DoubleVerify (DV) CLO Andrew Grimmig Exercises Awards; Shares Withheld

What Happened

• Andrew E. Grimmig, Chief Legal Officer of DoubleVerify (DV), converted/settled company awards into 27,029 shares of common stock on September 15, 2026 (derivative conversions, code M). No cash purchase price was paid on the conversions (reported price $0.00).
• To satisfy tax withholding obligations, 12,193 of those shares were withheld (code F) at $13.50 per share, representing ~$164,607 in value. After withholding, Grimmig retained a net ~14,836 shares from this settlement.
• These actions are routine settlements of vested restricted stock units (RSUs) and performance stock units (PSUs), not open-market purchases or sales.

Key Details

• Transaction date: September 15, 2026. Report filed Sept 17, 2026 (timely within Form 4 rules).
• Conversions (M): 27,029 shares acquired via award settlement (no cash exercise price).
• Tax withholding (F): 12,193 shares disposed/withheld at $13.50/share = ~$164,607.
• Net shares retained from this event: ~14,836 shares (27,029 acquired − 12,193 withheld).
• Footnotes indicate these shares arose from a mix of RSUs and PSUs granted 2022–2026 (PSUs and RSUs convert one-for-one into common stock); withheld shares were used to satisfy tax obligations related to vesting.
• Filing does not show full post-transaction beneficial ownership total in the provided summary.

Context

• This is a settlement of vested awards (derivative conversions) with shares withheld to cover taxes — effectively a cashless settlement rather than a market sale. Tax-withholding disposals are common and do not by themselves indicate a decision to sell shares for investment reasons.
• Transaction codes: M = exercise/conversion of derivative awards (RSUs/PSUs); F = shares withheld/used to pay taxes.