Nasdaq executive Jeremy Skule sells 1,125 shares

NASDAQ's EVP, CSO reported a sale under a Rule 10b5-1(c) trading plan adopted on May 7, 2026.

Available on EDGAR 09/24/2026 - 04:01 PM EDT Accepted by SEC EDGAR 09/24/2026 - 04:00 PM EDT Learn about SEC filing dates

Rhea-AI Filing Summary

Nasdaq, Inc. EVP, CSO Jeremy Skule sold 1,125 common shares at $95.0000 per share on September 22, 2026. The sale was effected under a Rule 10b5-1(c) trading plan adopted on May 7, 2026. After the sale, the reported position was 100,073 shares or units, representing 35,511 restricted-stock shares or units (9,551 vested), 60,843 shares underlying PSUs (52,817 vested), and 3,719 shares purchased under the issuer’s Employee Stock Purchase Plan.

Insider Trade Summary 10b5-1

Net Seller: 1,125 shares

Net Sell 1 txn

Insider SKULE JEREMY

Role EVP, CSO

Sold 1,125 shs ($107K)

Share of Position Sold 1.1%

Type	Security	Shares	Price	Value
Sale	Common Stock, par value $0.01 per share F1, F2	1,125	$95.00	$107K

Holdings After Transaction: Common Stock, par value $0.01 per share — 100,073 shares (Direct)

Holdings Before and After: Common Stock, par value $0.01 per share, 101,198 to 100,073 shares (Direct)

Footnotes (2)

1. F1. The reported sale was effected pursuant to a Rule 10b5-1(c) trading plan adopted on May 7, 2026.
2. F2. Represents (i) 35,511 shares or units of restricted stock, of which 9,551 are vested, (ii) 60,843 shares of Common Stock underlying PSUs, 52,817 of which are vested, and (iii) 3,719 shares of Common Stock purchased under the Issuer's Employee Stock Purchase Plan.

Key Figures

Common shares sold: 1,125 shares Sale price: $95.0000 per share Reported post-transaction position: 100,073 shares or units +5 more

8 metrics

Common shares sold 1,125 shares Sale on September 22, 2026

Sale price $95.0000 per share Sale on September 22, 2026

Reported post-transaction position 100,073 shares or units After the September 22, 2026 sale

Restricted-stock shares or units 35,511 shares or units 9,551 vested

Vested restricted-stock shares or units 9,551 shares or units Included in the reported post-transaction position

Shares underlying PSUs 60,843 shares 52,817 vested

Vested shares underlying PSUs 52,817 shares Included in the reported post-transaction position

Employee Stock Purchase Plan shares 3,719 shares Purchased under the issuer’s Employee Stock Purchase Plan

Key Terms

Rule 10b5-1(c) trading plan, restricted stock, PSUs, Employee Stock Purchase Plan

4 terms

Rule 10b5-1(c) trading plan regulatory

"pursuant to a Rule 10b5-1(c) trading plan"

A Rule 10b5-1(c) trading plan is a legally defined, pre-set schedule that lets company insiders automatically buy or sell stock at specified times or under set formulas when they are not in possession of undisclosed, sensitive information. Think of it like an automatic payment plan for trades: because the instructions are written in advance, trades under the plan help protect insiders from allegations of trading on secret information and give investors clearer expectations about when insiders will transact, which can affect liquidity and perceived transparency.

restricted stock financial

"shares or units of restricted stock"

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.

PSUs financial

"shares of Common Stock underlying PSUs"

PSUs are company shares promised to employees or executives that only become actual stock if the business hits specific performance targets over a set period. For investors, PSUs matter because they link pay to measurable outcomes — similar to a conditional bonus that converts into ownership — which can influence management decisions, dilution of shares, and signals about confidence in future results.

Employee Stock Purchase Plan financial

"purchased under the Issuer's Employee Stock Purchase Plan"

An employee stock purchase plan is a company program that lets workers buy shares through small payroll deductions, often at a discount to the market price and after a set offering period. Think of it like a workplace savings plan that turns into ownership: it encourages employees to share in the company’s success and can create predictable buying or selling of stock that investors watch because it affects supply, demand and employee incentives.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many shares did NDAQ EVP, CSO Jeremy Skule sell?

Jeremy Skule sold 1,125 Nasdaq, Inc. common shares at $95.0000 per share on September 22, 2026. The sale was effected under a Rule 10b5-1(c) trading plan adopted on May 7, 2026.

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

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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^*

SKULE JEREMY

(Last) (First) (Middle)

151 W. 42ND STREET

(Street)

NEW YORK NEW YORK 10036

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
NASDAQ, INC. [ NDAQ ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/22/2026

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

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

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

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, par value $0.01 per share	09/22/2026		S(1)		1,125	D	$95	100,073(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. The reported sale was effected pursuant to a Rule 10b5-1(c) trading plan adopted on May 7, 2026.

2. Represents (i) 35,511 shares or units of restricted stock, of which 9,551 are vested, (ii) 60,843 shares of Common Stock underlying PSUs, 52,817 of which are vested, and (iii) 3,719 shares of Common Stock purchased under the Issuer's Employee Stock Purchase Plan.

	/s/ Alex Kogan, by power of attorney	09/24/2026
	** 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.
* Form 4: SEC 1474 (03-26)