Form 4: NASDAQ Executive Reports Stock Transactions

Bryan Everard Smith, EVP, CPO of NASDAQ, Inc., reported transactions involving common stock and derivative securities on April 3, 2026.

Summary

• Bryan Everard Smith, Executive Vice President and Chief Product Officer (EVP, CPO) of NASDAQ, Inc., reported a transaction on April 3, 2026.
• This transaction involved the withholding of 813 shares of Common Stock for tax purposes, valued at $86.65 per share.
• Following this transaction, Mr. Smith beneficially owns 74,944 shares of NASDAQ common stock.
• The filing also details Mr. Smith's holdings in restricted stock, performance share units (PSUs), and shares purchased through the Employee Stock Purchase Plan.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this filing as neutral, as it represents routine insider transactions related to compensation and tax obligations rather than significant strategic shifts or performance indicators.

Positives

• The executive continues to hold a significant number of shares in the company, indicating ongoing commitment.
• The transaction involved shares withheld for taxes related to equity awards, which is a standard practice for compensation realization.

Negatives

• A portion of the executive's holdings are subject to vesting schedules (3,857 restricted stock units and 37,340 PSUs are vested, implying others are not).
• The withholding of shares for taxes represents a reduction in the executive's direct shareholding.

Risks

• Potential for future sales of vested shares by the reporting person, which could impact stock supply.
• The performance of PSUs is contingent on meeting specific performance targets, introducing uncertainty.

Future Outlook

The filing does not contain forward-looking statements or guidance. It reports on past transactions and current beneficial ownership.

Industry Context

StockSavvy.ai notes that Form 4 filings are standard disclosures for executives and directors, providing transparency into insider stock transactions. This filing indicates typical compensation and ownership management practices within the financial technology sector.

Comparison to Industry Standards

• Executives in the financial technology sector commonly receive equity-based compensation, including restricted stock and performance share units, as detailed in this filing.
• The practice of withholding shares for tax settlement is a standard procedure across the industry to manage tax liabilities associated with equity awards.
• The ownership levels reported are within the typical range for senior executives of publicly traded companies of NASDAQ's size and scope.

Stakeholder Impact

• Shareholders: Increased transparency into executive ownership and compensation practices.
• Employees: Reinforces the company's use of equity-based compensation plans.
• Management: Standard reporting requirement for beneficial ownership.

Next Steps

• Continued monitoring of insider transactions for any significant changes in beneficial ownership.
• Evaluation of future equity awards and their vesting schedules.

Key Dates

Keywords

NASDAQ, Form 4, Insider Trading, Stock Transaction, Executive Compensation, Securities Ownership, EVP, CPO, Common Stock, Derivative Securities