Anu Pillai - 20 Mar 2024 Form 4 Insider Report for Direct Digital Holdings, Inc. (DRCT)

Role
Chief Technology Officer
Signature
/s/ Mark Walker, attorney-in-fact for Anu Pillai
Issuer symbol
DRCT
Transactions as of
20 Mar 2024
Net transactions value
-$9,403
Form type
4
Filing time
27 Aug 2024, 16:31:26 UTC
Previous filing
20 Mar 2024
Next filing
12 Jun 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction DRCT Class A Common Stock Options Exercise +2,105 +20% 12,485 20 Mar 2024 Direct F1, F2
transaction DRCT Class A Common Stock Tax liability $9,403 -617 -4.9% $15.24 11,868 01 Apr 2024 Direct F3

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 -2,105 -33% $0.000000 4,210 20 Mar 2024 Class A Common Stock, par value $0.001 per share 2,105 Direct F1, F4
* 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 Due to administrative error, the number of non-derivative securities beneficially owned by the Reporting Person was incorrectly reported as 10,435 instead of 10,380 on a Form 4 filed on March 20, 2024. This column reflects the corrected balance, as effected by the transactions reported on this Form 4.
F3 Represents shares withheld to satisfy tax liabilities associated with the reported vesting of restricted stock units for 2,105 shares.
F4 On March 20, 2023, the reporting person was granted 6,315 restricted stock units, vesting in three annual installments beginning on the first anniversary of the grant date. 33% of the restricted stock units vested on March 20, 2024, an additional 33% of the restricted stock units will vest on March 20, 2025, and the remaining balance of 34% of the restricted stock units will vest on March 20, 2026. 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).