Form 4: Digital Turbine Chief Technology Officer Sells Shares to Cover Tax Obligations

Digital Turbine's Chief Technology Officer, Senthilkumaran Kanagaratnam, disposed of 486 shares of common stock to cover tax obligations related to vesting.

Summary

• Senthilkumaran Kanagaratnam, the Chief Technology Officer of Digital Turbine, Inc., sold 486 shares of common stock on November 22, 2024.
• The sale was executed at a price of $1.52 per share.
• This transaction was not a direct sale for profit, but rather a disposal of shares to cover tax obligations arising from the vesting of stock units.
• Following the transaction, Mr. Kanagaratnam directly owns 149,063 shares of Digital Turbine stock.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction related to executive compensation and does not indicate any positive or negative sentiment towards the company's performance or future prospects.

Industry Context

This is a routine transaction for executives who receive stock-based compensation. It is common for executives to sell shares to cover tax obligations when stock units vest.

Comparison to Industry Standards

• Executive stock sales to cover tax obligations are a common practice across the technology industry.
• Many companies use stock-based compensation as part of their executive pay packages, leading to similar transactions.
• The number of shares sold and the price are specific to Digital Turbine and the executive's compensation package, making direct comparisons difficult without further context.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine sale to cover tax obligations.
• The sale does not indicate any change in the executive's confidence in the company.

Key Dates

Keywords

Digital Turbine, stock sale, insider trading, Form 4, Senthilkumaran Kanagaratnam, executive compensation, tax obligations, share disposal