Richard Cohen - Jun 10, 2023 Form 4 Insider Report for Direct Digital Holdings, Inc. (DRCT)

Role
Director
Signature
/s/ Mark D. Walker, Attorney-in-fact for Richard Cohen
Stock symbol
DRCT
Transactions as of
Jun 10, 2023
Transactions value $
$0
Form type
4
Date filed
6/13/2023, 06:31 PM
Previous filing
Jun 13, 2022
Next filing
Jun 12, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction DRCT Class A Common Stock Options Exercise $0 +16.3K $0.00 16.3K Jun 10, 2023 Direct F1

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 Options Exercise $0 -16.3K -33% $0.00 33.1K Jun 10, 2023 Class A Common Stock, par value $0.001 per share 16.3K Direct F1, F2
transaction DRCT Restricted Stock Units Award $0 +24.6K $0.00 24.6K Jun 12, 2023 Class A Common Stock, par value $0.001 per share 24.6K Direct F1, 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 On June 10, 2022, the reporting person was granted 49,382 restricted stock units, vesting in three annual installments beginning on the first anniversary of the grant date. 33 percent of the restricted stock units vested on June 10, 2023, an additional 33 percent will vest on June 10, 2024, and the remaining balance of 34 percent of the restricted stock units will vest on June 10, 2025. 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 The restricted stock units will vest in three equal annual installments on each of the first, second and third anniversaries 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).