secwatch.observer — SEC 8-K summary
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Issuer:     Digital Turbine, Inc. (APPS)
CIK:        0000317788
Form:       8-K
Filed at:   2022-06-01T23:59:59+00:00
Accession:  0001628280-22-015933
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Digital Turbine grants performance-based RSUs to CEO and CFO with revenue/EBITDA targets and TSR modifier
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- CEO Stone granted 70,330 target PSUs; CFO Garrison granted 26,257 target PSUs; vesting based 50% on 3-yr revenue, 50% on 3-yr adjusted EBITDA.
- PSU payout ranges from 50% to 200% of target based on goal achievement; TSR modifier may increase vested shares up to 120% vs S&P Software & Services Index.
- CFO Garrison's FY2023 annual incentive payout percentages raised to threshold 50%, target 100%, stretch 200% of base salary.
- Also granted time-vesting RSUs and stock options with exercise price at 110% of grant date closing price.
- Compensation committee may adjust future percentages and allocations despite existing employment agreements.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/317788/000162828022015933/0001628280-22-015933-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/317788/000162828022015933/apps-20220527.htm
  HTML page:      https://secwatch.observer/filing/0001628280-22-015933

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer