# EDGAR Filing Document

**Accession Number:** 0001896664
**File Stem:** 0001896664-26-000002
**Filing Date:** 2026-6
**Character Count:** 10845
**Document Hash:** fdecad68781bf7ffb7e0edb035a4fdfd
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001896664-26-000002.hdr.sgml**: 20260629

**ACCESSION NUMBER**: 0001896664-26-000002

**CONFORMED SUBMISSION TYPE**: 4

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20260124

**FILED AS OF DATE**: 20260629

**DATE AS OF CHANGE**: 20260629

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Walker Mark D
- **CENTRAL INDEX KEY:** 0001896664

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-41261
- **FILM NUMBER:** 261136849

**MAIL ADDRESS:**
- **STREET 1:** C/O DIRECT DIGITAL HOLDINGS, INC.
- **STREET 2:** 1233 WEST LOOP SUITE 1170
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77027
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Direct Digital Holdings, Inc.
- **CENTRAL INDEX KEY:** 0001880613
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-ADVERTISING [7310]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 872306185
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**BUSINESS ADDRESS:**
- **STREET 1:** 1177 WEST LOOP SOUTH
- **STREET 2:** SUITE 1310
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77027
- **BUSINESS PHONE:** 832-402-1051

**MAIL ADDRESS:**
- **STREET 1:** 1177 WEST LOOP SOUTH
- **STREET 2:** SUITE 1310
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77027

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

## FORM 4

### STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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

[x] 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**<sup>*</sup><br>Walker Mark D<br><sub>(Last) (First) (Middle)</sub><br>C/O DIRECT DIGITAL HOLDINGS, INC.<br>1177 WEST LOOP SOUT, SUITE 1300<br><sub>(Street)</sub><br>HOUSTON, TX 77027<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2026-01-24 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[X] Director [ ] 10% Owner<br>[X] Officer (give title below) [ ] Other (specify below)<br>_Chairman and CEO_ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Direct Digital Holdings, Inc. [ DRCT ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[X] Form filed by One Reporting Person<br>[ ] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | 3. Transaction Code (V) | 3. Transaction Code (V) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | Code | V | Amount | (A) or (D) | Price | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| Class A Common Stock, par value $0.001 per share | 2026-01-24 |  | M |  | 204<sup>(1)</sup> | A | <sup>(2)</sup> | 204<sup>(1)</sup> | D |  |
| Class A Common Stock, par value $0.001 per share | 2026-01-24 |  | F |  | 61<sup>(3)(4)</sup> | D | 16.48<sup>(3)</sup> | 143 | D |  |
| Class A Common Stock, par value $0.001 per share | 2026-03-20 |  | M |  | 45<sup>(3)</sup> | A | <sup>(2)</sup> | 188 | D |  |
| Class A Common Stock, par value $0.001 per share | 2026-03-20 |  | F |  | 14<sup>(3)(4)</sup> | D | 3.52<sup>(3)</sup> | 174 | D |  |
| Class A Common Stock, par value $0.001 per share | 2026-04-01 |  | M |  | 67<sup>(3)</sup> | A | <sup>(2)</sup> | 241 | D |  |
| Class A Common Stock, par value $0.001 per share | 2026-04-01 |  | F |  | 20<sup>(3)(4)</sup> | D | 3.29<sup>(3)</sup> | 221 | D |  |
| Class A Common Stock, par value $0.001 per share | 2026-06-12 |  | S |  | 1363<sup>(1)</sup> | D | 2.80<sup>(5)</sup> | 0 | I | By AJN Energy & Transport Ventures, LLC |

---

## Table II - Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | 4. Transaction Code (V) | 4. Transaction Code (V) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 6. Date Exercisable and Expiration Date | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Underlying Securities | 7. Title and Amount of Underlying Securities | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| Restricted Stock Units | <sup>(2)</sup> | 2026-01-24 |  | M |  |  | 204<sup>(6)</sup> | <sup>(6)</sup> | <sup>(6)</sup> | Class A Common Stock, par value $0.001 per share | 204<sup>(6)</sup> | $0 | 0 | D |  |
| Restricted Stock Units | <sup>(2)</sup> | 2026-03-20 |  | M |  |  | 45<sup>(7)</sup> | <sup>(7)</sup> | <sup>(7)</sup> | Class A Common Stock, par value $0.001 per share | 45<sup>(7)</sup> | $0 | 0 | D |  |
| Employee Stock Options (right to buy) | 3.32<sup>(3)</sup> | 2026-03-24 |  | A |  | 8750<sup>(3)</sup> |  | <sup>(8)</sup> | 2036-03-24 | Class A Common Stock, par value $0.001 per share | 8750<sup>(3)</sup> | $0 | 8750<sup>(3)</sup> | D |  |
| Restricted Stock Units | <sup>(2)</sup> | 2026-04-01 |  | M |  |  | 67<sup>(9)</sup> | <sup>(9)</sup> | <sup>(9)</sup> | Class A Common Stock, par value $0.001 per share | 67<sup>(9)</sup> | $0 | 136<sup>(9)</sup> | D |  |

---

### Footnotes:

(1) 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 and the Amount of Securities Beneficially Owned Following Reported Transaction in connection with this transaction have been adjusted to reflect the Reverse Stock Splits.

(2) 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.

(3) The shares and price reported for the applicable transaction have been adjusted to reflect the April Reverse Stock Split.

(4) Represents shares withheld to satisfy tax liabilities associated with the reported vesting of restricted stock units on the applicable transaction date.

(5) This sale was made pursuant to a 10b5-1 plan previously entered into by the reporting person on December 11, 2024. This transaction was executed in multiple trades at prices ranging from $2.76 to $2.84 per share. The price reported above reflects the weighted average purchase price on the date indicated rounded to the nearest penny. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares.

(6) On 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.

(7) On 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.

(8) This option is scheduled to vest in three equal annual installments beginning on March 24, 2027.

(9) On 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.

**Signature:** /s/ Mark Walker  
**Date:** 2026-06-29

### Remarks:

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.**