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 2,319 Shares
What Happened
- Sitaram Siddharth, Interim Principal Financial Officer and Principal Accounting Officer of Doximity (DOCS), exercised options for 5,000 shares and reported conversions between Class B and Class A stock on March 10, 2026. He sold 2,319 shares in an open-market/sell-to-cover transaction at $25.37 per share, generating $58,833. The exercise/conversion entries show no cash exercise price reported on the Form 4 (derivative transactions reflected at $0 on the filing).
Key Details
- Transaction date: March 10, 2026; Form 4 filed March 12, 2026 (appears timely).
- Sale: 2,319 shares disposed at $25.37 each, proceeds $58,833. The sale occurred automatically under a Rule 10b5-1 trading plan adopted August 28, 2025 (Footnote F2).
- Option exercise/conversion: 5,000 shares exercised/acquired and related conversions of derivative securities were reported (multiple M and C codes on the Form 4). The filing shows $0 per share for the derivative exercise/conversion entries on the Form 4 (derivative accounting on filing).
- Tax withholding / sell-to-cover: The sale of shares included a sell-to-cover to satisfy tax withholding from the option exercise (Footnote F3).
- Vesting/grant context: The underlying option was granted December 22, 2020, with vesting schedule noted in the filing (Footnote F4).
- Conversion mechanics: Footnotes explain that Class B common shares are convertible into Class A shares at the holder’s option and under certain events (Footnotes F1, F5).
- Shares owned after the transaction: not specified in the information provided in this summary.
Context
- This was primarily an option exercise with a partial sale to cover taxes under a pre-established 10b5-1 plan, a routine insider action that doesn’t necessarily signal new bullish or bearish views. The filings reflect derivative conversions and an automatic sale for tax withholding rather than an opportunistic open-market sale for investment purposes.
Insider Transaction Report
Form 4
Doximity, Inc.DOCS
Sitaram Siddharth
Interim PFO and PAO
Transactions
- Conversion
Class A Common Stock
[F1]2026-03-10+5,000→ 86,451 total - Sale
Class A Common Stock
[F2][F3]2026-03-10$25.37/sh−2,319$58,833→ 84,132 total - Exercise/Conversion
Stock Option (Right to Buy)
[F4][F5]2026-03-10−5,000→ 83,800 totalExercise: $4.12Exp: 2030-12-21→ Class B Common Stock (5,000 underlying) - Exercise/Conversion
Class B Common Stock
[F5]2026-03-10+5,000→ 5,000 total→ Class A Common Stock (5,000 underlying) - Conversion
Class B Common Stock
[F5][F1]2026-03-10−5,000→ 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.
Signature
/s/ John Vaughan, Attorney-in-Fact|2026-03-12