Chatwani Robert 4

What Happened
Robert Chatwani, President General Manager, Growth at DocuSign (DOCU), had restricted/ performance-based equity convert/settle on March 15, 2026. The Form 4 shows 31,541 shares were acquired upon exercise/conversion of derivatives (price reported $0.00) and a total of 44,125 shares were disposed the same day. Of the disposed shares, 12,584 were withheld by the issuer to satisfy the reporting person’s tax obligation related to the vesting/settlement.

Key Details

• Transaction date: 2026-03-15; Form 4 filed 2026-03-17 (timely filing).
• Reported prices: $0.00 for all items (reflects settlement/vesting rather than a cash purchase).
• Shares acquired: 31,541 (conversion/settlement of derivatives, code M).
• Shares disposed: 44,125 total, including 12,584 shares withheld for taxes (code F; footnote F1). Net shares = 31,541 in − 44,125 out = net decrease of 12,584 shares.
• Shares owned after transaction: not provided in the supplied filing data.
• Notable footnotes: F1 explains shares were withheld to satisfy tax withholding on RSU/PSU vesting. Footnotes F2–F11 describe that these awards are RSUs/PSUs with various vesting schedules and performance conditions (subscription revenue and free cash flow performance periods referenced).

Context
These entries reflect settlement/vesting of restricted and performance-based share awards (PSUs/RSUs) rather than an open-market buy or sale. The $0.00 reporting for each line is consistent with issuance upon vesting and net settlement; the withholding of shares to cover taxes is a common, administrative step and not a separate market sale decision. Purchases by insiders tend to be more indicative of bullish sentiment; this filing mainly documents compensation settlement and tax withholding.