Maria Vilchez Lowrey - 22 Aug 2022 Form 4 Insider Report for Direct Digital Holdings, Inc. (DRCT)

Role
Chief Growth Officer
Signature
/s/ Susan Echard, Attorney-in-fact for Maria Vilchez Lowrey
Issuer symbol
DRCT
Transactions as of
22 Aug 2022
Net transactions value
$0
Form type
4
Filing time
23 Aug 2022, 16:35:29 UTC
Next filing
22 Mar 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 +11,700 $0.000000 11,700 22 Aug 2022 Class A Common Stock, par value $0.001 per share 11,700 Direct F1, F2
transaction DRCT Employee Stock Options (right to buy) Award $0 +11,700 $0.000000 11,700 22 Aug 2022 Class A Common Stock, par value $0.001 per share 11,700 $2.95 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 August 22, 2023.