X0303 4 2008-08-27 0000879703 DIRECT INSITE CORP DIRI.OB 0001220686 CANNAVINO JAMES A 6501 RED HOOK PLAZA SUITE 201 - PMB RED HOOK, ST. THOMAS, U.S.V.I. VI 00802 VIRGIN ISLANDS, U.S. 1 1 0 0 Chairman of the Board & CEO Common Stock 1639767 D Common Stock 2008-08-27 4 P 0 2000 1.51 A 1641767 D Series C Redeemable Preferred Stock 200 D Common Stock Purchase Warrants .9348 2008-08-25 4 X 0 149765 .9348 D 2005-12-18 2008-12-18 Common Stock 149765 400000 D Common Stock Purchase Warrants .9348 2008-08-25 4 X 0 64185 .9348 D 2005-12-15 2008-12-15 Common Stock 64185 400000 D 2004 Stock Issuance/Stk Option Plan 1.50 2008-03-25 4 A 0 50000 1.50 A 2008-03-25 2013-03-24 Common Stock 50000 400000 D 2005 Employee Option Plan .62 2005-12-30 4 A 0 350000 .62 A 2005-12-30 2012-12-29 Common Stock 350000 350000 D Warrants to purchase common stock are exercisable at the rate of no less than 500 shares at a time during the term of the Warrants. Shares vest 50% on March 25, 2008 and 50% on March 25, 2009. /s/ James A. Cannavino 2008-08-28