Cunningham Andrea Lee 4
4 · Trade Desk, Inc. · Filed Apr 3, 2026
Research Summary
AI-generated summary of this filing
Trade Desk (TTD) Director Andrea Cunningham Receives Stock Awards
What Happened Andrea Cunningham, a Trade Desk (TTD) director, was granted restricted stock awards and options as non-employee director compensation. On 2026-04-01 and 2026-04-03 she acquired a total of 48 restricted shares (17 @ $25.79 and 31 @ $25.57) valued at about $1,231, and received derivative awards (options) covering 90 shares (32 @ $13.93 and 58 @ $13.81) with a Black‑Scholes/valuation of about $1,247. Combined value of the grants shown on the Form 4 is approximately $2,478. These were grants (acquisitions), not open‑market buys or sales.
Key Details
- Transaction dates and values:
- 2026-04-01: 17 restricted shares at $25.79 (≈ $438) and 32 derivative/share‑option units at $13.93 (≈ $446).
- 2026-04-03: 31 restricted shares at $25.57 (≈ $793) and 58 derivative/share‑option units at $13.81 (≈ $801).
- Shares owned after the transactions: not disclosed in the provided filing excerpt.
- Notable footnotes:
- Restricted stock awards granted under the Issuer’s 2025 Equity Incentive Plan and/or per the Non‑Employee Director Compensation Policy; vest in full on the date of the Issuer’s next annual meeting of stockholders, subject to the Reporting Person’s continuous service in specified committee roles.
- Derivative awards are options under the Issuer’s 2025 Incentive Award Plan; Black‑Scholes/average‑price methods were used to value awards and calculate share counts.
- Some awards were issued in lieu of director retainer/meeting fees (prorated amounts referenced, e.g., $9,500 and $5,000).
- Filing timeliness: Form filed 2026-04-03 for transactions on 2026-04-01 and 2026-04-03 — no late filing is indicated in the provided data.
Context
- These transactions are compensation grants (A = Award/Grant). The derivative items represent granted options (not exercises), and vesting is tied to continued board/committee service and the next annual meeting.
- Grants issued as compensation are routine for non‑employee directors and do not by themselves indicate buying or selling sentiment by the insider.
Insider Transaction Report
Form 4
Cunningham Andrea Lee
Director
Transactions
- Award
Class A Common Stock
[F1][F2][F3]2026-04-01$25.79/sh+17$438→ 5,052 total - Award
Class A Common Stock
[F4][F3][F5]2026-04-03$25.57/sh+31$793→ 5,083 total - Award
Stock Option (Right to Buy)
[F7][F8][F6]2026-04-01$13.93/sh+32$446→ 32 totalExercise: $21.98Exp: 2036-04-01→ Class A Common Stock (32 underlying) - Award
Stock Option (Right to Buy)
[F7][F10][F9]2026-04-03$13.81/sh+58$801→ 58 totalExercise: $22.05Exp: 2036-04-03→ Class A Common Stock (58 underlying)
Footnotes (10)
- [F1]Grant of restricted stock award under the Issuer's 2025 Equity Incentive Plan. The shares vest in full on the date of the Issuer's next annual meeting of stockholders, all subject to the Reporting Person's continuous service as a member of the compensation committee immediately prior to such date.
- [F10]These stock options were issued to the Reporting Person pursuant to the Issuer's Non-Employee Director Compensation Policy in lieu of director retainer and meeting fees of $9,500 prorated from the date of grant to the date of the Issuer's next annual meeting of stockholders.
- [F2]This restricted stock award was issued to the Reporting Person pursuant to the Issuer's Non-Employee Director Compensation Policy in lieu of director retainer and meeting fees of $5,000, prorated from the date of grant to the date of the Issuer's next annual meeting of stockholders.
- [F3]This price represents the average closing stock price for a share of the Issuer's Class A Common Stock for forty-five consecutive trading days ending on, and including, the grant date. This price was used to calculate the number of restricted stock awards granted.
- [F4]Grant of restricted stock award under the Issuer's 2025 Equity Incentive Plan. The shares vest in full on the date of the Issuer's next annual meeting of stockholders, all subject to the Reporting Person's continuous service as chairperson of the nominating and corporate governance committee immediately prior to such date.
- [F5]This restricted stock award was issued to the Reporting Person pursuant to the Issuer's Non-Employee Director Compensation Policy in lieu of director retainer and meeting fees of $9,500, prorated from the date of grant to the date of the Issuer's next annual meeting of stockholders.
- [F6]Grant of option to purchase Class A Common Stock under the Issuer's 2025 Incentive Award Plan. The shares subject to the option vest in full on the date of the Issuer's next annual meeting of stockholders, all subject to the Reporting Person's continuous service as a member of the compensation committee immediately prior to such date.
- [F7]This price represents the Black-Scholes value of an option using the average closing stock price for a share of the Issuer's Class A Common Stock for forty-five consecutive trading days ending on, and including, the grant date. This price was used to calculate the number of shares subject to the option granted.
- [F8]These stock options were issued to the Reporting Person pursuant to the Issuer's Non-Employee Director Compensation Policy in lieu of director retainer and meeting fees of $5,000 prorated from the date of grant to the date of the Issuer's next annual meeting of stockholders.
- [F9]Grant of option to purchase Class A Common Stock under the Issuer's 2025 Incentive Award Plan. The shares subject to the option vest in full on the date of the Issuer's next annual meeting of stockholders, all subject to the Reporting Person's continuous service as chairperson of the nominating and corporate governance committee immediately prior to such date.
Signature
/s/ Kelli Faerber, Attorney-in-Fact for Andrea Cunningham|2026-04-03