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

Rhea-AI Filing Summary

Insider transactions by Alex Kayyal, Chief Financial Officer and director of The Trade Desk (TTD): The filing reports multiple adjustments to Kayyal’s holdings. On 08/20/2025 the reporting person forfeited unvested restricted stock units from prior grants (1,002; 1,838; and 317 shares), with one disposition showing a price basis of $59.17 for 317 shares. On 08/21/2025 Kayyal received a new restricted stock award of 102,655 shares with vesting beginning 08/21/2025 (25% on 08/15/2026, remainder vesting quarterly over 12 quarters). Also on 08/21/2025 Kayyal was granted a stock option to purchase 206,270 shares at an exercise price of $52.30, exercisable per the stated vesting schedule and expiring 08/21/2035.

Insights

Financial Analyst

TL;DR: Director/CFO received a large option grant and restricted stock award, while several prior unvested RSUs were forfeited.

The grants on 08/21/2025 — a 102,655-share restricted stock award and a 206,270-share stock option at $52.30 — materially increase the officer's potential equity exposure and align compensation with multi-year vesting. The forfeitures on 08/20/2025 removed smaller tranches of previously granted RSUs; the filing states those were forfeited "in connection with the Reporting Person's employment with the Issuer." For investors, the size and multi-year vesting of the new awards imply continued retention incentives without immediate dilution from exercised options.

Compensation/Risk Analyst

TL;DR: Compensation package mixes long-term equity and options with standard graded vesting; prior unvested RSUs were forfeited per employment terms.

The restricted stock award vests 25% after ~1 year then quarterly over 12 quarters, and the option vests 25% after one year then monthly thereafter, consistent with standard retention design. The option strike of $52.30 and the 10-year term to 2035 create a long performance window. The forfeitures reduce short-term owned shares, while the new grants create future upside potential contingent on tenure.

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

OMB APPROVAL

OMB Number:			3235-0287
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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^*

Kayyal Alex

(Last) (First) (Middle)

C/O THE TRADE DESK, INC.

42 NORTH 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)

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

3. Date of Earliest Transaction (Month/Day/Year)
08/20/2025

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	08/20/2025		D		1,002(1)	D	$0	3,447	D
Class A Common Stock	08/20/2025		D		1,838(2)	D	$0	1,609	D
Class A Common Stock	08/20/2025		D		317(3)	D	$59.17(4)	1,292	D
Class A Common Stock	08/21/2025		A		102,655(5)	A	$0	103,947	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
Stock Option (Right to Buy)	$52.3	08/21/2025		A		206,270		(6)	08/21/2035	Class A Common Stock	206,270	$0	206,270	D

Explanation of Responses:

1. The related shares were represented by restricted stock units previously granted to the Reporting Person on February 14, 2025 pursuant to the Issuers Non-Employee Director Compensation Policy as an initial director equity grant that were subject to vesting. In connection with the Reporting Person's employment with the Issuer, the unvested restricted stock units were forfeited.

2. The related shares were represented by restricted stock units previously granted to the Reporting Person on May 27, 2025 pursuant to the Issuers Non-Employee Director Compensation Policy as an annual director equity grant that were subject to vesting. In connection with the Reporting Person's employment with the Issuer, the unvested restricted stock units were forfeited.

3. The related shares were represented by restricted stock units previously granted to the Reporting Person on May 27, 2025 pursuant to the Issuers Non-Employee Director Compensation Policy in lieu of director retainer or meeting fees of $25,000 that were subject to vesting. In connection with the Reporting Person's employment with the Issuer, the unvested restricted stock units were forfeited.

4. This price represents the average closing stock price for a share of the Issuer's Class A Common Stock for forty-five consecutive trading days ending on, and including, the grant date. This price was used to calculate the number of restricted stock units granted.

5. Represents a restricted stock award with a Vesting Commencement Date ("VCD") of August 21, 2025. One-fourth (1/4th) of the granted shares vest on August 15, 2026 and the remainder of the granted shares vest ratably over 12 quarters on each quarterly anniversary thereafter, subject to continued employment with the Issuer through the applicable vesting dates.

6. The option was granted on August 21, 2025. The VCD is August 21, 2025. One-fourth (1/4th) of the shares subject to the option vest on the first anniversary of the VCD, with one forty-eighth (1/48th) of the shares subject to the original grant vesting on each monthly anniversary thereafter, subject to continued employment with the Issuer through the applicable vesting dates.

Remarks:

	/s/ Kelli Faerber, Attorney-in-Fact for Alex Kayyal	08/22/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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