Walker Mark D

SEC source: 0001628280-26-060597 · wk-form4_1788482763.xml · nonDerivative · entry 2

Walker Mark D · CIK 0001896664 · Director · Chairman and CEO

10b5-1 filing: No plan indicated

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

Disclosed balance after: 7,864

SEC source: 0001628280-26-060597 · wk-form4_1788482763.xml · nonDerivative · entry 1

Walker Mark D · CIK 0001896664 · Director · Chairman and CEO

10b5-1 filing: No plan indicated

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

Disclosed balance after: 8,364

F1 · price: This transaction was executed in multiple trades at prices ranging from $1.95 to $2.165 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 sold at each separate price within the range set forth in this footnote.

SEC source: 0001896664-26-000007 · wk-form4_1787960225.xml · derivative · entry 3

Walker Mark D · CIK 0001896664 · Director · Chairman and CEO

10b5-1 filing: No plan indicated

Ownership: Indirect · By Direct Digital Management, LLC

Disclosed balance after: 11,279

Underlying: Class A Common Stock, par value $0.001 per share · 10,000 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.

F2 · shares: On January 12, 2026, Direct Digital Holdings, Inc. effected a 55-to-1 reverse stock split and subsequently on April 27, 2026, the Company effected a 4-to-1 reverse stock split (collectively, the "Reverse Stock Splits"). The Class A Common Units held by the Reporting Person had been adjusted as a result of the Reverse Stock Splits.

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.

F2 · balance_after: On January 12, 2026, Direct Digital Holdings, Inc. effected a 55-to-1 reverse stock split and subsequently on April 27, 2026, the Company effected a 4-to-1 reverse stock split (collectively, the "Reverse Stock Splits"). The Class A Common Units held by the Reporting Person had been adjusted as a result of the Reverse Stock Splits.

SEC source: 0001896664-26-000007 · wk-form4_1787960225.xml · nonDerivative · entry 1

Walker Mark D · CIK 0001896664 · Director · Chairman and CEO

10b5-1 filing: No plan indicated

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

Disclosed balance after: 10,000

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: 0001896664-26-000002 · wk-form4_1782767375.xml · nonDerivative · entry 7

Walker Mark D · CIK 0001896664 · Director · Chairman and CEO

10b5-1 filing: Plan reported

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

Disclosed balance after: 0

F1 · shares: 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.

F5 · 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 $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.

SEC source: 0001896664-26-000002 · wk-form4_1782767375.xml · derivative · entry 11

Walker Mark D · CIK 0001896664 · Director · Chairman and CEO

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 136

Underlying: Class A Common Stock, par value $0.001 per share · 67 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.

F2 · derivative.exercise_price: 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.

F9 · shares: 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.

F9 · derivative.exercise_date: 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.

F9 · derivative.expiration_date: 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.

F9 · derivative.underlying_shares: 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.

F9 · balance_after: 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.

SEC source: 0001896664-26-000002 · wk-form4_1782767375.xml · nonDerivative · entry 6

Walker Mark D · CIK 0001896664 · Director · Chairman and CEO

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 221

F3 · shares: The shares and price reported for the applicable transaction have been adjusted to reflect the April Reverse Stock Split.

F4 · shares: Represents shares withheld to satisfy tax liabilities associated with the reported vesting of restricted stock units on the applicable transaction date.

F3 · price: The shares and price reported for the applicable transaction have been adjusted to reflect the April Reverse Stock Split.

SEC source: 0001896664-26-000002 · wk-form4_1782767375.xml · nonDerivative · entry 5

Walker Mark D · CIK 0001896664 · Director · Chairman and CEO

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 241

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.

F3 · shares: The shares and price reported for the applicable transaction have been adjusted to reflect the April Reverse Stock Split.

F2 · price: 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.

