Shute Stephen 4
4 · DOCUSIGN, INC. · Filed Jun 17, 2024
Insider Transaction Report
Form 4
DOCUSIGN, INC.DOCU
Shute Stephen
President, Field Operations
Transactions
- Exercise/Conversion
Restricted Stock Units
2024-06-17−4,922→ 59,055 total→ Common Stock (4,922 underlying) - Exercise/Conversion
Performance Stock Units
2024-06-17−4,823→ 9,645 total→ Common Stock (4,823 underlying) - Exercise/Conversion
Performance Stock Units
2024-06-17−13,122→ 26,248 total→ Common Stock (13,122 underlying) - Exercise/Conversion
Common Stock
2024-06-17+47,296→ 56,255 total - Tax Payment
Common Stock
2024-06-17−20,995→ 35,300 total - Exercise/Conversion
Restricted Stock Units
2024-06-17−24,429→ 195,436 total→ Common Stock (24,429 underlying)
Footnotes (8)
- [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 25% over the first year, while the remaining will vest in twelve (12) equal quarterly installments over three years, with a vesting commencement date of May 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 canceled 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]Each performance-vested restricted stock unit ("PSU") represents a contingent right to receive one share of the Issuer's common stock.
- [F7]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 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.
- [F8]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.