Sitaram Siddharth 4
4 · Doximity, Inc. · Filed Mar 12, 2026
Research Summary
AI-generated summary of this filing
Doximity (DOCS) Interim PFO Sitaram Siddharth Sells 2,282 Shares
What Happened
Sitaram Siddharth, Doximity’s Interim PFO and PAO, reported transactions dated Feb 10, 2026. The filing shows a sale of 2,282 shares at $27.88 each for proceeds of $63,622. The same date also shows exercise/conversion activity affecting 5,000 derivative shares (records show acquisitions and dispositions at $0.00), reflecting the exercise/conversion of previously granted option/derivative securities and conversion of Class B into Class A common stock. The 2,282-share sale was a sell-to-cover to satisfy tax withholding obligations related to the option exercise and occurred pursuant to a Rule 10b5-1 trading plan.
Key Details
- Transaction date: February 10, 2026 (filed with SEC on March 12, 2026 — filing appears late relative to the standard 2-business-day Form 4 deadline).
- Sale: 2,282 shares at $27.88 each = $63,622 total. (Footnote F3: sell-to-cover to satisfy tax withholding.)
- Derivative activity: entries show exercise/conversion of 5,000 shares (reported with $0 cash consideration in the filing).
- Plan/authority: sale occurred under a Rule 10b5-1 trading plan adopted Aug 28, 2025 (Footnote F2).
- Vesting/option background: the option was granted Dec 22, 2020 and vested on a 1/4 then monthly schedule (Footnote F4).
- Share-class note: Class B shares are convertible into Class A at holder’s option and may convert automatically on certain events (Footnotes F1, F5).
- Shares owned after transaction: not specified in the information provided.
Context
The filing combines option exercise/conversion activity with an automatic/scheduled sell-to-cover sale. Sell-to-cover transactions and trades under 10b5-1 plans are common administrative moves to cover tax withholding and are generally viewed as routine rather than a clear bullish or bearish signal. For derivative entries, the reported $0.00 consideration reflects conversion/exercise accounting on the Form 4; the related tax withholding sale is the cash-generating event shown.
Insider Transaction Report
- Conversion
Class A Common Stock
[F1]2026-02-10+5,000→ 83,733 total - Sale
Class A Common Stock
[F2][F3]2026-02-10$27.88/sh−2,282$63,622→ 81,451 total - Exercise/Conversion
Stock Option (Right to Buy)
[F4][F5]2026-02-10−5,000→ 88,800 totalExercise: $4.12Exp: 2030-12-21→ Class B Common Stock (5,000 underlying) - Exercise/Conversion
Class B Common Stock
[F5]2026-02-10+5,000→ 5,000 total→ Class A Common Stock (5,000 underlying) - Conversion
Class B Common Stock
[F5][F1]2026-02-10−5,000→ 0 total→ Class A Common Stock (5,000 underlying)
Footnotes (5)
- [F1]Each share of Class B Common Stock, par value $0.001 per share (the "Class B Common Stock"), converted into one share of Class A Common Stock, par value $0.001 per share (the "Class A Common Stock"), at the option of the holder.
- [F2]The sales reported in this Form 4 occurred automatically pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on August 28, 2025.
- [F3]Represents shares of Class A Common Stock sold by the Reporting Person in a sell-to-cover transaction to satisfy the tax withholding obligations in connection with the exercise of a stock option previously granted to the Reporting Person.
- [F4]The shares subject to the stock option (including 206,200 shares previously exercised) vested as to 1/4th of the total number of shares on November 23, 2021 and the remaining shares vested in 36 equal monthly installments thereafter, subject to the Reporting Person's continuous service relationship with the Issuer through each applicable vesting date. The stock option was granted on December 22, 2020.
- [F5]Each share of Class B Common Stock is convertible into one share of Class A Common Stock at any time at the option of the holder. Each share of Class B Common Stock held by the Reporting Person will automatically convert into one share of Class A Common Stock, upon the following: (1) the sale or transfer of such share of Class B Common Stock, except for certain permitted transfers described in the Issuer's amended and restated certificate of incorporation; (2) the death or incapacity of the Reporting Person; and (3) on the final conversion date, defined as the earlier of (a) the tenth anniversary of the effectiveness of the registration statement in connection with the Issuer's initial public offering; or (b) the date specified by a vote of the holders of at least 66 2/3% of the outstanding shares of Class B Common Stock, voting as a single class.