James P. Shaughnessy - Jun 17, 2024 Form 4 Insider Report for DOCUSIGN, INC. (DOCU)

Role: Chief Legal Officer
Signature: /s/ Derrick Chapman, Attorney-in-fact
Stock symbol: DOCU
Transactions as of: Jun 17, 2024
Transactions value $: $0
Form type: 4
Date filed: 6/17/2024, 08:13 PM
Previous filing: Jun 12, 2024
Next filing: Jul 9, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	DOCU	Common Stock	Options Exercise	$0	+23.3K	+68.83%	$0.00	57.2K	Jun 17, 2024	Direct
transaction	DOCU	Common Stock	Tax liability	$0	-10.8K	-18.9%	$0.00	46.4K	Jun 17, 2024	Direct	F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	DOCU	Restricted Stock Units	Options Exercise	$0	-10.2K	-22.58%	$0.00	35.1K	Jun 17, 2024	Common Stock	10.2K		Direct	F2, F3, F4
transaction	DOCU	Restricted Stock Units	Options Exercise	$0	-2.19K	-7.69%	$0.00	26.2K	Jun 17, 2024	Common Stock	2.19K		Direct	F2, F4, F5
transaction	DOCU	Restricted Stock Units	Options Exercise	$0	-2.93K	-10%	$0.00	26.4K	Jun 17, 2024	Common Stock	2.93K		Direct	F2, F4, F6
transaction	DOCU	Performance Stock Units	Options Exercise	$0	-2.14K	-33.33%	$0.00	4.29K	Jun 17, 2024	Common Stock	2.14K		Direct	F7, F8
transaction	DOCU	Performance Stock Units	Options Exercise	$0	-5.83K	-33.32%	$0.00	11.7K	Jun 17, 2024	Common Stock	5.83K		Direct	F7, F9

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
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.
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 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.
F4	The RSUs do not expire; they either vest or are cancelled 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 July 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.
F7	Each performance-vested restricted stock unit ("PSU") represents a contingent right to receive one share of the Issuer's common stock.
F8	The PSUs will vest depending on the Company's subscription revenue for the twelve-month period ended January 31, 2024 (the "One-Year 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.
F9	The PSUs will vest depending on the Company's free cash flow for the One-Year 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-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.