Form 4: NASDAQ EVP Jeremy Skule Reports Stock Award and Tax Withholding

EVP and CSO of NASDAQ, Inc., Jeremy Skule, reports the acquisition of restricted stock units and the disposal of shares for tax withholding.

Summary

• Jeremy Skule, EVP and CSO of NASDAQ, Inc., reported changes in beneficial ownership of the company's stock.
• On April 1, 2025, Skule was awarded 6,575 Restricted Stock Units (RSUs) under the Issuer's Equity Incentive Plan.
• These RSUs will vest in three tranches: 33% on April 1, 2027, 33% on April 1, 2028, and the remaining 34% on April 1, 2029.
• Also on April 1, 2025, 1,770 shares of Common Stock were withheld for taxes related to the settlement of a previous equity award at a price of $75.86 per share.
• Following these transactions, Skule beneficially owns 101,665 shares of NASDAQ, Inc.
• This total includes 45,051 shares or units of restricted stock (9,091 vested), 53,218 shares underlying PSUs (all vested), and 3,396 shares purchased under the Employee Stock Purchase Plan.

Sentiment

Score: 7

Explanation: The document reflects standard executive compensation practices. The RSU grant is a positive sign, while the tax withholding is a neutral event. Overall, the sentiment is moderately positive.

Positives

• The grant of RSUs indicates the company's continued investment in its executives and aligns their interests with shareholders.
• Skule's continued holdings in NASDAQ, Inc. demonstrate a vested interest in the company's success.

Negatives

• The disposal of shares for tax withholding, while a normal occurrence, slightly reduces Skule's direct ownership in the company.

Risks

• The value of the RSUs is subject to the price fluctuations of NASDAQ, Inc.'s common stock.
• Changes in tax laws could impact the value of equity awards.

Future Outlook

The document does not contain specific forward-looking statements, but the vesting schedule of the RSUs extends to April 1, 2029, indicating a long-term incentive structure.

Industry Context

Equity compensation is a common practice in the financial services industry to attract and retain top talent. The vesting schedule encourages long-term commitment from executives.

Comparison to Industry Standards

• Companies like Intercontinental Exchange (ICE) and CME Group also utilize equity-based compensation plans for their executives.
• The vesting schedules and types of equity awards (RSUs, PSUs, stock options) are generally comparable across these firms.
• The specific amounts and terms of these awards vary based on individual performance and company policies.

Stakeholder Impact

• Shareholders may view the RSU grant as a positive incentive for management to drive long-term value.
• Employees may see the equity compensation plan as a benefit that aligns their interests with the company's success.

Key Dates

Keywords

NASDAQ, Jeremy Skule, RSU, Restricted Stock Units, Beneficial Ownership, Equity Incentive Plan, Tax Withholding, Form 4, EVP, CSO