NDAQ (NASDAQ: NDAQ) files Form 144 listing 5,093 restricted shares with MS broker

Rhea-AI Filing Summary

NDAQ files a Form 144 notice of proposed resale of restricted common stock through a broker-dealer. The filing lists proposed sales handled by Morgan Stanley Smith Barney LLC and specifies proposed lot dates and share counts: 1,499 shares dated 04/03/2025, 2,095 shares dated 04/01/2026, and 1,499 shares dated 04/03/2026. The filing names the securities as Restricted Stock and identifies Morgan Stanley Smith Barney LLC as the broker-dealer.

Insights

Securities Compliance Attorney

Routine Rule 144 resale notice listing small lots of restricted shares via a broker-dealer.

The filing lists proposed resales of restricted common stock in multiple lots with specific trade dates and share counts: 1,499, 2,095, and 1,499. It names Morgan Stanley Smith Barney LLC as the executing broker-dealer.

Because this is a procedural Rule 144 notice, it does not itself consummate sales or state proceeds. Subsequent transaction reports or broker confirmations would show whether and when these resales occur.

Key Figures

Lot 1 shares: 1,499 shares Lot 2 shares: 2,095 shares Lot 3 shares: 1,499 shares +2 more

5 metrics

Lot 1 shares 1,499 shares Proposed sale dated <date>04/03/2025</date>

Lot 2 shares 2,095 shares Proposed sale dated <date>04/01/2026</date>

Lot 3 shares 1,499 shares Proposed sale dated <date>04/03/2026</date>

Aggregate listed here 5,093 shares Sum of the three listed lots in the Form 144 excerpt

Broker-dealer Morgan Stanley Smith Barney LLC Named executing broker-dealer in the filing

Key Terms

Restricted Stock, Form 144, Rule 144

3 terms

Restricted Stock financial

"Securities To Be Sold | Common | Restricted Stock | Issuer"

Shares granted to an individual that carry limits on transfer or sale until certain conditions are met, such as staying with the company for a set time or hitting performance targets. Think of them as a locked gift that gradually opens; for investors they matter because they affect how many shares may enter the market later, signal management incentives and potential dilution, and reveal confidence in future company performance.

Form 144 regulatory

"CONTENT METADATA: form_type: 144"

Form 144 is a document that investors must file with the government when they plan to sell a large number of shares of a company's stock. It helps ensure transparency so everyone knows how many shares are being sold and when, which can impact the stock's price.

Rule 144 regulatory

"Implied by filing type and resale notice language"

Rule 144 is a U.S. securities regulation that sets conditions under which restricted or insider-held shares can be legally resold to the public, such as required holding periods, availability of public information, limits on how much can be sold at once, and certain filing requirements. For investors it matters because it determines when previously locked-up shares can enter the market — like a release valve that can increase supply, affect share price, and signal insider intent.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/18/2026 - 04:26 PM Learn about SEC filing dates

FAQ

What does NDAQ's Form 144 filing mean?

It notifies the SEC of an intended resale of restricted common stock through a broker-dealer. The filing lists proposed sale dates and share counts and names the executing broker-dealer but does not confirm completed sales.

How many NDAQ restricted shares are listed in the Form 144?

The Form 144 lists three proposed lots totaling 5,093 shares across specified dates. The individual lots are 1,499, 2,095, and 1,499 on the dates shown in the filing.

Who is the broker handling the proposed NDAQ sales?

The filing names Morgan Stanley Smith Barney LLC as the broker-dealer for the proposed resales. The broker-dealer is listed with its address and appears as the executing intermediary for the lots.

Does the Form 144 show proceeds or completion of the sales?

No. The Form 144 is a notice of proposed resale and does not state proceeds or that sales have completed. Completion would be reflected in later trade confirmations or subsequent SEC filings.

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

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	5093	471688.20	565540798	05/18/2026	NASDAQ

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	04/03/2025	Restricted Stock	Issuer			1499	04/03/2025	Not Applicable
Common	04/01/2026	Restricted Stock	Issuer			2095	04/01/2026	Not Applicable
Common	04/03/2026	Restricted Stock	Issuer			1499	04/03/2026	Not Applicable

* 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

Nothing to Report

144: Remarks and Signature

Remarks

Date of Notice

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)