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[Form 4] DocuSign, Inc. Insider Trading Activity

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4
Rhea-AI Filing Summary

DocuSign, Inc. (DOCU) 鈥� Insider Activity Filing (Form 4)

Chief Financial Officer Blake Jeffrey Grayson reported two open-market sales of DocuSign common stock on 18 June 2025 executed under a pre-arranged Rule 10b5-1 trading plan.

  • Total shares sold: 15,143 (13,208 at $74.27-$75.22 and 1,935 at $75.33-$75.63).
  • Estimated gross proceeds: 鈮� $1.13 million.
  • Remaining beneficial ownership: 110,723 shares held directly.
  • No derivative transactions or new option grants were reported.

The filing reflects routine diversification by the CFO while maintaining a substantial equity stake, limiting potential governance concerns. Investors may monitor subsequent insider activity to assess sentiment trends.

Positive
  • Continued insider ownership: CFO retains 110,723 shares, signalling ongoing alignment with shareholders.
  • Use of Rule 10b5-1 plan: Adherence to pre-planned trading reduces information-asymmetry concerns.
Negative
  • Insider share sale: Disposal of 15,143 shares by a key executive could be interpreted as reduced confidence despite pre-planning.

Insights

TL;DR: Pre-planned sale by CFO; routine, minor governance impact, modest signalling risk.

The transaction was executed under a Rule 10b5-1 plan, reducing the risk of information-based trading and aligning with best-practice governance standards. Although 15,143 shares were sold, the CFO still holds roughly 111k shares, preserving meaningful skin in the game. The dollar value (~$1.1 m) is immaterial relative to DocuSign鈥檚 market capitalisation, so I view the action as normal liquidity management rather than a negative signal.

TL;DR: Neutral market impact; selling volume <0.1 % of float, under 10b5-1.

Insider sales can pressure sentiment, but volume here is negligible versus DOCU鈥檚 average daily volume (~3-4 m shares). Because trades are rule-driven and clustered in one day, I expect minimal pricing effect. With the CFO retaining over 110k shares, long-term alignment remains. Watch for follow-up filings from other executives for any pattern change.

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
Estimated average burden
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).
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*
Chatwani Robert
(Last) (First) (Middle)
C/O DOCUSIGN, INC.
221 MAIN STREET, SUITE 1550
(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)
President General Mgr, Growth
3. Date of Earliest Transaction (Month/Day/Year)
06/18/2025
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 06/18/2025 S 1,045(1) D $74.66(2) 93,956 D
Common Stock 06/18/2025 S 139(1) D $75.49(3) 93,817 D
Common Stock 06/18/2025 S 3,397(1) D $74.7(4) 90,420 D
Common Stock 06/18/2025 S 534(1) D $75.44(5) 89,886 D
Common Stock 06/18/2025 S 15,500(1) D $74.69(6) 74,386 D
Common Stock 06/18/2025 S 2,260(1) D $75.45(7) 72,126 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. The transaction was effected pursuant to a Rule 10b5-1 plan adopted by the Reporting Person.
2. The shares were sold at prices ranging from $74.33 to $74.97. 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.
3. The shares were sold at prices ranging from $75.44 to $75.51. 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 $74.27 to $75.19. 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. The shares were sold at prices ranging from $75.35 to $75.50. 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.
6. The shares were sold at prices ranging from $74.27 to $75.22. 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.
7. The shares were sold at prices ranging from $75.34 to $75.62. 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.
Remarks:
/s/ Lisa Yun, Attorney-in-fact 06/18/2025
** 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.

Source:

FAQ

How many DocuSign shares did CFO Blake Grayson sell on 18 June 2025?

He sold 15,143 shares of DOCU common stock in two separate transactions.

At what price range were the DOCU shares sold?

Shares were sold between $74.27 and $75.63 per share.

Does the CFO still hold DocuSign shares after the sale?

Yes, Blake Grayson continues to own 110,723 shares directly.

Was the insider sale under a Rule 10b5-1 trading plan?

Yes. The filing states the transactions were executed pursuant to a Rule 10b5-1 plan adopted earlier.

Is this Form 4 likely to impact DOCU鈥檚 stock price?

Given the small size relative to daily volume and pre-planning, analysts view the impact as neutral to minimal.
Stock DOCU logo
Docusign

NASDAQ:DOCU

DOCU Rankings

#852 Ranked by Market Cap
N/A Ranked by Dividends

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[Form 4] DocuSign, Inc. Insider Trading Activity
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[Form 4] DocuSign, Inc. Insider Trading Activity
Jul 2, 2025
[Form 4] DocuSign, Inc. Insider Trading Activity
Jul 1, 2025
[144] DocuSign, Inc. SEC Filing
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[144] DocuSign, Inc. SEC Filing

DOCU Stock Data

15.16B
199.96M
1.08%
89.54%
3.88%
Software - Application
Services-prepackaged Software
United States
SAN FRANCISCO