Form 4: Digital Turbine Executive Sells Shares to Cover Tax Obligations

Digital Turbine's Chief Business Officer, Michael Akkerman, sold 19,313 shares of common stock to cover tax obligations related to vesting.

Summary

• Michael Akkerman, Chief Business Officer of Digital Turbine, Inc., sold 19,313 shares of common stock on December 3, 2024.
• The sale was executed at a price of $1.46 per share.
• This transaction was conducted to cover tax obligations arising from the vesting of stock units.
• No new shares were issued as part of this transaction; instead, existing units were disposed of.
• Following the transaction, Akkerman directly owns 389,278 shares of Digital Turbine common stock.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction for tax purposes, with no indication of positive or negative sentiment.

Industry Context

This is a routine transaction for executives who receive stock-based compensation. It is common for executives to sell shares to cover tax liabilities when stock options or restricted stock units vest.

Comparison to Industry Standards

• Executive stock sales for tax purposes are a common practice across publicly traded companies.
• The sale by Michael Akkerman is similar to transactions seen at other tech companies where executives receive equity as part of their compensation.
• The number of shares sold and the price are within the typical range for such transactions, and do not indicate any unusual activity.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine sale for tax purposes.
• There is no impact on employees, customers, suppliers, or creditors.

Key Dates

Keywords

Digital Turbine, Michael Akkerman, stock sale, insider trading, tax obligations, vesting, APPS