Form 4: Director Falberg Forfeits TTD Shares Upon Resignation
Insider Transaction Report
Kathryn E. Falberg, a director at The Trade Desk, Inc., forfeited unvested restricted stock awards totaling 1,946 shares of Class A Common Stock upon her resignation from the board.
Summary
- Kathryn E. Falberg, a director at The Trade Desk, Inc. (TTD), reported the disposal of 1,946 shares of Class A Common Stock on March 23, 2026.
- The disposal was a forfeiture of unvested restricted stock awards in connection with her resignation from the Issuer's board of directors.
- The forfeited shares included 1,226 shares from an annual director equity award, 212 shares from awards in lieu of director retainer and meetings fees, 296 shares from awards in lieu of audit committee fees, and 212 shares from awards in lieu of compensation committee fees.
- All forfeited awards were unvested restricted stock awards, with an effective value of $0 to the reporting person upon forfeiture.
- The original restricted stock awards were granted on May 27, 2025, pursuant to the Issuer's Non-Employee Director Compensation Policy, with a reference price of $59.17 per share used to calculate the number of shares granted for some awards.
Sentiment
Score: 5
Explanation: StockSavvy.ai views this as a neutral event, reflecting a standard corporate governance change rather than a significant operational or financial shift for The Trade Desk.
Negatives
- A director, Kathryn E. Falberg, resigned from the board of directors.
- The reporting person forfeited 1,946 unvested restricted stock awards upon resignation.
Future Outlook
NA
Industry Context
StockSavvy.ai notes that director resignations and the associated forfeiture of unvested equity awards are standard occurrences in corporate governance. This event reflects a routine change in board composition rather than an unusual operational or financial development for The Trade Desk.
Management Changes
| Role | Previous Person | New Person | Effective Date | Reason |
|---|---|---|---|---|
| Director | Kathryn E. Falberg | NA | 03/23/2026 | Resignation from the board of directors. |
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Director Compensation Policy Application | Forfeiture of unvested restricted stock awards in accordance with the Issuer's Non-Employee Director Compensation Policy upon director resignation. | 03/23/2026 | Standard application of existing policy, no change to policy itself. |
Stakeholder Impact
- Shareholders will note a change in the composition of the board of directors due to the resignation of Kathryn E. Falberg.
Key Dates
| Date | Description |
|---|---|
| 05/27/2025 | Date restricted stock awards were previously granted to Kathryn E. Falberg. |
| 03/23/2026 | Transaction date for the forfeiture of Class A Common Stock due to resignation. |
| 03/25/2026 | Signature date of the reporting person's attorney-in-fact. |
Recommendation
holdThe filing reports a routine insider transaction related to a director's resignation and the forfeiture of unvested equity. This event does not provide new material information to warrant a change in investment thesis for The Trade Desk, suggesting a 'hold' recommendation.
Keywords
The Trade Desk, TTD, SEC Form 4, Insider Transaction, Director Resignation, Stock Forfeiture, Restricted Stock Awards, Corporate Governance
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