DRCT

SEC source: 0001896664-25-000006 · wk-form4_1755639730.xml · nonDerivative · entry 3

Walker Mark D · CIK 0001896664 · Director · Chairman and CEO · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · By AJN Energy & Transport Ventures, LLC

Disclosed balance after: 0

F3 · price: This transaction was executed in multiple trades at prices ranging from $0.39 to $0.41 per share. The price reported above reflects the weighted average purchase price on the date indicated. 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.

SEC source: 0001896664-25-000006 · wk-form4_1755639730.xml · nonDerivative · entry 2

Walker Mark D · CIK 0001896664 · Director · Chairman and CEO · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · By AJN Energy & Transport Ventures, LLC

Disclosed balance after: 23,000

F2 · price: This transaction was executed in multiple trades at prices ranging from $0.39 to $0.40 per share. The price reported above reflects the weighted average purchase price on the date indicated. 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.

SEC source: 0001896664-25-000006 · wk-form4_1755639730.xml · nonDerivative · entry 1

Walker Mark D · CIK 0001896664 · Director · Chairman and CEO · 10% owner

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

F1 · price: This transaction was executed in multiple trades at prices ranging from $0.39 to $0.43 per share. The price reported above reflects the weighted average purchase price on the date indicated. 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.

SEC source: 0001628280-25-036228 · wk-form4_1753736690.xml · nonDerivative · entry 3

SMITH W KEITH · CIK 0001203452 · Director · President · 10% owner

10b5-1 filing: Plan reported

Ownership: Indirect · By SKW Financial LLC

Disclosed balance after: 28,300

F3 · price: This sale was made pursuant to a 10b5-1 plan previously entered into by the reporting person on December 12, 2024. This transaction was executed in multiple trades at prices ranging from $0.53 to $0.56 per share. The price reported above reflects the weighted average purchase price on the date indicated. 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.

SEC source: 0001628280-25-036228 · wk-form4_1753736690.xml · nonDerivative · entry 2

SMITH W KEITH · CIK 0001203452 · Director · President · 10% owner

10b5-1 filing: Plan reported

Ownership: Indirect · By SKW Financial LLC

Disclosed balance after: 36,350

F2 · price: This sale was made pursuant to a 10b5-1 plan previously entered into by the reporting person on December 12, 2024. This transaction was executed in multiple trades at prices ranging from $0.52 to $0.56 per share. The price reported above reflects the weighted average purchase price on the date indicated. 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.

SEC source: 0001628280-25-036228 · wk-form4_1753736690.xml · nonDerivative · entry 1

SMITH W KEITH · CIK 0001203452 · Director · President · 10% owner

10b5-1 filing: Plan reported

Ownership: Indirect · By SKW Financial LLC

Disclosed balance after: 45,250

F1 · price: This sale was made pursuant to a 10b5-1 plan previously entered into by the reporting person on December 12, 2024. This transaction was executed in multiple trades at prices ranging from $0.52 to $0.55 per share. The price reported above reflects the weighted average purchase price on the date indicated. 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.

SEC source: 0001880613-25-000072 · wk-form4_1753307042.xml · nonDerivative · entry 3

Walker Mark D · CIK 0001896664 · Director · Chairman and CEO · 10% owner

10b5-1 filing: Plan reported

Ownership: Indirect · By AJN Energy & Transport Ventures, LLC

Disclosed balance after: 47,313

F3 · price: 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 $0.50 to $0.52 per share. The price reported above reflects the weighted average purchase price on the date indicated. 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.

SEC source: 0001880613-25-000073 · wk-form4_1753307245.xml · nonDerivative · entry 3

SMITH W KEITH · CIK 0001203452 · Director · President · 10% owner

10b5-1 filing: Plan reported

Ownership: Indirect · By SKW Financial LLC

Disclosed balance after: 61,050

F3 · price: This sale was made pursuant to a 10b5-1 plan previously entered into by the reporting person on December 12, 2024. This transaction was executed in multiple trades at prices ranging from $0.50 to $0.54 per share. The price reported above reflects the weighted average purchase price on the date indicated. 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.

