GRANT JAY R 4

What Happened
Jay R. Grant, Chief Legal Officer of Trade Desk (TTD), had a total of 6,994 shares withheld to satisfy tax withholding on partially vested restricted stock awards. The filing shows four withholding transactions on 2026-02-15 at $25.81 per share, totaling $180,515 (1,457 shares = $37,605; 1,948 = $50,278; 1,514 = $39,076; 2,075 = $53,556). These are disposals recorded to cover tax obligations, not open-market sell orders.

Key Details

• Transaction date: 2026-02-15; filing date: 2026-02-18 (Form 4 covering the Feb 15 activity).
• Price per share: $25.81; total shares withheld: 6,994; total value: $180,515.
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Footnotes: Each disposal was a withholding election to satisfy tax obligations on partial vesting of Restricted Stock Awards granted on 4/26/2022, 4/24/2023, 4/23/2024, and 4/15/2025. (Transaction code F = tax withholding.)
• No indication in the excerpt of a 10b5-1 plan or a late filing flag.

Context
Withholding shares to cover taxes on vesting is a common, routine administrative action and differs from a voluntary open-market sale. These transactions reduce the insider’s share count but are generally done to meet tax obligations when restricted shares vest, not necessarily a signal of bullish or bearish intent.