Form 4 for DRCT Direct Digital Holdings, Inc.
Accepted 2022-08-30 00:00:00 ET · period of report 2022-08-26 · accession 0001104659-22-096096 · SEC index · Original document
Summary rows
Aggregated the way they appear in lists: one row per insider, transaction code and security table.
| X | Filed | Traded | Ticker | Insider | Title | Type | Price | Qty | Owned | ΔOwn | Value |
|---|---|---|---|---|---|---|---|---|---|---|---|
| D | 2022-08-30 | 2022-08-26 | DRCT | Direct Digital Management, LLC | 10% | J - Other | $0.00 | -100.0K | 0 | -100% | $0 |
| D | 2022-08-30 | 2022-08-26 | DRCT | Direct Digital Management, LLC | 10% | C - Cnv Deriv | — | +100.0K | 100.0K | New | — |
| D | 2022-08-30 | 2022-08-26 | DRCT | Direct Digital Management, LLC | 10% | C - Cnv Deriv | $0.00 | -100.0K | 11.28M | -0.9% | $0 |
Purchase Sale Sale after option exercise All abbreviations
Every reported transaction
| # | Table | Security | Date | Code | A/D | Shares | Price | Owned after | Own | Exercise / expiry | Underlying | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Common | Class A Common Stock | 2022-08-26 | J | D | 100,000 | $0.00 | 0 | D | — | — | |
| 2 | Common | Class A Common Stock | 2022-08-26 | C | A | 100,000 | — | 100,000 | D | — | — | (F1) Pursuant to the Second Amended and Restated Limited Liability Company Agreement of Direct Digital Holdings, LLC, dated as of February 15, 2022, Class A Common Units (as defined therein) held by the Reporting Person are exchangeable for shares of Class A Common Stock on a one-for-one basis, subject to certain exceptions, conditions and adjustments. The Class A Common Units have no expiration date. At the time of any such exchange, an equal number of shares of Class B Common Stock of the Issuer held by the Reporting Person, which have no economic value and entitle holders thereof to one vote per share on all matters on which stockholders of the Issuer are entitled to vote generally, are cancelled. |
| 3 | Derivative | Class A Common Units of Direct Digital Holdings LLC | 2022-08-26 | C | D | 100,000 | $0.00 | 11,278,000 | D | — · — to — | 100,000 Class A Common Stock | (F3) Due to an administrative error, the number of derivative securities beneficially owned by the Reporting Person was incorrectly reported as 5,689,000 instead of 11,378,000 on a Form 3 filed on February 17, 2022. This column reflects the corrected balance, as effected by the transactions reported on this Form 4. (F1) Pursuant to the Second Amended and Restated Limited Liability Company Agreement of Direct Digital Holdings, LLC, dated as of February 15, 2022, Class A Common Units (as defined therein) held by the Reporting Person are exchangeable for shares of Class A Common Stock on a one-for-one basis, subject to certain exceptions, conditions and adjustments. The Class A Common Units have no expiration date. At the time of any such exchange, an equal number of shares of Class B Common Stock of the Issuer held by the Reporting Person, which have no economic value and entitle holders thereof to one vote per share on all matters on which stockholders of the Issuer are entitled to vote generally, are cancelled. |