SEC source: 0001880613-25-000072 · wk-form4_1753307042.xml · nonDerivative · entry 2

Walker Mark D · CIK 0001896664 · Director · Chairman and CEO · 10% owner

10b5-1 filing: Plan reported

Ownership: Indirect · By AJN Energy & Transport Ventures, LLC

Disclosed balance after: 52,880

F2 · price: 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 $0.50 to $0.54 per share. The price reported above reflects the weighted average purchase price on the date indicated. 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.

SEC source: 0001880613-25-000073 · wk-form4_1753307245.xml · nonDerivative · entry 2

SMITH W KEITH · CIK 0001203452 · Director · President · 10% owner

10b5-1 filing: Plan reported

Ownership: Indirect · By SKW Financial LLC

Disclosed balance after: 72,984

F2 · price: This sale was made pursuant to a 10b5-1 plan previously entered into by the reporting person on December 12, 2024. This transaction was executed in multiple trades at prices ranging from $0.50 to $0.54 per share. The price reported above reflects the weighted average purchase price on the date indicated. 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.

SEC source: 0001880613-25-000072 · wk-form4_1753307042.xml · nonDerivative · entry 1

Walker Mark D · CIK 0001896664 · Director · Chairman and CEO · 10% owner

10b5-1 filing: Plan reported

Ownership: Indirect · By AJN Energy & Transport Ventures, LLC

Disclosed balance after: 68,350

F1 · price: 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 $0.51 to $0.55 per share. The price reported above reflects the weighted average purchase price on the date indicated. 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.

SEC source: 0001880613-25-000073 · wk-form4_1753307245.xml · nonDerivative · entry 1

SMITH W KEITH · CIK 0001203452 · Director · President · 10% owner

10b5-1 filing: Plan reported

Ownership: Indirect · By SKW Financial LLC

Disclosed balance after: 88,305

F1 · price: This sale was made pursuant to a 10b5-1 plan previously entered into by the reporting person on December 12, 2024. This transaction was executed in multiple trades at prices ranging from $0.51 to $0.55 per share. The price reported above reflects the weighted average purchase price on the date indicated. 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.

SEC source: 0001880613-25-000069 · wk-form4_1752872749.xml · nonDerivative · entry 3

Walker Mark D · CIK 0001896664 · Director · Chairman and CEO · 10% owner

10b5-1 filing: Plan reported

Ownership: Indirect · By AJN Energy & Transport Ventures, LLC

Disclosed balance after: 85,085

F3 · price: 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 $0.50 to $0.54 per share. The price reported above reflects the weighted average purchase price on the date indicated. 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.

SEC source: 0001880613-25-000068 · wk-form4_1752872739.xml · nonDerivative · entry 3

SMITH W KEITH · CIK 0001203452 · Director · President · 10% owner

10b5-1 filing: Plan reported

Ownership: Indirect · By SKW Financial LLC

Disclosed balance after: 105,292

F3 · price: This sale was made pursuant to a 10b5-1 plan previously entered into by the reporting person on December 12, 2024. This transaction was executed in multiple trades at prices ranging from $0.50 to $0.54 per share. The price reported above reflects the weighted average purchase price on the date indicated. 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.

SEC source: 0001880613-25-000069 · wk-form4_1752872749.xml · nonDerivative · entry 2

Walker Mark D · CIK 0001896664 · Director · Chairman and CEO · 10% owner

10b5-1 filing: Plan reported

Ownership: Indirect · By AJN Energy & Transport Ventures, LLC

Disclosed balance after: 104,862

F2 · price: 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 $0.51 to $0.53 per share. The price reported above reflects the weighted average purchase price on the date indicated. 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.

