DocuSign Appoints Allan Thygesen as New CEO

TL;DR

DocuSign CEO change: Allan Thygesen takes over from Daniel Springer, effective immediately.

AI Summary

On June 20, 2024, DocuSign, Inc. announced the appointment of Allan Thygesen as Chief Executive Officer, effective immediately. Thygesen, who previously served as President, will also join the company's Board of Directors. This transition follows the departure of former CEO Daniel Springer.

Why It Matters

The appointment of a new CEO can signal a strategic shift for the company, potentially impacting its future growth, product development, and market position.

Risk Assessment

Risk Level: medium — CEO transitions can introduce uncertainty regarding future strategy and execution, which may affect investor confidence.

Key Players & Entities

• DocuSign, Inc. (company) — Registrant
• Allan Thygesen (person) — Appointed CEO and Board Member
• Daniel Springer (person) — Former CEO
• June 20, 2024 (date) — Effective date of appointment

FAQ

Key Financial Figures

• $0.0001 — ch registered Common Stock, par value $0.0001 per share DOCU The Nasdaq Global Sele
• $550,000 — ive release of claims: (i) a payment of $550,000 as cash severance, which amount represe
• $4,000,000 — plan; (iii) a one-time signing bonus of $4,000,000, which vests over one year from Ms. Han
• $13,500,000 — tock units with an approximate value of $13,500,000, which shall vest over four years, with

Filing Documents

• tm2417685d1_8k.htm (8-K) — 42KB
• tm2417685d1_ex10-1.htm (EX-10.1) — 62KB
• tm2417685d1_ex10-2.htm (EX-10.2) — 26KB
• tm2417685d1_ex10-3.htm (EX-10.3) — 78KB
• tm2417685d1_ex99-1.htm (EX-99.1) — 11KB
• tm2417685d1_ex10-2img01.jpg (GRAPHIC) — 12KB
• tm2417685d1_ex99-1img001.jpg (GRAPHIC) — 12KB
• 0001104659-24-074757.txt ( ) — 470KB
• docu-20240620.xsd (EX-101.SCH) — 3KB
• docu-20240620_lab.xml (EX-101.LAB) — 33KB
• docu-20240620_pre.xml (EX-101.PRE) — 22KB
• tm2417685d1_8k_htm.xml (XML) — 4KB

02 Departure

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. (b) On June 25, 2024, Docusign, Inc. (the "Company") announced that Steve Shute, the Company's President, Worldwide Field Operations, will step down from his position and his employment will end effective August 11 , 2024 (the "Separation Date"). Mr. Shute's departure is not a result of any disagreement regarding the Company. The circumstances of Mr. Shute's termination of employment constitute a "Qualifying Termination," as defined in Exhibit A to the Second Amended and Restated Executive Severance and Change in Control Agreement, dated March 13, 2024, between Mr. Shute and the Company (the "Severance Agreement"), and entitle him to separation benefits under that agreement. On June 24, 2024, the Company entered into a separation agreement with Mr. Shute (the "Separation Agreement"), which provides for, among other things, the severance and vesting benefits contemplated in his Severance Agreement. Mr. Shute's Severance Agreement was filed as Exhibit 10.1 to the Company's Form 8-K, as filed with the Securities and Exchange Commission (the "SEC"), on March 15, 2024, and is incorporated by reference herein. The Separation Agreement provides for the following benefits (collectively, the "Severance Benefits") in consideration of Mr. Shute's delivery of an effective release of claims: (i) a payment of $550,000 as cash severance, which amount represents 12 months of Mr. Shute's base salary at the time of his termination; (ii) a payment of $550,000, which represents 100% of Mr. Shute's on-target bonus for fiscal 2025; (iii) up to 12 months of COBRA coverage; and (iv) 12 months' vesting acceleration of Mr. Shute's time-based equity awards. The foregoing Severance Benefits are in full satisfaction of amounts due pursuant to the Severance Agreement. Mr. Shute remains eligible to vest in a portion of his outstand

01. Regulation

Item 7.01. Regulation FD Disclosure A press release dated June 25, 2024 announcing recent Company leadership changes is filed as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference herein. The information in Item 7.01 of this current report, including Exhibit 99.1 attached hereto, is furnished and shall not be treated as filed for purposes of the Securities Exchange Act of 1934.

01 Financial

Item 9.01 Financial (d) Exhibits: Exhibit No. Description 10.1 Separation Agreement by and between Docusign, Inc. and Steve Shute, dated June 24, 2024. 10.2 Offer letter by and between Docusign, Inc. and Paula Hansen, dated June 7, 2024. 10.3 Executive Severance and Change in Control Agreement by and between Docusign, Inc. and Paula Hansen, dated June 10, 2024. 99.1 Press Release, dated June 25, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. Date: June 25, 2024 DOCUSIGN, INC. By: /s/ James P. Shaughnessy James P. Shaughnessy Chief Legal Officer

View Full Filing

View this 8-K filing on SEC EDGAR