Form 4: Digital Turbine Director Roy H. Chestnutt Receives Stock Grant as Compensation

Roy H. Chestnutt, a director at Digital Turbine, Inc., received a grant of 43,711 shares of restricted common stock as part of his compensation for services as a non-employee director.

Summary

• On September 3, 2024, Roy H. Chestnutt, a director of Digital Turbine, Inc., was granted 43,711 shares of restricted common stock.
• This 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 increments starting October 31, 2024, and ending July 31, 2025.
• The last quarter of unvested shares will automatically vest if Chestnutt is not re-elected or nominated for re-election and the annual meeting occurs before the final vesting date.
• Following this transaction, Chestnutt directly owns 209,364 shares of Digital Turbine common stock.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The stock grant is a standard practice and aligns director interests with shareholders. There are no explicit negative implications.

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 vesting schedule suggests continued service from the director through July 2025.

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.
• Companies like Meta, Alphabet, and Amazon also use stock-based compensation for their board members.
• The size of the grant is relative to the company's market capitalization and the director's responsibilities.
• Comparing Digital Turbine's director compensation to similar-sized ad-tech companies would provide a more accurate benchmark.

Stakeholder Impact

• Shareholders may view the stock grant positively as it aligns the director's interests with the company's performance.
• The director benefits from the increased equity stake in the company.

Key Dates