Andrew E. Grimmig - Jun 15, 2023 Form 4 Insider Report for DoubleVerify Holdings, Inc. (DV)

Role
Chief Legal Officer
Signature
/s/ Andrew E. Grimmig
Stock symbol
DV
Transactions as of
Jun 15, 2023
Transactions value $
-$3,667,722
Form type
4
Date filed
6/20/2023, 04:05 PM
Previous filing
May 17, 2023
Next filing
Aug 17, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction DV Common Stock Options Exercise $0 +1.49K +2.62% $0.00 58.5K Jun 15, 2023 Direct F1
transaction DV Common Stock Tax liability -$26.7K -722 -1.23% $36.97 57.8K Jun 15, 2023 Direct F2
transaction DV Common Stock Options Exercise $413K +64K +110.81% $6.45* 122K Jun 15, 2023 Direct
transaction DV Common Stock Sale -$2.35M -64K -52.56% $36.79 57.8K Jun 15, 2023 Direct F3, F4
transaction DV Common Stock Options Exercise $361K +56K +96.95% $6.45* 114K Jun 16, 2023 Direct
transaction DV Common Stock Sale -$2.06M -56K -49.23% $36.79 57.8K Jun 16, 2023 Direct F3, F5

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 DV Restricted Stock Units Options Exercise $0 -1.49K -9.09% $0.00 14.9K Jun 15, 2023 Common Stock 1.49K Direct F1, F6
transaction DV Restricted Stock Units Options Exercise $0 -2.5K -6.67% $0.00 35K Jun 15, 2023 Common Stock 2.5K Direct F6, F7, F8
transaction DV Options (Rights to Buy) Options Exercise $0 -64K -19.93% $0.00 257K Jun 15, 2023 Common Stock 64K $6.45 Direct F9
transaction DV Options (Rights to Buy) Options Exercise $0 -56K -21.77% $0.00 201K Jun 16, 2023 Common Stock 56K $6.45 Direct F9
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 The restricted stock units were granted on December 10, 2021. 6.25% of the restricted stock units vested and were settled on March 15, 2022 (the "2022 Vesting Date"), and the remainder of the restricted stock units vest at a rate of 6.25% on each quarterly anniversary of the 2022 Vesting Date.
F2 Represents shares withheld to satisfy tax obligations in connection with the vesting of 1,493 RSUs on June 15, 2023.
F3 The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 22, 2022.
F4 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions ranging from $36.45 to $37.08, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.
F5 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions ranging from $36.62 to $37.02, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.
F6 Restricted stock units convert into common stock on a one-for-one basis.
F7 As reported previously, the reporting person made an election under the Issuer's deferred compensation plan to defer delivery of the first four tranches of vested shares until March 2024 or, if sooner, as soon as administratively feasible following his separation from service with the Issuer.
F8 The restricted stock units were granted on December 12, 2022. 6.25% of the restricted stock units vested on March 15, 2023 (the "2023 Vesting Date"), and the remainder of the restricted stock units vest at a rate of 6.25% on each quarterly anniversary of the 2023 Vesting Date.
F9 Represents non-qualified stock options granted on April 27, 2020, 25% of which vested on March 30, 2021 and the remainder of which vest at a rate of 6.25% per quarter thereafter, subject to Mr. Grimmig's continued employment.