Form 4: Digital Turbine Director Jeff Karish Receives Stock Grant as Compensation
SEC Form 4 Filing
Director Jeff Karish receives a grant of 44,368 shares of Digital Turbine restricted common stock as compensation for services.
Summary
- Jeff Karish, a director at Digital Turbine, Inc., received 44,368 shares of restricted common stock on September 3, 2024.
- The grant is part of his compensation for serving as a non-employee director from August 1, 2024, through July 31, 2025.
- The shares vest in four equal quarterly installments starting October 31, 2024, and ending July 31, 2025.
- Unvested shares will automatically vest if Karish is not re-elected or nominated for re-election at the annual meeting of stockholders, provided the meeting occurs before the final vesting date.
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 encourages continued service and commitment from the director.
Future Outlook
The director's compensation structure is set for the period ending July 31, 2025, with vesting milestones in place.
Industry Context
Stock grants are a common form of compensation for directors, aligning their interests with shareholders and incentivizing performance.
Comparison to Industry Standards
- Director compensation packages vary widely across the tech industry, but equity grants are a standard component.
- Companies like PubMatic and ironSource also use equity-based compensation for their board members.
- The size of the grant is relative to the company's market capitalization and the director's role and responsibilities.
Stakeholder Impact
- Shareholders may view the stock grant positively as it aligns the director's interests with the company's performance.
- The director is incentivized to contribute to the company's success to maximize the value of their stock holdings.
Key Dates
| Date | Description |
|---|---|
| 08/01/2024 | Start of the period for which the stock grant compensates director services. |
| 09/03/2024 | Date of the transaction: Grant of restricted common stock. |
| 09/04/2024 | Date of signature on the SEC 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 director services. |
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