Form 4: DoubleVerify CEO Mark Zagorski Reports Routine Equity Award Vesting and ESPP Share Acquisition

DoubleVerify Holdings, Inc. CEO Mark Zagorski filed a Form 4 detailing the acquisition of common stock through an employee stock purchase plan and the vesting of restricted and performance stock units, alongside sales to cover tax obligations.

Summary

• Mark Zagorski, Chief Executive Officer and Director of DoubleVerify Holdings, Inc. (DV), reported several transactions involving the company's common stock.
• On May 31, 2025, Mr. Zagorski acquired 1,141 shares of common stock at a price of $11.68 per share through the DoubleVerify Holdings, Inc. 2021 Employee Stock Purchase Plan (ESPP), which reflects a 15% discount.
• On June 15, 2025, Mr. Zagorski acquired a total of 32,249 shares of common stock at a price of $0 per share through the vesting of various Restricted Stock Units (RSUs) and Performance Stock Units (PSUs).
• Specifically, 15,220 RSUs (granted March 13, 2025), 2,756 PSUs (granted December 19, 2023), 7,802 RSUs (granted December 19, 2023), and 6,471 RSUs (granted December 10, 2021) vested.
• To satisfy tax obligations related to these vestings, Mr. Zagorski disposed of a total of 17,836 shares of common stock at a price of $14.5 per share.
• Following these reported transactions, Mr. Zagorski's direct beneficial ownership of DoubleVerify common stock stands at 453,639 shares.

Sentiment

Score: 6

Explanation: The filing details routine compensation-related stock acquisitions and sales for tax purposes, which are standard for executive equity awards and do not indicate a significant change in company outlook or insider sentiment. The increase in overall beneficial ownership is a minor positive.

Positives

• The CEO's participation in the Employee Stock Purchase Plan (ESPP) at a discounted price of $11.68 per share indicates continued investment in the company.
• Significant vesting of Restricted Stock Units (RSUs) and Performance Stock Units (PSUs) demonstrates the realization of long-term incentive compensation for the CEO.
• The increase in total shares beneficially owned by the CEO, even after tax-related sales, reflects a growing stake in the company.

Negatives

• A substantial number of shares (17,836) were disposed of at $14.5 per share to cover tax obligations, which is a common practice but reduces the direct shareholding.

Future Outlook

NA

Industry Context

NA

Stakeholder Impact

• Shareholders: The report provides transparency into executive compensation and ownership, which is generally positive for corporate governance. The transactions themselves are routine and unlikely to have a significant direct impact on share price.
• Employees: The Employee Stock Purchase Plan (ESPP) mentioned is a benefit offered to employees, encouraging broader ownership.

Key Dates

Keywords

DoubleVerify Holdings, DV, Mark Zagorski, SEC Form 4, Insider Trading, Stock Transactions, RSU Vesting, PSU Vesting, Employee Stock Purchase Plan, Tax Withholding, Executive Compensation