Direct Digital (NASDAQ: DRCT) director trades shares tied to RSU vesting
Rhea-AI Filing Summary
Direct Digital Holdings director Richard Cohen reported a combination of RSU vesting, share issuances, and related share sales. On June 9 and June 12, 2026, he sold a total of 101 shares of Class A Common Stock at prices of about $2.96 and $2.91 per share. Footnotes state these shares were sold solely to satisfy tax liabilities from vesting restricted stock units.
Cohen also exercised restricted stock units converting into 286 Class A shares on those dates and on January 24, 2026, at a stated conversion price of $0.00 per unit on a one-for-one basis. After giving effect to completed 55-to-1 and 4-to-1 reverse stock splits and these transactions, he beneficially owns 501 Class A shares directly.
Positive
- None.
Negative
- None.
Insider Trade Summary
Exercise and sale activity reported; no spread calculated
Exercise and Sale
8 txns
Insider
Cohen Richard
Role
Director
Sold
101 shs ($297.71)
Approx. gross sale proceeds
$297.71
Approx. exercise cost
$0.00
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 37 | $0.00 | $0.00 |
| Exercise | Class A Common Stock, par value $0.001 per share | 37 | $0.00 | $0.00 |
| Sale | Class A Common Stock, par value $0.001 per share | 25 | $2.91 | $72.75 |
| Exercise | Restricted Stock Units | 159 | $0.00 | $0.00 |
| Exercise | Class A Common Stock, par value $0.001 per share | 159 | $0.00 | $0.00 |
| Sale | Class A Common Stock, par value $0.001 per share | 76 | $2.96 | $224.96 |
| Exercise | Restricted Stock Units | 90 | $0.00 | $0.00 |
| Exercise | Class A Common Stock, par value $0.001 per share | 90 | $0.00 | $0.00 |
Holdings After Transaction:
Restricted Stock Units — 0 shares (Direct);
Class A Common Stock, par value $0.001 per share — 501 shares (Direct)
Footnotes (8)
- F1. On 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.
- F2. Restricted 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.
- F3. The Amount of Securities Beneficially Owned Following Reported Transactions has been adjusted to reflect the Reverse Stock Splits.
- F4. Represents shares sold solely to satisfy tax liabilities associated with the reported vesting of restricted stock units for 159 shares.
- F5. Represents shares sold solely to satisfy tax liabilities associated with the reported vesting of restricted stock units for 37 shares.
- F6. On January 24, 2025, the reporting person was granted 90 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 20,000 restricted stock units, but was adjusted to reflect the Reverse Stock Splits.
- F7. On June 9, 2025, the reporting person was granted 159 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 June 9, 2026. This grant was previously reported as covering 35,000 restricted stock units, but was adjusted to reflect the Reverse Stock Splits.
- F8. On June 12, 2023, the reporting person was granted 111 restricted stock units, vesting in three annual installments beginning on the first anniversary of the grant date. 33 percent of the restricted stock units vested on June 12, 2024, an additional 33 percent vested on June 12, 2025, and the remaining balance of 34 percent of the restricted stock units vested on June 12, 2026. This grant was previously reported as covering 24,615 restricted stock units, but was adjusted to reflect the Reverse Stock Splits.
Key Figures
Shares sold June 9, 2026: 76 shares at $2.96
Shares sold June 12, 2026: 25 shares at $2.91
Total shares sold: 101 shares
+4 more
7 metrics
Shares sold June 9, 2026
76 shares at $2.96
Class A Common Stock open-market sale to satisfy tax liabilities
Shares sold June 12, 2026
25 shares at $2.91
Class A Common Stock sale to satisfy tax liabilities
Total shares sold
101 shares
Net sell shares across June 9 and June 12, 2026
RSUs converted
286 units at $0.00
Restricted stock units converting one-for-one into Class A shares
Holdings after transactions
501 shares
Class A Common Stock beneficially owned directly after adjustments
January reverse split ratio
55-to-1
Reverse stock split effected January 12, 2026
April reverse split ratio
4-to-1
Reverse stock split effected April 27, 2026
Key Terms
reverse stock split, restricted stock units, beneficially owned, Class A Common Stock
4 terms
reverse stock split financial
"effected a 55-to-1 reverse stock split and subsequently a 4-to-1 reverse stock split"
A reverse stock split reduces a company's number of outstanding shares while raising the price per share proportionally, so the total value of each investor's holding is unchanged; a 1-for-10 split turns 100 shares worth $1 each into 10 shares worth $10 each. Companies often do this to regain compliance with an exchange's minimum price rule or to attract investors who avoid very low-priced stocks.
restricted stock units financial
"Restricted stock units convert into shares of the Company's Class A Common Stock"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
beneficially owned financial
"The Amount of Securities Beneficially Owned Following Reported Transactions has been adjusted"
Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.
Class A Common Stock financial
"Class A Common Stock, par value $0.001 per share"
Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.
FAQ
What insider transactions did DRCT director Richard Cohen report?
Richard Cohen reported RSU vesting, related share issuances, and sales totaling 101 DRCT Class A shares. The transactions occurred on January 24, June 9, and June 12, 2026, and involved both exercising restricted stock units and selling shares linked to resulting tax liabilities.
What restricted stock unit activity did Richard Cohen report for DRCT?
Cohen reported exercising restricted stock units that convert one-for-one into Class A shares at a stated price of $0.00. He converted 90 units on January 24, 2026, 159 units on June 9, 2026, and 37 units on June 12, 2026, reflecting previously granted and now-vested awards.
How did Direct Digital’s reverse stock splits affect Richard Cohen’s DRCT holdings?
The company completed 55-to-1 and 4-to-1 reverse stock splits in January and April 2026. The filing explains that securities acquired and amounts beneficially owned after the reported transactions were adjusted to reflect these reverse stock splits when presenting Cohen’s share and award figures.
AI-generated analysis. How Rhea-AI works. Not financial advice.
