Form 4: Nasdaq Director Michael Splinter Gifts Shares to Family Trusts

Director Michael Splinter gifted shares of Nasdaq, Inc. stock to family trusts, retaining indirect beneficial ownership as a trustee.

Summary

• On March 28, 2024, Michael Splinter, a director of Nasdaq, Inc., gifted 3,930 shares of common stock to family trusts.
• Splinter directly disposed of 3,930 shares at a price of $0.
• He also acquired 3,930 shares indirectly through family trusts at a price of $0.
• Following the transaction, Splinter directly owns 204,559 shares and indirectly owns 10,545 shares through family trusts.
• The family trusts entered into a Lock-Up Agreement, dated as of March 27, 2024, with Morgan Stanley & Co. LLC and Goldman Sachs & Co. LLC.
• Under the terms of each Lock-Up Agreement, each trust has agreed not to sell or otherwise transfer such shares during the period from the transaction date until the close of business 90 days after March 19, 2024, subject to certain exceptions.
• The reporting person is a trustee of the family trusts.

Sentiment

Score: 5

Explanation: The document is a neutral regulatory filing detailing a common transaction. It doesn't convey any strong positive or negative sentiment.

Industry Context

This filing is a routine disclosure of insider transactions and doesn't necessarily reflect a strategic shift or material event for Nasdaq, Inc. It is common for executives and directors to manage their holdings for personal financial planning purposes.

Related Party Transactions

• The gifting of shares to family trusts constitutes a related party transaction, as the director is transferring assets to entities related to him.

Stakeholder Impact

• The transaction has minimal direct impact on stakeholders, as it is a personal financial decision by a director and does not affect the company's operations or financial performance.

Key Dates