Sec Form 4 Filing - Thygesen Allan C. @ DOCUSIGN, INC. - 2022-10-14

Insider filing report for Changes in Beneficial Ownership
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FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
Thygesen Allan C.
2. Issuer Name and Ticker or Trading Symbol
DOCUSIGN, INC. [ DOCU]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X __ Director _____ 10% Owner
X __ Officer (give title below) _____ Other (specify below)
President and CEO
(Last) (First) (Middle)
C/O DOCUSIGN, INC., 221 MAIN STREET, SUITE 1550
3. Date of Earliest Transaction (MM/DD/YY)
10/14/2022
(Street)
SAN FRANCISCO, CA94105
4. If Amendment, Date Original Filed (MM/DD/YY)
6. Individual or Joint/Group Filing (Check Applicable Line)
__ X __ Form filed by One Reporting Person
_____ Form filed by More than One Reporting Person
(City) (State) (Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(MM/DD/YY)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Restricted Stock Units ( 1 ) 10/14/2022 A 367,910 ( 2 ) ( 3 ) Common Stock 367,910 $ 0 367,910 D
Restricted Stock Units ( 1 ) 10/14/2022 A 183,955 ( 4 ) ( 3 ) Common Stock 183,955 $ 0 183,955 D
Performance Stock Units ( 5 ) 10/14/2022 A 183,955 ( 6 ) ( 6 ) Common Stock 183,955 $ 0 183,955 D
Performance Stock Units ( 5 ) 10/14/2022 A 2,182,056 ( 7 ) ( 7 ) Common Stock 2,182,056 $ 0 2,182,056 D
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Thygesen Allan C.
C/O DOCUSIGN, INC.
221 MAIN STREET, SUITE 1550
SAN FRANCISCO, CA94105
X President and CEO
Signatures
/s/ Lisa Yun, Attorney-in-fact 10/18/2022
Signature of Reporting Person Date
Explanation of Responses:
( 1 )Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock.
( 2 )The RSUs will vest 100% on the one year anniversary of the vesting commencement date of October 9, 2022, subject to the Reporting Person being a service provider through such date.
( 3 )The RSUs do not expire; they either vest pursuant to their vesting schedule or are canceled prior to their final vesting date.
( 4 )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.
( 5 )Each performance-vested restricted stock unit ("PSU") represents a contingent right to receive one share of Issuer common stock.
( 6 )The PSUs will vest depending on the Company's total shareholder return ("TSR") over: (i) 12 month, (ii) 24 month and (iii) 36 month performance periods (each, a "Performance Period") over a total three-year period, relative to companies in the Nasdaq Composite Total Return Index (the "Index TSR"), subject to continued employment as CEO, or in certain situations, as executive chairman ("continuous CEO service"). If the Company's TSR is less than 25 points as compared to the Index TSR during the applicable Performance Period, no PSUs are eligible to vest. If the Company's TSR is negative, the maximum number of PSUs that may vest is capped at 100% of the Target number of PSUs. For each of the 12 month and 24 month Performance Periods, the maximum number of eligible PSUs may not exceed 1/3 of the Target PSUs. In any case, the maximum number of PSUs that may vest over the total three-year Performance Period will be capped at 200% of the Target number of PSUs.
( 7 )The PSUs shall vest subject to the achievement of stock price targets ("Shareholder Value Creation (SVC) PSUs") over a 7-year period ("SVC Performance Period"). The SVC PSUs are divided into 6 separate tranches (each, a "Tranche") that require achievement of certain share price targets (each, a "Share Price Target"). Tranches 1-5 are eligible to be achieved during a 5-year performance period, and to the extent achieved, will vest 50% upon achievement and 50% upon the 2-year anniversary of achievement, subject to the Reporting Person's continuous CEO service on such dates. Tranche 6 is eligible to be earned during a 7-year performance period, and to the extent earned, will vest 50% upon achievement and 50% upon the 2-year anniversary of achievement, subject to the Reporting Person's continuous CEO service on such dates. In no event will any Tranche vest prior to October 14, 2023 due to an earlier achievement of a stock price target.

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* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
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