The Trade Desk Announces Approval of All Proposals from the Special Meeting of Stockholders

Rhea-AI Summary

The Trade Desk, Inc. (NASDAQ: TTD) announced the approval of all proposals from its special stockholders meeting on December 22, 2020. The approved proposals pertained to the company’s dual-class structure, including establishing a latest termination date and enhancing corporate governance. A minimum of 66 2/3% of the voting power was required, and the company complied with the “MFW” standard. Lise Buyer, Chair of the Special Committee, expressed gratitude for the substantial support from Class A shareholders, emphasizing that these changes will empower the company to invest and innovate for the long term.

Positive

• All proposals approved by stockholders, enabling future investments and innovation.
• Overwhelming support from Class A shareholders demonstrates confidence in governance changes.

Negative

• None.

The Trade Desk, Inc. (NASDAQ: TTD), a global advertising technology leader, announced that all proposals from the Company’s special meeting of stockholders, held on Tuesday, December 22, 2020, were approved.

The five proposals voted on at today’s meeting related to the Company’s dual class structure, including the establishment of a latest termination date for the structure, as well as other corporate governance enhancements.

Each proposal required the affirmative vote of the holders of at least 66 2/3% of the voting power of the Company’s outstanding shares entitled to vote. The Company adhered to the “MFW” standard that required a majority vote of the Class A holders (Majority of the Minority Approval) as of the October 20, 2020 record date.

These proposals are described in more detail in the Company’s proxy statement filed with the U.S. Securities and Exchange Commission dated October 27, 2020.

“We would like to thank all of the institutions and individuals who took the time to discuss and consider our proposals. We are pleased to have received overwhelming support from the Class A shareholders that voted on the Company’s five proposals,” said Lise Buyer, Director, Chair of the Special Committee, of The Trade Desk. “Implementation of these proposals will help the Company continue to invest in and innovate for the long-term, and build on our industry leadership.”

About The Trade Desk

The Trade Desk^™ is a technology company that empowers buyers of advertising. Through its self-service, cloud-based platform, ad buyers can create, manage, and optimize digital advertising campaigns across ad formats and devices. Integrations with major data, inventory, and publisher partners ensure maximum reach and decisioning capabilities, and enterprise APIs enable custom development on top of the platform. Headquartered in Ventura, CA, The Trade Desk has offices across North America, Europe, and Asia Pacific. To learn more, visit thetradedesk.com or follow us on Facebook, Twitter, LinkedIn and YouTube.

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FAQ

What proposals were approved by The Trade Desk's stockholders on December 22, 2020?

The stockholders approved five proposals related to the company's dual-class structure and corporate governance enhancements.

Did The Trade Desk comply with the MFW standard in its recent meeting?

Yes, The Trade Desk adhered to the MFW standard requiring a majority vote from Class A shareholders.

What is the significance of the proposals approved by The Trade Desk's shareholders?

The approved proposals aim to enhance corporate governance and support long-term investment and innovation.

What is The Trade Desk's stock symbol?

The Trade Desk's stock symbol is TTD.

Who is the Chair of the Special Committee at The Trade Desk?

Lise Buyer is the Director and Chair of the Special Committee at The Trade Desk.