Docusign

=== SEC Form 4 — Statement of Changes in Beneficial Ownership === Document Type: 4 Period of Report: 2026-09-15 10b5-1 Pre-arranged Plan: No --- Issuer --- Name: DOCUSIGN, INC. (DOCU) CIK: 0001261333 --- Reporting Owner --- Name: Thygesen Allan C. CIK: 0001657309 Role: Director, Officer (President and CEO) --- Non-Derivative Transactions --- [Transaction #1] Security: Common Stock Date: 2026-09-15 | Code: M (Exercise of derivative) Shares: +67,467 | Price: $0.00 Shares Owned After: 226,505 | Ownership: D (Direct) [Transaction #2] Security: Common Stock Date: 2026-09-15 | Code: F (Payment of exercise/tax) Shares: -33,454 | Price: $0.00 Shares Owned After: 193,051 | Ownership: D (Direct) Footnotes: [F1] Represents shares withheld by the Issuer to satisfy a tax obligation realized by the Reporting Person upon the vesting and settlement of restricted stock units ("RSUs") or performance-vested restricted stock units ("PSUs"). --- Derivative Transactions --- [Transaction #1] Security: Restricted Stock Units Date: 2026-09-15 | Code: M (Exercise of derivative) Shares: -11,497 | Price: $0.00 Shares Owned After: 11,498 | Ownership: D (Direct) Footnotes: [F2] Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock. [F3] The RSUs will vest in equal quarterly installments over four years, with a vesting commencement date of October 10, 2022, in each case subject to the Reporting Person being a service provider through each such date. The RSUs are subject to accelerated vesting in the event of a termination of employment of the Reporting Person including under certain circumstances following a change in control of the Issuer. [F4] The RSUs do not expire; they either vest or are canceled prior to vesting date. [Transaction #2] Security: Restricted Stock Units Date: 2026-09-15 | Code: M (Exercise of derivative) Shares: -8,749 | Price: $0.00 Shares Owned After: 26,247 | Ownership: D (Direct) Footnotes: [F2] Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock. [F5] The RSUs will vest in equal quarterly installments over four years, with a vesting commencement date of May 10, 2023, in each case subject to the reporting person being a service provider through such date. [F4] The RSUs do not expire; they either vest or are canceled prior to vesting date. [Transaction #3] Security: Restricted Stock Units Date: 2026-09-15 | Code: M (Exercise of derivative) Shares: -10,466 | Price: $0.00 Shares Owned After: 73,262 | Ownership: D (Direct) Footnotes: [F2] Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock. [F6] The RSUs will vest in equal quarterly installments over four years, with a vesting commencement date of May 10, 2024, in each case subject to the reporting person being a service provider through such date. [F4] The RSUs do not expire; they either vest or are canceled prior to vesting date. [Transaction #4] Security: Restricted Stock Units Date: 2026-09-15 | Code: M (Exercise of derivative) Shares: -9,276 | Price: $0.00 Shares Owned After: 54,333 | Ownership: D (Direct) Footnotes: [F2] Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock. [F7] The RSUs will vest quarterly over a four year period commencing May 10, 2025, with 40% vesting during year 1, 35% vesting during year 2, 15% vesting during year 3, and 10% vesting during year 4, in each case subject to the Reporting Person being a service provider through each such date. [F4] The RSUs do not expire; they either vest or are canceled prior to vesting date. [Transaction #5] Security: Restricted Stock Units Date: 2026-09-15 | Code: M (Exercise of derivative) Shares: -15,197 | Price: $0.00 Shares Owned After: 167,169 | Ownership: D (Direct) Footnotes: [F2] Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock. [F8] The RSUs will vest in equal quarterly installments over three years, with a vesting commencement date of May 10, 2026, in each case subject to the Reporting Person being a service provider through such date. [F8] The RSUs will vest in equal quarterly installments over three years, with a vesting commencement date of May 10, 2026, in each case subject to the Reporting Person being a service provider through such date. [Transaction #6] Security: Performance Stock Units Date: 2026-09-15 | Code: M (Exercise of derivative) Shares: -5,086 | Price: $0.00 Shares Owned After: 17,018 | Ownership: D (Direct) Footnotes: [F9] Each performance stock unit ("PSU") represents a contingent right to receive one share of the Issuer's common stock. [F10] The PSUs will vest depending on the Company's subscription revenue for the twelve-month period ended January 31, 2025 (the "FY25 Performance Period"). The maximum number of subscription revenue-based PSUs that may vest is capped at 200% of the target number of subscription revenue-based PSUs. To the extent achieved, 1/3 of any achieved subscription revenue-based PSUs will vest following the one-year anniversary of the date of grant and the balance will vest in eight equal quarterly installments thereafter, subject to