Form 4: Digital Turbine Director Holly Hess Groos Receives Restricted Stock Grant

Digital Turbine director Holly Hess Groos received a grant of 45,355 shares of restricted common stock as part of her compensation for services as a non-employee director.

Summary

• On September 3, 2024, Holly Hess Groos, a director of Digital Turbine, Inc. (APPS), acquired 45,355 shares of restricted common stock.
• The grant was made pursuant to the Issuer's 2020 Equity Incentive Plan as compensation for services as a non-employee director for the period August 1, 2024, through July 31, 2025.
• The shares vest in four equal quarterly increments on October 31, 2024, January 31, 2025, April 30, 2025, and July 31, 2025.
• The last quarter of unvested shares will automatically vest as of the annual meeting of stockholders if the Reporting Person either is not re-elected or is not nominated for re-election, and the annual meeting occurs before the final vesting of the grant.
• Following the transaction, Groos directly owns 107,958 shares of Digital Turbine common stock.

Sentiment

Score: 7

Explanation: The document reflects a standard compensation practice, indicating stability and alignment of interests. It's a neutral to slightly positive event.

Positives

• The grant of restricted stock aligns the director's interests with those of the shareholders.
• The vesting schedule incentivizes continued service on the board.

Future Outlook

The director's compensation structure is set for the period ending July 31, 2025, with vesting tied to continued service.

Industry Context

Granting restricted stock to directors is a common practice to align their interests with the long-term success of the company and its shareholders.

Comparison to Industry Standards

• Director compensation packages often include a mix of cash and equity.
• The size of the equity grant is typical for non-employee directors at companies of Digital Turbine's size and market capitalization.
• Vesting schedules are generally structured to incentivize long-term commitment and alignment with shareholder value.

Stakeholder Impact

• Shareholders benefit from the alignment of director interests with long-term company performance.
• The director is incentivized to contribute to the company's success through the vesting of the restricted stock.

Key Dates