Form 4: NASDAQ EVP Bryan Smith Reports Stock Sales and RSU Award

Bryan Smith, EVP and CPO of NASDAQ, Inc., reported the sale of common stock and the acquisition of Restricted Stock Units (RSUs) in recent transactions.

Summary

• Bryan Smith, an EVP and CPO at NASDAQ, Inc., filed a Form 4 detailing changes in beneficial ownership.
• On April 1, 2025, Smith sold 2,000 shares of common stock at $75.71 per share.
• On the same day, Smith was awarded 7,233 Restricted Stock Units (RSUs) under the Issuer's Equity Incentive Plan.
• Also on April 1, 2025, 1,403 shares were withheld for taxes related to the settlement of a previous equity award at $75.86.
• On April 2, 2025, Smith sold 1,132 shares at $75.67 per share.
• Following these transactions, Smith beneficially owns 63,450 shares of common stock, including restricted stock, PSUs, and shares purchased under the Employee Stock Purchase Plan.

Sentiment

Score: 6

Explanation: The sentiment is neutral. The stock sales are not particularly large and are conducted under a pre-arranged plan. The RSU grant is a positive sign of continued investment in the executive.

Positives

• The granting of 7,233 RSUs to Bryan Smith indicates continued investment in his role and future performance.

Negatives

• The sale of 3,132 shares by Bryan Smith may be viewed negatively, although it was conducted under a pre-arranged trading plan.

Risks

• The vesting schedule of the RSUs is back-end loaded, which could create uncertainty regarding long-term retention.

Future Outlook

The reported RSU award suggests an expectation of continued contributions from the reporting person, with vesting contingent upon continued service through April 1, 2029.

Industry Context

Form 4 filings are routine disclosures for corporate insiders and provide transparency into their trading activities. The sale of shares could be for personal financial planning, while the RSU grant aligns with standard executive compensation practices in the industry.

Comparison to Industry Standards

• Executive compensation packages in the financial technology sector typically include a mix of salary, stock options, and restricted stock units.
• The vesting schedule of the RSUs is fairly standard, with back-end loading common to incentivize long-term commitment.
• Comparable companies like Intercontinental Exchange (ICE) and CME Group also utilize similar equity-based compensation plans for their executives.

Stakeholder Impact

• The stock sales may have a minor negative impact on shareholder sentiment, but the RSU grant could offset this by signaling confidence in the company's future.

Key Dates

Keywords

Form 4, NASDAQ, Bryan Smith, Stock Sale, RSU, Restricted Stock Units, Beneficial Ownership, Equity Incentive Plan