Form 4: Director Equity Changes at The Trade Desk
Statement of Changes in Beneficial Ownership
Gokul Rajaram's Form 4 filing details changes in his beneficial ownership of Trade Desk Inc. Class A Common Stock, including forfeiture of unvested awards and indirect ownership through a family trust.
Summary
- This filing reports changes in beneficial ownership of Trade Desk, Inc. (TTD) Class A Common Stock by Gokul Rajaram.
- Rajaram, who is listed as a Director, had 1,226 shares acquired (D) on April 3, 2026, with a transaction code indicating a disposition.
- These shares were part of restricted stock awards granted on May 27, 2025, under the Non-Employee Director Compensation Policy, which were subject to vesting based on service.
- In connection with Rajaram's resignation from the board, the unvested restricted stock awards were forfeited.
- Following these transactions, Rajaram directly owns 0 shares and indirectly owns 2,450 shares.
- Additionally, Rajaram indirectly beneficially owns 29,861 shares held by the Rajaram Family Trust, where he is a co-trustee with shared investment and voting control.
Sentiment
Score: 5
Explanation: StockSavvy.ai views this as a neutral filing, as it reports standard insider transactions and ownership changes without indicating significant positive or negative performance indicators for the company.
Negatives
- Forfeiture of unvested restricted stock awards due to resignation from the board.
Future Outlook
No specific future outlook or guidance is provided in this Form 4 filing, which primarily details past transactions and ownership changes.
Industry Context
StockSavvy.ai notes that Form 4 filings are standard disclosures for insiders and directors, providing transparency on stock transactions and beneficial ownership. This filing specifically reflects a common scenario of equity award forfeiture upon departure from a board position.
Management Changes
| Role | Previous Person | New Person | Effective Date | Reason |
|---|---|---|---|---|
| Director | Gokul Rajaram | 04/03/2026 | Resignation from the Issuer's board of directors. |
Related Party Transactions
- Gokul Rajaram, as a co-trustee of the Rajaram Family Trust, has shared investment and voting control over shares held by the Trust, indicating a related party relationship for beneficial ownership reporting.
Stakeholder Impact
- Shareholders: The forfeiture of unvested awards by a departing director is a standard event and is unlikely to have a significant direct impact on share price, but it reflects a change in board composition.
- Employees: No direct impact mentioned.
- Customers: No direct impact mentioned.
- Suppliers: No direct impact mentioned.
- Creditors: No direct impact mentioned.
Key Dates
| Date | Description |
|---|---|
| 05/27/2025 | Date restricted stock awards were granted to Reporting Person. |
| 04/03/2026 | Transaction Date for disposition of shares and forfeiture of unvested awards. |
| 04/07/2026 | Date of signature for the filing. |
Keywords
Form 4, SEC Filing, Beneficial Ownership, Trade Desk, TTD, Gokul Rajaram, Director, Restricted Stock Awards, Forfeiture, Family Trust
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