Nasdaq awards director Borje Ekholm 1,449 stock units

Each of the 1,449 awarded units represents a contingent right to one common share and vests in full on June 10, 2027.

Available on EDGAR 11/04/2026 - 04:05 PM EST Accepted by SEC EDGAR 11/04/2026 - 04:05 PM EST Learn about SEC filing dates

Rhea-AI Filing Summary

Nasdaq, Inc. director Borje Ekholm received an award of 1,449 restricted stock units on November 2, 2026, under the company's Equity Incentive Plan. Each unit represents a contingent right to receive one common share, and all of the units vest on June 10, 2027. His reported position after the award was 146,682 shares, comprising 1,449 unvested RSUs and 145,233 common shares acquired before his board service began on November 1, 2026.

Insider Trade Summary

Grant/Award: 1,449 shares

Grant/Award 1 txn

Insider EKHOLM BORJE

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock, par value $0.01 per share F1, F2	1,449	$0.00	$0.00

Holdings After Transaction: Common Stock, par value $0.01 per share — 146,682 shares (Direct)

Holdings Before and After: Common Stock, par value $0.01 per share, 145,233 to 146,682 shares (Direct)

Footnotes (2)

1. F1. Represents an award of Restricted Stock Units (RSUs) granted pursuant to the Issuer's Equity Incentive Plan. Each unit represents a contingent right to receive one share of the Issuer's Common Stock. The entirety of the RSUs vest on June 10, 2027.
2. F2. Represents (i) 1,449 unvested RSUs granted pursuant to the Issuer's Equity Incentive Plan and (ii) 145,233 shares of Common Stock acquired prior to the reporting person's board service beginning on November 1, 2026.

Key Figures

Restricted stock units awarded: 1,449 RSUs Reported shares following award: 146,682 shares Common shares acquired before board service: 145,233 shares +1 more

4 metrics

Restricted stock units awarded 1,449 RSUs Awarded November 2, 2026; all vest June 10, 2027

Reported shares following award 146,682 shares Position reported after the November 2, 2026 award

Common shares acquired before board service 145,233 shares Acquired before board service began November 1, 2026

RSU vesting date June 10, 2027 Date all awarded RSUs vest

Key Terms

Restricted Stock Units (RSUs), Equity Incentive Plan, contingent right

3 terms

Restricted Stock Units (RSUs) financial

"award of Restricted Stock Units (RSUs)"

Restricted stock units (RSUs) are a type of company promise to give employees shares of stock in the future, usually after certain conditions like working for a set time. They are like a gift promised today that you receive later, which can become valuable if the company's stock price goes up. RSUs matter because they are a way companies reward employees and can be a significant part of compensation.

Equity Incentive Plan financial

"granted pursuant to the Issuer's Equity Incentive Plan"

An equity incentive plan is a program that gives employees, executives or directors the right to receive company stock or options to buy stock as part of their pay. Think of it as offering slices of future company profit to motivate people to boost long‑term performance; for investors it matters because it can align employee goals with shareholder value but also increases the number of shares outstanding, which can dilute existing ownership.

contingent right financial

"contingent right to receive one share"

FAQ

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

When do NDAQ director Borje Ekholm's RSUs vest?

All 1,449 RSUs awarded to Borje Ekholm vest on June 10, 2027. Each unit represents a contingent right to receive one share of Nasdaq common stock.

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

Form 4 Insider Transactions: What Each Field Means →

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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).

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^*

EKHOLM BORJE

(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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
11/02/2026

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	11/02/2026		A(1)		1,449	A	$0	146,682(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. Represents an award of Restricted Stock Units (RSUs) granted pursuant to the Issuer's Equity Incentive Plan. Each unit represents a contingent right to receive one share of the Issuer's Common Stock. The entirety of the RSUs vest on June 10, 2027.

2. Represents (i) 1,449 unvested RSUs granted pursuant to the Issuer's Equity Incentive Plan and (ii) 145,233 shares of Common Stock acquired prior to the reporting person's board service beginning on November 1, 2026.

	/s/ Alex Kogan, by power of attorney	11/04/2026
	** 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)