Form 4: Nasdaq Director Michael Splinter Reports Changes in Beneficial Ownership

Michael Splinter, a director at Nasdaq, Inc., reported the acquisition and disposal of common stock, including restricted stock grants and shares gifted to family trusts.

Summary

• On June 11, 2024, Michael Splinter, a director at Nasdaq, Inc., reported transactions involving Nasdaq's common stock.
• Splinter acquired 7,453 shares of common stock at $0, which vested on June 11, 2025.
• He also acquired 169 shares of restricted stock, fully vested as of the grant date, as compensation for additional Board service during the term ended June 11, 2024.
• Splinter's total direct holdings amount to 212,181 shares, including 196,225 vested shares.
• Additionally, 10,545 shares are held indirectly through family trusts where Splinter serves as a trustee.

Sentiment

Score: 6

Explanation: The document is a routine regulatory filing, indicating standard corporate governance practices. The sentiment is neutral as it primarily reports transactions without expressing a strong positive or negative outlook.

Positives

• The acquisition of restricted stock indicates confidence in Nasdaq's future performance.

Industry Context

Form 4 filings are standard practice for company insiders to report changes in their ownership of company stock, providing transparency to investors.

Comparison to Industry Standards

• Form 4 filings are a standard regulatory requirement for corporate insiders in publicly traded companies like Nasdaq, similar to filings made by executives at companies like Intercontinental Exchange (ICE) and CME Group.
• The reporting requirements ensure transparency and prevent insider trading, aligning with global regulatory benchmarks for financial markets.

Stakeholder Impact

• The filing provides transparency to shareholders regarding the stock ownership of a key company director.

Key Dates