Direct Digital Management, LLC 3
3 · Direct Digital Holdings, Inc. · Filed Feb 17, 2022
Insider Transaction Report
Form 3
Direct Digital Management, LLC
10% Owner
Holdings
Class A Common Units of Direct Digital Holdings LLC
→ Class A common stock (5,689,000 underlying)
Footnotes (1)
- [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.