DocuSign (DOCU) legal chief nets more shares after 20966 RSUs/PSUs vest

Rhea-AI Filing Summary

DOCUSIGN, INC. Chief Legal Officer James P. Shaughnessy reported the vesting and settlement of equity awards into common stock. On March 15, 2026, he exercised restricted stock units and performance stock units that delivered 20966 shares of common stock. To cover tax obligations from these vestings, 9885 shares were withheld by the company, a non-market disposition. After these transactions, Shaughnessy directly holds 65631 shares of DocuSign common stock. The filing reflects routine equity compensation vesting rather than open-market buying or selling.

Insights

Equity Compensation Analyst

Routine vesting of RSUs/PSUs with tax withholding, no open‑market trades.

The reporting officer exercised and settled equity awards that had already been granted, converting restricted stock units and performance stock units into 20966 shares of DocuSign common stock. This is standard equity compensation mechanics, not new option grants or cash purchases.

To satisfy tax obligations triggered by vesting, 9885 shares were withheld by the issuer, as described in the footnotes. This F‑code disposition is not an open‑market sale and does not signal a discretionary decision to sell. Following these transactions, the officer directly holds 65631 shares, indicating the net result is an increased equity stake.

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

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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^*

Shaughnessy James P

(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 Legal Officer

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		20,966	A	$0	75,516	D
Common Stock	03/15/2026		F		9,885(1)	D	$0	65,631	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			4,391	(3)	(4)	Common Stock	4,391	$0	4,392	D
Restricted Stock Units	(2)	03/15/2026		M			2,931	(5)	(4)	Common Stock	2,931	$0	5,864	D
Restricted Stock Units	(2)	03/15/2026		M			2,188	(6)	(4)	Common Stock	2,188	$0	10,936	D
Restricted Stock Units	(2)	03/15/2026		M			3,370	(7)	(4)	Common Stock	3,370	$0	30,332	D
Restricted Stock Units	(2)	03/15/2026		M			3,457	(8)	(4)	Common Stock	3,457	$0	24,199	D
Performance Stock Units	(9)	03/15/2026		M			535	(10)	(10)	Common Stock	535	$0	536	D
Performance Stock Units	(9)	03/15/2026		M			1,458	(11)	(11)	Common Stock	1,458	$0	1,460	D
Performance Stock Units	(9)	03/15/2026		M			1,092	(12)	(12)	Common Stock	1,092	$0	5,836	D
Performance Stock Units	(9)	03/15/2026		M			1,544	(13)	(13)	Common Stock	1,544	$0	2,671	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 35% on the one year anniversary of the grant date, 35% in equal quarterly installments after year one, 15% in equal quarterly installments after year two, and 15% in equal quarterly installments after year 3, with a vesting commencement date of June 10, 2022, in each case subject to the Reporting Person being a service provider through each such date. The restricted stock units 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 July 10, 2022, in each case subject to the Reporting Person being a service provider through each such date. The restricted stock units 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.

6. 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.

7. 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.

8. 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.

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

10. 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 the 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.

11. 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.

12. 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.

13. 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
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) report for James P. Shaughnessy?

DocuSign reported that Chief Legal Officer James P. Shaughnessy had previously granted restricted stock units and performance stock units vest and settle into 20966 shares of common stock. These transactions reflect equity compensation vesting, not open‑market purchases or sales of DOCU shares.

Did the DOCUSIGN (DOCU) insider sell shares in the open market?

The filing shows no open‑market sales. Instead, 9885 shares of common stock were withheld by DocuSign to satisfy tax obligations arising from the vesting of RSUs and PSUs, a standard tax‑withholding mechanism rather than a discretionary sale into the market.

How many DOCUSIGN (DOCU) shares does the insider own after these transactions?

After the vesting, settlement, and tax withholding, Chief Legal Officer James P. Shaughnessy directly holds 65631 shares of DocuSign common stock. This figure reflects his updated post‑transaction ownership, incorporating both the newly delivered shares and those withheld for taxes.

What types of equity awards vested for the DOCUSIGN (DOCU) insider?

The transactions involve both restricted stock units (RSUs) and performance stock units (PSUs). Each RSU or PSU represents a contingent right to receive one share of DocuSign common stock upon meeting time‑based or performance‑based vesting conditions described in the footnotes.

How are the performance stock units for DOCUSIGN (DOCU) structured?

The performance stock units vest based on DocuSign’s subscription revenue and free cash flow for specified FY24 and FY25 performance periods. Up to 200% of target PSUs may vest, with earned units generally vesting over time after the performance period.

Why were 9885 DOCUSIGN (DOCU) shares withheld from the insider?

According to the footnotes, 9885 shares of DocuSign common stock were withheld by the issuer to satisfy tax obligations triggered by the vesting and settlement of RSUs and PSUs. This is a non‑market, administrative disposition rather than an elective share sale.