SEC source: 0001880613-25-000068 · wk-form4_1752872739.xml · nonDerivative · entry 2

SMITH W KEITH · CIK 0001203452 · Director · President · 10% owner

10b5-1 filing: Plan reported

Ownership: Indirect · By SKW Financial LLC

Disclosed balance after: 124,780

F2 · price: This sale was made pursuant to a 10b5-1 plan previously entered into by the reporting person on December 12, 2024. This transaction was executed in multiple trades at prices ranging from $0.51 to $0.53 per share. The price reported above reflects the weighted average purchase price on the date indicated. 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.

SEC source: 0001880613-25-000069 · wk-form4_1752872749.xml · nonDerivative · entry 1

Walker Mark D · CIK 0001896664 · Director · Chairman and CEO · 10% owner

10b5-1 filing: Plan reported

Ownership: Indirect · By AJN Energy & Transport Ventures, LLC

Disclosed balance after: 124,177

F1 · price: 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 $0.52 to $0.54 per share. The price reported above reflects the weighted average purchase price on the date indicated. 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.

SEC source: 0001880613-25-000068 · wk-form4_1752872739.xml · nonDerivative · entry 1

SMITH W KEITH · CIK 0001203452 · Director · President · 10% owner

10b5-1 filing: Plan reported

Ownership: Indirect · By SKW Financial LLC

Disclosed balance after: 144,730

F1 · price: This sale was made pursuant to a 10b5-1 plan previously entered into by the reporting person on December 12, 2024. This transaction was executed in multiple trades at prices ranging from $0.52 to $0.54 per share. The price reported above reflects the weighted average purchase price on the date indicated. 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.

SEC source: 0001880613-25-000057 · wk-form4_1752696335.xml · nonDerivative · entry 2

Walker Mark D · CIK 0001896664 · Director · Chairman and CEO · 10% owner

10b5-1 filing: Plan reported

Ownership: Indirect · By AJN Energy & Transport Ventures, LLC

Disclosed balance after: 135,780

F2 · price: 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 $0.53 to $0.56 per share. The price reported above reflects the weighted average purchase price on the date indicated. 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.

SEC source: 0001880613-25-000055 · wk-form4_1752696315.xml · nonDerivative · entry 2

SMITH W KEITH · CIK 0001203452 · Director · President · 10% owner

10b5-1 filing: Plan reported

Ownership: Indirect · By SKW Financial LLC

Disclosed balance after: 156,424

F2 · price: This sale was made pursuant to a 10b5-1 plan previously entered into by the reporting person on December 12, 2024. This transaction was executed in multiple trades at prices ranging from $0.53 to $0.56 per share. The price reported above reflects the weighted average purchase price on the date indicated. 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.

SEC source: 0001880613-25-000057 · wk-form4_1752696335.xml · nonDerivative · entry 1

Walker Mark D · CIK 0001896664 · Director · Chairman and CEO · 10% owner

10b5-1 filing: Plan reported

Ownership: Indirect · By AJN Energy & Transport Ventures, LLC

Disclosed balance after: 143,846

F1 · price: 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 $0.53 to $0.59 per share. The price reported above reflects the weighted average purchase price on the date indicated. 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.

SEC source: 0001880613-25-000055 · wk-form4_1752696315.xml · nonDerivative · entry 1

SMITH W KEITH · CIK 0001203452 · Director · President · 10% owner

10b5-1 filing: Plan reported

Ownership: Indirect · By SKW Financial LLC

Disclosed balance after: 164,524

F1 · price: This sale was made pursuant to a 10b5-1 plan previously entered into by the reporting person on December 12, 2024. This transaction was executed in multiple trades at prices ranging from $0.53 to $0.59 per share. The price reported above reflects the weighted average purchase price on the date indicated. 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.

