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STOCK TITAN

[Form 4] Nasdaq, Inc. Insider Trading Activity

Filing Impact
(Neutral)
Filing Sentiment
(Negative)
Form Type
4
Rhea-AI Filing Summary

Form: Form 4 filed under Section 16 for NASDAQ, Inc. (NDAQ) reporting person Begley, Charlene T.

On 08/04/2025 the reporting person executed a Transaction Code S (sale) reported on Form 4: 3,000 shares of Nasdaq common stock were sold at a reported price of $96.60 per share. Following the reported transaction the filing shows 46,001 restricted stock units (RSUs) beneficially owned, of which 43,006 are stated as vested as of the filing date. The filer is identified as a Director. The form is signed by Alex Kogan, by power of attorney dated 08/06/2025.

Modulo: Form 4 depositato ai sensi della Sezione 16 per NASDAQ, Inc. (NDAQ) persona segnalante Begley, Charlene T.

Il 08/04/2025 la persona segnalante ha eseguito una operazione con Codice S (vendita) riportata nel Form 4: sono state vendute 3,000 azioni ordinarie di Nasdaq al prezzo indicato di $96.60 per azione. Dopo la transazione riportata, la dichiarazione indica la proprietà beneficiaria di 46,001 unità di azioni vincolate (RSU), delle quali 43,006 risultano maturate alla data del deposito. Il dichiarante è indicato come Direttore. Il modulo è firmato da Alex Kogan, per procura datata 08/06/2025.

Formulario: Formulario 4 presentado bajo la Sección 16 para NASDAQ, Inc. (NDAQ) persona informante Begley, Charlene T.

El 08/04/2025 la persona informante efectuó una transacción con Código S (venta) reportada en el Formulario 4: se vendieron 3,000 acciones ordinarias de Nasdaq a un precio reportado de $96.60 por acción. Tras la transacción reportada, la presentación muestra que posee beneficiariamente 46,001 unidades restringidas de acciones (RSU), de las cuales 43,006 constan como adquiridas (vested) a la fecha de la presentación. El declarante aparece identificado como Director. El formulario está firmado por Alex Kogan, por poder con fecha 08/06/2025.

섵Ӌ: 섹션 16� 따라 NASDAQ, Inc. (NDAQ)� 위해 제출� Form 4, 보고� Begley, Charlene T.

08/04/2025� 보고인은 Form 4� 보고� 거래 코드 S(매도)� 실행했습니다: 보고� 가� $96.60� 나스� 보통� 3,000�� 매도했습니다. 보고� 거래 이후 제출서류에는 보고인이 실질적으� 보유� 46,001개의 제한부 주식 단위(RSU)가 기재되어 있으�, 그중 43,006�� 제출� 기준으로 기득�(vested) 상태� 명시되어 있습니다. 신고인은 이사(پ𳦳ٴǰ)� 확인됩니�. 해당 양식에는 08/06/2025� 위임장을 근거� Alex Kogan� 서명했습니다.

Formulaire: Formulaire 4 déposé en vertu de la Section 16 pour NASDAQ, Inc. (NDAQ) personne déclarante Begley, Charlene T.

Le 08/04/2025, la personne déclarante a effectué une transaction code S (vente) déclarée sur le Formulaire 4 : 3,000 actions ordinaires Nasdaq ont été vendues au prix déclaré de $96.60 par action. Après la transaction déclarée, le dossier indique que la déclarant détient bénéficiairement 46,001 unités d'actions restreintes (RSU), dont 43,006 sont indiquées comme acquises (vested) à la date du dépôt. Le déclarant est identifié comme Directeur. Le formulaire est signé par Alex Kogan, par procuration 岹é 08/06/2025.

Formular: Form 4 eingereicht gemäß Section 16 für NASDAQ, Inc. (NDAQ) meldende Person Begley, Charlene T.

Am 08/04/2025 führte die meldende Person eine im Form 4 gemeldete Transaktion mit Code S (Verkauf) durch: 3,000 Aktien der Nasdaq-Stammaktien wurden zu einem gemeldeten Preis von $96.60 je Aktie verkauft. Nach der gemeldeten Transaktion weist die Einreichung aus, dass 46,001 Restricted Stock Units (RSUs) wirtschaftlich gehalten werden, von denen 43,006 zum Zeitpunkt der Einreichung als vested angegeben sind. Der Melder ist als Direktor aufgeführt. Das Formular ist unterschrieben von Alex Kogan, per Vollmacht datiert 08/06/2025.

Positive
  • Timely Section 16 disclosure: Form 4 filed and signed by POA on 08/06/2025
  • Clear reporting of RSU holdings: 46,001 RSUs reported, with 43,006 vested
Negative
  • Director sale reported: 3,000 shares sold on 08/04/2025 (Transaction Code S)
  • None of the sale rationale disclosed: filing does not state reason or plan describing the sale

Insights

TL;DR: Director Begley reported a routine sale of 3,000 Nasdaq shares at $96.60; 46,001 RSUs remain, 43,006 vested.

This Form 4 discloses a sale (code S) of 3,000 shares on 08/04/2025 at $96.60 per share and reports continued beneficial ownership of 46,001 RSUs, 43,006 vested. The filing is standard for Section 16 reporting and identifies the reporting person as a director. No additional transactions, option exercises, or derivative positions are reported in this filing. Timing and signature (POA signed 08/06/2025) are included, indicating procedural completion of the disclosure.

