DocuSign (DOCU) CFO discloses RSU vesting, tax withholding and stock sales

Rhea-AI Filing Summary

DocuSign, Inc. Chief Financial Officer, identified as an officer of the company, reported multiple equity transactions in December 2025. On 12/15/2025, the CFO acquired 37,453 shares of common stock at $0 through the vesting and settlement of restricted stock units (RSUs) and performance stock units (PSUs), and 15,385 shares were withheld to cover tax obligations. Following these transactions, the CFO directly held 127,728 shares of common stock.

On 12/17/2025, the CFO sold 3,525 shares at an average price within a range of $67.31 to $68.29, and 5,990 shares at prices ranging from $68.33 to $69.05, under a pre-established Rule 10b5-1 trading plan. The filing also details ongoing RSU and PSU awards that vest over several years or based on DocuSign’s FY25 subscription revenue and free cash flow performance.

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).

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^*

GRAYSON BLAKE JEFFREY

(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 Financial Officer

3. Date of Earliest Transaction (Month/Day/Year)
12/15/2025

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	12/15/2025		M		37,453	A	$0	143,113	D
Common Stock	12/15/2025		F		15,385(1)	D	$0	127,728	D
Common Stock	12/17/2025		S		3,525(2)	D	$67.86(3)	124,203	D
Common Stock	12/17/2025		S		5,990(2)	D	$68.61(4)	118,213	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	(5)	12/15/2025		M			23,141	(6)	(7)	Common Stock	23,141	$0	138,847	D
Restricted Stock Units	(5)	12/15/2025		M			5,120	(8)	(7)	Common Stock	5,120	$0	51,192	D
Restricted Stock Units	(5)	12/15/2025		M			5,186	(9)	(7)	Common Stock	5,186	$0	41,484	D
Performance Stock Units	(10)	12/15/2025		M			1,659	(11)	(11)	Common Stock	1,659	$0	10,525	D
Performance Stock Units	(10)	12/15/2025		M			2,347	(12)	(12)	Common Stock	2,347	$0	6,402	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") and performance-vested restricted stock unit ("PSUs").

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 $67.31 to $68.29. 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 $68.33 to $69.05. 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. Each RSU represents a contingent right to receive one share of the Issuer's common stock.

6. The RSUs will vest in sixteen equal quarterly installments over four years, with a vesting commencement date of June 10, 2023, 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

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

8. 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.

9. 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.

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

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	12/17/2025
	** 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).
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FAQ

What insider transaction did DocuSign (DOCU) disclose in this Form 4?

The filing reports that DocuSign’s Chief Financial Officer acquired 37,453 shares of common stock upon vesting of equity awards on 12/15/2025, had 15,385 shares withheld to satisfy taxes, and then sold 3,525 shares and 5,990 shares on 12/17/2025 at prices in the high-$60 range.

How many DocuSign (DOCU) shares does the CFO hold after the reported transactions?

After the reported transactions, the CFO directly owned 127,728 shares of DocuSign common stock, as shown in the non-derivative securities table.

Were the DocuSign (DOCU) stock sales made under a Rule 10b5-1 plan?

Yes. The filing states that the sales of common stock on 12/17/2025 were effected pursuant to a Rule 10b5-1 plan adopted by the reporting person, which pre-schedules trades.

What tax-related transaction is disclosed for the DocuSign (DOCU) CFO?

The filing explains that 15,385 shares of common stock were withheld by DocuSign to satisfy a tax obligation realized upon vesting and settlement of RSUs and PSUs held by the CFO.

What equity awards for DocuSign (DOCU) does the CFO hold and how do they vest?

The CFO holds restricted stock units (RSUs) and performance stock units (PSUs). Certain RSUs vest in quarterly installments over four years, with different commencement dates, while PSUs can vest based on subscription revenue and free cash flow for the FY25 Performance Period, with payouts capped at 200% of target and vesting partly after the first anniversary and then quarterly.

At what prices were DocuSign (DOCU) shares sold by the CFO in this filing?

The filing notes two sale price ranges on 12/17/2025: $67.31 to $68.29 for the 3,525 shares sold and $68.33 to $69.05 for the 5,990 shares sold, with detailed breakdowns available upon request.