Thygesen Allan C. 4

What Happened

• Allan C. Thygesen, President, CEO and Director of DocuSign (DOCU), was granted equity awards on July 9, 2026 totaling 455,914 contingent units. The grant breaks down as 182,366 restricted stock units (RSUs) and two performance stock unit (PSU) awards of 136,774 and 136,774 units. Each unit is a contingent right to receive one share; the Form 4 reports an acquisition price of $0 because these are compensation grants, not open‑market purchases.

Key Details

• Transaction date: 2026-07-09; Form 4 filed: 2026-07-10 (timely filing).
• Reported price: $0.00 per unit (award/grant, not a cash purchase or sale).
• Total units granted: 455,914 (182,366 RSUs + 136,774 subscription-revenue PSUs + 136,774 free-cash-flow PSUs).
• Shares owned after transaction: not specified in the provided filing details.
• Vesting/conditions:
  • RSUs: vest in equal quarterly installments over three years beginning May 10, 2026 (subject to continued service). RSUs do not expire and are canceled if not vested.
  • PSUs: two separate PSU pools vest based on DocuSign’s FY29 performance — one tied to subscription revenue goals and one to free cash flow goals. Each PSU class vests (if achieved) up to 200% of target and, if achieved, vests 100% on June 10, 2029, subject to continued service and limited exceptions. PSUs do not expire and are canceled if not vested.
• No indication of tax withholding sales, 10b5-1 plan, or late filing in this report.

Context

• These awards are contingent equity (RSUs and performance-based PSUs). They do not represent immediately issued common shares and can be forfeited if service or performance conditions are not met. Reporting $0 on the Form 4 reflects that the grants are compensation awards rather than paid share purchases; it does not mean the awards lack future value if vesting conditions are met. As with most executive grants, this is a compensation event rather than a straightforward buy or sell.