Form 4: NASDAQ EVP, CIO Bradley J. Peterson Reports Stock Transactions

Bradley J. Peterson, EVP and CIO of NASDAQ, Inc., reports acquisition and disposal of common stock, including shares withheld for taxes and a sale under a 10b5-1 trading plan.

Summary

• On April 1, 2025, Bradley J. Peterson, EVP and CIO of NASDAQ, Inc., acquired 8,416 shares of common stock through a Restricted Stock Unit (RSU) award.
• Also on April 1, 2025, 2,411 shares were disposed of to cover taxes related to the settlement of a previous equity award at a price of $75.86 per share.
• On April 2, 2025, Peterson sold 2,308 shares of common stock at $75.67 per share under a pre-arranged Rule 10b5-1(c) trading plan.
• Following these transactions, Peterson beneficially owns 134,772 shares of NASDAQ common stock.

Sentiment

Score: 6

Explanation: Neutral sentiment. The transactions are a mix of RSU grants (positive) and sales for tax obligations and pre-planned diversification (neutral). The executive still holds a significant number of shares.

Positives

• The acquisition of 8,416 shares through RSUs indicates continued alignment with the company's long-term performance.

Negatives

• The sale of 2,308 shares, while under a pre-arranged plan, could be perceived negatively by some investors.

Risks

• Sales of shares by executives, even under 10b5-1 plans, can sometimes create short-term price volatility.

Future Outlook

The executive's holdings are still substantial, with future vesting of RSUs occurring in 2027, 2028 and 2029.

Industry Context

Insider transactions are closely watched in the financial industry as they can provide insights into management's perspective on the company's valuation and future prospects. Rule 10b5-1 plans are common, allowing insiders to sell shares without being accused of acting on non-public information.

Comparison to Industry Standards

• Comparing Peterson's transactions to those of executives at similar companies like Intercontinental Exchange (ICE) or CME Group (CME) could provide context on whether these actions are typical for executives in the exchange industry.
• The use of Rule 10b5-1 trading plans is a standard practice among public company executives to avoid accusations of insider trading, aligning with common governance practices.

Stakeholder Impact

• Shareholders may react to the sale of shares, although the pre-planned nature of the sale mitigates potential negative sentiment.
• Employees may view the RSU grants as a positive sign of the company's commitment to employee compensation.

Next Steps

• Monitor future Form 4 filings to track any further changes in Peterson's holdings.
• Observe the stock's performance in the days following this disclosure to gauge market reaction.

Key Dates

Keywords

NASDAQ, Bradley J. Peterson, Form 4, insider trading, stock transaction, RSU, Rule 10b5-1, equity incentive plan