Form 4: Nasdaq Executive John Zecca Reports Stock Award and Tax Withholding

Executive Vice President John Zecca of Nasdaq, Inc. reports the acquisition of restricted stock and the surrender of shares for tax withholding related to vested equity.

Summary

• On April 1, 2024, John Zecca, an Executive Vice President at Nasdaq, Inc., acquired 8,026 shares of restricted stock under Nasdaq's Equity Incentive Plan.
• These shares vest in three tranches: 33% on April 1, 2026, 33% on April 1, 2027, and the remaining 34% on April 1, 2028.
• Also on April 1, 2024, Zecca surrendered 1,721 shares of common stock at a price of $62.29 per share to cover withholding taxes associated with the vesting of previously granted equity.
• Following these transactions, Zecca directly owns 124,263 shares of Nasdaq common stock, which includes 21,161 shares of restricted stock (4,070 of which are vested) and 103,102 shares underlying PSUs (all vested).

Sentiment

Score: 7

Explanation: The document reflects standard executive compensation practices, indicating stability and alignment of interests. The sentiment is neutral to slightly positive.

Positives

• The grant of restricted stock to an executive aligns their interests with the long-term performance of the company.
• The vesting schedule encourages continued service and commitment from the executive.

Future Outlook

The document does not contain specific forward-looking statements beyond the vesting schedule of the restricted stock.

Industry Context

Stock awards are a common component of executive compensation packages in the financial services industry, aligning executive incentives with shareholder value.

Comparison to Industry Standards

• Executive compensation packages, including stock awards, at companies like Intercontinental Exchange (ICE) and CME Group (CME) often include similar vesting schedules to incentivize long-term performance.
• The vesting schedule of 33% per year over three years is a fairly standard practice in the industry.
• The use of stock to cover tax obligations is also a common practice among publicly traded companies.

Stakeholder Impact

• Shareholders may view the stock award positively as it aligns executive interests with long-term company performance.
• Employees may see the stock award as a sign of the company's commitment to its leadership.

Key Dates