Form 4: Intercontinental Exchange SVP Douglas Foley Reports Stock Sale
SEC Form 4 Filing
Douglas Foley, SVP of HR & Administration at Intercontinental Exchange, Inc., reported the sale of 3,200 shares of common stock at $140 per share on July 2, 2024, according to a Form 4 filing with the SEC.
Summary
- On July 2, 2024, Douglas Foley, SVP of HR & Administration at Intercontinental Exchange, Inc. (ICE), sold 3,200 shares of common stock at a price of $140 per share.
- The transaction was executed under a pre-arranged Rule 10b5-1 trading plan established on December 8, 2023.
- Following the transaction, Foley beneficially owns 20,010 shares of ICE common stock, including 16,421 shares of common stock and 3,589 unvested performance-based restricted stock units.
- The reported holdings also include 98 shares acquired through the Intercontinental Exchange, Inc. Employee Stock Purchase Plan on June 28, 2024.
- The vesting of performance-based restricted stock units is contingent upon the satisfaction of certain performance metrics related to EBITDA and total shareholder return over multiple years, with final determinations and reporting occurring at the time of vesting.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing reporting a stock sale by an executive. It is neutral in tone and does not contain information that would significantly impact investor sentiment.
Future Outlook
The vesting of performance-based restricted stock units is contingent upon future performance and will be reported at the time of vesting.
Industry Context
This filing is a routine disclosure of stock transactions by a company executive, which is a common occurrence in publicly traded companies. It provides transparency into the trading activities of insiders and is required by SEC regulations.
Stakeholder Impact
- The stock sale by an executive may have a minor impact on shareholder sentiment, but is unlikely to have a significant effect on other stakeholders.
Key Dates
| Date | Description |
|---|---|
| 2023-12-08 | Date of approval and effective date of Rule 10b5-1 trading plan. |
| 2024-06-28 | Date of acquisition of 98 shares under the Employee Stock Purchase Plan. |
| 2024-07-02 | Date of stock sale transaction. |
| 2024-07-03 | Date of signature on the Form 4 filing. |
| 2025-02 | Date when the satisfaction of the 2024 performance based restricted units tied to EBITDA and the corresponding number of shares to be issued pursuant to these awards, will be determined. |
| 2026-02 | Date when the satisfaction of the 2023 total shareholder return performance based restricted stock units and the corresponding number of shares to be issued pursuant to these awards, will be determined. |
| 2027-02 | Date when the satisfaction of the 2024 total shareholder return performance based restricted stock units and the corresponding number of shares to be issued pursuant to these awards, will be determined. |
| 2026-12 | Date when 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 be determined. |
| 2027-12 | Date when 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 be determined. |
| 2028-12 | Date when 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 be determined. |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.