ICE Insider Trades: Surdykowski 10b5-1 Purchase and Sale Reported
Rhea-AI Filing Summary
Intercontinental Exchange, Inc. (ICE) Director and General Counsel Andrew J. Surdykowski reported insider transactions dated 08/26/2025 executed under a Rule 10b5-1 trading plan. The filing shows a purchase of 1,770 shares at $50.01 and a sale of 3,850 shares at $178.33. After these transactions the report lists 46,293 shares beneficially owned. Reported holdings include 37,399 common shares, 3,141 unvested RSUs and 5,753 performance-based RSUs with performance periods noted for future determination. The filing also discloses 83 shares from the Employee Stock Purchase Plan and fully vested employee stock options for 1,770 shares.
Positive
- Transactions executed under a Rule 10b5-1 plan indicating pre-established trading authorization
- Detailed disclosure of holdings including breakdown of common shares, RSUs, PSUs, ESPP shares, and vested options
- Vesting schedules and PSU determination timing disclosed for future transparency
Negative
- Net decrease in reported beneficial ownership after transactions (sale of 3,850 shares versus purchase of 1,770 shares)
- Several performance-based awards have outcomes not yet determined, leaving part of ownership contingent on future results
Insights
TL;DR: Insider executed both purchase and sale under a 10b5-1 plan, leaving a net reduction in reported holdings.
The simultaneous purchase of 1,770 shares at $50.01 and sale of 3,850 shares at $178.33 on the same date is recorded as part of an established Rule 10b5-1 plan, which reduces ambiguity about intent. The filing quantifies current beneficial ownership at 46,293 shares and highlights multiple equity components: unrestricted shares, unvested RSUs (3,141), and vested performance RSUs (5,753) subject to future determinations. The presence of vested options (1,770) and ESPP participation (83 shares) show routine executive equity compensation activity rather than an isolated one-off trade.
TL;DR: Disclosure aligns with governance best practices via 10b5-1 plan use and detailed vesting disclosures.
The report explicitly notes the transactions were effected under a 10b5-1 trading plan effective November 20, 2024, and provides clear breakdowns of stock types and vesting schedules. It discloses timing for PSU determinations and Deal Incentive Award vesting windows, which supports transparency for shareholders reviewing insider activity and executive compensation realization. No amendments or corrections are indicated.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Employee Stock Option (right to buy) Holding | 1,770 | $0.00 | -- |
| Exercise | Common Stock | 1,770 | $50.01 | $89K |
| Sale | Common Stock | 3,850 | $178.33 | $687K |
Footnotes (1)
- This transaction was effected pursuant to a Rule 10b5-1 trading plan which was approved and became effective as of November 20, 2024. Amount of securities beneficially owned includes 83 shares acquired under Intercontinental Exchange, Inc. Employee Stock Purchase Plan on June 30, 2025. The common stock number referred in Table I is an aggregate number and represents 37,399 shares of common stock, 3,141 unvested restricted stock units ("RSUs"), and 5,753 unvested performance based restricted stock units ("PSUs"), for which the performance period has been satisfied. The RSUs and PSUs vest over a three-year period, in which 33.33% of the units vest each year. The satisfaction of the 2023, 2024 and 2025 three-year total shareholder return PSUs and the corresponding number of shares to be issued pursuant to these awards, will not be determined until February 2026, February 2027 and February 2028, respectively, and will be reported at the time of vesting. The satisfaction of the 2024 and 2025 three-year EBITDA PSUs and the corresponding number of shares to be issued pursuant to these awards, will not be determined until February 2027 and February 2028, respectively, and will be reported at the time of vesting. The satisfaction of the performance based restricted stock units granted as Deal Incentive Awards and the corresponding number of shares to be issued pursuant to these awards, will not be determined until December 2026, December 2027 and December 2028 and will be subject to additional time-based vesting conditions and, if applicable, a subsequent one-year holding period. These options are fully vested.
