Form 4: DigitalOcean Director Warren Jenson Acquires Restricted Stock Units

Warren Jenson, a director at DigitalOcean Holdings, Inc., acquired 370 restricted stock units (RSUs) on December 31, 2024, in lieu of quarterly retainer fees.

Summary

• On December 31, 2024, Warren Jenson, a director of DigitalOcean Holdings, Inc., acquired 370 restricted stock units (RSUs).
• The RSUs were granted in lieu of quarterly retainer fees, as per the company's non-employee director compensation policy.
• Each RSU represents a contingent right to receive one share of DigitalOcean's common stock.
• The RSUs were granted based on a valuation of $35.41 per share, calculated as the average closing price of DigitalOcean's common stock on the NYSE for the 10 trading days prior to and ending on the date of grant.
• The total value of the RSUs granted is $13,125 ($13,125 divided by $35.41 equals 370 shares).
• As of the date of grant, the shares underlying these RSUs are fully vested.
• Following the transaction, Jenson directly owns 23,359 shares of DigitalOcean common stock.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction (director compensation) and doesn't contain any alarming information. The sentiment is neutral to slightly positive as it indicates director alignment with shareholder interests.

Positives

• The acquisition of RSUs by a director signals confidence in the company's future performance.
• The use of RSUs in lieu of cash retainer fees can help conserve company cash.

Industry Context

This type of equity compensation is common for directors of publicly traded companies, aligning their interests with those of shareholders.

Comparison to Industry Standards

• Granting RSUs to non-employee directors is a standard practice among publicly traded companies.
• The value of the grant ($13,125) appears to be in line with typical director compensation packages for companies of DigitalOcean's size and stage.
• Comparable companies such as Cloudflare and Fastly also utilize equity-based compensation for their board members.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns the director's interests with the company's long-term success.

Key Dates