Form 4: Trade Desk Director Kathryn Falberg Receives Restricted Stock Award

Kathryn Falberg, a director at Trade Desk, Inc., was granted a restricted stock award in lieu of director retainer and meeting fees.

Summary

• Kathryn Falberg, a director of Trade Desk, Inc., received a grant of 90 shares of Class A Common Stock on April 15, 2025.
• The shares were granted as a restricted stock award under the company's 2016 Equity Incentive Plan.
• The shares vest in full on the date of the Issuer's next annual meeting of stockholders, contingent upon continuous service as a member of the audit committee.
• The award was issued in lieu of director retainer and meeting fees of $50,000, prorated from the grant date to the next annual meeting.
• The price of $63.73 per share was calculated based on the average closing stock price for the 45 consecutive trading days ending on the grant date.
• Following the transaction, Falberg directly owns 97,000 shares of Class A Common Stock and indirectly owns 50,000 shares through a family trust.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, which is generally viewed neutrally. The grant aligns director interests with shareholders, which is a positive.

Positives

• The grant of restricted stock aligns the director's interests with those of the shareholders.
• Using the 45-day average closing stock price to calculate the number of restricted stock awards granted provides a fair valuation.

Industry Context

This type of equity compensation is common for directors of publicly traded companies to align their interests with shareholders.

Comparison to Industry Standards

• Director compensation packages vary widely across the industry, but equity grants are a common component.
• Comparing the size of this grant to those of directors at similar-sized ad tech companies like PubMatic or Magnite would provide further context.
• The vesting schedule tied to continued service is a standard practice to ensure director engagement.

Stakeholder Impact

• The grant of restricted stock aligns the director's interests with those of the shareholders, potentially leading to better corporate governance and decision-making.

Next Steps

• The shares will vest on the date of the Issuer's next annual meeting of stockholders, subject to the Reporting Person's continuous service as a member of the audit committee.

Key Dates

Keywords

Trade Desk, Director, Kathryn Falberg, Restricted Stock Award, Class A Common Stock, Equity Incentive Plan, Beneficial Ownership, Form 4