SEC source: 0001880613-25-000051 · wk-form4_1750450337.xml · derivative · entry 3

Walker Mark D · CIK 0001896664 · Director · Chairman and CEO · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · By Direct Digital Management, LLC

Disclosed balance after: 5,254,000

Underlying: Class A Common Stock, par value $0.001 per share · 165,000 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: Pursuant to the Second Amended and Restated Limited Liability Company Agreement of Direct Digital Holdings, LLC, dated as of February 15, 2022, Class A Common Units (as defined therein) held by the Reporting Person (indirectly through the Reporting Person's ownership interest in Direct Digital Management, LLC) are exchangeable for shares of Class A Common Stock on a one-for-one basis, subject to certain exceptions, conditions and adjustments. The Class A Common Units have no expiration date. At the time of any such exchange, an equal number of shares of Class B Common Stock of the Issuer held by the Reporting Person, which have no economic value and entitle holders thereof to one vote per share on all matters on which stockholders of the Issuer are entitled to vote generally, are cancelled.

F1 · derivative.exercise_date: Pursuant to the Second Amended and Restated Limited Liability Company Agreement of Direct Digital Holdings, LLC, dated as of February 15, 2022, Class A Common Units (as defined therein) held by the Reporting Person (indirectly through the Reporting Person's ownership interest in Direct Digital Management, LLC) are exchangeable for shares of Class A Common Stock on a one-for-one basis, subject to certain exceptions, conditions and adjustments. The Class A Common Units have no expiration date. At the time of any such exchange, an equal number of shares of Class B Common Stock of the Issuer held by the Reporting Person, which have no economic value and entitle holders thereof to one vote per share on all matters on which stockholders of the Issuer are entitled to vote generally, are cancelled.

F1 · derivative.expiration_date: Pursuant to the Second Amended and Restated Limited Liability Company Agreement of Direct Digital Holdings, LLC, dated as of February 15, 2022, Class A Common Units (as defined therein) held by the Reporting Person (indirectly through the Reporting Person's ownership interest in Direct Digital Management, LLC) are exchangeable for shares of Class A Common Stock on a one-for-one basis, subject to certain exceptions, conditions and adjustments. The Class A Common Units have no expiration date. At the time of any such exchange, an equal number of shares of Class B Common Stock of the Issuer held by the Reporting Person, which have no economic value and entitle holders thereof to one vote per share on all matters on which stockholders of the Issuer are entitled to vote generally, are cancelled.

SEC source: 0001880613-25-000051 · wk-form4_1750450337.xml · nonDerivative · entry 1

Walker Mark D · CIK 0001896664 · Director · Chairman and CEO · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · By AJN Energy & Transport Ventures, LLC

Disclosed balance after: 165,000

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: Pursuant to the Second Amended and Restated Limited Liability Company Agreement of Direct Digital Holdings, LLC, dated as of February 15, 2022, Class A Common Units (as defined therein) held by the Reporting Person (indirectly through the Reporting Person's ownership interest in Direct Digital Management, LLC) are exchangeable for shares of Class A Common Stock on a one-for-one basis, subject to certain exceptions, conditions and adjustments. The Class A Common Units have no expiration date. At the time of any such exchange, an equal number of shares of Class B Common Stock of the Issuer held by the Reporting Person, which have no economic value and entitle holders thereof to one vote per share on all matters on which stockholders of the Issuer are entitled to vote generally, are cancelled.

SEC source: 0001880613-25-000052 · wk-form4_1750450354.xml · derivative · entry 3

SMITH W KEITH · CIK 0001203452 · Director · President · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · By Direct Digital Management, LLC

Disclosed balance after: 5,194,000

Underlying: Class A Common Stock, par value $0.001 per share · 185,000 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: Pursuant to the Second Amended and Restated Limited Liability Company Agreement of Direct Digital Holdings, LLC, dated as of February 15, 2022, Class A Common Units (as defined therein) held by the Reporting Person (indirectly through the Reporting Person's ownership interest in Direct Digital Management, LLC) are exchangeable for shares of Class A Common Stock on a one-for-one basis, subject to certain exceptions, conditions and adjustments. The Class A Common Units have no expiration date. At the time of any such exchange, an equal number of shares of Class B Common Stock of the Issuer held by the Reporting Person, which have no economic value and entitle holders thereof to one vote per share on all matters on which stockholders of the Issuer are entitled to vote generally, are cancelled.

