W. KEITH SMITH - 20 Mar 2023 Form 4 Insider Report for Direct Digital Holdings, Inc. (DRCT)

Role
President, Director, 10%+ Owner
Signature
/s/ Susan Echard, Attorney-in-fact for Keith W. Smith
Issuer symbol
DRCT
Transactions as of
20 Mar 2023
Net transactions value
$0
Form type
4
Filing time
22 Mar 2023, 17:01:30 UTC
Previous filing
25 Nov 2022
Next filing
23 Aug 2023
SEC
View on sec.gov

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 +40,000 $0.000000 40,000 20 Mar 2023 Class A Common Stock, par value $0.001 per share 40,000 Direct F1, F2
transaction DRCT Restricted Stock Units Award $0 +29,910 $0.000000 29,910 20 Mar 2023 Class A Common Stock, par value $0.001 per share 29,910 Direct F1, F3
transaction DRCT Employee Stock Options (right to buy) Award $0 +29,910 $0.000000 29,910 20 Mar 2023 Class A Common Stock, par value $0.001 per share 29,910 $3.96 Direct 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 The restricted stock units will vest 100% on March 20, 2024. 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 The restricted stock units will vest in three equal annual installments, beginning on March 20, 2024. 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).
F4 This option is scheduled to vest in three equal annual installments beginning on March 20, 2024.