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Nasdaq’s Jeremy Skule sells 1,125 shares at $94.13

After the sale, the EVP, CSO's reported position included restricted stock, PSU-linked shares and Employee Stock Purchase Plan shares.

(Neutral)

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Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.

Form Type
4

Rhea-AI Filing Summary

Nasdaq, Inc. (NDAQ) EVP, CSO Jeremy Skule sold 1,125 shares of common stock at $94.13 per share on October 12, 2026. The sale was effected under a Rule 10b5-1(c) trading plan adopted on May 7, 2026. After the sale, he reported 97,686 shares or units, including restricted stock, shares underlying PSUs and shares purchased through the issuer’s Employee Stock Purchase Plan.

Insider SKULE JEREMY
Role EVP, CSO
Sold 1,125 shs ($106K)
Type Security Shares Price Value
Sale Common Stock, par value $0.01 per share F1, F2 1,125 $94.13 $106K
Holdings After Transaction: Common Stock, par value $0.01 per share — 97,686 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) 34,249 shares or units of restricted stock, of which 10,570 are vested, (ii) 59,718 shares of Common Stock underlying PSUs, 51,692 of which are vested, and (iii) 3,719 shares of Common Stock purchased under the Issuer's Employee Stock Purchase Plan.
Shares sold 1,125 shares October 12, 2026
Sale price $94.13 per share October 12, 2026
Shares or units following transaction 97,686 shares or units Reported after the sale
Restricted stock 34,249 shares or units 10,570 were vested
Vested restricted stock 10,570 shares or units Included in reported restricted stock
Shares underlying PSUs 59,718 shares 51,692 were vested
Vested shares underlying PSUs 51,692 shares Included in shares underlying PSUs
Employee Stock Purchase Plan shares 3,719 shares Shares of Common Stock purchased under the plan
Rule 10b5-1(c) trading plan regulatory
"pursuant to a Rule 10b5-1(c) trading plan adopted on May 7, 2026"
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, and at what price?

Jeremy Skule sold 1,125 shares at $94.13 per share on October 12, 2026. The sale was effected under a Rule 10b5-1(c) trading plan adopted on May 7, 2026.

What made up Jeremy Skule's reported NDAQ holdings after the sale?

His reported post-sale holdings of 97,686 shares or units represented 34,249 shares or units of restricted stock, of which 10,570 were vested; 59,718 shares of Common Stock underlying PSUs, 51,692 of which were vested; and 3,719 shares of Common Stock purchased under the Issuer's Employee Stock Purchase Plan.

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

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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)
10/12/2026
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 share10/12/2026S(1)1,125D$94.1397,686(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)
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. Represents (i) 34,249 shares or units of restricted stock, of which 10,570 are vested, (ii) 59,718 shares of Common Stock underlying PSUs, 51,692 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 attorney10/14/2026
** 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)

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