---
schema_version: "secwatch.filing_event.v1"
accession: "0001671933-25-000148"
form_type: "8-K"
ticker: "TTD"
cik: "0001671933"
company_name: "Trade Desk, Inc."
filed_at: "2025-12-15T23:59:59+00:00"
generated_at: "2026-05-16T13:13:34.219343+00:00"
event_type: "regulatory"
sentiment: "neutral"
materiality_score: 0.25
calibrated_materiality_score: 0.25
confidence: "high"
source: SEC EDGAR
---

# Nasdaq reprimands Trade Desk for inadvertent voting-rights rule violation; matter closed

## Summary
- Nasdaq staff issued a letter of reprimand on Dec 9, 2025 for violating Rule 5640 over Class B conversion extension.
- Company does not concur with violation but will not appeal; Nasdaq considered matter closed without further action.
- No impact on listing of Class A common stock; dual-class structure unchanged; amendment remains in effect.
- Stockholders approved the amendment on Sept 16, 2025; Nasdaq contacted company on Oct 15, 2025.

## SEC filing metadata
- accession: 0001671933-25-000148
- form_type: 8-K
- ticker: TTD
- cik: 0001671933
- company_name: Trade Desk, Inc.
- filed_at: 2025-12-15T23:59:59+00:00
- event_type: regulatory
- sentiment: neutral
- materiality_score: 0.25
- calibrated_materiality_score: 0.25
- confidence: high
- sec_items: 3.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1671933/000167193325000148/0001671933-25-000148-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1671933/000167193325000148/ttd-20251209.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001671933-25-000148
- JSON: https://secwatch.observer/filing/0001671933-25-000148.json
- Plain text: https://secwatch.observer/filing/0001671933-25-000148.txt

## Source-grounded claims
- claim_id: 2e0559b51c72839e2a36dcd0d2254e5f04077d02
  claim: Trade Desk, Inc. received a nasdaq deficiency notice notice regarding other (rules 5640).
  evidence_excerpt: edule 14A dated July 24, 2025. On October 15, 2025, the Nasdaq Staff contacted the Company regarding the Articles Amendment and application of the Voting Rights Rule thereto. The Nasdaq Staff concluded that it was appropriate to close the matter with the Letter issued in accordance with Nasdaq Rule 5810(c)(4). Accordingly, with the issuance of the Letter, the matter is closed by the Nasdaq Staff, with no further action to be taken on its part. Although the Company does not concur that the Articles Amendment violated the Voting Rights Rule, it welcomes Nasdaq’s closing of this matter and does n
  evidence_url: https://www.sec.gov/Archives/edgar/data/1671933/000167193325000148/0001671933-25-000148-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.