F1 · derivative.exercise_date: Pursuant to the Second Amended and Restated Limited Liability Company Agreement of Direct Digital Holdings, LLC, dated as of February 15, 2022, Class A Common Units (as defined therein) held by the Reporting Person (indirectly through the Reporting Person's ownership interest in Direct Digital Management, LLC) are exchangeable for shares of Class A Common Stock on a one-for-one basis, subject to certain exceptions, conditions and adjustments. The Class A Common Units have no expiration date. At the time of any such exchange, an equal number of shares of Class B Common Stock of the Issuer held by the Reporting Person, which have no economic value and entitle holders thereof to one vote per share on all matters on which stockholders of the Issuer are entitled to vote generally, are cancelled.

F1 · derivative.expiration_date: Pursuant to the Second Amended and Restated Limited Liability Company Agreement of Direct Digital Holdings, LLC, dated as of February 15, 2022, Class A Common Units (as defined therein) held by the Reporting Person (indirectly through the Reporting Person's ownership interest in Direct Digital Management, LLC) are exchangeable for shares of Class A Common Stock on a one-for-one basis, subject to certain exceptions, conditions and adjustments. The Class A Common Units have no expiration date. At the time of any such exchange, an equal number of shares of Class B Common Stock of the Issuer held by the Reporting Person, which have no economic value and entitle holders thereof to one vote per share on all matters on which stockholders of the Issuer are entitled to vote generally, are cancelled.

SEC source: 0001880613-25-000052 · wk-form4_1750450354.xml · nonDerivative · entry 1

SMITH W KEITH · CIK 0001203452 · Director · President · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · By SKW Financial LLC

Disclosed balance after: 185,000

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: Pursuant to the Second Amended and Restated Limited Liability Company Agreement of Direct Digital Holdings, LLC, dated as of February 15, 2022, Class A Common Units (as defined therein) held by the Reporting Person (indirectly through the Reporting Person's ownership interest in Direct Digital Management, LLC) are exchangeable for shares of Class A Common Stock on a one-for-one basis, subject to certain exceptions, conditions and adjustments. The Class A Common Units have no expiration date. At the time of any such exchange, an equal number of shares of Class B Common Stock of the Issuer held by the Reporting Person, which have no economic value and entitle holders thereof to one vote per share on all matters on which stockholders of the Issuer are entitled to vote generally, are cancelled.

SEC source: 0001880613-25-000050 · wk-form4_1750450321.xml · derivative · entry 6

Direct Digital Management, LLC · CIK 0001897454 · 10% owner

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 10,448,000

Underlying: Class A Common Stock, par value $0.001 per share · 350,000 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: Pursuant to the Second Amended and Restated Limited Liability Company Agreement of Direct Digital Holdings LLC, dated as of February 15, 2022, Class A Common Units (as defined therein) held by the Reporting Person are exchangeable for shares of Class A Common Stock on a one-for-one basis, subject to certain exceptions, conditions and adjustments. The Class A Common Units have no expiration date. At the time of any such exchange, an equal number of shares of Class B Common Stock of the Issuer held by the Reporting Person, which have no economic value and entitle holders thereof to one vote per share on all matters on which stockholders of the Issuer are entitled to vote generally, are cancelled.

F1 · derivative.exercise_date: Pursuant to the Second Amended and Restated Limited Liability Company Agreement of Direct Digital Holdings LLC, dated as of February 15, 2022, Class A Common Units (as defined therein) held by the Reporting Person are exchangeable for shares of Class A Common Stock on a one-for-one basis, subject to certain exceptions, conditions and adjustments. The Class A Common Units have no expiration date. At the time of any such exchange, an equal number of shares of Class B Common Stock of the Issuer held by the Reporting Person, which have no economic value and entitle holders thereof to one vote per share on all matters on which stockholders of the Issuer are entitled to vote generally, are cancelled.

