Form 4: Intercontinental Exchange Executive James W. Namkung Reports Stock Sale

James W. Namkung, Chief Accounting Officer of Intercontinental Exchange, Inc., sold 1,206 shares of common stock on March 20, 2025, at a price of $175 per share.

Summary

• On March 20, 2025, James W. Namkung, the Chief Accounting Officer of Intercontinental Exchange, Inc. (ICE), sold 1,206 shares of ICE common stock.
• The sale was executed at a price of $175 per share.
• Following the transaction, Namkung directly owns 13,832 shares of ICE common stock, which includes 10,185 shares of common stock, 1,346 unvested restricted stock units (RSUs), and 2,301 unvested performance-based restricted stock units (PSUs) for which the performance period has been satisfied.
• The RSUs and PSUs vest over a three-year period, with 33.33% of the units vesting each year.
• The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan established on December 5, 2024.
• Future vesting of PSUs related to total shareholder return (TSR) and earnings before interest, taxes, depreciation, and amortization (EBITDA) performance metrics will be determined in February 2026, February 2027 and February 2028 and reported at the time of vesting.
• The satisfaction of performance-based restricted stock units granted as Deal Incentive Awards and the corresponding number of shares to be issued pursuant to these awards, 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 neutral report of an insider stock sale. It doesn't inherently indicate positive or negative sentiment about the company's prospects.

Future Outlook

Future vesting of PSUs related to TSR and EBITDA performance metrics will be determined in February 2026, February 2027 and February 2028 and reported at the time of vesting. The satisfaction of performance-based restricted stock units granted as Deal Incentive Awards and the corresponding number of shares to be issued pursuant to these awards, 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.

Industry Context

Form 4 filings are a routine part of the regulatory landscape for publicly traded companies, providing transparency into the trading activities of company insiders. These filings are closely watched by investors seeking insights into management's perspective on the company's stock.

Comparison to Industry Standards

• Insider trading activity is a common occurrence in publicly listed companies, and Form 4 filings are a standard part of regulatory compliance.
• The use of Rule 10b5-1 trading plans is a widespread practice among corporate executives to avoid accusations of trading on inside information.
• Comparable companies such as Nasdaq, CME Group, and London Stock Exchange Group also have executives who regularly file Form 4s.

Stakeholder Impact

• The stock sale may have a minor impact on shareholders, potentially creating slight downward pressure on the stock price in the short term.
• The transaction does not directly impact employees, customers, suppliers, or creditors.

Next Steps

• Future vesting of PSUs will be determined and reported in February 2026, February 2027 and February 2028.
• The satisfaction of performance-based restricted stock units granted as Deal Incentive Awards and the corresponding number of shares to be issued pursuant to these awards, 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.

Key Dates

Keywords

Intercontinental Exchange, ICE, insider trading, Form 4, stock sale, James W. Namkung, Rule 10b5-1, restricted stock units, performance stock units, chief accounting officer