Form 4: DoubleVerify Holdings Chief Legal Officer Reports Stock Transactions
SEC Form 4 Filing
Andrew E. Grimmig, Chief Legal Officer of DoubleVerify Holdings, reported the vesting and settlement of restricted stock units, resulting in the acquisition of common stock.
Summary
- Andrew E. Grimmig, the Chief Legal Officer of DoubleVerify Holdings, has reported transactions involving restricted stock units.
- On December 15, 2024, Mr. Grimmig acquired 1,493 shares of common stock through the vesting of restricted stock units granted on December 10, 2021.
- He also acquired 2,500 shares of common stock from restricted stock units granted on December 12, 2022, and 2,384 shares from units granted on December 19, 2023.
- These transactions increased his direct holdings of common stock to 63,589 shares.
- The restricted stock units vest quarterly at a rate of 6.25% after an initial vesting date.
Sentiment
Score: 7
Explanation: The document reflects routine executive stock transactions, which are generally neutral to positive. The increase in holdings by the Chief Legal Officer could be seen as a positive sign of confidence.
Positives
- The vesting of restricted stock units indicates a continued alignment of management's interests with shareholders.
- The increase in direct holdings of common stock by a key executive could be seen as a positive sign of confidence in the company's future.
Industry Context
This filing is a routine disclosure of stock transactions by a company executive, which is common practice for publicly traded companies. It provides transparency into the ownership structure and executive compensation.
Comparison to Industry Standards
- The vesting schedule of 6.25% quarterly after an initial vesting date is a fairly standard practice for restricted stock unit grants in the tech industry.
- Many companies, such as those in the software and digital advertising sectors, use similar vesting schedules to incentivize and retain key employees.
- Companies like The Trade Desk and Magnite also use similar equity compensation plans for their executives.
Stakeholder Impact
- The transactions have a minor positive impact on shareholders as they indicate alignment of management's interests with the company's performance.
- The transactions have no direct impact on employees, customers, suppliers, or creditors.
Key Dates
| Date | Description |
|---|---|
| 12/10/2021 | Date of grant for the first tranche of restricted stock units. |
| 03/15/2022 | Initial vesting date for the 2021 restricted stock units. |
| 12/12/2022 | Date of grant for the second tranche of restricted stock units. |
| 03/15/2023 | Initial vesting date for the 2022 restricted stock units. |
| 12/19/2023 | Date of grant for the third tranche of restricted stock units. |
| 03/15/2024 | Initial vesting date for the 2023 restricted stock units. |
| 12/15/2024 | Date of the reported stock transactions. |
| 12/17/2024 | Date of signature on the Form 4 filing. |
Keywords
DoubleVerify Holdings, stock transaction, restricted stock units, insider trading, Form 4, executive compensation, share ownership, vesting
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