[144] Intercontinental Exchange Inc. SEC Filing

Rhea-AI Filing Summary

Intercontinental Exchange (ICE) filed a Form 144 reporting a proposed sale of 150,000 common shares with an aggregate market value of $27,889,500.00. The sale is to be executed through Morgan Stanley Smith Barney LLC, Executive Financial Services on the NYSE with an approximate sale date of 08/12/2025. The 150,000 shares were acquired as Founders Shares on 11/16/2005 and represent approximately 0.026% of the reported 572,423,088 shares outstanding, indicating this filing relates to a relatively small portion of total equity.

The filing also discloses recent related sales during the past three months: 68,315 shares sold by JEFFREY C SPRECHER on 06/04/2025 for $12,245,600.38 and 150,000 shares sold by CONTINENTAL POWER EXCHANGE, INC. on 06/04/2025 for $26,883,000.00, totaling 218,315 shares and $39,128,600.38 in gross proceeds. The Form 144 format and the 10b5-1 labels indicate these transactions are being disclosed under standard regulatory procedures.

Positive

• Regulatory compliance: The transaction is disclosed on Form 144, following required SEC procedures.
• Established acquisition history: The 150,000 shares were acquired as Founders Shares on 11/16/2005, indicating longstanding ownership.
• Use of 10b5-1 plans: Recent sales are labeled as 10b5-1, suggesting pre-arranged trading plans were used for dispositions.

Negative

• Ongoing insider dispositions: Related-party sales in the past three months total 218,315 shares for gross proceeds of $39,128,600.38 (06/04/2025), showing continued insider selling activity.

Insights

Financial Analyst

TL;DR: Insider sale notice for 150,000 ICE shares (~$27.9M); de minimis relative to outstanding stock but adds to recent insider dispositions.

The Form 144 documents a proposed disposition of 150,000 common shares valued at $27,889,500.00 with an approximate execution date of 08/12/2025 and execution through Morgan Stanley Smith Barney LLC on the NYSE. Relative to the reported 572,423,088 shares outstanding, the block is very small (~0.026%), so the immediate market impact is likely limited. However, combined with the June 4, 2025 10b5-1 sales totaling 218,315 shares and $39,128,600.38 in gross proceeds, the filing signals an ongoing pattern of planned dispositions by related parties that investors may note when assessing insider activity trends.

Corporate Governance Expert

TL;DR: Form 144 and 10b5-1 disclosures show formal compliance with insider sale rules; long-term founder holdings are being partially liquidated.

The filing shows the shares to be sold were acquired as Founders Shares on 11/16/2005, indicating long-term ownership. Use of a broker and explicit 10b5-1 labels for recent sales suggests these dispositions follow established trading-plan frameworks and are being reported under required disclosure rules. From a governance perspective, the documentation is appropriate; the size of the current proposed sale is small versus total outstanding shares, though cumulative insider-related sales in early June 2025 were material in dollar terms ($39,128,600.38).

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
COMMON	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	150000	27889500.00	572423088	08/12/2025	NYSE

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	11/16/2005	Founders Shares	Issuer			150000	11/16/2005	N/A

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
10b5-1 Sales for JEFFREY C SPRECHER 5660 New Northside Drive Atlanta GA 30328	COMMON	06/04/2025	68315	12245600.38
10b5-1 Sales for CONTINENTAL POWER EXCHANGE, INC. 5660 New Northside Drive Atlanta GA 30328	COMMON	06/04/2025	150000	26883000.00

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does ICE's Form 144 report?

The Form 144 reports a proposed sale of 150,000 common shares valued at $27,889,500.00 with an approximate sale date of 08/12/2025 on the NYSE.

Who acquired the shares and when were they acquired?

The shares to be sold were acquired as Founders Shares on 11/16/2005; the amount listed is 150,000 shares.

Were there any related insider sales recently for ICE?

Yes. On 06/04/2025, JEFFREY C SPRECHER sold 68,315 shares for $12,245,600.38 and CONTINENTAL POWER EXCHANGE, INC. sold 150,000 shares for $26,883,000.00.

What broker is handling the proposed sale?

The proposed sale lists Morgan Stanley Smith Barney LLC, Executive Financial Services (1 New York Plaza, 8th Floor, New York, NY) as the broker.

How large is the proposed sale relative to outstanding shares?

The proposed 150,000 shares compare to 572,423,088 shares outstanding, approximately 0.026% of outstanding common shares as reported in the filing.