Form 4: Digital Turbine Director, Mary Spilman, Receives Stock Grant as Compensation

Digital Turbine director Mary Spilman received 43,053 shares of restricted common stock as compensation for her services as a non-employee director.

Summary

• On September 3, 2024, Mary Spilman, a director of Digital Turbine, Inc. (APPS), acquired 43,053 shares of common stock.
• The shares were granted as restricted common stock under the company's 2020 Equity Incentive Plan.
• This grant is part of her 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.
• If Spilman is not re-elected or nominated for re-election and the annual meeting occurs before the final vesting date, the remaining unvested shares will vest automatically.

Sentiment

Score: 7

Explanation: The document reflects a standard compensation practice, indicating stability and alignment of interests. It's a neutral-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 document does not contain any forward-looking statements regarding the company's future performance.

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 for non-employee directors are a standard practice across publicly traded companies, particularly in the technology sector.
• The size of the grant is likely benchmarked against peer companies of similar market capitalization and stage of growth.
• Companies like PubMatic and ironSource, which operate in similar digital advertising spaces, also utilize equity compensation for their board members.

Stakeholder Impact

• Shareholders may view the stock grant positively as it aligns the director's interests with the company's long-term success.
• The grant has a minor dilutive effect on existing shareholders.

Key Dates