F1 · derivative.expiration_date: Pursuant to the Second Amended and Restated Limited Liability Company Agreement of Direct Digital Holdings LLC, dated as of February 15, 2022, Class A Common Units (as defined therein) held by the Reporting Person are exchangeable for shares of Class A Common Stock on a one-for-one basis, subject to certain exceptions, conditions and adjustments. The Class A Common Units have no expiration date. At the time of any such exchange, an equal number of shares of Class B Common Stock of the Issuer held by the Reporting Person, which have no economic value and entitle holders thereof to one vote per share on all matters on which stockholders of the Issuer are entitled to vote generally, are cancelled.

SEC source: 0001880613-25-000050 · wk-form4_1750450321.xml · nonDerivative · entry 4

Direct Digital Management, LLC · CIK 0001897454 · 10% owner

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

F3 · kind: The Reporting Person distributed 350,000 shares of Class A Common Stock to two of its members for no consideration.

SEC source: 0001880613-25-000050 · wk-form4_1750450321.xml · nonDerivative · entry 3

Direct Digital Management, LLC · CIK 0001897454 · 10% owner

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 350,000

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: Pursuant to the Second Amended and Restated Limited Liability Company Agreement of Direct Digital Holdings LLC, dated as of February 15, 2022, Class A Common Units (as defined therein) held by the Reporting Person are exchangeable for shares of Class A Common Stock on a one-for-one basis, subject to certain exceptions, conditions and adjustments. The Class A Common Units have no expiration date. At the time of any such exchange, an equal number of shares of Class B Common Stock of the Issuer held by the Reporting Person, which have no economic value and entitle holders thereof to one vote per share on all matters on which stockholders of the Issuer are entitled to vote generally, are cancelled.

SEC source: 0001880613-25-000040 · wk-form4_1749844948.xml · nonDerivative · entry 3

Walker Mark D · CIK 0001896664 · Director · Chairman and CEO · 10% owner

10b5-1 filing: Plan reported

Ownership: Indirect · By AJN Energy & Transport Ventures, LLC

Disclosed balance after: 0

F3 · price: 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 $0.54 to $0.51 per share. The price reported above reflects the weighted average purchase price on the date indicated. 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.

SEC source: 0001880613-25-000040 · wk-form4_1749844948.xml · nonDerivative · entry 2

Walker Mark D · CIK 0001896664 · Director · Chairman and CEO · 10% owner

10b5-1 filing: Plan reported

Ownership: Indirect · By AJN Energy & Transport Ventures, LLC

Disclosed balance after: 6,986

F2 · price: 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 $0.52 to $0.54 per share. The price reported above reflects the weighted average purchase price on the date indicated. 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.

SEC source: 0001880613-25-000043 · wk-form4_1749847470.xml · derivative · entry 3

Cohen Richard · CIK 0001298692 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 8,205

Underlying: Class A Common Stock, par value $0.001 per share · 8,205 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: Each restricted stock unit represents a contingent right to one share of DRCT's Class A Common Stock, par value $0.001 per share, upon settlement.

F3 · derivative.exercise_date: On June 12, 2023, the reporting person was granted 24,615 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 will vest on June 12, 2026. 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).

F3 · derivative.expiration_date: On June 12, 2023, the reporting person was granted 24,615 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 will vest on June 12, 2026. 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).

SEC source: 0001880613-25-000043 · wk-form4_1749847470.xml · nonDerivative · entry 2

Cohen Richard · CIK 0001298692 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 70,302

F2 · shares: Represents shares sold to satisfy tax liabilities associated with the reported vesting of restricted stock units for 8,205 shares.

