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

Director Mary Spilman of Digital Turbine, Inc. received a grant of 24,000 shares of restricted common stock as compensation for her services as a non-employee director.

Summary

• Mary Spilman, a director at Digital Turbine, Inc., received 24,000 shares of restricted common stock on July 31, 2024.
• The grant is part of her compensation for serving as a non-employee director from August 1, 2024, through July 31, 2025.
• The shares will vest in four equal quarterly installments on October 31, 2024, January 31, 2025, April 30, 2025, and July 31, 2025.
• Unvested shares will automatically vest if Spilman 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 signal.

Positives

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

Industry Context

Director compensation packages often include stock grants to align the interests of board members with those of shareholders. This is a common practice in publicly traded companies.

Comparison to Industry Standards

• Stock grants for non-employee directors are a standard component of compensation packages in the tech industry.
• The size of the grant is likely benchmarked against peer companies of similar market capitalization and revenue.
• Companies like PubMatic, Magnite, and ironSource also utilize stock grants as part of their director compensation.

Stakeholder Impact

• Shareholders may view the stock grant positively as it aligns the director's interests with the company's long-term success.
• The director is incentivized to contribute to the company's growth and profitability.

Key Dates