Marrs Anna 4

What Happened
Anna Marrs, a director of DocuSign (DOCU), had 725 restricted stock units (RSUs) convert to common shares on June 4, 2026 (reported as an exercise/conversion). She then sold 363 of those shares in an open-market sale on June 5, 2026 at $49.42 per share, generating proceeds of $17,939. The sale was executed under a Rule 10b5-1 plan (prearranged trading plan).

Key Details

• Transaction dates and amounts:
  • 2026-06-04: Conversion of 725 RSUs into 725 shares (reported as "M", $0.00 acquisition cost).
  • 2026-06-05: Open-market sale of 363 shares at $49.42 each for total proceeds of $17,939 (reported as "S").
  • 2026-06-04: A related derivative disposition of 725 shares is also reported (file shows a conversion/disposition entry).
• Footnotes: F1 indicates the sale was effected pursuant to a Rule 10b5-1 plan. F2–F4 describe the instruments as RSUs that vest quarterly over three years (vesting commenced June 4, 2023) and that RSUs either vest or are canceled; they do not expire.
• Shares owned after the reported transactions: the filing does not state total post-transaction beneficial ownership. Mathematically, 725 converted minus 363 sold leaves 362 shares from that vesting event (assuming no other transfers).
• Filing timeliness: Report filed 2026-06-05 for transactions on 2026-06-04–06-05; no late-filing indication in provided data.

Context

• These were RSU conversions (not option exercises requiring cash); the conversion was reported with $0 acquisition cost as typical for vested RSUs.
• The sale being executed under a 10b5-1 plan means it was made according to a pre-established trading arrangement, which is common for insiders and is intended to avoid questions about timing or intent.
• This is a relatively small, routine insider sale in dollar terms (~$18k) and should be viewed as a routine liquidity event rather than a clear signal about company fundamentals.