Form 4: DoubleVerify Officer Boosts Stake via ESPP, RSU Vesting

Julie Eddleman, Global Chief Communications Officer at DoubleVerify Holdings, Inc., increased her beneficial ownership through an Employee Stock Purchase Plan and multiple restricted and performance stock unit vestings.

Summary

• Julie Eddleman, Global Chief Communications Officer of DoubleVerify Holdings, Inc., reported several transactions in the company's common stock.
• On November 30, 2025, 167 shares were acquired through the Employee Stock Purchase Plan (ESPP) at a price of $8.96 per share, reflecting a 15% discount.
• On December 15, 2025, multiple tranches of Restricted Stock Units (RSUs) and Performance Stock Units (PSUs) vested, resulting in the acquisition of 1,991, 3,437, 3,034, 1,072, and 5,073 shares, respectively, at a price of $0.
• Concurrently, shares were disposed of to satisfy tax withholding obligations related to the RSU and PSU vestings: 854 shares, 1,473 shares, 1,301 shares, 460 shares, and 2,174 shares, all at a price of $10.83 per share.
• Following these transactions, beneficial ownership of common stock increased from an initial reported 217,842 shares (after the ESPP purchase) to a final total of 226,187 shares.

Sentiment

Score: 7

Explanation: The sentiment is moderately positive as the officer increased their net beneficial ownership through equity awards and a discounted stock purchase plan, indicating continued alignment with shareholder interests. The dispositions were solely for tax purposes, which is a neutral event.

Positives

• Acquisition of 167 shares through the Employee Stock Purchase Plan (ESPP) at a discounted price of $8.96 per share.
• Vesting of 1,991 Restricted Stock Units (RSUs) on December 15, 2025, converting to common stock at $0 cost.
• Vesting of 3,437 Restricted Stock Units (RSUs) on December 15, 2025, converting to common stock at $0 cost.
• Vesting of 3,034 Restricted Stock Units (RSUs) on December 15, 2025, converting to common stock at $0 cost.
• Vesting of 1,072 Performance Stock Units (PSUs) on December 15, 2025, converting to common stock at $0 cost.
• Vesting of 5,073 Restricted Stock Units (RSUs) on December 15, 2025, converting to common stock at $0 cost.
• Overall net increase in beneficial ownership of 8,345 shares (226,187 final shares 217,842 initial shares after ESPP).

Negatives

• Disposition of 854 shares at $10.83 to cover tax withholding obligations from RSU vesting.
• Disposition of 1,473 shares at $10.83 to cover tax withholding obligations from RSU vesting.
• Disposition of 1,301 shares at $10.83 to cover tax withholding obligations from RSU vesting.
• Disposition of 460 shares at $10.83 to cover tax withholding obligations from PSU vesting.
• Disposition of 2,174 shares at $10.83 to cover tax withholding obligations from RSU vesting.

Future Outlook

The vesting schedules for Restricted Stock Units (RSUs) and Performance Stock Units (PSUs) indicate ongoing equity compensation for the reporting person, with quarterly vesting continuing for various grants beyond the reported transaction dates.

Industry Context

This filing reflects routine insider transactions related to executive compensation, specifically the vesting of equity awards and participation in an employee stock purchase plan. Such transactions are common across publicly traded companies as part of their executive compensation structures and do not inherently indicate broader industry trends.

Related Party Transactions

• Acquisition of 167 shares of common stock through the DoubleVerify Holdings, Inc. 2021 Employee Stock Purchase Plan (ESPP) at a discounted price of $8.96 per share.
• Acquisition of 1,991, 3,437, 3,034, 1,072, and 5,073 shares of common stock at $0 upon the vesting of Restricted Stock Units (RSUs) and Performance Stock Units (PSUs) granted by the issuer.
• Disposition of 854, 1,473, 1,301, 460, and 2,174 shares of common stock at $10.83 to satisfy tax withholding obligations related to the vesting of equity awards.

Stakeholder Impact

• Shareholders: The increase in beneficial ownership by a key executive aligns management interests with shareholder interests, potentially signaling confidence in the company's future.
• Employees: The Employee Stock Purchase Plan (ESPP) and equity award vesting demonstrate the company's compensation structure, which can be a factor in employee retention and motivation.

Next Steps

• Continued quarterly vesting of Restricted Stock Units (RSUs) granted on December 10, 2021, at a rate of 6.25% on each quarterly anniversary of March 15, 2022.
• Continued quarterly vesting of Restricted Stock Units (RSUs) granted on December 12, 2022, at a rate of 6.25% on each quarterly anniversary of March 15, 2023.
• Continued quarterly vesting of Restricted Stock Units (RSUs) granted on December 19, 2023, at a rate of 6.25% on each quarterly anniversary of March 15, 2024.
• Continued quarterly vesting of Performance Stock Units (PSUs) granted on December 19, 2023, at a rate of 8.33% on each quarterly anniversary of March 15, 2025.
• Continued quarterly vesting of Restricted Stock Units (RSUs) granted on March 13, 2025, at a rate of 6.25% on each quarterly anniversary of March 15, 2025.

Key Dates

Recommendation

The filing details routine insider transactions, primarily the vesting of equity awards and an ESPP purchase, alongside corresponding tax-related sales. These actions are expected components of executive compensation and do not signal a material change in the company's fundamental outlook or an executive's conviction beyond what is typical for long-term incentive plans. The net increase in beneficial ownership is positive but not significant enough to warrant a 'buy' recommendation based solely on this Form 4. Investors should 'hold' and consider broader company performance and market conditions.

Keywords

DoubleVerify Holdings, DV, Insider Trading, Form 4, Stock Acquisition, RSU Vesting, PSU Vesting, Employee Stock Purchase Plan, Executive Compensation, Share Ownership