Form 4: Digital Turbine Director Receives Stock Grant as Part of Compensation Package
SEC Form 4 Filing
Robert M. Deutschman, a director at Digital Turbine, Inc., was granted 36,000 shares of restricted common stock as part of his compensation for services as a non-employee director.
Summary
- Robert M. Deutschman, a director of Digital Turbine, Inc., received 36,000 shares of restricted common stock on July 31, 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.
- Deutschman directly owns 406,555 shares and indirectly owns 318,268 shares through a trust where he is the trustee.
Sentiment
Score: 7
Explanation: The document reflects a routine compensation practice, indicating stability and alignment of interests. It's a neutral-positive event.
Positives
- The stock grant aligns the director's interests with those of the shareholders.
- The vesting schedule encourages continued service and commitment to the company.
Future Outlook
The document does not contain specific forward-looking statements beyond the vesting schedule of the granted shares.
Industry Context
Granting stock options to board members is a common practice to align their interests with the long-term success of the company. This is a standard method of compensation for non-employee directors.
Comparison to Industry Standards
- Stock grants to non-employee directors are a common practice across the tech industry.
- Companies like Google (Alphabet Inc.) and Meta (Facebook) also use stock grants as part of their director compensation packages.
- The size of the grant is typical for companies of Digital Turbine's size and market capitalization.
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 over the vesting period.
Key Dates
| Date | Description |
|---|---|
| 07/31/2024 | Date of transaction: Grant of restricted common stock. |
| 08/01/2024 | Start of service period for which the stock grant is compensation. |
| 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 | End of service period and final quarterly vesting date for the restricted stock. |
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