Direct Digital Management, LLC - Dec 5, 2023 Form 4 Insider Report for Direct Digital Holdings, Inc. (DRCT)

Role
10%+ Owner
Signature
/s/ Mark Walker as Managing Partner of Direct Digital Management, LLC
Stock symbol
DRCT
Transactions as of
Dec 5, 2023
Transactions value $
$0
Form type
4
Date filed
12/7/2023, 08:00 PM
Previous filing
Aug 30, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction DRCT Class A Common Stock Conversion of derivative security +410K 410K Dec 5, 2023 Direct F1
transaction DRCT Class A Common Stock Other $0 -410K -100% $0.00* 0 Dec 5, 2023 Direct F2

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 Class A Common Units of Direct Digital Holdings LLC Conversion of derivative security $0 -410K -3.64% $0.00 10.9M Dec 5, 2023 Class A Common Stock 410K Direct F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Pursuant to the Second Amended and Restated Limited Liability Company Agreement of Direct Digital Holdings LLC, dated as of February 15, 2022, Class A Common Units (as defined therein) held by the Reporting Person are exchangeable for shares of Class A Common Stock on a one-for-one basis, subject to certain exceptions, conditions and adjustments. The Class A Common Units have no expiration date. At the time of any such exchange, an equal number of shares of Class B Common Stock of the Issuer held by the Reporting Person, which have no economic value and entitle holders thereof to one vote per share on all matters on which stockholders of the Issuer are entitled to vote generally, are cancelled.
F2 The Reporting Person distributed 410,000 shares of Class A Common Stock to two of its members for no consideration.