DV DoubleVerify Holdings, Inc.

Did the company actually spend money buying back stock in 3+ of the last 4 quarters?

Bought back stock in 4/4 quarters. Q1 2025: $82M, Q1 2026: $82M, Q3 2024: $25M, Q3 2025: $25M

Is the most recent quarter's buyback spend more than 15% above the trailing average?

Latest quarter $82M vs trailing avg $44M (+86%)

What percentage of free cash flow is going to buybacks? Bull: 30%+. Bear: negative FCF or no buybacks.

Negative FCF ($-160M), buybacks not supported by cash flow

How fast are they shrinking the float? Bull: 2%+ annually. Bear: under 0.5%.

Missing shares repurchased or outstanding data

Are officers and directors buying stock with their own money on the open market?

2 open-market purchases by 2 insiders

• Eddleman Julie (Global Chief Comm. Officer) bought 1,096 shares at $11.68 on 2025-05-31
• Zagorski Mark (Chief Executive Officer) bought 1,141 shares at $11.68 on 2025-05-31

Are both company buybacks and insider buying independently active? Bull when the company is buying back stock in 2+ quarters and insiders have made 2+ open-market purchases.

Company buybacks in 4 quarters and 2 insider purchases by 2 insiders (no calendar overlap, but both independently active)

Over the last 90 days, are insiders net buyers or net sellers on the open market?

Insiders bought $0M, sold $0M in the last 90 days (net selling)

Active buyback + insiders net selling 3x+ more than buying. Company cash may be supporting price while insiders exit.

Company buying back stock while insiders sold 29.5x more than bought. 1 C-suite officers among sellers

• Grimmig Andrew E (Chief Legal Officer) sold 1,000 shares on 2026-03-02
• Grimmig Andrew E (Chief Legal Officer) sold 1,000 shares on 2026-02-02
• Grimmig Andrew E (Chief Legal Officer) sold 1,000 shares on 2026-01-02
• Grimmig Andrew E (Chief Legal Officer) sold 3,096 shares on 2025-12-16
• Grimmig Andrew E (Chief Legal Officer) sold 1,000 shares on 2025-12-01
• Grimmig Andrew E (Chief Legal Officer) sold 1,000 shares on 2025-11-03
• Grimmig Andrew E (Chief Legal Officer) sold 1,000 shares on 2025-10-01
• Grimmig Andrew E (Chief Legal Officer) sold 4,096 shares on 2025-09-17