DocuSign CEO receives 67K shares as awards vest
DocuSign’s CEO received common shares from vesting RSUs and PSUs, with a portion of the stock withheld to cover tax obligations.
Rhea-AI Filing Summary
DOCUSIGN, INC. (DOCU) reported that President and CEO Allan C. Thygesen settled equity awards on September 15, 2026. Multiple tranches of RSUs and PSUs converted into an aggregate of 67,467 shares of common stock, and 33,454 shares of common stock were withheld to satisfy tax obligations related to these vestings. No Rule 10b5-1 trading plan is reported.
Positive
- None.
Negative
- None.
Insider Trade Summary
67,467 shares exercised/converted
Exercise
9 txns
Insider
Thygesen Allan C.
Role
President and CEO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units F2, F3, F4 | 11,497 | $0.00 | $0.00 |
| Exercise | Restricted Stock Units F2, F5, F4 | 8,749 | $0.00 | $0.00 |
| Exercise | Restricted Stock Units F2, F6, F4 | 10,466 | $0.00 | $0.00 |
| Exercise | Restricted Stock Units F2, F7, F4 | 9,276 | $0.00 | $0.00 |
| Exercise | Restricted Stock Units F2, F8 | 15,197 | $0.00 | $0.00 |
| Exercise | Performance Stock Units F9, F10 | 5,086 | $0.00 | $0.00 |
| Exercise | Performance Stock Units F9, F11 | 7,196 | $0.00 | $0.00 |
| Exercise | Common Stock | 67,467 | $0.00 | $0.00 |
| Tax Withholding | Common Stock F1 | 33,454 | $0.00 | $0.00 |
Holdings After Transaction:
Restricted Stock Units — 332,509 contracts (Direct);
Performance Stock Units — 17,018 contracts (Direct);
Common Stock — 193,051 shares (Direct)
Footnotes (11)
- F1. 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").
- F2. Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock.
- F3. 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.
- F4. The RSUs do not expire; they either vest or are canceled prior to vesting date.
- F5. 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.
- F6. 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.
- F7. 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.
- F8. 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.
- F9. Each performance stock unit ("PSU") represents a contingent right to receive one share of the Issuer's common stock.
- F10. 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 date of grant and the balance will vest in eight equal quarterly installments thereafter, subject to continued service with certain limited exceptions.
- F11. 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.
Key Figures
Common shares acquired from RSU/PSU vesting: 67,467 shares
Shares withheld for tax obligations: 33,454 shares
RSUs converted: 55,185 units
+3 more
6 metrics
Common shares acquired from RSU/PSU vesting
67,467 shares
Shares of DocuSign common stock issued to the CEO on September 15, 2026 from equity award settlements
Shares withheld for tax obligations
33,454 shares
Common shares withheld by DocuSign to satisfy the CEO’s tax liability upon vesting
RSUs converted
55,185 units
Total RSUs that converted into an equal number of common shares across five tranches on September 15, 2026
PSUs converted
12,282 units
Total PSUs that converted into an equal number of common shares in two performance-based tranches
RSU vesting start (one grant)
October 10, 2022
One RSU grant vests in equal quarterly installments over four years from this date, subject to continued service
PSU performance period end
January 31, 2025
Subscription revenue and free cash flow PSUs depend on performance for the FY25 Performance Period ending this date
Key Terms
Restricted Stock Units, Performance Stock Units, subscription revenue, free cash flow, +1 more
5 terms
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.
subscription revenue financial
"The PSUs will vest depending on the Company's subscription revenue for the twelve-month period"
Payments a company receives on a regular schedule from customers who pay to access a product or service over time, like a magazine or gym membership fee. Investors care because these recurring payments create more predictable sales and cash flow, make future revenue easier to forecast, and indicate customer loyalty; changes in subscription growth or churn can quickly affect a company’s valuation and financial health.
free cash flow financial
"The PSUs will vest depending on the Company's free cash flow for the FY25 Performance Period"
Free cash flow is the amount of money a company has left over after paying all its expenses and investing in its business, like buying equipment or updating facilities. It shows how much cash is available to reward shareholders, pay down debt, or save for future growth. This helps investors understand if a company is financially healthy and able to grow.
change in control regulatory
"subject to accelerated vesting in the event of a termination of employment ... following a change in control"
A "change in control" occurs when the ownership or management of a company shifts significantly, such as through a merger, acquisition, or sale of a large part of its assets. This change can impact how the company is run and may influence its future direction. For investors, it matters because it can affect the company's stability, strategy, and value, often signaling potential changes in investment risk or opportunity.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did DOCU disclose about CEO Allan C. Thygesen’s stock awards on this Form 4?
DOCUSIGN, INC. reported that CEO Allan C. Thygesen had several RSU and PSU awards vest on September 15, 2026, converting into 67,467 shares of common stock, with some of those shares withheld to cover associated tax obligations.
Were Allan C. Thygesen’s DOCU transactions made under a Rule 10b5-1 plan?
The Form 4 indicates the Rule 10b5-1 checkbox is not marked and the footnotes do not describe a trading plan, so no Rule 10b5-1 plan is reported for these transactions.
What types of equity awards for DOCU’s CEO vested in this Form 4 event?
The report covers vesting and settlement of Restricted Stock Units (RSUs) and Performance Stock Units (PSUs), each converting into an equal number of DocuSign common shares, subject to service- and performance-based vesting conditions.
Do the RSUs and PSUs reported by DOCU have an exercise price?
No cash exercise price is reported. Each RSU and PSU represents a contingent right to receive one share of DocuSign common stock upon vesting, with the Form 4 showing a price of $0.00 per share for these conversions.
AI-generated analysis. How Rhea-AI works. Not financial advice.
