Shaughnessy James P 4

What Happened
James P. Shaughnessy, Chief Legal Officer of DocuSign (DOCU), had equity awards vest/convert on March 15, 2026 resulting in the acquisition of 20,966 shares (reported with transaction code M, “exercise/conversion of derivative”). The issuer withheld 9,885 shares to cover tax obligations (transaction code F). The reported per-share price shown is $0.00 (typical for vesting/settlement line items on Form 4); no cash purchase or open-market sale is reported. Net shares delivered to the insider (gross 20,966 minus 9,885 withheld) = 11,081 shares.

Key Details

• Transaction date: 2026-03-15; Form 4 filed: 2026-03-17 (timely filing).
• Primary entries: 20,966 shares acquired by conversion/exercise (M); 9,885 shares withheld for taxes (F). Reported $/share = $0.00 on the filing.
• Net shares received (as reported here): 11,081 shares (20,966 acquired less 9,885 withheld).
• Notable footnotes: F1 = shares withheld to satisfy tax obligations on RSU/PSU vesting; F2/F9 = RSUs/PSUs each convert to one share; F3–F8 and F10–F13 describe vesting schedules and performance conditions (including FY24/FY25 subscription revenue and free cash flow PSUs, capped at 200% of target).
• Filing status: Appears timely (no late-file indicator shown).

Context

• These entries reflect award vesting/settlement (RSUs/PSUs and/or conversion of derivatives), not an open-market buy or sale. The withholding of shares for taxes is a common net-settlement action and does not by itself indicate bullish or bearish intent.
• For PSUs noted in the footnotes, vesting depends on performance metrics (subscription revenue and free cash flow) and may vest over time based on achievement and service conditions; some awards include multi-year quarterly vesting schedules.
• Transaction codes: M = exercise/conversion of derivative; F = payment of exercise price or tax liability (withholding).