Keith W. Smith - Jun 10, 2022 Form 4 Insider Report for Direct Digital Holdings, Inc. (DRCT)

Role
President, Director, 10%+ Owner
Signature
/s/ Susan Echard, Attorney-in-fact for Keith W. Smith
Stock symbol
DRCT
Transactions as of
Jun 10, 2022
Transactions value $
$0
Form type
4
Date filed
6/13/2022, 04:57 PM
Previous filing
Feb 17, 2022
Next filing
Aug 30, 2022

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction DRCT Restricted Stock Units Award $0 +60.9K $0.00 60.9K Jun 10, 2022 Class A Common Stock, par value $0.001 per share 60.9K Direct F1, F2
transaction DRCT Employee Stock Options (right to buy) Award $0 +60.9K $0.00 60.9K Jun 10, 2022 Class A Common Stock, par value $0.001 per share 60.9K $1.62 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each restricted stock unit represents a contingent right to one share of DRCT's Class A Common Stock, par value $0.001 per share, upon settlement.
F2 The restricted stock units will vest in three annual installments, with 33% to vest on each of the first and second anniversary of the grant date and the remaining 34% to vest on the third anniversary of the grant date. Vesting will be accelerated upon certain termination of employment events and upon a "Change in Control" (as defined in the Direct Digital Holdings, Inc. 2022 Omnibus Incentive Plan).
F3 This option is scheduled to vest in three equal annual installments beginning on June 10, 2023.