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

Christopher Scott Edmonds, President of Fixed Income & Data at Intercontinental Exchange, sold 601 shares of common stock at $147.73 per share on January 15, 2025, under a pre-arranged trading plan.

Summary

• On January 15, 2025, Christopher Scott Edmonds, President of Fixed Income & Data at Intercontinental Exchange, Inc. (ICE), sold 601 shares of common stock at a price of $147.73 per share.
• The transaction was executed under a Rule 10b5-1 trading plan, which was approved and became effective on March 4, 2024.
• Following the transaction, Edmonds beneficially owns 12,922 shares of ICE common stock.
• This total includes 91 shares acquired through the Intercontinental Exchange, Inc. Employee Stock Purchase Plan on December 31, 2024.
• The reported holdings also include 1,615 shares of common stock, 1,018 unvested restricted stock units (RSUs), and 10,289 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 satisfaction of the 2024 PSUs tied to EBITDA and the corresponding number of shares to be issued will be determined in February 2025 and reported at the time of vesting.
• 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 pursuant to these awards, will not be determined until February 2025, February 2026 and February 2027, respectively, and will be reported at the time of vesting.
• The satisfaction of the 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 sentiment is neutral as it reports a routine stock sale under a pre-arranged plan. It doesn't inherently indicate positive or negative sentiment about the company's future.

Future Outlook

The vesting and satisfaction of performance-based stock units will be determined and reported in future periods, specifically in February 2025, February 2026, February 2027, December 2026, December 2027 and December 2028.

Industry Context

Executive stock sales are a common occurrence, and sales under 10b5-1 plans are generally viewed as less impactful since they are pre-arranged. However, investors often monitor insider transactions for signals about a company's prospects.

Comparison to Industry Standards

• Comparing this transaction to similar filings from executives at Nasdaq, CME Group, or London Stock Exchange Group would provide context on the typical scale and frequency of insider trading activity in the exchange industry.
• Reviewing the 10b5-1 plans of executives at these comparable companies could reveal differences in their strategies for managing and diversifying their holdings.

Stakeholder Impact

• The stock sale may have a minor impact on shareholders due to the small volume of shares sold.
• The transaction does not appear to directly affect employees, customers, suppliers, or creditors.

Key Dates