SEC source: 0001896664-26-000002 · wk-form4_1782767375.xml · derivative · entry 10

Walker Mark D · CIK 0001896664 · Director · Chairman and CEO

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 8,750

Underlying: Class A Common Stock, par value $0.001 per share · 8,750 shares

Expires 2036-03-24

F3 · derivative.exercise_price: The shares and price reported for the applicable transaction have been adjusted to reflect the April Reverse Stock Split.

F3 · shares: The shares and price reported for the applicable transaction have been adjusted to reflect the April Reverse Stock Split.

F8 · derivative.exercise_date: This option is scheduled to vest in three equal annual installments beginning on March 24, 2027.

F3 · derivative.underlying_shares: The shares and price reported for the applicable transaction have been adjusted to reflect the April Reverse Stock Split.

F3 · balance_after: The shares and price reported for the applicable transaction have been adjusted to reflect the April Reverse Stock Split.

SEC source: 0001896664-26-000002 · wk-form4_1782767375.xml · derivative · entry 9

Walker Mark D · CIK 0001896664 · Director · Chairman and CEO

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 0

Underlying: Class A Common Stock, par value $0.001 per share · 45 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.

F2 · derivative.exercise_price: 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.

F7 · shares: 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.

F7 · derivative.exercise_date: 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.

F7 · derivative.expiration_date: 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.

F7 · derivative.underlying_shares: 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.

SEC source: 0001896664-26-000002 · wk-form4_1782767375.xml · nonDerivative · entry 4

Walker Mark D · CIK 0001896664 · Director · Chairman and CEO

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 174

F3 · shares: The shares and price reported for the applicable transaction have been adjusted to reflect the April Reverse Stock Split.

F4 · shares: Represents shares withheld to satisfy tax liabilities associated with the reported vesting of restricted stock units on the applicable transaction date.

F3 · price: The shares and price reported for the applicable transaction have been adjusted to reflect the April Reverse Stock Split.

SEC source: 0001896664-26-000002 · wk-form4_1782767375.xml · nonDerivative · entry 3

Walker Mark D · CIK 0001896664 · Director · Chairman and CEO

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 188

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.

F3 · shares: The shares and price reported for the applicable transaction have been adjusted to reflect the April Reverse Stock Split.

F2 · price: 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.

SEC source: 0001896664-26-000002 · wk-form4_1782767375.xml · derivative · entry 8

Walker Mark D · CIK 0001896664 · Director · Chairman and CEO

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 0

Underlying: Class A Common Stock, par value $0.001 per share · 204 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.

F2 · derivative.exercise_price: 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.

F6 · shares: 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.

F6 · derivative.exercise_date: 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.

F6 · derivative.expiration_date: 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.

F6 · derivative.underlying_shares: 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.

SEC source: 0001896664-26-000002 · wk-form4_1782767375.xml · nonDerivative · entry 2

Walker Mark D · CIK 0001896664 · Director · Chairman and CEO

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 143

F3 · shares: The shares and price reported for the applicable transaction have been adjusted to reflect the April Reverse Stock Split.

F4 · shares: Represents shares withheld to satisfy tax liabilities associated with the reported vesting of restricted stock units on the applicable transaction date.

F3 · price: The shares and price reported for the applicable transaction have been adjusted to reflect the April Reverse Stock Split.

SEC source: 0001896664-26-000002 · wk-form4_1782767375.xml · nonDerivative · entry 1

Walker Mark D · CIK 0001896664 · Director · Chairman and CEO

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 204

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 · shares: 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.

F2 · price: 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.

F1 · balance_after: 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.

