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

Role
Chief Legal Officer
Signature
/s/ Andrew E. Grimmig
Issuer symbol
DV
Transactions as of
15 Jun 2023
Net transactions value
-$3,667,722
Form type
4
Filing time
20 Jun 2023, 16:05:04 UTC
Previous filing
17 May 2023
Next filing
17 Aug 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction DV Common Stock Options Exercise $0 +1,493 +2.6% $0.000000 58,482 15 Jun 2023 Direct F1
transaction DV Common Stock Tax liability $26,692 -722 -1.2% $36.97 57,760 15 Jun 2023 Direct F2
transaction DV Common Stock Options Exercise $412,806 +64,001 +111% $6.45* 121,761 15 Jun 2023 Direct
transaction DV Common Stock Sale $2,354,686 -64,001 -53% $36.79 57,760 15 Jun 2023 Direct F3, F4
transaction DV Common Stock Options Exercise $361,194 +55,999 +97% $6.45* 113,759 16 Jun 2023 Direct
transaction DV Common Stock Sale $2,060,343 -55,999 -49% $36.79 57,760 16 Jun 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 -1,493 -9.1% $0.000000 14,930 15 Jun 2023 Common Stock 1,493 Direct F1, F6
transaction DV Restricted Stock Units Options Exercise $0 -2,500 -6.7% $0.000000 35,000 15 Jun 2023 Common Stock 2,500 Direct F6, F7, F8
transaction DV Options (Rights to Buy) Options Exercise $0 -64,001 -20% $0.000000 257,173 15 Jun 2023 Common Stock 64,001 $6.45 Direct F9
transaction DV Options (Rights to Buy) Options Exercise $0 -55,999 -22% $0.000000 201,174 16 Jun 2023 Common Stock 55,999 $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.