Form 4: DoubleVerify Director Reports Equity Grant and Transfers

Director R. Davis Noell reported the receipt of 20,000 restricted stock units and the transfer of board compensation shares to Providence Equity Partners.

Summary

• Director R. Davis Noell received an annual equity grant of 20,000 restricted stock units (RSUs) on May 21, 2026.
• The RSUs vest on the earlier of May 21, 2027, or the 2027 Annual Meeting of Stockholders.
• The director transferred 29,218 shares of common stock, previously received as board compensation, to Providence Equity Partners L.L.C. (PEP LLC) per internal policy.
• The reporting person maintains indirect beneficial ownership of over 18 million shares through various Providence Equity entities.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral administrative filing reflecting routine director compensation and internal share management.

Positives

• Director alignment with company equity through the receipt of 20,000 RSUs.
• Continued long-term investment and oversight by major shareholder Providence Equity Partners.

Negatives

• None identified; this is a standard administrative filing regarding director compensation and internal entity transfers.

Risks

• Continued service requirement for the vesting of the 20,000 RSUs granted to the director.

Future Outlook

The director's equity grant is subject to continued service through May 2027, indicating an expectation of ongoing board participation.

Management Comments

• The reporting person disclaims beneficial ownership of shares held by Providence entities except to the extent of their pecuniary interest.

Industry Context

StockSavvy.ai notes that this filing reflects standard corporate governance practices where private equity-backed directors manage their board compensation through their respective firm's internal compliance policies.

Comparison to Industry Standards

• The equity grant structure is consistent with standard non-employee director compensation programs for publicly traded technology companies.
• The use of internal policies to aggregate director compensation into a parent investment firm is common practice for directors representing private equity sponsors.

Corporate Governance

Related Party Transactions

• Transfer of 29,218 shares from director to Providence Equity Partners L.L.C. per internal policy.

Stakeholder Impact

• Minimal impact on shareholders as the transaction represents internal rebalancing of director compensation.

Next Steps

• Vesting of 20,000 RSUs on May 21, 2027, or the 2027 Annual Meeting of Stockholders.

Key Dates

Keywords

DoubleVerify, DV, Form 4, Director Compensation, Providence Equity Partners, Insider Trading, Equity Grant