Form 4: DoubleVerify Director Kelli Turner Reports Routine Equity Transactions, Including RSU Vesting and New Grant

DoubleVerify Holdings, Inc. Director Kelli Turner reported the vesting of previously granted restricted stock units (RSUs) and the acquisition of common stock, alongside the grant of new annual equity compensation.

Summary

• Kelli Turner, a Director at DoubleVerify Holdings, Inc., reported changes in her beneficial ownership of company securities.
• On May 21, 2025, 10,724 restricted stock units (RSUs) granted on May 23, 2024, fully vested and converted into common stock.
• Following this conversion, Ms. Turner acquired 10,724 shares of common stock at a price of $0.
• Concurrently, Ms. Turner was granted 14,609 new time-based restricted stock units on May 21, 2025, as part of the company's non-employee director compensation program.
• These newly granted RSUs are scheduled to vest on the earlier of May 21, 2026, or the date of DoubleVerify Holdings, Inc.'s 2026 Annual Meeting of Stockholders, subject to her continued service.
• After these transactions, Ms. Turner beneficially owns 25,479 shares of common stock and 14,609 restricted stock units.

Sentiment

Score: 7

Explanation: The document reports routine and expected equity transactions for a director, including the vesting of prior awards and the grant of new annual compensation. This indicates continued alignment of director interests with the company's performance and no unusual or negative events.

Positives

• The grant of new restricted stock units aligns the director's interests with those of shareholders, as her compensation is tied to the company's future performance.
• The transactions represent routine compensation events for a non-employee director, indicating stable corporate governance practices regarding executive and director remuneration.

Future Outlook

The newly granted restricted stock units are expected to vest on the earlier of May 21, 2026, or the date of DoubleVerify Holdings, Inc.'s 2026 Annual Meeting of Stockholders, contingent on Ms. Turner's continued service.

Industry Context

This Form 4 filing is a standard disclosure for insider equity transactions, common across all publicly traded companies. It reflects routine compensation practices for non-employee directors within the ad-tech and digital measurement industry, similar to practices in other sectors.

Comparison to Industry Standards

• The structure of granting restricted stock units as part of non-employee director compensation is a common practice across various industries, including technology and media, aligning director incentives with long-term shareholder value.
• The vesting schedule (typically annual or tied to the next annual meeting) for director equity grants is standard, ensuring continued engagement and oversight.

Corporate Governance

Related Party Transactions

• The reported transactions involve the grant and vesting of equity compensation to a director, which is a standard related-party transaction for executive and director remuneration.

Stakeholder Impact

• Shareholders: The equity grants align the director's financial interests with the long-term performance of the company, potentially benefiting shareholders through improved governance and strategic oversight.

Next Steps

• The 14,609 restricted stock units granted on May 21, 2025, are expected to vest on the earlier of May 21, 2026, or the date of DoubleVerify Holdings, Inc.'s 2026 Annual Meeting of Stockholders.

Key Dates

Recommendation

Keywords

DoubleVerify Holdings Inc., DV, Kelli Turner, SEC Form 4, Insider Transaction, Restricted Stock Units, Equity Compensation, Director Compensation, Beneficial Ownership, Corporate Governance