Yancey L. Spruill - Jul 27, 2021 Form 4 Insider Report for DigitalOcean Holdings, Inc. (DOCN)

Signature
/s/ Jayne Munger, Attorney-in-Fact
Stock symbol
DOCN
Transactions as of
Jul 27, 2021
Transactions value $
$0
Form type
4
Date filed
7/28/2021, 04:42 PM
Previous filing
Jun 2, 2021
Next filing
Jan 14, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction DOCN Common Stock Award $0 +3M +2142.86% $0.00 3.14M Jul 27, 2021 Direct F1, F2, F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 This security represents restricted stock units. Each restricted stock unit represents a contingent right to receive one share of common stock of the Issuer.
F2 Represents the grant of performance-based restricted stock units ("PSUs") under the DigitalOcean Holdings, Inc. 2021 Equity Incentive Plan. The PSUs will vest on the first date upon which both the time-based service requirement and the stock price requirement of the award are satisfied as more fully described in footnotes (3) and (4) herein, in each case subject to the Reporting Person providing continuous service to the Issuer on each such date.
F3 With respect to the time-based service requirement, the PSUs will vest as to 14% of the total number of shares on each of the first five anniversaries of the grant date beginning on July 27, 2022, and 15% of the total number of shares on each of the two subsequent anniversaries of the grant date beginning on July 27, 2027.
F4 With respect to the stock price requirement, the PSUs will vest on the date on which the average closing price per share of the Issuer's common stock over a consecutive 90 trading day period between the date of grant and July 27, 2028 first meets or exceeds the following stock price targets (each a "Stock Price Target"): 475,000 PSUs will vest upon the attainment of a Stock Price Target of $93.50; 575,000 PSUs will vest upon the attainment of a Stock Price Target of $140.00; 650,000 PSUs will vest upon the attainment of a Stock Price Target of $187.00; 650,000 PSUs will vest upon the attainment of a Stock Price Target of $233.50; and 650,000 PSUs will vest upon the attainment of a Stock Price Target of $280.50.