continued service with certain limited exceptions. [F10] The PSUs will vest depending on the Company's subscription revenue for the twelve-month period ended January 31, 2025 (the "FY25 Performance Period"). The maximum number of subscription revenue-based PSUs that may vest is capped at 200% of the target number of subscription revenue-based PSUs. To the extent achieved, 1/3 of any achieved subscription revenue-based PSUs will vest following the one-year anniversary of the date of grant and the balance will vest in eight equal quarterly installments thereafter, subject to continued service with certain limited exceptions. [Transaction #7] Security: Performance Stock Units Date: 2026-09-15 | Code: M (Exercise of derivative) Shares: -7,196 | Price: $0.00 Shares Owned After: 0 | Ownership: D (Direct) Footnotes: [F9] Each performance stock unit ("PSU") represents a contingent right to receive one share of the Issuer's common stock. [F11] The PSUs will vest depending on the Company's free cash flow for the FY25 Performance Period. The maximum number of free cash flow-based PSUs that may vest is capped at 200% of the target number of free cash flow-based PSUs. To the extent achieved, 1/3 of any achieved free cash flow-based PSUs will vest following the one-year anniversary of the vesting commencement date and the balance will vest in eight equal quarterly installments thereafter, subject to continued service with certain limited exceptions. [F11] The PSUs will vest depending on the Company's free cash flow for the FY25 Performance Period. The maximum number of free cash flow-based PSUs that may vest is capped at 200% of the target number of free cash flow-based PSUs. To the extent achieved, 1/3 of any achieved free cash flow-based PSUs will vest following the one-year anniversary of the vesting commencement date and the balance will vest in eight equal quarterly installments thereafter, subject to continued service with certain limited exceptions. --- Footnotes (Complete Index) --- F1: Represents shares withheld by the Issuer to satisfy a tax obligation realized by the Reporting Person upon the vesting and settlement of restricted stock units ("RSUs") or performance-vested restricted stock units ("PSUs"). F10: The PSUs will vest depending on the Company's subscription revenue for the twelve-month period ended January 31, 2025 (the "FY25 Performance Period"). The maximum number of subscription revenue-based PSUs that may vest is capped at 200% of the target number of subscription revenue-based PSUs. To the extent achieved, 1/3 of any achieved subscription revenue-based PSUs will vest following the one-year anniversary of the date of grant and the balance will vest in eight equal quarterly installments thereafter, subject to continued service with certain limited exceptions. F11: The PSUs will vest depending on the Company's free cash flow for the FY25 Performance Period. The maximum number of free cash flow-based PSUs that may vest is capped at 200% of the target number of free cash flow-based PSUs. To the extent achieved, 1/3 of any achieved free cash flow-based PSUs will vest following the one-year anniversary of the vesting commencement date and the balance will vest in eight equal quarterly installments thereafter, subject to continued service with certain limited exceptions. F2: Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock. F3: The RSUs will vest in equal quarterly installments over four years, with a vesting commencement date of October 10, 2022, in each case subject to the Reporting Person being a service provider through each such date. The RSUs are subject to accelerated vesting in the event of a termination of employment of the Reporting Person including under certain circumstances following a change in control of the Issuer. F4: The RSUs do not expire; they either vest or are canceled prior to vesting date. F5: The RSUs will vest in equal quarterly installments over four years, with a vesting commencement date of May 10, 2023, in each case subject to the reporting person being a service provider through such date. F6: The RSUs will vest in equal quarterly installments over four years, with a vesting commencement date of May 10, 2024, in each case subject to the reporting person being a service provider through such date. F7: The RSUs will vest quarterly over a four year period commencing May 10, 2025, with 40% vesting during year 1, 35% vesting during year 2, 15% vesting during year 3, and 10% vesting during year 4, in each case subject to the Reporting Person being a service provider through each such date. F8: The RSUs will vest in equal quarterly installments over three years, with a vesting commencement date of May 10, 2026, in each case subject to the Reporting Person being a service provider through such date. F9: Each performance stock unit ("PSU") represents a contingent right to receive one share of the Issuer's common stock. --- Signature --- /s/ /s/ Lisa Yun, Attorney-in-fact (2026-09-16)