Form 4: Intercontinental Exchange CFO Warren Gardiner Reports Stock Transactions
SEC Form 4 Filing
Warren Gardiner, CFO of Intercontinental Exchange, reports the withholding of shares to cover tax obligations related to vesting restricted stock units.
Summary
- Warren Gardiner, the Chief Financial Officer of Intercontinental Exchange, Inc. (ICE), filed a Form 4 detailing changes in beneficial ownership of the company's stock.
- The report indicates that shares were withheld to satisfy tax obligations related to the vesting of performance-based restricted stock units (PSUs).
- Specifically, 1,511 shares were withheld on February 12, 2025, at a price of $166.94, and 537 shares were withheld on February 13, 2025, at a price of $166.56.
- These shares relate to PSUs granted in February 2023 and February 2022, respectively, which vested based on the achievement of certain EBITDA performance targets.
- Following these transactions, Gardiner directly owns 21,312 shares of ICE common stock, which includes 13,023 shares of common stock, 4,936 unvested restricted stock units (RSUs), and 3,353 unvested performance based restricted stock units (PSUs).
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing stock transactions, with no inherent positive or negative sentiment.
Future Outlook
The satisfaction of future performance-based restricted stock units will be determined and reported at the time of vesting in February 2026, February 2027, and February 2028.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates the CFO's stock transactions related to vested equity compensation.
Stakeholder Impact
- The filing provides transparency to shareholders regarding insider transactions.
Key Dates
| Date | Description |
|---|---|
| 02/03/2023 | Date of grant of performance based restricted stock units, vesting of which is conditioned upon the achievement of certain 2023 earnings before interest, taxes, depreciation, and amortization ('EBITDA') performance versus pre-established targets. |
| 02/04/2022 | Date of grant of performance based restricted stock units, vesting of which is conditioned upon the achievement of certain 2022 earnings before interest, taxes, depreciation, and amortization ('EBITDA') performance versus pre-established targets. |
| 02/12/2025 | Transaction date: 1,511 shares withheld to satisfy tax obligations related to vesting of restricted stock units. |
| 02/13/2025 | Transaction date: 537 shares withheld to satisfy tax obligations related to vesting of restricted stock units. |
| 02/14/2025 | Date of filing of the Form 4. |
Keywords
Form 4, Intercontinental Exchange, ICE, Warren Gardiner, CFO, Beneficial Ownership, Restricted Stock Units, EBITDA, Tax Withholding, Stock Transactions
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