SEC source: 0001896664-25-000018 · wk-form4_1766511125.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: 4,681,500

Underlying: Class A Common Stock, par value $0.001 per share · 300,000 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: 0001896664-25-000018 · wk-form4_1766511125.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: 300,000

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: 0001896664-25-000010 · wk-form4_1763413497.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: 0

F2 · price: This transaction was executed in multiple trades at prices ranging from $0.20 to $0.24 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: 0001896664-25-000010 · wk-form4_1763413497.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: 245,008

F1 · price: This transaction was executed in multiple trades at prices ranging from $0.35 to $0.38 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: 0001896664-25-000008 · wk-form4_1759435819.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: 4,981,500

Underlying: Class A Common Stock, par value $0.001 per share · 272,500 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: 0001896664-25-000008 · wk-form4_1759435819.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: 272,500

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: 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: 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: 0001880613-25-000072 · 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: 0001880613-25-000072 · 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: 0001880613-25-000069 · 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: 0001880613-25-000069 · 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: 0001880613-25-000069 · 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: 0001880613-25-000057 · 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: 0001880613-25-000057 · 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: 0001880613-25-000051 · 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: 0001880613-25-000040 · 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: 0001880613-25-000040 · 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: 0001880613-25-000027 · 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: 0001628280-25-018563 · wk-form4_1745265698.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: 28,323

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 $0.57 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.

F2 · balance_after: Due to administrative error, the number of non-derivative securities beneficially owned by the Reporting Person was incorrectly reported as 31,518 instead of 31,508 on a Form 4 filed on March 19, 2025. This column reflects the corrected balance, as effected by the transactions reported on this Form 4.

SEC source: 0001628280-25-016874 · wk-form4_1743803360.xml · derivative · entry 2

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

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 45,000

Underlying: Class A Common Stock, par value $0.001 per share · 45,000 shares

Expires 2035-04-01

F3 · derivative.exercise_date: This option is scheduled to vest in three equal annual installments beginning on April 1, 2026.

SEC source: 0001628280-25-016874 · wk-form4_1743803360.xml · derivative · entry 1

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

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 45,000

Underlying: Class A Common Stock, par value $0.001 per share · 45,000 shares

Expires not disclosed

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.

F2 · derivative.exercise_date: The restricted stock units will vest in three annual installments, with 33% to vest on each of the first and second anniversary of the grant date and the remaining 34% to vest on the third anniversary of the grant date. 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).

F2 · derivative.expiration_date: The restricted stock units will vest in three annual installments, with 33% to vest on each of the first and second anniversary of the grant date and the remaining 34% to vest on the third anniversary of the grant date. 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: 0001628280-25-015293 · wk-form4_1743119690.xml · nonDerivative · entry 6

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: 37,033

F7 · 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 $0.70 to $0.83 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: 0001628280-25-015293 · wk-form4_1743119690.xml · derivative · entry 8

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

10b5-1 filing: Plan reported

Ownership: Indirect · By Direct Digital Management, LLC

Disclosed balance after: 5,419,000

Underlying: Class A Common Stock, par value $0.001 per share · 70,000 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.

F3 · 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.

F3 · 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.

F3 · 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: 0001628280-25-015293 · wk-form4_1743119690.xml · nonDerivative · entry 5

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: 43,152

F6 · 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 $0.75 to $0.82 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: 0001628280-25-015293 · wk-form4_1743119690.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: 70,640

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.

F3 · 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.

F4 · ownership.nature: Upon receipt of the securities converted from Table II, Direct Digital Management, LLC distributed 70,000 shares of Class A Common Stock to one of its members, AJN Energy & Transport Ventures, LLC, for no consideration. The Reporting Person, as owner of AJN Energy & Transport Ventures, LLC and a Managing Partner of Direct Digital Management, LLC, may be deemed to have beneficial ownership of the securities directly held by AJN Energy & Transport Ventures, LLC and Direct Digital Management, LLC.

SEC source: 0001628280-25-015293 · wk-form4_1743119690.xml · nonDerivative · entry 4

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: 62,930

F5 · 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 $0.75 to $0.78 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: 0001628280-25-014571 · wk-form4_1742856260.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: 640

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 $0.73 to $0.81 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: 0001628280-25-014571 · wk-form4_1742856260.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: 11,088

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 $0.75 to $0.78 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.