Form 4: Nasdaq Executive Bradley J. Peterson Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Executive Vice President Bradley J. Peterson of Nasdaq, Inc. reports acquisition and disposal of common stock and restricted stock units (RSUs) on April 1, 2024, affecting his beneficial ownership.
Summary
- On April 1, 2024, Bradley J. Peterson, an Executive Vice President at Nasdaq, Inc., reported changes in his beneficial ownership of the company's stock.
- He acquired 9,632 shares of common stock through the grant of restricted stock units (RSUs) under Nasdaq's Equity Incentive Plan.
- These RSUs vest in three tranches: 33% on April 1, 2026, 33% on April 1, 2027, and the remaining portion on April 1, 2028.
- Peterson also disposed of 3,974 shares to cover withholding taxes related to the vesting of previously granted equity, at a price of $62.29 per share.
- Following these transactions, Peterson's total beneficial ownership stands at 206,388 shares, including vested and unvested RSUs, performance share units (PSUs), and shares purchased under the Employee Stock Purchase Plan.
Sentiment
Score: 6
Explanation: Neutral sentiment as it reflects routine executive compensation activity. The acquisition of RSUs is a positive sign, but the disposal of shares for tax purposes is a neutral event.
Positives
- The grant of RSUs to an executive suggests continued investment in the company's leadership and alignment of interests with shareholders.
Negatives
- The disposal of shares to cover withholding taxes, while common, slightly reduces the executive's direct stake in the company.
Future Outlook
The executive's holdings will change as RSUs vest over the next few years.
Industry Context
Form 4 filings are a routine part of executive compensation and provide transparency into the trading activities of company insiders. This filing is typical for executives receiving equity-based compensation.
Comparison to Industry Standards
- Equity compensation is a standard practice among publicly traded companies like Nasdaq to incentivize executives.
- Vesting schedules for RSUs, such as the three-year schedule described, are common in the industry.
- Similar companies such as Intercontinental Exchange (ICE) and CME Group also utilize equity-based compensation for their executives.
Stakeholder Impact
- The filing provides transparency to shareholders regarding executive compensation and ownership.
Key Dates
| Date | Description |
|---|---|
| 04/01/2024 | Date of transaction (acquisition and disposal of shares) |
| 04/01/2026 | First vesting date for 33% of the granted RSUs |
| 04/01/2027 | Second vesting date for 33% of the granted RSUs |
| 04/01/2028 | Final vesting date for the remaining RSUs |
| 04/03/2024 | Date of signature on the Form 4 filing |
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