TL;DR: Disclosure appears routine: a director sale was reported and the filing documents sizable remaining RSU holdings and vested shares.

The Form 4 shows the reporting person holds 46,001 RSUs after the reported transaction, with 43,006 vested as of the filing date, and confirms the individual’s status as a director. The sale of 3,000 shares is recorded under transaction code S. The document is signed by an authorized representative by power of attorney on 08/06/2025. Based on the filing alone, this appears to be a routine insider disclosure rather than an extraordinary governance event.

Modulo: Form 4 depositato ai sensi della Sezione 16 per NASDAQ, Inc. (NDAQ) persona segnalante Begley, Charlene T.

Il 08/04/2025 la persona segnalante ha eseguito una operazione con Codice S (vendita) riportata nel Form 4: sono state vendute 3,000 azioni ordinarie di Nasdaq al prezzo indicato di $96.60 per azione. Dopo la transazione riportata, la dichiarazione indica la proprietà beneficiaria di 46,001 unità di azioni vincolate (RSU), delle quali 43,006 risultano maturate alla data del deposito. Il dichiarante è indicato come Direttore. Il modulo è firmato da Alex Kogan, per procura datata 08/06/2025.

Formulario: Formulario 4 presentado bajo la Sección 16 para NASDAQ, Inc. (NDAQ) persona informante Begley, Charlene T.

El 08/04/2025 la persona informante efectuó una transacción con Código S (venta) reportada en el Formulario 4: se vendieron 3,000 acciones ordinarias de Nasdaq a un precio reportado de $96.60 por acción. Tras la transacción reportada, la presentación muestra que posee beneficiariamente 46,001 unidades restringidas de acciones (RSU), de las cuales 43,006 constan como adquiridas (vested) a la fecha de la presentación. El declarante aparece identificado como Director. El formulario está firmado por Alex Kogan, por poder con fecha 08/06/2025.

섵Ӌ: 섹션 16� 따라 NASDAQ, Inc. (NDAQ)� 위해 제출� Form 4, 보고� Begley, Charlene T.

08/04/2025� 보고인은 Form 4� 보고� 거래 코드 S(매도)� 실행했습니다: 보고� 가� $96.60� 나스� 보통� 3,000�� 매도했습니다. 보고� 거래 이후 제출서류에는 보고인이 실질적으� 보유� 46,001개의 제한부 주식 단위(RSU)가 기재되어 있으�, 그중 43,006�� 제출� 기준으로 기득�(vested) 상태� 명시되어 있습니다. 신고인은 이사(پ𳦳ٴǰ)� 확인됩니�. 해당 양식에는 08/06/2025� 위임장을 근거� Alex Kogan� 서명했습니다.

Formulaire: Formulaire 4 déposé en vertu de la Section 16 pour NASDAQ, Inc. (NDAQ) personne déclarante Begley, Charlene T.

Le 08/04/2025, la personne déclarante a effectué une transaction code S (vente) déclarée sur le Formulaire 4 : 3,000 actions ordinaires Nasdaq ont été vendues au prix déclaré de $96.60 par action. Après la transaction déclarée, le dossier indique que la déclarant détient bénéficiairement 46,001 unités d'actions restreintes (RSU), dont 43,006 sont indiquées comme acquises (vested) à la date du dépôt. Le déclarant est identifié comme Directeur. Le formulaire est signé par Alex Kogan, par procuration 岹é 08/06/2025.

Formular: Form 4 eingereicht gemäß Section 16 für NASDAQ, Inc. (NDAQ) meldende Person Begley, Charlene T.

Am 08/04/2025 führte die meldende Person eine im Form 4 gemeldete Transaktion mit Code S (Verkauf) durch: 3,000 Aktien der Nasdaq-Stammaktien wurden zu einem gemeldeten Preis von $96.60 je Aktie verkauft. Nach der gemeldeten Transaktion weist die Einreichung aus, dass 46,001 Restricted Stock Units (RSUs) wirtschaftlich gehalten werden, von denen 43,006 zum Zeitpunkt der Einreichung als vested angegeben sind. Der Melder ist als Direktor aufgeführt. Das Formular ist unterschrieben von Alex Kogan, per Vollmacht datiert 08/06/2025.

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*
BEGLEY CHARLENE T

(Last) (First) (Middle)
151 W. 42ND STREET

(Street)
NEW YORK NY 10036

(City) (State) (Zip)
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)
3. Date of Earliest Transaction (Month/Day/Year)
08/04/2025
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
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 08/04/2025 S 3,000 D $96.6 46,001(1) 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 46,001 RSUs granted pursuant to Nasdaq's Equity Incentive Plan, of which 43,006 shares are vested as of the date hereof.
/s/ Alex Kogan, by power of attorney 08/06/2025
** 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.

FAQ

Who filed the Form 4 for NDAQ?

The Form 4 was filed for Begley, Charlene T., who is identified as a Director.

What transaction is reported on the NDAQ Form 4?

A sale of 3,000 shares of Nasdaq common stock on 08/04/2025 at a reported price of $96.60 per share (Transaction Code S).

How many shares or awards does the reporting person own after the transaction?

The filing reports 46,001 RSUs beneficially owned following the transaction, of which 43,006 are vested.

When was the Form 4 signed and by whom?

The form shows signature by Alex Kogan, by power of attorney dated 08/06/2025.

Does the filing disclose any derivative or option transactions?

No. Table II (derivative securities) contains no entries in this filing.
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