Form 4: Providence Equity Affiliates Report Minor Share Acquisition in DoubleVerify Holdings, Maintain Significant Ownership

Affiliates of Providence Equity Partners, including a 10% owner and directors, reported the acquisition of 21,448 shares of DoubleVerify Holdings, Inc. common stock at no cost, stemming from board compensation, while maintaining substantial existing beneficial ownership.

Summary

• Providence Equity Partners L.L.C. acquired 21,448 shares of DoubleVerify Holdings, Inc. common stock on May 21, 2025, at a price of $0 per share.
• These shares were transferred from former board members Lucy Dobrin and R. Davis Noell, representing board compensation, in accordance with Providence Equity Partners L.L.C.'s internal policy.
• Following this transaction, Providence Equity Partners L.L.C. beneficially owns 21,448 shares.
• Providence VII U.S. Holdings L.P. continues to beneficially own 26,122,547 shares of DoubleVerify common stock.
• Providence Butternut Co-Investment L.P. continues to beneficially own 168,361 shares of DoubleVerify common stock.
• Several individuals, including J. David Phillips, Karim A. Tabet, Andrew A. Tisdale, and Michael J. Dominguez, are deemed to exercise voting and investment power over these holdings due to their control relationships with Providence Equity Partners L.L.C., Providence VII U.S. Holdings L.P., and Providence Butternut Co-Investment L.P., though they disclaim beneficial ownership except for their pecuniary interest.

Sentiment

Score: 6

Explanation: The sentiment is neutral to slightly positive as it reports a minor acquisition of shares by an affiliated entity from board compensation, with no significant dispositions by the reporting group. It primarily updates beneficial ownership.

Positives

• Providence Equity Partners L.L.C. acquired 21,448 shares of DoubleVerify Holdings, Inc. common stock, consolidating shares from board compensation within the group.

Negatives

• No significant negative transactions (e.g., large dispositions) were reported in this specific filing by the primary reporting entities.

Risks

• The document itself does not introduce new risks, but rather reports changes in beneficial ownership.

Future Outlook

NA

Management Comments

• R. Davis Noell, J. David Phillips, Karim A. Tabet, Andrew A. Tisdale and Michael J. Dominguez may be deemed to exercise voting and investment power over, and thus may be deemed to beneficially own, the securities held by PEP LLC. Each of R. Davis Noell, J. David Phillips, Karim A. Tabet, Andrew A. Tisdale and Michael J. Dominguez hereby disclaims beneficial ownership of the shares held by PEP LLC, except to the extent of its or his pecuniary interest therein, and this form shall not be construed as an admission that any such reporting person is the beneficial owner of any of the securities reported on this form.

Industry Context

This Form 4 filing is a routine disclosure of insider ownership changes and does not provide broader industry context or trends.

Management Changes

Corporate Governance

Related Party Transactions

• The acquisition of 21,448 shares by Providence Equity Partners L.L.C. from Lucy Dobrin and R. Davis Noell, who received the shares as board compensation for their service on the Issuer's board of directors, constitutes a related party transaction given their affiliation with the reporting entities.

Stakeholder Impact

• The filing primarily updates beneficial ownership information for a significant shareholder group. It is unlikely to have a substantial direct impact on shareholders, employees, customers, suppliers, or creditors, as no major strategic shifts or financial events are disclosed.

Key Dates

Recommendation

Keywords

DoubleVerify, DV, SEC Form 4, beneficial ownership, insider ownership, Providence Equity Partners, share acquisition, board compensation