Form 4: Trade Desk CEO Green Reports Significant Stock Transfers

Trade Desk CEO Jeffrey Green reported significant transfers and conversions of Class A and Class B common stock, primarily involving family trusts and a foundation.

Summary

• Jeffrey Terry Green, President and CEO, Director, and 10% Owner of Trade Desk, Inc. (TTD), reported changes in his beneficial ownership.
• On December 3, 2025, 167,307 shares of Class B Common Stock held indirectly by the Jeff Green Trust were converted into 167,307 shares of Class A Common Stock.
• Following this conversion, the Jeff Green Trust indirectly beneficially owns 253,700 shares of Class A Common Stock and 29,405,209 shares of Class B Common Stock.
• On December 3, 2025, 250,000 shares of Class A Common Stock were transferred as a gift from the Jeff Green Trust to the Jeff T. Green Family Foundation.
• After this gift, the Jeff Green Trust indirectly beneficially owns 3,700 shares of Class A Common Stock.
• The Jeff T. Green Family Foundation acquired 250,000 shares of Class A Common Stock via gift and now indirectly beneficially owns 920,901 shares of Class A Common Stock.
• Mr. Green directly owns 285,857 shares of Class A Common Stock.
• Additionally, 12,666,670 shares of Class B Common Stock are held indirectly by various family trusts over which Mr. Green exercises investment and voting control.
• Each share of Class B Common Stock is convertible into one share of Class A Common Stock at the option of the holder, with no expiration date or additional consideration.

Sentiment

Score: 7

Explanation: The filing details internal transfers and conversions of shares by the CEO to family trusts and a foundation, indicating long-term planning rather than market sales, which is generally a neutral to slightly positive signal.

Positives

• The transactions primarily involve internal transfers and conversions between trusts and a family foundation, rather than open market sales, indicating long-term planning and continued beneficial ownership by the CEO.
• The conversion of Class B to Class A stock increases the liquidity potential of those shares, although they remain within controlled entities.

Future Outlook

na

Industry Context

na

Related Party Transactions

• Transfer of 250,000 shares of Class A Common Stock from the Jeff Green Trust to the Jeff T. Green Family Foundation.
• Beneficial ownership of shares held by the Jeff Green Trust, Jeff T. Green Family Foundation, and various family trusts, all controlled by Mr. Green.

Stakeholder Impact

• Shareholders: Minimal direct impact as these are internal transfers and conversions, not open market sales or purchases that would affect market supply or demand.

Key Dates

Recommendation

The Form 4 details internal transfers and conversions of shares by the CEO to family trusts and a foundation. These transactions are not market sales and do not fundamentally alter the company's operational or financial outlook. Therefore, this filing alone does not warrant a change in investment recommendation, suggesting a 'hold' position is appropriate.

Keywords

TTD, Trade Desk, Jeffrey Green, Form 4, insider ownership, stock transfer, beneficial ownership, Class A Common Stock, Class B Common Stock, trust, foundation, corporate governance