Form 4: DoubleVerify CLO Equity Vesting & Settlement Reported

DoubleVerify's Chief Legal Officer, Andrew E. Grimmig, reported the routine vesting and settlement of various restricted and performance stock units.

Summary

• Andrew E. Grimmig, Chief Legal Officer of DoubleVerify Holdings, Inc., reported changes in beneficial ownership through a Form 4 filing.
• On March 15, 2026, 12,189 shares of common stock were acquired upon the vesting and settlement of restricted stock units that were granted on March 12, 2026.
• On March 15, 2026, 20,204 shares of common stock were acquired upon the vesting and settlement of performance stock units that were granted on March 13, 2025.
• On March 15, 2026, 5,073 shares of common stock were acquired upon the vesting and settlement of restricted stock units that were granted on March 13, 2025.
• On March 15, 2026, 842 shares of common stock were acquired upon the vesting and settlement of performance stock units that were granted on December 19, 2023.
• On March 15, 2026, 2,384 shares of common stock were acquired upon the vesting and settlement of restricted stock units that were granted on December 19, 2023.
• On March 15, 2026, 2,500 shares of common stock were acquired upon the vesting and settlement of restricted stock units that were granted on December 12, 2022.
• Following these transactions, Andrew E. Grimmig beneficially owns 142,689 shares of common stock directly.
• Additionally, 146,250 Restricted Stock Units were granted on March 12, 2026, with 8.33% vesting on March 15, 2026, and the remainder scheduled to vest quarterly.
• Remaining derivative securities include 134,061 Restricted Stock Units, 28,281 Performance Stock Units, 55,803 Restricted Stock Units, 2,528 Performance Stock Units, 16,685 Restricted Stock Units, and 7,500 Restricted Stock Units, all converting to common stock on a one-for-one basis upon vesting.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a neutral-to-slightly positive event, reflecting routine executive compensation and alignment of interests, without indicating any significant operational or financial changes.

Positives

• The vesting and settlement of equity awards align the Chief Legal Officer's financial interests with those of the company's shareholders.
• The acquisition of common stock increases the direct beneficial ownership of a key executive, demonstrating continued commitment to the company.

Negatives

• The vesting and settlement of equity awards, while standard, can lead to a slight increase in the outstanding share count over time, potentially causing minor dilution for existing shareholders.

Risks

• Equity compensation plans, while designed to align interests, can lead to dilution if not managed effectively in relation to overall share count.
• The future value of the executive's vested and unvested equity is directly tied to the company's stock price performance, exposing compensation to market fluctuations.

Future Outlook

The remaining unvested Restricted Stock Units and Performance Stock Units will continue to vest and settle on a quarterly basis according to their respective schedules, aligning future compensation with company performance over time.

Industry Context

StockSavvy.ai notes that the vesting and settlement of equity awards for executives, such as those reported by DoubleVerify's Chief Legal Officer, are standard practice across the technology and ad-tech industries. This compensation structure is widely used to attract, retain, and incentivize key talent by linking their financial success directly to the long-term performance of the company, similar to practices at peers like The Trade Desk or Magnite.

Comparison to Industry Standards

• The use of Restricted Stock Units (RSUs) and Performance Stock Units (PSUs) as a significant component of executive compensation is a common practice among publicly traded technology companies, including those in the ad-tech sector like The Trade Desk, Magnite, and PubMatic.
• The vesting schedules, typically over several years with quarterly or annual tranches, are consistent with industry benchmarks designed to promote long-term executive retention and alignment with shareholder interests.
• The one-for-one conversion of units to common stock is standard for these types of equity awards, ensuring direct correlation between the executive's compensation value and the company's share price.

Stakeholder Impact

• Shareholders: The vesting of equity awards aligns the executive's long-term interests with shareholder value creation, but also results in a minor increase in outstanding shares over time due to dilution from equity compensation.
• Employees: This filing highlights the company's use of equity-based compensation, which can be a positive signal for employee retention and motivation across the organization.

Next Steps

• Remaining unvested Restricted Stock Units granted on March 12, 2026, will continue to vest at a rate of 8.33% on each quarterly anniversary of March 15, 2026.
• Remaining unvested Performance Stock Units granted on March 13, 2025, will continue to vest at a rate of 8.33% on each quarterly anniversary of March 15, 2026.
• Remaining unvested Restricted Stock Units granted on March 13, 2025, will continue to vest at a rate of 6.25% on each quarterly anniversary of March 15, 2025.
• Remaining unvested Performance Stock Units granted on December 19, 2023, will continue to vest at a rate of 8.33% on each quarterly anniversary of March 15, 2025.
• Remaining unvested Restricted Stock Units granted on December 19, 2023, will continue to vest at a rate of 6.25% on each quarterly anniversary of March 15, 2024.
• Remaining unvested Restricted Stock Units granted on December 12, 2022, will continue to vest at a rate of 6.25% on each quarterly anniversary of March 15, 2023.

Key Dates

Recommendation

This Form 4 filing details routine executive equity compensation vesting and settlement, which is a standard operational event and does not provide new material information to warrant a change in investment recommendation. It primarily confirms the ongoing alignment of executive incentives with shareholder interests.

Keywords

DoubleVerify Holdings, DV, Form 4, Insider Transaction, Equity Compensation, RSU, PSU, Stock Vesting, Chief Legal Officer, Andrew E. Grimmig