[Form 4] Intercontinental Exchange Inc. Insider Trading Activity

Rhea-AI Filing Summary

Intercontinental Exchange director Farooqui Duriya M reported a sale of 2,036 shares of ICE common stock on 08/27/2025 at a price of $178.34 per share. The sale was effected pursuant to a Rule 10b5-1 trading plan that was approved and became effective on May 28, 2025. Following the reported transaction, the reporting person beneficially owns an aggregate of 14,299 common stock economic interests, consisting of 12,966 shares of common stock and 1,333 restricted stock units; the restricted stock units vest on the one-year anniversary of the grant date, May 16, 2026. The Form 4 was signed by an attorney-in-fact, Octavia N. Spencer, on 08/29/2025.

Insights

Securities Analyst

TL;DR Director sold a modest number of shares under a pre-existing 10b5-1 plan; remaining holdings include vested shares and RSUs vesting in 2026.

The sale of 2,036 shares at $178.34 was completed under a Rule 10b5-1 plan, which limits interpretation as opportunistic insider timing because trades follow an approved plan. The post-transaction beneficial ownership reported is 14,299 economic interests, comprised of 12,966 shares and 1,333 restricted stock units that vest on May 16, 2026. Transaction size is small relative to typical director holdings for a large-cap issuer, and no options or derivative activity were reported. The filing is routine disclosure of an insider sale rather than a corporate event.

Corporate Governance Expert

TL;DR Director sale executed under a 10b5-1 plan provides procedural compliance and reduces governance concern about opportunistic trading.

The Form 4 explicitly indicates the trade was pursuant to a 10b5-1 plan effective May 28, 2025, which demonstrates use of an affirmative defense for scheduled trades. The disclosure identifies the reporting person as a director and quantifies remaining beneficial ownership, including time-limited restricted stock units vesting May 16, 2026. The signature by an attorney-in-fact is properly provided. From a governance perspective, the filing documents compliance with Section 16 reporting requirements and shows no other material changes in holdings or derivative positions.

Insider Trade Summary

Net Seller: 2,036 shares ($363,100)

Net Sell 1 txn

Insider Farooqui Duriya M

Role Director

Sold 2,036 shs ($363K)

Type	Security	Shares	Price	Value
Sale	Common Stock	2,036	$178.34	$363K

Holdings After Transaction: Common Stock — 14,299 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 28, 2025. The common stock number referred in Table 1 is an aggregate number and represents 12,966 shares of common stock and 1,333 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^*

Farooqui Duriya M

(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)
08/27/2025

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	08/27/2025		S		2,036(1)	D	$178.34	14,299(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 28, 2025.

2. The common stock number referred in Table 1 is an aggregate number and represents 12,966 shares of common stock and 1,333 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	08/29/2025
	** 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.