Sitaram Siddharth 4

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.