SEC Form 4 · accession 0001203452-26-000002
Direct Digital Holdings, Inc. · DRCT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
W Keith Smith
Officer — President · Director
Period of report
Jan 24, 2026
Accepted (ET)
Jun 29, 2026 · 5:09 pm EDT
Rule 10b5-1 plan
box not checked
Issuer CIK
0001880613
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Class A Common Stock, par value $0.001 per shareF1,F2 | Jan 24, 2026 | M | 204 | — | A | 505 | D | |
| Class A Common Stock, par value $0.001 per shareF3,F4 | Jan 24, 2026 | F | 61 | $16.48 | D | 444 | D | |
| Class A Common Stock, par value $0.001 per shareF3,F2 | Mar 20, 2026 | M | 45 | — | A | 489 | D | |
| Class A Common Stock, par value $0.001 per shareF3,F4 | Mar 20, 2026 | F | 14 | $3.52 | D | 475 | D | |
| Class A Common Stock, par value $0.001 per shareF3,F2 | Apr 1, 2026 | M | 67 | — | A | 542 | D | |
| Class A Common Stock, par value $0.001 per shareF3,F4 | Apr 1, 2026 | M | 20 | $3.29 | D | 522 | D | |
| Class A Common Stock, par value $0.001 per shareF1 | holding | — | — | — | 2,114 | I | By SKW Financial LLC |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF5,F2 | — | Jan 24, 2026 | M | 204 | D | — | — | Class A Common Stock, par value $0.001 per share | 204 | 0 | D |
| Restricted Stock UnitsF6,F2 | — | Mar 20, 2026 | M | 45 | D | — | — | Class A Common Stock, par value $0.001 per share | 45 | 0 | D |
| Employee Stock Options (right to buy)F3,F7 | $3.32 | Mar 24, 2026 | A | 8,750 | A | — | Mar 24, 2036 | Class A Common Stock, par value $0.001 per share | 8,750 | 8,750 | D |
| Restricted Stock UnitsF8,F2 | — | Apr 1, 2026 | M | 67 | D | — | — | Class A Common Stock, par value $0.001 per share | 67 | 136 | D |
Explanation of responses
- F1On January 12, 2026, Direct Digital Holdings, Inc. (the "Company") effected a 55-to-1 reverse stock split (the "January Reverse Stock Split") and subsequently on April 27, 2026, the Company effected a 4-to-1 reverse stock split (the "April Reverse Stock Split," and together with the January Reverse Stock Split, the "Reverse Stock Splits"). The Securities Acquired reported in connection with this transaction have been adjusted to reflect the April Reverse Stock Split and the Amount of Securities Beneficially Owned Following Reported Transaction in connection with this transaction have been adjusted to reflect the Reverse Stock Splits.
- F2Restricted stock units convert into shares of the Company's Class A Common Stock, par value $0.001 per share, on a one-for-one basis.
- F3The shares and price reported for the applicable transaction have been adjusted to reflect the April Reverse Stock Split.
- F4Represents shares withheld to satisfy tax liabilities associated with the reported vesting of restricted stock units on the applicable transaction date.
- F5On January 24, 2025, the reporting person was granted 204 restricted stock units, vesting on the first anniversary of the grant date conditioned on continued employment as of the vesting date. All of the restricted stock units vested on January 24, 2026. This grant was previously reported as covering 45,000 restricted stock units, but was adjusted to reflect the Reverse Stock Splits.
- F6On March 20, 2023, the reporting person was granted 135 restricted stock units, vesting in three annual installments beginning on the first anniversary of the grant date. 33% of the restricted stock units vested on March 20, 2024, an additional 33% of the restricted stock units vested on March 20, 2025, and the remaining balance of 34% of the restricted stock units vested on March 20, 2026. This grant was previously reported as covering 29,910 restricted stock units, but was adjusted to reflect the Reverse Stock Splits.
- F7This option is scheduled to vest in three equal annual installments beginning on March 24, 2027.
- F8On April 1, 2025, the reporting person was granted 203 restricted stock units, vesting in three annual installments beginning on the first anniversary of the grant date. 33% of the restricted stock units vested on April 1, 2026, an additional 33% of the restricted stock units will vest on April 1, 2027, and the remaining balance of 34% of the restricted stock units will vest on April 1, 2028. Vesting will be accelerated upon certain termination of employment events and upon a "Change in Control" (as defined in the Direct Digital Holdings, Inc. 2022 Omnibus Incentive Plan). This grant was previously reported as covering 45,000 restricted stock units, but was adjusted to reflect the Reverse Stock Splits.
Remarks
The Reporting Person is hereby disclosing delinquent transactions reportable on Form 4 that were not reported due to an administrative oversight.