Intercontinental Exchange director executes pre-approved 10b5-1 sale of 610 ICE shares

Rhea-AI Filing Summary

Insider sale under a pre-established plan: Intercontinental Exchange director Martha A. Tirinnanzi sold 610 shares of ICE common stock on 08/22/2025 at $179.76 per share under a Rule 10b5-1 trading plan that became effective May 23, 2025. The transaction reduced her beneficial holdings to 3,519 units, composed of 2,045 shares of common stock and 1,474 restricted stock units.

The restricted stock units are scheduled to vest on the one-year anniversary of the grant date, May 16, 2026. The sale was reported on a Form 4 and was executed pursuant to the pre-approved trading plan; the filing was signed by an attorney-in-fact on behalf of the reporting person.

Insights

Securities Analyst

TL;DR: Routine 10b5-1 sale by a director; modest reduction in holdings, no new disclosure of material events.

The reported sale of 610 shares at $179.76 under an approved Rule 10b5-1 plan is a standard liquidity transaction and appears pre-scheduled rather than opportunistic. Post-transaction beneficial ownership totals 3,519 units, including 1,474 RSUs that do not vest until May 16, 2026, which limits near-term dilution or transferability. For investors, this filing provides transparency on insider liquidity but does not, by itself, indicate a change in corporate outlook or governance. Impact is neutral absent additional context.

Corporate Governance Expert

TL;DR: Transaction aligns with compliance best practices; use of 10b5-1 plan reduces regulatory risk.

The sale executed pursuant to an effective 10b5-1 plan (effective May 23, 2025) demonstrates adherence to insider trading compliance frameworks and provides the reporting person an affirmative defense under Rule 10b5-1. The structure—partial sale of freely held shares while retaining 2,045 shares plus 1,474 RSUs—signals continued ownership alignment with shareholders. This is a routine governance disclosure with limited material impact.

Insider Trade Summary

Net Seller: 610 shares ($109,654)

Net Sell 1 txn

Insider Tirinnanzi Martha A

Role Director

Sold 610 shs ($110K)

Type	Security	Shares	Price	Value
Sale	Common Stock	610	$179.76	$110K

Holdings After Transaction: Common Stock — 3,519 shares (Direct)

Footnotes (1)

1. This transaction was effected pursuant to a Rule 10b5-1 trading plan which was approved and became effective as of May 23, 2025. The common stock number referred in Table 1 is an aggregate number and represents 2,045 shares of common stock and 1,474 restricted stock units of the Issuer. The restricted stock units vest on the one-year anniversary of the grant date, which is May 16, 2026.

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Tirinnanzi Martha A

(Last) (First) (Middle)

5660 NEW NORTHSIDE DRIVE

(Street)

ATLANTA GA 30328

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Intercontinental Exchange, Inc. [ ICE ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
08/22/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	08/22/2025		S		610(1)	D	$179.76	3,519(2)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. This transaction was effected pursuant to a Rule 10b5-1 trading plan which was approved and became effective as of May 23, 2025.

2. The common stock number referred in Table 1 is an aggregate number and represents 2,045 shares of common stock and 1,474 restricted stock units of the Issuer. The restricted stock units vest on the one-year anniversary of the grant date, which is May 16, 2026.

	/s/ Octavia N. Spencer, Attorney-in-fact	08/26/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did ICE director Martha Tirinnanzi sell in the Form 4 filing?

The filing reports a sale of 610 shares of ICE common stock on 08/22/2025 at $179.76 per share.

Was the sale part of a 10b5-1 trading plan for ICE (symbol ICE)?

Yes. The transaction was effected pursuant to a Rule 10b5-1 trading plan approved and effective as of May 23, 2025.

How many ICE shares does the reporting person own after the transaction?

Following the reported transaction the reporting person beneficially owns 3,519 units, comprising 2,045 shares and 1,474 restricted stock units.

When do the restricted stock units (RSUs) referenced in the Form 4 vest?

The 1,474 restricted stock units vest on the one-year anniversary of the grant date, which is May 16, 2026.

Who signed the Form 4 filing for Martha Tirinnanzi?

The Form 4 was signed by an attorney-in-fact, Octavia N. Spencer, on behalf of the reporting person.