Form 4: DoubleVerify CFO Nicola T. Allais Reports Stock Transactions
SEC Form 4
Nicola T. Allais, CFO of DoubleVerify Holdings, Inc., reports the vesting and sale of common stock and derivative securities.
Summary
- On March 15, 2024, Nicola T. Allais, the CFO of DoubleVerify Holdings, Inc., engaged in multiple transactions involving the company's common stock and restricted stock units.
- These transactions included the vesting of restricted stock units granted on December 10, 2021, December 12, 2022, and December 19, 2023.
- A portion of the vested shares were withheld to satisfy tax obligations.
- Additionally, Allais exercised options to acquire 5,364 shares of common stock at a price of $2.01 on March 18, 2024.
- Allais also sold 5,364 shares of common stock on March 18, 2024, at a weighted average price of $32.7961, with individual sales ranging from $32.71 to $32.96.
- These sales were executed under a Rule 10b5-1 trading plan adopted on November 14, 2023.
- Following these transactions, Allais directly owns 73,030 shares of DoubleVerify Holdings, Inc. common stock and 384,836 options.
- The restricted stock units convert into common stock on a one-for-one basis.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the document simply reports transactions by an officer, which are part of a pre-arranged trading plan. There is no indication of positive or negative sentiment towards the company's prospects.
Positives
- The transactions are part of a pre-arranged Rule 10b5-1 trading plan, suggesting they were planned in advance and not based on immediate insider information.
Industry Context
Form 4 filings are a routine part of the financial markets, providing transparency into the transactions of company insiders. These filings are closely watched by investors seeking insights into management's perspective on the company's stock.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in ownership, but the pre-arranged nature of the sales mitigates concerns about insider information.
Key Dates
| Date | Description |
|---|---|
| 2018-01-04 | Non-qualified stock options granted. |
| 2018-11-06 | 25% of options vested, with remainder vesting quarterly thereafter. |
| 2021-11-06 | Options fully vested. |
| 2021-12-10 | Restricted stock units granted. |
| 2022-03-15 | 2022 Vesting Date: 6.25% of restricted stock units vested and were settled. |
| 2022-12-12 | Restricted stock units granted. |
| 2023-03-15 | 2023 Vesting Date: 6.25% of restricted stock units vested and were settled. |
| 2023-11-14 | Rule 10b5-1 trading plan adopted by the reporting person. |
| 2023-12-19 | Restricted stock units granted. |
| 2024-03-15 | Vesting and settlement of restricted stock units; shares withheld for tax obligations. |
| 2024-03-18 | Exercise of options and sale of common stock. |
| 2028-01-04 | Expiration date of options. |
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