SEC source: 0001880613-25-000043 · wk-form4_1749847470.xml · nonDerivative · entry 1

Cohen Richard · CIK 0001298692 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 73,716

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: Each restricted stock unit represents a contingent right to one share of DRCT's Class A Common Stock, par value $0.001 per share, upon settlement.

SEC source: 0001880613-25-000042 · wk-form4_1749847464.xml · derivative · entry 3

Leatherberry Antoinette Renee · CIK 0001834624 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 8,205

Underlying: Class A Common Stock, par value $0.001 per share · 8,205 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: Each restricted stock unit represents a contingent right to one share of DRCT's Class A Common Stock, par value $0.001 per share, upon settlement.

F3 · derivative.exercise_date: On June 12, 2023, the reporting person was granted 24,615 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 will vest on June 12, 2026. 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).

F3 · derivative.expiration_date: On June 12, 2023, the reporting person was granted 24,615 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 will vest on June 12, 2026. 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).

SEC source: 0001880613-25-000042 · wk-form4_1749847464.xml · nonDerivative · entry 2

Leatherberry Antoinette Renee · CIK 0001834624 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 74,442

F2 · shares: Represents shares sold to satisfy tax liabilities associated with the reported vesting of restricted stock units for 8,205 shares.

SEC source: 0001880613-25-000042 · wk-form4_1749847464.xml · nonDerivative · entry 1

Leatherberry Antoinette Renee · CIK 0001834624 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 76,470

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: Each restricted stock unit represents a contingent right to one share of DRCT's Class A Common Stock, par value $0.001 per share, upon settlement.

SEC source: 0001880613-25-000041 · wk-form4_1749847457.xml · derivative · entry 3

Locke Mistelle · CIK 0001960753 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 8,205

Underlying: Class A Common Stock, par value $0.001 per share · 8,205 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: Each restricted stock unit represents a contingent right to one share of DRCT's Class A Common Stock, par value $0.001 per share, upon settlement.

F3 · derivative.exercise_date: On June 12, 2023, the reporting person was granted 24,615 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 will vest on June 12, 2026. 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).

F3 · derivative.expiration_date: On June 12, 2023, the reporting person was granted 24,615 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 will vest on June 12, 2026. 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).

SEC source: 0001880613-25-000041 · wk-form4_1749847457.xml · nonDerivative · entry 2

Locke Mistelle · CIK 0001960753 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 40,447

F2 · shares: Represents shares sold to satisfy tax liabilities associated with the reported vesting of restricted stock units for 8,205 shares.

SEC source: 0001880613-25-000041 · wk-form4_1749847457.xml · nonDerivative · entry 1

Locke Mistelle · CIK 0001960753 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 43,879

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: Each restricted stock unit represents a contingent right to one share of DRCT's Class A Common Stock, par value $0.001 per share, upon settlement.

SEC source: 0001880613-25-000040 · wk-form4_1749844948.xml · nonDerivative · entry 1

Walker Mark D · CIK 0001896664 · Director · Chairman and CEO · 10% owner

10b5-1 filing: Plan reported

Ownership: Indirect · By AJN Energy & Transport Ventures, LLC

Disclosed balance after: 18,560

F1 · price: 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 $0.52 to $0.56 per share. The price reported above reflects the weighted average purchase price on the date indicated. 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.

SEC source: 0001880613-25-000031 · wk-form4_1749759807.xml · derivative · entry 3

Pillai Anu · CIK 0001896798 · Chief Technology Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

Underlying: Class A Common Stock, par value $0.001 per share · 6,218 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: Each restricted stock unit represents a contingent right to one share of DRCT's Class A Common Stock, par value $0.001 per share, upon settlement.

F3 · derivative.exercise_date: On June 10, 2022, the reporting person was granted 18,650 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 10, 2023, an additional 33 percent vested on June 10, 2024, and the remaining balance of 34 percent of the restricted stock units vested on June 10, 2025.

