The Trade Desk Inc. received a formal notice from Nasdaq on March 25 2026 that it was non‑compliant with exchange rules after the resignation of board member Kathryn E. Falberg. Nasdaq requires a majority of independent directors on the board and a minimum of three independent directors on the audit committee and two on the compensation committee; Falberg’s departure left the audit committee short of the required number.
The resignation of Falberg on March 23 and the earlier resignation of Alexander Kayyal on March 19 left the compensation committee short of its required two independent directors. The company had notified Nasdaq of the deficiency on March 24 and was granted a cure period that ends on September 21 2026 to restore compliance.
The Trade Desk has said it will fill the vacancies quickly. It appointed Andrew Vollero as a Class II director and to the audit committee effective April 3, following the resignation of Gokul Rajaram. Vollero brings experience as former CFO of Reddit and Snap, strengthening the board’s independent oversight.
The regulatory action is a procedural compliance issue and does not affect the company’s day‑to‑day operations or financial performance. The board changes and the appointment of Vollero demonstrate the company’s commitment to meeting Nasdaq’s governance requirements and maintaining investor confidence.
The Trade Desk, founded in 2009 and public since 2016, operates as a demand‑side platform in the digital advertising ecosystem. Earlier in September 2025 the company’s shareholders approved amendments to its articles of incorporation to update governance documents.
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