CS Disco EVP Disposes 10,552 Shares to Cover RSU Taxes; 233,949 Remain

Rhea-AI Filing Summary

Richard Francis Crum, EVP, Chief Product & Technology Officer of CS Disco, Inc. (LAW), reported a mandatory sale of 10,552 shares on 08/18/2025 to cover taxes and fees arising from the release of restricted stock units. The shares were sold in multiple transactions at prices ranging from $4.82 to $4.85, with a reported weighted-average price of $4.82. After the sale, the reporting person beneficially owned 233,949 shares. The filing also notes the purchase of 750 shares under the 2021 ESPP for the Feb 1, 2025 to Jul 31, 2025 purchase period at 85% of the July 31, 2025 closing price. The Form 4 was signed by an attorney-in-fact on 08/20/2025.

Positive

• Disclosure appears complete and timely, including weighted-average price and transaction range
• Reporting person retains substantial ownership after the sale: 233,949 shares
• Employee purchase participation noted: 750 shares acquired under the 2021 ESPP at 85% of the July 31, 2025 closing price

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Routine post-vesting tax-cover sale by an executive; compliance and disclosure appear complete and timely.

The Form 4 reports a standard mandatory sale to satisfy tax obligations from RSU vesting rather than a discretionary diversification or sale for liquidity. The disclosure includes the weighted-average price and the transaction range, and confirms continued significant ownership of 233,949 shares, which may align the executive with shareholder interests. No indications of unusual trading patterns, related-party transactions, or plan-based exceptions beyond the ESPP note are present. Overall, this is a routine Section 16 reporting event with limited governance implications.

Securities Analyst

TL;DR: Transaction is neutral for investors; sale was tax-driven and post-transaction ownership remains substantial.

The 10,552-share disposition at ~$4.82 per share is explicitly for tax-withholding on RSU settlement and therefore unlikely to signal executive view on valuation. The filing provides granularity on pricing and confirms 750 ESPP shares purchased at a 15% discount to the July 31, 2025 close, which is a normal employee benefit. Given the nature and size of the sale relative to remaining holdings, this Form 4 does not constitute material news for the company’s valuation or operations.

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
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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).

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^*

Crum Richard Francis

(Last) (First) (Middle)

111 CONGRESS AVE.

SUITE 900

(Street)

AUSTIN TX 78701

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
CS Disco, Inc. [ LAW ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP, Chief Prod & Tech Officer

3. Date of Earliest Transaction (Month/Day/Year)
08/18/2025

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	08/18/2025		S		10,552(1)	D	$4.82(2)	233,949(3)	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. Represents the aggregate number of shares sold by the Reporting Person as a result of a mandatory sale to cover taxes and fees due upon the release and settlement of restricted stock units. The Reporting Person did not sell or otherwise dispose of any of the shares reported on this Form 4 for any reason other than to cover required taxes and fees.

2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $4.82 to $4.85. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range.

3. Includes 750 shares purchased pursuant to the 2021 Employee Stock Purchase Plan ("ESPP"), for the purchase period of February 1, 2025 to July 31, 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 July 31, 2025.

Remarks:

	/s/ Michael S. Lafair, Attorney-in-Fact	08/20/2025
	** 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 did Richard Crum report on Form 4 filed for LAW?

He reported a mandatory sale of 10,552 shares on 08/18/2025 to cover taxes and fees from the release of restricted stock units.

At what price were the shares sold in the Form 4 for LAW?

The weighted-average price was $4.82 and individual sale prices ranged from $4.82 to $4.85.

How many shares does the reporting person own after the transaction?

233,949 shares beneficially owned following the reported transaction.

Were any employee plan purchases disclosed in the Form 4 for LAW?

Yes: 750 shares were purchased under the 2021 ESPP for the Feb 1, 2025 to Jul 31, 2025 period at 85% of the July 31, 2025 closing price.

Was the sale discretionary or mandatory according to the filing?

Mandatory: The filing states the shares were sold solely to cover required taxes and fees upon RSU release and settlement.