Form 4: Nasdaq Director Michael Splinter Receives RSU Grant

Nasdaq, Inc. director Michael R. Splinter was granted 5,246 restricted stock units as part of the company's equity incentive plan.

Summary

• Director Michael R. Splinter acquired 5,246 restricted stock units (RSUs) on June 10, 2026.
• The RSUs represent a contingent right to receive one share of Nasdaq common stock per unit.
• The grant is scheduled to vest in full on June 10, 2027.
• Following this transaction, the director holds 217,988 shares directly and 15,225 shares indirectly through family trusts.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a routine regulatory disclosure regarding director compensation with no material impact on company operations or financial health.

Positives

• Director maintains significant long-term alignment with shareholders through a total beneficial ownership of 233,213 shares.

Negatives

• None identified.

Risks

• The value of the RSU grant is subject to market fluctuations in Nasdaq, Inc. common stock price until the vesting date.

Future Outlook

The RSUs are set to vest on June 10, 2027, at which point they will convert to common stock.

Management Comments

• The grant was issued pursuant to the Issuer's Equity Incentive Plan.

Industry Context

StockSavvy.ai notes that equity-based compensation for board members is a standard corporate governance practice in the financial exchange sector to ensure director interests are aligned with long-term shareholder value.

Comparison to Industry Standards

• The use of RSU grants for non-employee directors is consistent with compensation structures at peer financial exchanges like Intercontinental Exchange (ICE) and Cboe Global Markets (CBOE).

Related Party Transactions

• The reporting person holds 15,225 shares indirectly through family trusts for which he serves as trustee.

Stakeholder Impact

• Minimal impact; the transaction represents standard director equity compensation.

Next Steps

• Vesting of the 5,246 RSUs on June 10, 2027.

Key Dates

Keywords

Nasdaq, NDAQ, Form 4, Insider Trading, Equity Incentive Plan, Director Compensation