Doximity (DOCS) Director Timothy Cabral Sells 7,500 Shares

What Happened

• Timothy S. Cabral, a director of Doximity, sold 7,500 shares in an open-market transaction on August 7, 2026, at $39.11 per share, generating $293,325 in proceeds. The sale followed the exercise/conversion of derivative securities (options/Class B → Class A conversion) that resulted in the same 7,500 shares being acquired and then sold.

Key Details

• Transaction date: 2026-08-07.
• Sale: 7,500 shares disposed in open market at $39.11 — total proceeds $293,325.
• Derivative activity: reporting shows conversion/exercise transactions (codes M and C) at $0.00 for 7,500 shares (i.e., options/convertible shares were exercised/converted and those shares were then sold).
• 10b5-1 plan: the sale occurred automatically under a pre-established Rule 10b5-1 trading plan adopted by Cabral on February 19, 2026 (per footnote F2).
• Vesting/grant note: the underlying stock option was granted Sept 2, 2020 and vested monthly in 36 installments (per footnote F3).
• Conversion mechanics: Class B shares are convertible 1:1 into Class A shares; certain conversions may be automatic per the charter (see footnotes F1/F4).
• Shares owned after the transactions: not specified in the excerpt provided.
• Filing timeliness: Form 4 was filed on 2026-08-11 for a 2026-08-07 transaction — appears timely (filed within the required two business days).

Context

• The sequence indicates a common pattern: exercise/convert derivative securities (shown at $0.00 exercise price in the filing) to acquire shares, then immediately sell those shares in the open market. Because the sale was executed under a 10b5-1 plan, it was preplanned and automated rather than an ad-hoc sale. This is routine insider liquidity rather than an explicit signal of management sentiment.