Form 4: DoubleVerify Director Sells Shares in Planned Transaction

DoubleVerify Holdings, Inc. Director J. David Phillips reported the sale of 15,360 shares of common stock for $10.413 per share.

Summary

• J. David Phillips, a Director and 10% Owner of DoubleVerify Holdings, Inc. (DV), reported a transaction.
• The transaction involved the disposition of 15,360 shares of Common Stock.
• The shares were sold at a price of $10.413 per share.
• The sale occurred on November 21, 2025, and was reported as a sale in accordance with Rule 144 under the Securities Act.
• Following this transaction, J. David Phillips directly beneficially owns 15,360 shares of Common Stock.
• Additionally, J. David Phillips indirectly beneficially owns 18,173,777 shares through Providence VII U.S. Holdings L.P. and 117,131 shares through Providence Butternut Co-Investment L.P.
• Phillips disclaims beneficial ownership of the indirectly held shares, except to the extent of his pecuniary interest.

Sentiment

Score: 5

Explanation: The filing reports a routine, pre-scheduled insider transaction, which is generally considered neutral in sentiment. The sale is explicitly stated as being in accordance with Rule 144 and potentially a 10b5-1 plan, indicating a planned liquidity event rather than a reaction to new information.

Negatives

• An insider sale, even if pre-scheduled, can sometimes be perceived negatively by investors, though this transaction is explicitly stated as a planned sale under Rule 144.

Future Outlook

The filing does not contain any forward-looking statements or guidance regarding the company's future performance or outlook.

Management Comments

• J. David Phillips disclaims beneficial ownership of the shares held by Providence VII U.S. Holdings L.P. and Providence Butternut Co-Investment L.P., except to the extent of his pecuniary interest therein.

Industry Context

This filing is a routine insider transaction report and does not provide information directly related to broader industry trends or competitive landscape for DoubleVerify Holdings, Inc.

Related Party Transactions

• J. David Phillips' indirect beneficial ownership through Providence VII U.S. Holdings L.P. and Providence Butternut Co-Investment L.P. represents holdings by entities with which he has relationships, and he disclaims beneficial ownership except for his pecuniary interest.

Stakeholder Impact

• Shareholders: A director's sale of shares, even if planned, could be interpreted in various ways, but the relatively small direct sale amount compared to indirect holdings and the pre-scheduled nature (Rule 144/10b5-1) suggest minimal impact.
• Employees, Customers, Suppliers, Creditors: No direct impact is indicated by this insider transaction report.

Key Dates

Keywords

DoubleVerify Holdings, DV, Insider Transaction, Form 4, Stock Sale, Director, Providence Equity, Rule 144, 10b5-1