Form 4: DigitalOcean Director Warren Jenson Acquires Shares Through Restricted Stock Units
SEC Form 4 Filing
Director Warren Jenson acquired 386 shares of DigitalOcean Holdings, Inc. through restricted stock units (RSUs) on June 30, 2024, at a price of $33.97 per share.
Summary
- On June 30, 2024, Warren Jenson, a director of DigitalOcean Holdings, Inc., acquired 386 shares of common stock through restricted stock units (RSUs).
- The price per share was $33.97.
- These RSUs were granted in lieu of quarterly retainer fees, according to the issuer's non-employee director compensation policy.
- The number of shares was calculated by dividing $13,125 by the average closing price of DigitalOcean's common stock over the 10 trading days prior to and including the grant date.
- As of the transaction, Jenson directly owns 22,672 shares of DigitalOcean.
- The RSUs are fully vested as of the grant date.
Sentiment
Score: 7
Explanation: The sentiment is neutral to slightly positive. It reflects a routine transaction related to director compensation, which is generally viewed as a positive sign of alignment between management and shareholders.
Positives
- The acquisition of shares by a director can be seen as a positive sign, indicating confidence in the company's future.
Industry Context
This filing reflects standard compensation practices for non-employee directors, using equity to align their interests with those of the shareholders. It's common for tech companies to use RSUs as part of their compensation packages.
Comparison to Industry Standards
- Granting RSUs to directors is a common practice among publicly traded companies, especially in the tech industry.
- Companies like Amazon, Microsoft, and Google also use equity-based compensation to align the interests of their directors with those of the shareholders.
- The specific amount and vesting schedule can vary based on the company's size, performance, and compensation policies.
Stakeholder Impact
- The transaction has a minor positive impact on shareholders as it aligns the director's interests with the company's performance.
Key Dates
| Date | Description |
|---|---|
| 06/30/2024 | Date of transaction (acquisition of shares through RSUs) |
| 07/02/2024 | Date of signature on the Form 4 filing |
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