[Form 4] The Trade Desk, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Insider stock withholdings for tax obligations reduced Laura Schenkein's reported Class A common stock holdings at Trade Desk, Inc. (TTD). On 08/15/2025 the reporting person reported multiple dispositions identified as tax-withheld shares related to partial vesting of restricted stock/unit awards granted between 2022 and 2025. Each disposition recorded a price of $52.12 per share. After the reported withholdings, the reporting person beneficially owned 737,222 shares of Class A common stock. The transactions are described as withholding to satisfy tax withholding obligations upon vesting rather than open-market sales.

Positive

• Retained substantial ownership: Reporting person still beneficially owns 737,222 Class A shares after withholdings, indicating ongoing stake in TTD.

Negative

• Reduction in share count through withholdings: Multiple share dispositions were recorded on 08/15/2025, reducing the reporting person's beneficial ownership as shares were withheld to satisfy tax obligations.

Insights

Securities Analyst

TL;DR: Routine insider tax-withholding reduced holdings; no evidence of open-market selling or change in role.

The Form 4 discloses multiple dispositions on the same date, each annotated as shares withheld to satisfy tax obligations on vesting restricted awards from grants dated 2022–2025. The consistent per-share price of $52.12 appears to be the withholding valuation rather than an active open-market trade. The resulting beneficial ownership of 737,222 Class A shares indicates continued material ownership.

Corporate Governance Expert

TL;DR: Transactions are administrative tax-withholding events tied to equity compensation, not a directional insider liquidity signal.

Each entry is explicitly explained as shares withheld at the election of the reporting person to satisfy tax withholding for partial vesting of RSUs/Restricted Stock from specific grant dates. Such filings are common when equity awards vest and do not necessarily reflect discretionary selling. No amendments or joint filings were indicated, and the filer remains an officer (CFO).

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Schenkein Laura

(Last) (First) (Middle)

C/O THE TRADE DESK INC.

42 N. CHESTNUT STREET

(Street)

VENTURA CA 93001

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Trade Desk, Inc. [ TTD ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Financial Officer

3. Date of Earliest Transaction (Month/Day/Year)
08/15/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	08/15/2025		F		562(1)	D	$52.12	745,340	D
Class A Common Stock	08/15/2025		F		631(2)	D	$52.12	744,709	D
Class A Common Stock	08/15/2025		F		1,473(3)	D	$52.12	743,236	D
Class A Common Stock	08/15/2025		F		1,090(4)	D	$52.12	742,146	D
Class A Common Stock	08/15/2025		F		2,077(5)	D	$52.12	740,069	D
Class A Common Stock	08/15/2025		F		2,847(6)	D	$52.12	737,222	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The shares were withheld at the election of the Reporting Person to satisfy tax withholding obligations in connection with the partial vesting of a Restricted Stock Unit Award granted March 2, 2022.

2. The shares were withheld at the election of the Reporting Person to satisfy tax withholding obligations in connection with the partial vesting of a Restricted Stock Unit Award granted April 26, 2022.

3. The shares were withheld at the election of the Reporting Person to satisfy tax withholding obligations in connection with the partial vesting of a Restricted Stock Unit Award granted April 24, 2023.

4. The shares were withheld at the election of the Reporting Person to satisfy tax withholding obligations in connection with the partial vesting of a Restricted Stock Award granted June 1, 2023.

5. The shares were withheld at the election of the Reporting Person to satisfy tax withholding obligations in connection with the partial vesting of a Restricted Stock Award granted April 23, 2024.

6. The shares were withheld at the election of the Reporting Person to satisfy tax withholding obligations in connection with the partial vesting of a Restricted Stock Award granted April 15, 2025.

Remarks:

	/s/ Kelli Faerber, Attorney-in-Fact for Laura Schenkein	08/19/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What transactions did Laura Schenkein report on the TTD Form 4?

The Form 4 reports multiple dispositions on 08/15/2025 where shares were withheld to satisfy tax withholding obligations related to partial vesting of restricted stock/RSU awards.

How many Class A shares does the reporting person own after the transactions?

After the reported withholdings the reporting person beneficially owned 737,222 shares of Class A common stock.

Were the transactions open-market sales or tax withholdings?

Each disposition is described as shares withheld at the reporting person's election to satisfy tax withholding obligations triggered by vesting awards, not explicit open-market sales.

What price per share is shown on the Form 4 for these dispositions?

The Form 4 lists a price of $52.12 per share for each reported disposition.

What awards triggered the withholdings?

The withholdings correspond to partial vesting of restricted stock/unit awards granted on March 2, 2022; April 26, 2022; April 24, 2023; June 1, 2023; April 23, 2024; and April 15, 2025.