[Form 4] DoubleVerify Holdings, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Nicola T. Allais, CFO of DoubleVerify Holdings, Inc. (DV), reported multiple equity transactions on 09/15/2025. The filing shows vesting and settlement of restricted stock units (RSUs) and performance stock units (PSUs) granted between 2021 and 2025, with portions withheld to satisfy tax obligations. Net results across the reported transactions increased beneficial ownership in some lines and reduced shares via tax withholding in others, leaving the reporting person with between 2,488 and 116,907 shares across different lines shown; total directly beneficial shares following the transactions include 87,932 RSU-derived shares and 5,361 PSU-derived shares among other balances. The form is signed by an attorney-in-fact on behalf of Ms. Allais.

Positive

• Timely disclosure of insider vesting and tax-withholding transactions in compliance with Section 16
• Transparent breakdown of awards by grant date and vesting schedule (2021–2025), aiding investor visibility

Negative

• No indication of open-market purchases to increase stake beyond vested awards
• Tax-withholding disposals reduced net shares in multiple lines, lowering immediate beneficial ownership

Insights

Securities Compliance Analyst

TL;DR: Routine insider vesting/settlement activity reflecting scheduled RSU/PSU vesting and tax withholding, reported in compliance with Section 16.

The Form 4 documents standard settlements of restricted stock units and performance stock units on 09/15/2025 with shares withheld to satisfy tax obligations. Grants dated 2021–2025 are being vest-settled per their schedules, producing a mix of acquisitions (code M) and disposals (tax-withholdings, code F). No exercised options, open market purchases, or sales beyond withholding are shown. The filing appears procedural and consistent with executive compensation vesting schedules; it does not disclose cash proceeds beyond withholding or any unusual trading patterns.

Corporate Governance Expert

TL;DR: Indicative of planned compensation realization, not a signal of material insider-driven change.

The transactions reflect scheduled vesting and settlement of equity awards granted over multiple years, including RSUs and PSUs that convert one-for-one to common stock. Withholdings to meet tax obligations reduced net shares in several lines at $13.01 per share. The report was executed by an attorney-in-fact and properly discloses the nature and timing of vested awards. From a governance perspective, this is routine disclosure of executive compensation realization rather than a discretionary sale or purchase activity.

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

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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^*

Allais Nicola T

(Last) (First) (Middle)

C/O DOUBLEVERIFY HOLDINGS, INC.

462 BROADWAY

(Street)

NEW YORK NY 10013

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
DoubleVerify Holdings, Inc. [ DV ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Financial Officer

3. Date of Earliest Transaction (Month/Day/Year)
09/15/2025

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	09/15/2025		M		6,764	A	$0(1)	114,511	D
Common Stock	09/15/2025		F(2)		3,741	D	$13.01	110,770	D
Common Stock	09/15/2025		M		1,071	A	$0(3)	111,841	D
Common Stock	09/15/2025		F(4)		593	D	$13.01	111,248	D
Common Stock	09/15/2025		M		3,034	A	$0(5)	114,282	D
Common Stock	09/15/2025		F(2)		1,678	D	$13.01	112,604	D
Common Stock	09/15/2025		M		4,062	A	$0(6)	116,666	D
Common Stock	09/15/2025		F(2)		2,247	D	$13.01	114,419	D
Common Stock	09/15/2025		M		2,488	A	$0(7)	116,907	D
Common Stock	09/15/2025		F(2)		1,376	D	$13.01	115,531	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
Restricted Stock Units	(8)	09/15/2025		M			6,764	(1)	(1)	Common Stock	6,764	$0	87,932	D
Performance Stock Units	(9)	09/15/2025		M			1,071	(3)	(3)	Common Stock	1,071	$0	5,361	D
Restricted Stock Units	(8)	09/15/2025		M			3,034	(5)	(5)	Common Stock	3,034	$0	27,306	D
Restricted Stock Units	(8)	09/15/2025		M			4,062	(6)	(6)	Common Stock	4,062	$0	20,310	D
Restricted Stock Units	(8)	09/15/2025		M			2,488	(7)	(7)	Common Stock	2,488	$0	2,488	D

Explanation of Responses:

1. Each restricted stock unit was granted on March 13, 2025. 6.25% of the restricted stock units vested and were settled on March 15, 2025 (the "2025 Vesting Date"), and the remainder of the restricted stock units vest at a rate of 6.25% on each quarterly anniversary of the 2025 Vesting Date.

2. Represents shares withheld to satisfy tax withholding obligations in connection with the vesting of restricted stock units.

3. Each performance stock unit was granted on December 19, 2023. 41.67% of the earned shares vested and were settled on the 2025 Vesting Date, and the remainder of the earned shares vest at a rate of 8.33% on each quarterly anniversary of the 2025 Vesting Date.

4. Represents shares withheld to satisfy tax withholding obligations in connection with the vesting of performance stock units.

5. Each restricted stock unit was granted on December 19, 2023. 6.25% of the restricted stock units vested and were settled on March 15, 2024 (the "2024 Vesting Date"), and the remainder of the restricted stock units vest at a rate of 6.25% on each quarterly anniversary of the 2024 Vesting Date.

6. Each restricted stock unit was granted on December 12, 2022. 6.25% of the restricted stock units vested and were settled on March 15, 2023 (the "2023 Vesting Date"), and the remainder of the restricted stock units vest at a rate of 6.25% on each quarterly anniversary of the 2023 Vesting Date.

7. Each restricted stock unit was granted on December 10, 2021. 6.25% of the restricted stock units vested and were settled on March 15, 2022 (the "2022 Vesting Date"), and the remainder of the restricted stock units vest at a rate of 6.25% on each quarterly anniversary of the 2022 Vesting Date.

8. Restricted stock units convert into common stock on a one-for-one basis.

9. Performance stock units convert into common stock on a one-for-one basis.

	/s/ Andrew E. Grimmig, as Attorney-in-Fact for Nicola T. Allais	09/17/2025
	** 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 transactions did Nicola T. Allais report for DV on 09/15/2025?

The Form 4 reports settlements of restricted stock units and performance stock units on 09/15/2025, including acquired shares (code M) and shares withheld for taxes (code F).

How many RSU-derived shares were beneficially owned after the reported transactions?

The filing shows 87,932 shares from one RSU line and other RSU balances such as 27,306, 20,310, and 2,488 in separate lines following settlement.

Were any shares sold in open market transactions according to the Form 4?

No open-market sales are reported; disposals shown are tax-withholding to satisfy obligations at a price of $13.01 per withheld share.

Do the reported transactions include option exercises or cash proceeds?

No option exercises or cash-proceeds transactions are disclosed; the report details vesting/settlement of RSUs and PSUs and withholding.

Who signed the Form 4 for Nicola T. Allais?

The Form 4 was signed by Andrew E. Grimmig as attorney-in-fact for Nicola T. Allais on 09/17/2025.