Richard Cohen - 10 Jun 2022 Form 4 Insider Report for Direct Digital Holdings, Inc. (DRCT)

Role: Director
Signature: /s/ Susan Echard, Attorney-in-fact for Richard Cohen
Issuer symbol: DRCT
Transactions as of: 10 Jun 2022
Net transactions value: $0
Form type: 4
Filing time: 13 Jun 2022, 16:58:35 UTC
Previous filing: 17 Feb 2022
Next filing: 13 Jun 2023
SEC: View on sec.gov

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	+49,382		$0.000000	49,382	10 Jun 2022	Class A Common Stock, par value $0.001 per share	49,382		Direct	F1, F2

* 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 service events and upon a "Change in Control" (as defined in the Direct Digital Holdings, Inc. 2022 Omnibus Incentive Plan).

Content

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.

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 service events and upon a "Change in Control" (as defined in the Direct Digital Holdings, Inc. 2022 Omnibus Incentive Plan).