Form 4: DoubleVerify CEO Mark Zagorski Reports Acquisition of Performance Stock Units

Mark Zagorski, CEO of DoubleVerify Holdings, reports the acquisition of 33,078 performance stock units (PSUs) following the certification of performance-based conditions.

Summary

• On March 6, 2025, Mark Zagorski, CEO of DoubleVerify Holdings, reported the acquisition of 33,078 performance stock units.
• These PSUs were granted on December 19, 2023, as part of a larger grant of 62,413 units.
• The acquisition was triggered by the certification of performance-based conditions by DoubleVerify's Compensation Committee.
• 41.67% of the earned shares will vest and settle on March 15, 2025, with the remaining shares vesting quarterly at a rate of 8.33%.
• The PSUs convert into common stock on a one-for-one basis.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive as the vesting of PSUs suggests that performance targets were met. It's a routine filing, but the underlying performance achievement is a positive indicator.

Positives

• The vesting of performance stock units indicates that performance targets were met, which is a positive signal.

Future Outlook

The remaining earned shares will continue to vest quarterly, indicating ongoing alignment with company performance.

Industry Context

The granting and vesting of performance stock units are common practices in the industry to incentivize and retain key executives, aligning their interests with those of the shareholders.

Comparison to Industry Standards

• Performance-based equity compensation is a standard practice among publicly traded companies, particularly in the tech and advertising verification sectors.
• Companies like Integral Ad Science (IAS) and Comscore (SCOR) also utilize similar equity-based compensation plans to incentivize their executives.
• The vesting schedules and performance metrics associated with these grants often vary based on company-specific goals and industry benchmarks.

Stakeholder Impact

• The vesting of PSUs aligns management's interests with those of shareholders, potentially driving long-term value creation.

Next Steps

• Continued quarterly vesting of the remaining earned shares.

Key Dates