GRAYSON BLAKE JEFFREY 4

What Happened

• DocuSign CFO Grayson Blake Jeffrey exercised/converted 37,448 derivative awards (RSUs/PSUs) into common stock on March 15, 2026. The filings show a $0 per-share price, consistent with vesting/settlement of restricted stock units rather than a cash purchase. To satisfy tax withholding obligations, 15,365 shares were withheld by the issuer. The Form 4 lists multiple related conversion/disposition entries that reflect the mechanics of settlement.

Key Details

• Transaction date: March 15, 2026; Form filed March 17, 2026 (appears timely).
• Transaction codes: M = exercise/conversion of derivative; F = shares withheld to cover taxes.
• Shares acquired on conversion: 37,448 (reported at $0.00 per share).
• Shares withheld for taxes: 15,365 (per footnote F1).
• Other conversion/disposition line items in the filing total the converted 37,448 shares (these entries reflect settlement mechanics reported on the Form 4).
• Shares owned after the transaction: not disclosed in the provided excerpt.
• Relevant footnotes: the awards are RSUs/PSUs with varying vesting schedules and PSU payouts tied to FY25 subscription revenue and free cash flow (each capped at 200% of target).

Context

• This appears to be a routine vesting/settlement of equity awards with share withholding to cover taxes (common practice). The $0 price reflects award settlement rather than an open-market buy or sale. PSUs here are performance-based (subscription revenue and free cash flow for FY25), and RSUs vest over multi-year schedules per the footnotes. No 10b5-1 plan or late filing is indicated in the provided data.