The Securities and Exchange Commission (SEC) has filed a complaint against Jesse R. Mitchell, alleging illegal insider trading by Mitchell in the securities of The Trade Desk, Inc (TTD).

According to the SEC’s complaint, submitted at the New York Southern District Court on August 20, 2026, from June 2024 to April 2026, Mitchell was TTD’s Senior Director of Financial Planning and Analysis. Through his role, Mitchell received material nonpublic information concerning TTD’s preliminary quarterly earnings results in advance of their public release.

On two occasions, starting shortly after joining TTD, Mitchell took advantage of his advanced knowledge of the information to engage in illegal insider trading in TTD securities, which violated the federal securities laws.

Mitchell’s trading also allegedly violated TTD’s internal policies, which prohibited both:

• trading during specified blackout periods around corporate earnings announcements; and
• trading in TTD options.

The SEC alleges that Mitchell used his advanced knowledge of MNPI concerning TTD’s quarterly earnings to profit in two different ways. First, Mitchell illegally profited from a positive earnings announcement by purchasing TTD common stock to bet that TTD’s share price would increase.

Second, Mitchell illegally profited from a negative earnings announcement by trading options to bet that TTD’s share price would decrease.

The SEC accuses Mitchell of violation of Section 10(b) of the Securities Exchange Act of 1934 (“Exchange Act”) [15 U.S.C. § 78j(b)] and Rule 10b-5 thereunder [17 C.F.R. § 240.10b-5].

The Commission seeks a final judgment:

• permanently enjoining Mitchell from violating the federal securities laws and rules this Complaint alleges he violated by committing or engaging in specified actions or activities relevant to such violations;
• ordering Mitchell to disgorge all ill-gotten gains he received as a result of the violations alleged herein, and to pay prejudgment interest thereon, pursuant to Exchange Act Sections 21(d)(5) and 21(d)(7) [15 U.S.C. §§ 78u(d)(5) and 78u(d)(7)];
• ordering Mitchell to pay civil penalties pursuant to Exchange Act Section 21A [15 U.S.C. § 78u-1];
• permanently prohibiting Mitchell from serving as an officer or director of any company that has a class of securities registered under Exchange Act Section 12 [15 U.S.C. § 78l] or that is required to file reports under Exchange Act Section 15(d) [15 U.S.C. § 78o(d)], pursuant to Exchange Act Section 21(d)(2) [15 U.S.C.§ 78u(d)(2)]; and
• ordering any other and further relief the Court may deem just and proper.