Diana P. Diaz - Oct 16, 2023 Form 4 Insider Report for Direct Digital Holdings, Inc. (DRCT)

Role
Chief Financial Officer
Signature
/s/ Diana P. Diaz
Stock symbol
DRCT
Transactions as of
Oct 16, 2023
Transactions value $
$0
Form type
4
Date filed
10/18/2023, 04:24 PM
Previous filing
Jun 6, 2023
Next filing
Mar 13, 2024

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 +18.7K $0.00 18.7K Oct 16, 2023 Class A Common Stock, par value $0.001 per share 18.7K Direct F1, F2
transaction DRCT Employee Stock Options (right to buy) Award $0 +18.7K $0.00 18.7K Oct 16, 2023 Class A Common Stock, par value $0.001 per share 18.7K $2.46 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 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 beginning on October 16, 2024.