[Form 4] Digimarc Corporation Insider Trading Activity

Rhea-AI Filing Summary

Quinn Carle Ann, EVP and Chief Operating Officer of Digimarc Corporation (DMRC), reported a non-derivative transaction on 08/15/2025. She disposed of 4,282 shares of Digimarc common stock at $8.81 per share; the filing states the shares were traded back to the company to cover tax liability for vested awards. After the transaction she beneficially owns 135,623 shares (direct). The Form 4 is signed and dated 08/18/2025. The filing indicates this was a routine tax-related sale rather than an open-market sale.

Positive

• Transparent disclosure of transaction date, price, amount, and purpose (tax liability for vested awards)
• Timely filing and signature (Form 4 signed 08/18/2025) meeting Section 16 reporting requirements
• Continued meaningful ownership with 135,623 shares held directly after the transaction

Negative

• Insider disposition of 4,282 shares reduces executives position, though described as tax-related

Insights

Financial Analyst

TL;DR: Insider sold a small block of shares to cover taxes; ownership remains substantial and no new derivative activity was reported.

The reported disposal of 4,282 shares at $8.81 appears to be a tax-coverage transaction tied to vested awards, which typically indicates routine liquidity rather than a strategic change in conviction. The remaining direct beneficial ownership of 135,623 shares preserves the executives exposure to company equity. No options, conversions, or new grants are listed in this Form 4, limiting the filings broader capital structure implications.

Corporate Governance Expert

TL;DR: Filing shows transparent reporting of an executives tax-related sale; disclosure aligns with Section 16 requirements.

The Form 4 discloses the necessary details: transaction date, amount, price, and an explicit explanation that shares were surrendered to cover taxes on vested awards. The timely filing and explicit explanation reduce governance concerns about undisclosed motivations. There is no indication of atypical trading patterns or related-party transactions in this filing.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Quinn Carle Ann

(Last) (First) (Middle)

8500 SW CREEKSIDE PLACE

(Street)

BEAVERTON OR 97008

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Digimarc CORP [ DMRC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP, Chief Operating Officer

3. Date of Earliest Transaction (Month/Day/Year)
08/15/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	08/15/2025	08/15/2025	F		4,282(1)	D	$8.81	135,623	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Shares traded back to the Company to cover tax liability for vested stock awards.

	/s/ Carle Quinn	08/18/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Digimarc (DMRC) executive Quinn Carle Ann report on Form 4?

The filing reports a disposal of 4,282 common shares on 08/15/2025 at $8.81 per share to cover tax liability from vested awards.

How many Digimarc shares does Quinn Carle Ann own after the transaction?

She beneficially owns 135,623 shares directly following the reported transaction.

Was the Form 4 transaction a sale or a tax-related surrender?

The Form 4 explanation states the shares were traded back to the company to cover tax liability for vested stock awards.

When was the Form 4 signed for the Quinn Carle Ann transaction?

The Form 4 is signed by Quinn Carle Ann and dated 08/18/2025.

Did the filing report any derivative transactions or option exercises for this executive?

No derivative securities, option exercises, or new grants are reported in Table II of this Form 4.