Form 4: Digital Turbine Director Deutschman Receives Stock Grant
SEC Form 4 Filing
Robert M. Deutschman, a director at Digital Turbine, Inc., received a grant of restricted common stock as part of his compensation.
Summary
- Robert M. Deutschman, a director of Digital Turbine, Inc., filed a Form 4 indicating changes in beneficial ownership.
- On September 3, 2024, Deutschman received 64,661 shares of restricted common stock as part of his compensation for services as a non-employee director.
- These shares were granted under the Issuer's 2020 Equity Incentive Plan.
- The shares vest in four equal quarterly increments starting October 31, 2024, and ending July 31, 2025.
- Deutschman directly owns 471,216 shares of common stock following the transaction.
- He also indirectly owns 318,268 shares through a trust where he serves as trustee but disclaims beneficial ownership except to the extent of his pecuniary interest.
Sentiment
Score: 7
Explanation: The document reflects a routine director compensation event, which is generally neutral to slightly positive as it aligns director interests with shareholders.
Positives
- The grant of restricted stock aligns the director's interests with those of the shareholders.
- The vesting schedule encourages continued service and commitment to the company.
Industry Context
Director compensation through stock grants is a common practice in the tech industry to align the interests of board members with those of shareholders.
Comparison to Industry Standards
- Stock grants to non-employee directors are a standard practice across publicly traded companies, including those comparable to Digital Turbine such as ironSource (now part of Unity) and AppLovin.
- The size of the grant is likely determined by factors such as company size, board responsibilities, and industry benchmarks for director compensation.
Stakeholder Impact
- Shareholders may view the stock grant positively as it incentivizes the director to act in their best interests.
- The grant has no immediate impact on employees, customers, suppliers, or creditors.
Key Dates
| Date | Description |
|---|---|
| 08/01/2024 | Start of the period for which the stock grant compensates Deutschman's services as a non-employee director. |
| 09/03/2024 | Date of the transaction: grant of restricted common stock. |
| 09/04/2024 | Date of signature on the Form 4 filing. |
| 10/31/2024 | First quarterly vesting date for the restricted stock. |
| 01/31/2025 | Second quarterly vesting date for the restricted stock. |
| 04/30/2025 | Third quarterly vesting date for the restricted stock. |
| 07/31/2025 | Final quarterly vesting date for the restricted stock and end of the period for which the stock grant compensates Deutschman's services. |
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