects 65,560 shares issued from vested RSUs and PSUs, offset by 29,334 shares withheld by the issuer to cover tax liabilities triggered by the vesting.

Were there any open-market buys or sells by the Docusign (DOCU) CEO in this Form 4?

No open-market purchases or sales were reported. The filing shows exercises of equity awards (RSUs and PSUs) using code “M” and a tax-withholding disposition using code “F,” where 29,334 shares were withheld by Docusign to cover taxes rather than sold on the open market.

How do the Docusign (DOCU) CEO’s restricted stock units vest over time?

The CEO’s RSUs vest in equal quarterly installments over four years, starting on October 10, 2022, May 10, 2023, May 10, 2024, and May 10, 2025. Vesting requires that he remain a service provider through each vesting date, with some provisions for accelerated vesting.

What performance conditions affect the Docusign (DOCU) CEO’s performance stock units (PSUs)?

The PSUs vest based on Docusign’s subscription revenue and free cash flow for the FY24 and FY25 performance periods. If targets are achieved, up to 200% of the target PSUs may vest, with one-third vesting after one year and the rest in eight quarterly installments.

Why were 29,334 Docusign (DOCU) shares withheld from the CEO in this filing?

The 29,334 shares were withheld by Docusign to satisfy tax obligations triggered when the CEO’s RSUs and PSUs vested. This tax-withholding disposition, coded “F,” is a standard mechanism and does not represent an open-market sale of shares by the executive.