{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-23-068267","form_type":"8-K","ticker":"DRCT","cik":"0001880613","company_name":"Direct Digital Holdings, Inc.","filed_at":"2023-06-06T23:59:59+00:00","discovered_at":"2026-05-14T18:03:41.447412+00:00","generated_at":"2026-06-14T06:52:48.560574+00:00","sec_items":["1.01","5.02","9.01"],"event_type":"leadership","sentiment":"negative","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"Direct Digital Holdings CFO Leaves; Diana P. Diaz Named Interim CFO","bullets":["CFO Susan Echard separated effective June 5, 2023; severance of 12 months base salary plus accrued benefits conditioned on release.","Diana P. Diaz appointed interim CFO; previously CAO at Sharps Compliance and CFO at University General Hospital.","Company entered Early Opt-in Agreement converting LIBOR-based rate under 2021 Credit Facility to Term SOFR with credit spread adjustments.","The amendment sets Benchmark Replacement spreads: 0.10% (1-month), 0.15% (3-month), 0.25% (6-month)."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-23-068267","json":"https://secwatch.observer/filing/0001104659-23-068267.json","markdown":"https://secwatch.observer/filing/0001104659-23-068267.md","text":"https://secwatch.observer/filing/0001104659-23-068267.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1880613/000110465923068267/0001104659-23-068267-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1880613/000110465923068267/tm2317854d2_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-14T06:52:48.560574+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"66d5908f2e","claim":"Diana P. Diaz was appointed as interim Chief Financial Officer at Direct Digital Holdings, Inc..","evidence_excerpt":"the Board of Directors (the “ Board ”) of the Company appointed Diana P. Diaz as interim Chief Financial Officer.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1880613/000110465923068267/0001104659-23-068267-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"appointed"},{"label":"Role","value":"interim Chief Financial Officer"}],"fact_type":"executive_change"},{"claim_id":"be2fcf362d","claim":"Susan Echard departed as Chief Financial Officer at Direct Digital Holdings, Inc..","evidence_excerpt":"On June 5, 2023, the Company announced that Susan Echard, the Company’s Chief Financial Officer, has separated from the Company, effective immediately.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1880613/000110465923068267/0001104659-23-068267-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"separated"},{"label":"Role","value":"Chief Financial Officer"}],"fact_type":"executive_change"},{"claim_id":"e614f324afb351f9ffdc5c8e0c7d62de5f53fc11","claim":"Direct Digital Holdings, Inc. amended Early Opt-in Agreement with Lafayette Square Loan Servicing, LLC and Lafayette Square USA, Inc. (effective 2023-06-01).","evidence_excerpt":"On June 1, 2023, Direct Digital Holdings, Inc. (the “ Company ”), Direct Digital Holdings, LLC (“ DDH LLC ”), Huddled Masses LLC (“ HM ”), Colossus Media, LLC (“ Colossus ”) and Orange142, LLC (“ Orange ”) entered into an early opt-in election agreement (the “ Early Opt-in Agreement ”) with Lafayette Square Loan Servicing, LLC (“ Lafayette Square ”) and Lafayette Square USA, Inc., which converts the existing LIBOR-based rate under the Term Loan and Security Agreement, dated December 3, 2021 (as amended, the “ 2021 Credit Facility ”) among DDH LLC, as borrower, the Company, HM, Colossus, and Orange, as guarantors, and Lafayette Square, as administrative agent, and the various lenders thereto, to a Term SOFR Rate with a credit spread of 0.15% per annum for interest periods of three months.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1880613/000110465923068267/0001104659-23-068267-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"amendment"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"Lafayette Square Loan Servicing, LLC and Lafayette Square USA, Inc."},{"label":"Effective","value":"2023-06-01"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}