Form 4: ICE Executive's RSU Vesting and New Award

Intercontinental Exchange's Global Head of Clearing & CRO, Elizabeth Kathryn King, reported the vesting of restricted stock units, associated tax withholding, and a new RSU award.

Summary

• Elizabeth Kathryn King, Global Head of Clearing & CRO at Intercontinental Exchange, Inc. (ICE), reported changes in her beneficial ownership.
• On February 10, 2026, 417 shares of common stock were disposed of at $169.48 per share to cover tax withholding obligations related to the vesting of restricted stock units.
• These 417 shares were part of 1,047 RSUs that vested on February 10, 2026, originating from an award granted on February 10, 2025.
• An additional 3,640 restricted stock units were acquired on February 10, 2026, as a new award, vesting over three years.
• Following these transactions, King beneficially owns 25,383 shares of common stock, which includes 13,896 shares of common stock, 5,734 unvested RSUs, and 5,753 performance-based restricted stock units (PSUs) with satisfied performance periods.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a neutral to slightly positive event, reflecting routine executive compensation and retention, with no significant new information impacting the company's operational or financial outlook.

Positives

• Receipt of a new award of 3,640 restricted stock units demonstrates continued compensation and retention of a key executive.
• Vesting of previously awarded restricted stock units indicates the executive's continued tenure and the company's fulfillment of compensation agreements.

Negatives

• Disposal of 417 shares to cover tax obligations reduces the executive's direct shareholding, though this is a standard practice for RSU vesting.

Future Outlook

Future vesting events for restricted stock units and performance-based restricted stock units are scheduled annually through February 2029, with the satisfaction of performance conditions for PSUs to be determined in February 2027, 2028, and 2029.

Industry Context

StockSavvy.ai notes that executive compensation through restricted stock units and performance-based units is a common practice in the financial services industry, aligning executive incentives with long-term company performance and shareholder value. This filing reflects a routine compensation event for a key executive at a major financial market infrastructure provider.

Stakeholder Impact

• Shareholders: The executive's continued receipt of equity compensation aligns her interests with long-term shareholder value.
• Employees: Reflects standard executive compensation practices within the company.

Next Steps

• Future vesting of 2,094 shares from the February 10, 2025 RSU award on February 10, 2027, and February 10, 2028.
• Future vesting of the 3,640 RSUs awarded on February 10, 2026, on each anniversary of the award date for three years.
• Determination and reporting of 2024, 2025, and 2026 TSR PSUs and EBITDA PSUs in February 2027, February 2028, and February 2029, respectively.

Key Dates

Recommendation

This Form 4 filing details routine executive compensation events, including RSU vesting, tax withholding, and a new RSU grant. These are standard occurrences and do not provide new material information that would warrant a change in investment recommendation for Intercontinental Exchange, Inc. The transactions reflect ongoing executive retention and incentive alignment, which are generally positive but not catalysts for a 'buy' or 'sell' decision.

Keywords

Intercontinental Exchange, ICE, Elizabeth Kathryn King, Form 4, Restricted Stock Units, RSU, Executive Compensation, Insider Transaction, Stock Award, Tax Withholding