Form 4: Intercontinental Exchange Executive Christopher Edmonds Sells 602 Shares Under 10b5-1 Plan

Christopher Scott Edmonds, President of Fixed Income & Data at Intercontinental Exchange, Inc., sold 602 shares of common stock at $162.81 per share on September 18, 2024, under a pre-arranged trading plan.

Summary

• On September 18, 2024, Christopher Scott Edmonds, President of Fixed Income & Data at Intercontinental Exchange, Inc. (ICE), sold 602 shares of common stock at a price of $162.81 per share.
• The transaction was executed under a Rule 10b5-1 trading plan that was approved and became effective on March 4, 2024.
• Following the transaction, Edmonds beneficially owns 14,034 shares of ICE common stock, which includes 2,727 shares of common stock, 1,018 unvested restricted stock units (RSUs), and 10,289 unvested performance-based restricted stock units (PSUs).
• The RSUs and PSUs vest over a three-year period, with 33.33% of the units vesting each year.
• The satisfaction of the 2024 PSUs tied to EBITDA and the corresponding number of shares to be issued will be determined in February 2025.
• The satisfaction of the 2022, 2023 and 2024 total shareholder return performance based restricted stock units and the corresponding number of shares to be issued will be determined in February 2025, February 2026 and February 2027, respectively.
• The satisfaction of the performance based restricted stock units granted as Deal Incentive Awards and the corresponding number of shares to be issued will not be determined until December 2026, December 2027 and December 2028 and will be subject to additional time-based vesting conditions and, if applicable, a subsequent one-year holding period.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing related to an executive's stock sale under a pre-arranged trading plan. It doesn't contain information that would significantly impact investor sentiment positively or negatively.

Future Outlook

The vesting of RSUs and PSUs will occur over a three-year period, and the satisfaction of performance-based units will be determined in future periods.

Industry Context

Executive stock sales are a common occurrence and are often planned in advance to comply with insider trading regulations. The use of a 10b5-1 plan allows insiders to sell shares at predetermined times and prices, avoiding accusations of trading on non-public information.

Comparison to Industry Standards

• It is common for executives at publicly traded companies like Intercontinental Exchange to utilize 10b5-1 trading plans to manage their stock sales.
• These plans are designed to comply with SEC regulations and prevent accusations of insider trading.
• Comparable companies such as Nasdaq, CME Group, and London Stock Exchange Group also see similar filings from their executives.

Key Dates