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They are levels in the management track.

M: Manager D: Director

The rough matching of levels is: M0, E5 or senior engineer, M1 to E6 or staff engineer, M2 for manager of managers, etc.

Director is the level above M2.

Here's a mapping of Manager levels to other companies such as Google, Amazon and Microsoft:

And as another point of reference, mapping of Engineer levels to these same companies:

It's their designator for management path employees. I'm assuming it's (D)irector and (M)anager.

(D)irector and (M)anager. Director are Manager who manage Manager.

it's basically smooth talking.