Mistelle Locke - Jan 16, 2024 Form 4 Insider Report for Direct Digital Holdings, Inc. (DRCT)

Role
Director
Signature
/s/ Mark Walker, Attorney-in-fact for Mistelle Locke
Stock symbol
DRCT
Transactions as of
Jan 16, 2024
Transactions value $
$0
Form type
4
Date filed
1/22/2024, 06:00 AM
Previous filing
Jun 13, 2023
Next filing
Jan 29, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction DRCT Class A Common Stock Options Exercise +7.25K 7.25K Jan 16, 2024 Direct F1

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 -7.25K -33.33% $0.00 14.5K Jan 16, 2024 Class A Common Stock, par value $0.001 per share 7.25K Direct F1, F2
* 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 On January 16, 2023, the reporting person was granted 21,739 restricted stock units, vesting in three annual installments beginning on the first anniversary of the grant date. 33 percent of the restricted stock units vested on January 16, 2024, an additional 33 percent will vest on January 16, 2025, and the remaining balance of 34 percent of the restricted stock units will vest on January 16, 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).