STOCK TITAN

NASDAQ, INC. (NDAQ) EVP Jeremy Skule sells 2,250 shares in Rule 10b5-1 trade

(Moderate)
(Negative)
Form Type
4

Rhea-AI Filing Summary

NASDAQ, INC. executive Jeremy Skule (EVP, CSO) reported a sale of 2,250 shares of common stock on August 10, 2026 at a weighted average price of $94.75 per share, executed under a Rule 10b5-1(c) trading plan. Following the transaction, he reported 102,323 shares or units in various forms of equity awards and purchased stock.

Positive

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Negative

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Insider SKULE JEREMY
Role EVP, CSO
Sold 2,250 shs ($213K)
Type Security Shares Price Value
Sale Common Stock, par value $0.01 per share F1, F2, F3 2,250 $94.75 $213K
Holdings After Transaction: Common Stock, par value $0.01 per share — 102,323 shares (Direct)
Footnotes (3)
  1. F1. The reported sale was effected pursuant to a Rule 10b5-1(c) trading plan adopted on May 7, 2026.
  2. F2. The price reported in this box is a weighted average price. These shares were sold in multiple transactions at prices ranging from $94.50 to $95.00, inclusive. The reporting person undertakes to provide to the Issuer, any of its security holders, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
  3. F3. Represents (i) 35,529 shares or units of restricted stock, of which 9,569 are vested, (ii) 63,075 shares of Common Stock underlying PSUs, 55,049 of which are vested, and (iii) 3,719 shares of Common Stock purchased under the Issuer's Employee Stock Purchase Plan.
Shares sold 2,250 shares Common stock sale on August 10, 2026
Weighted average sale price $94.75 per share Weighted average across multiple sale trades
Sale price range $94.50 to $95.00 per share Prices of individual trades within reported sale
Total holdings after transaction 102,323 shares or units Equity position following August 10, 2026 sale
Restricted stock/units 35,529 shares or units Includes 9,569 vested restricted shares or units
Performance share units 63,075 shares Includes 55,049 vested PSUs
ESPP shares 3,719 shares Shares purchased under Employee Stock Purchase Plan
Rule 10b5-1(c) trading plan regulatory
"The reported sale was effected 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.
weighted average price financial
"The price reported in this box is a weighted average price."
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
performance share units financial
"63,075 shares of Common Stock underlying PSUs, 55,049 of which are vested"
Performance share units are a type of company stock award given to employees that depend on the company meeting specific goals or targets. If these goals are achieved, the employee receives shares or the value of shares; if not, they may receive little or no compensation. This aligns employees’ interests with the company's success and encourages performance that benefits investors.
Employee Stock Purchase Plan financial
"3,719 shares of Common Stock 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.

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

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FAQ

What did NDAQ executive Jeremy Skule report in this Form 4 transaction?

Jeremy Skule reported selling 2,250 shares of NASDAQ, INC. common stock. The sale occurred on August 10, 2026 at a weighted average price of $94.75 per share, as part of his disclosed equity holdings activity.

At what prices were the NDAQ shares sold by Jeremy Skule?

The 2,250 shares of NDAQ common stock were sold at prices ranging from $94.50 to $95.00 per share. The reported $94.75 figure is a weighted average across multiple transactions within that price range.

Was the NDAQ share sale by Jeremy Skule under a Rule 10b5-1 plan?

Yes. The filing states the sale was effected under a Rule 10b5-1(c) trading plan adopted on May 7, 2026. Such plans allow pre-arranged trading, reducing the significance of trade timing as an informational signal.

How many NDAQ shares and units does Jeremy Skule hold after this sale?

After the sale, Jeremy Skule reported holdings totaling 102,323 shares or units. These include restricted stock, performance share units, and shares purchased under the Employee Stock Purchase Plan, reflecting his remaining equity interest in NASDAQ, INC.

What types of NDAQ equity awards are included in Jeremy Skule’s reported holdings?

His post-transaction position includes 35,529 restricted shares or units, 63,075 performance share units (PSUs), and 3,719 shares purchased under the Employee Stock Purchase Plan, with a portion of the restricted stock and PSUs already vested.

How many of Jeremy Skule’s NDAQ equity awards are vested?

Of his reported awards, 9,569 restricted shares or units are vested, and 55,049 PSUs are vested. These vested amounts are part of the larger totals of restricted stock and performance share units disclosed in the filing.
SEC Form 4
FORM 4UNITED 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)
Director10% Owner
XOfficer (give title below)Other (specify below)
EVP, CSO
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
08/10/2026
6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(A) or (D)Price
Common Stock, par value $0.01 per share08/10/2026S(1)2,250D$94.75(2)102,323(3)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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount 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. The price reported in this box is a weighted average price. These shares were sold in multiple transactions at prices ranging from $94.50 to $95.00, inclusive. The reporting person undertakes to provide to the Issuer, any of its security holders, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
3. Represents (i) 35,529 shares or units of restricted stock, of which 9,569 are vested, (ii) 63,075 shares of Common Stock underlying PSUs, 55,049 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 attorney08/12/2026
** Signature of Reporting PersonDate
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)