F3 · derivative.expiration_date: On June 10, 2022, the reporting person was granted 18,650 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 10, 2023, an additional 33 percent vested on June 10, 2024, and the remaining balance of 34 percent of the restricted stock units vested on June 10, 2025.

SEC source: 0001880613-25-000031 · wk-form4_1749759807.xml · nonDerivative · entry 2

Pillai Anu · CIK 0001896798 · Chief Technology Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 21,704

F2 · shares: Represents shares withheld to satisfy tax liabilities associated with the reported vesting of restricted stock units for 6,218 shares.

SEC source: 0001880613-25-000031 · wk-form4_1749759807.xml · nonDerivative · entry 1

Pillai Anu · CIK 0001896798 · Chief Technology Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 23,856

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: Each restricted stock unit represents a contingent right to one share of DRCT's Class A Common Stock, par value $0.001 per share, upon settlement.

SEC source: 0001880613-25-000027 · wk-form4_1749759719.xml · derivative · entry 4

Walker Mark D · CIK 0001896664 · Director · Chairman and CEO · 10% owner

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

Underlying: Class A Common Stock, par value $0.001 per share · 20,300 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: Each restricted stock unit represents a contingent right to one share of DRCT's Class A Common Stock, par value $0.001 per share, upon settlement.

F3 · derivative.exercise_date: June 10, 2022, the reporting person was granted 60,900 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 10, 2023, an additional 33 percent vested on June 10, 2024, and the remaining balance of 34 percent of the restricted stock units vested on June 10, 2025.

F3 · derivative.expiration_date: June 10, 2022, the reporting person was granted 60,900 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 10, 2023, an additional 33 percent vested on June 10, 2024, and the remaining balance of 34 percent of the restricted stock units vested on June 10, 2025.

SEC source: 0001880613-25-000027 · wk-form4_1749759719.xml · nonDerivative · entry 2

Walker Mark D · CIK 0001896664 · Director · Chairman and CEO · 10% owner

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 22,369

F2 · shares: Represents shares withheld to satisfy tax liabilities associated with the reported vesting of restricted stock units for 20,300 shares.

SEC source: 0001880613-25-000027 · wk-form4_1749759719.xml · nonDerivative · entry 1

Walker Mark D · CIK 0001896664 · Director · Chairman and CEO · 10% owner

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 27,313

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: Each restricted stock unit represents a contingent right to one share of DRCT's Class A Common Stock, par value $0.001 per share, upon settlement.

SEC source: 0001880613-25-000032 · wk-form4_1749759819.xml · derivative · entry 3

Cohen Richard · CIK 0001298692 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

Underlying: Class A Common Stock, par value $0.001 per share · 16,462 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: Each restricted stock unit represents a contingent right to one share of DRCT's Class A Common Stock, par value $0.001 per share, upon settlement.

F3 · derivative.exercise_date: On June 10, 2022, the reporting person was granted 49,382 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 10, 2023, an additional 33 percent vested on June 10, 2024, and the remaining balance of 34 percent of the restricted stock units vested on June 10, 2025.

F3 · derivative.expiration_date: On June 10, 2022, the reporting person was granted 49,382 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 10, 2023, an additional 33 percent vested on June 10, 2024, and the remaining balance of 34 percent of the restricted stock units vested on June 10, 2025.

SEC source: 0001880613-25-000032 · wk-form4_1749759819.xml · nonDerivative · entry 2

Cohen Richard · CIK 0001298692 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 65,511

F2 · shares: Represents shares sold to satisfy tax liabilities associated with the reported vesting of restricted stock units for 16,462 shares

SEC source: 0001880613-25-000032 · wk-form4_1749759819.xml · nonDerivative · entry 1

Cohen Richard · CIK 0001298692 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 72,367

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: Each restricted stock unit represents a contingent right to one share of DRCT's Class A Common Stock, par value $0.001 per share, upon settlement.