Direct Digital (DRCT) files Form 144 for $110k secondary share sale

Rhea-AI Filing Summary

Direct Digital Holdings, Inc. (DRCT) filed a Form 144 indicating a proposed secondary sale of 185,000 common shares through broker Apex Clearing. The filer plans to execute the trade on or about 14 July 2025. Based on the stated aggregate market value of $110,445, the implied share price is roughly $0.60. The shares represent approximately 2.3 % of the 8.11 million shares outstanding, suggesting the transaction is modest in scale relative to the company’s float.

The shares were acquired on 13 June 2025 via “restricted unit vesting and unit conversion,” implying the seller is likely an affiliate or insider whose units have recently vested. No prior sales were reported in the past three months, and no 10b5-1 trading plan adoption date was disclosed. Because Form 144 filers must certify they possess no non-public material adverse information, the filing itself does not necessarily signal operational weakness, but it does alert investors to a potential uptick in market supply around the stated sale date.

Insights

Securities Analyst

TL;DR: Insider plans to sell 185k DRCT shares (~2.3% float) worth $110k; limited dollar value, mildly negative supply signal.

The Form 144 shows a prospective insider transaction rather than a primary issuance, so it is non-dilutive. At roughly $110k, the sale is small in absolute terms and unlikely to move the market on liquidity grounds alone. Still, insider disposition—especially soon after restricted units vest—can be viewed as a soft bearish indicator, suggesting the holder prefers liquidity at current prices. Absence of a 10b5-1 plan means sales could be discretionary. Overall impact: modest and mostly sentiment-driven.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	APEX CLEARING 350 N ST. PAUL ST SUITE 300 DALLAS TX 75201	185000	110445.00	8110000	07/14/2025	Nasdaq

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	06/13/2025	Restricted Unit Vesting and Unit Conversion	Direct Digital Holdings, Inc.			185000	06/13/2025	N/A

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Nothing to Report

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

How many Direct Digital Holdings (DRCT) shares are being sold under this Form 144?

The notice covers 185,000 common shares.

What is the aggregate market value of the proposed DRCT share sale?

The filing lists an aggregate value of $110,445.

What percentage of DRCT’s outstanding shares does the sale represent?

Approximately 2.3 % of the 8.11 million shares outstanding.

When is the approximate sale date for the DRCT shares?

The seller intends to trade on or about July 14 2025.

How were the DRCT shares acquired by the seller?

They were obtained through restricted unit vesting and unit conversion on June 13 2025.

Will this Form 144 sale dilute existing shareholders?

No. The shares are already issued; this is a secondary sale by an existing holder.