06/17/2025 | Press release | Distributed by Public on 06/17/2025 16:03
FORM 4
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES 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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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
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 control number. | SEC 1474 (9-02) |
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 Underlying Securities (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 of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr. 4) |
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Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Restricted Stock Units | (2) | 06/15/2025 | M | 23,142 | (3) | (4) | Common Stock | 23,142 | $ 0 | 185,129 | D | ||||
Restricted Stock Units | (2) | 06/15/2025 | M | 23,142 | (5) | (4) | Common Stock | 23,142 | $ 0 | 0 | D | ||||
Restricted Stock Units | (2) | 06/15/2025 | M | 5,119 | (6) | (4) | Common Stock | 5,119 | $ 0 | 61,431 | D | ||||
Performance Stock Units | (7) | 06/15/2025 | M | 6,633 | (8) | (8) | Common Stock | 6,633 | $ 0 | 13,843 | D | ||||
Performance Stock Units | (7) | 06/15/2025 | M | 9,382 | (9) | (9) | Common Stock | 9,382 | $ 0 | 11,094 | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
GRAYSON BLAKE JEFFREY C/O DOCUSIGN, INC. 221 MAIN STREET, SUITE 1550 SAN FRANCISCO, CA 94105 |
Chief Financial Officer |
/s/ Lisa Yun, Attorney-in-fact | 06/17/2025 | |
**Signature of Reporting Person | Date |
* | 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). |
(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) | Each RSU represents a contingent right to receive one share of the Issuer's common stock. |
(3) | 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 |
(4) | The RSUs do not expire; they either vest or are canceled prior to vesting date. |
(5) | Twenty-five percent of the total RSUs granted shall vest on September 10, 2024, and then balance of the RSUs shall vest twenty-five percent in three successive equal quarterly installments until fully vested on June 10, 2025, in each case subject to the reporting person being a service provider through each such date. |
(6) | 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. |
(7) | Each PSU represents a contingent right to receive one share of the Issuer's common stock. |
(8) | 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 date of grant and the balance will vest in eight equal quarterly installments thereafter, subject to continued service with certain limited exceptions. |
(9) | 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 date of grant and the balance will vest in eight equal quarterly installments thereafter, subject to continued service with certain limited exceptions. |