Form 4: NASDAQ Director Alfred W. Zollar Receives Significant RSU Award

NASDAQ, Inc. Director Alfred W. Zollar reported the acquisition of 4,491 Restricted Stock Units (RSUs) as part of the company's Equity Incentive Plan, increasing his total beneficial ownership to 53,784 shares.

Summary

• Alfred W. Zollar, a Director of NASDAQ, Inc. (NDAQ), acquired 4,491 shares of common stock on June 11, 2025.
• These shares represent an award of Restricted Stock Units (RSUs) granted under the Issuer's Equity Incentive Plan, with a reported price of $0.00 per unit, indicating a grant rather than a purchase.
• Each RSU represents a contingent right to receive one share of NASDAQ's Common Stock.
• The entirety of these 4,491 RSUs is scheduled to vest on June 11, 2026.
• Following this transaction, Mr. Zollar's total beneficial ownership in NASDAQ, Inc. stands at 53,784 shares.
• This total beneficial ownership comprises 51,242 RSUs (of which 46,751 were already vested as of the filing date) and 2,542 shares of common stock acquired through open market purchases.

Sentiment

Score: 7

Explanation: The filing reports a routine grant of Restricted Stock Units (RSUs) to a director, which is a standard compensation practice and generally viewed as a neutral to slightly positive event as it aligns management interests with shareholders. It does not contain any negative or unexpected information.

Positives

• The award of 4,491 Restricted Stock Units (RSUs) to Director Alfred W. Zollar aligns his interests with long-term shareholder value, as the value of the award is tied to the company's stock performance.
• The grant is part of the company's established Equity Incentive Plan, indicating a standard and transparent compensation practice for directors.

Future Outlook

This Form 4 filing does not provide forward-looking statements or guidance beyond the specified vesting schedule for the Restricted Stock Units.

Industry Context

This Form 4 filing, detailing an insider equity award, is a routine disclosure common across publicly traded companies. Such awards are standard practice to incentivize and retain directors and executives, aligning their interests with long-term company performance and shareholder value. It does not provide broader industry context or trends specific to the financial exchange sector.

Comparison to Industry Standards

• This Form 4 filing does not provide specific financial or operational data for direct comparison to global benchmarks or specific comparable companies/projects.
• Equity incentive plans and the granting of Restricted Stock Units (RSUs) are widely adopted compensation mechanisms for directors and executives in publicly traded companies across various industries, including financial services, aligning compensation with company performance.

Related Party Transactions

• The grant of Restricted Stock Units (RSUs) to Director Alfred W. Zollar is a transaction between the company and a related party (a director) as part of the company's Equity Incentive Plan.

Stakeholder Impact

• Shareholders: The RSU award aligns the director's interests with long-term shareholder value, as the value of the award is tied to the company's stock performance. It represents a non-cash compensation expense for the company.
• Employees: No direct impact on employees is indicated by this specific filing.
• Customers: No direct impact on customers is indicated by this specific filing.
• Suppliers: No direct impact on suppliers is indicated by this specific filing.
• Creditors: No direct impact on creditors is indicated by this specific filing.

Next Steps

• The 4,491 Restricted Stock Units (RSUs) granted to Alfred W. Zollar are scheduled to vest on June 11, 2026.

Key Dates

Keywords

NASDAQ, NDAQ, Form 4, SEC filing, Restricted Stock Units, RSU, Equity Incentive Plan, Insider transaction, Director compensation, Beneficial ownership