The repricing is a retention tool for employees, not a signal of fundamental change. Monitor the next quarterly filing for any material increase in stock-based compensation expense or changes in diluted share count. The clawback provision suggests management expects some option exercises or departures before April 2027.
Price Chart
Executive Summary
Trade Desk effected an option repricing on October 19, 2026, reducing the exercise price of certain underwater stock options (excluding CEO Jeff Green's performance options) to $12.26 per share, the closing price on that date. The repricing was approved by stockholders at a special meeting with 441,097,211 votes in favor and 232,477,009 against. The repricing includes a clawback provision: if a service provider terminates (except without cause) or exercises before April 19, 2027, the exercise price reverts to the original. This is a routine compensatory arrangement aimed at retention and motivation; no officer departures or appointments occurred.
Key Facts
- Option repricing effective October 19, 2026, reducing exercise price of underwater options to $12.26 (the closing price on that date).
- Repricing excludes incentive stock options and CEO Jeff Green's market-based performance stock options granted in October 2021 and September 2026.
- Stockholders approved the repricing at a special meeting: 441,097,211 for, 232,477,009 against, 299,747 abstain.
- Clawback provision: exercise price reverts to original if service terminates (except without cause) or option is exercised before April 19, 2027.
- No officer departures, appointments, or changes in board composition reported.
Financial Impact
No direct financial impact disclosed; the repricing does not increase share overhang or involve new cash outlay. The new exercise price is $12.26 per share.
Risk Factors
- If the stock price remains below $12.26, the repricing may not achieve its retention objective.
- Potential shareholder dilution if options are exercised at the reduced price, though the filing states no increase in overhang.
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001671933-26-000108 |
| Document: 0001671933-26-000108-index-headers.html | 0001671933-26-000108 |
| Document: 0001671933-26-000108-index.html | 0001671933-26-000108 |
| Document: 0001671933-26-000108.txt | 0001671933-26-000108 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 23, 2026 4d ago | Institutional Cluster | $13.00 $12.77 | ▲ +1.77% | ▲ +2.48% | $12.70 (+2.31%) |
Oct 20, 2026 7d ago | 8-K | $12.65 $12.59 | ▼ −0.47% | ▼ −1.00% | $12.70 (+0.40%) |
Oct 7, 2026 20d ago | DEFA14A | $12.34 $12.08 | ▼ −2.11% | ▼ −2.71% | $12.70 (+2.92%) |
Oct 7, 2026 20d ago | SC 13G | $12.09 $12.34 | ▲ +2.07% | ▲ +2.49% | $12.70 (+5.05%) |
Oct 5, 2026 22d ago | SC 13G/A | $11.98 $11.92 | ▼ −0.50% | ▼ −1.05% | $12.70 (+6.01%) |
Sep 18, 2026 5w ago | DEF 14A | $13.92 $13.88 | ▼ −0.29% | ▼ −1.84% | $12.70 (−8.76%) |
Sep 4, 2026 7w ago | 8-K | $14.43 $14.02 | ▼ −2.84% | ▼ −2.29% | $12.70 (−11.99%) |
Jul 13, 2026 15w ago | 8-K | $19.79 $18.94 | ▼ −4.30% | ▼ −4.65% | $12.70 (−35.83%) |
Jun 26, 2026 17w ago | Court Ruling | $18.65 $18.08 | ▼ −3.06% | ▼ −3.83% | $12.70 (−31.90%) |
Jun 9, 2026 20w ago | 8-K | $19.29 $18.90 | ▼ −2.02% | ▼ −3.72% | $12.70 (−34.16%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Create a free account Live analysis, Telegram alerts, watchlists and the MCP server for subscribers