Form 4: NASDAQ Executive Trades Common Stock

Michelle Lynn Daly, SVP, Controller & PAO of NASDAQ, Inc., reported transactions involving the purchase and beneficial ownership of common stock.

Summary

• Michelle Lynn Daly, SVP, Controller & PAO of NASDAQ, Inc., reported transactions on April 24, 2026.
• She acquired 1,194 shares of common stock at a price of $88.82 per share, increasing her direct beneficial ownership to 10,218 shares.
• Additionally, she acquired 129 shares of common stock at a price of $88.85 per share, resulting in a total direct beneficial ownership of 10,089 shares.
• The filing also notes that 6,787 shares or units of restricted stock, 1,764 shares of Common Stock underlying PSUs, and 1,538 shares purchased under the Issuer's Employee Stock Purchase Plan are held, with none of the restricted stock or PSUs currently vested.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this filing as neutral, as it reports routine insider transactions without significant positive or negative financial disclosures.

Positives

• The reporting person acquired additional shares of common stock, indicating continued investment in the company.
• The acquisition of shares under the Employee Stock Purchase Plan suggests employee participation in the company's equity.

Negatives

• A significant portion of restricted stock and performance share units (PSUs) are not yet vested, indicating future compensation is contingent on continued service and performance.

Risks

• The value of unvested restricted stock and PSUs is subject to market fluctuations and company performance, posing a risk to future compensation realization.

Future Outlook

The filing does not contain forward-looking statements or guidance. It solely reports on past transactions.

Industry Context

StockSavvy.ai notes that insider transactions, such as those reported on Form 4, provide insights into management's confidence in the company's prospects. Acquisitions by executives can be interpreted as a positive signal, while sales might raise concerns. The specific details of vested and unvested equity are crucial for understanding executive compensation structures and potential future dilution.

Stakeholder Impact

• Shareholders: The acquisition of shares by an executive may be viewed positively, suggesting confidence in the company's future. The unvested equity represents potential future dilution.
• Employees: The purchase of shares under the Employee Stock Purchase Plan indicates employee engagement and investment in the company.
• Management: The transactions reflect the executive's compensation and investment strategy.

Next Steps

• Continued monitoring of insider transactions for further insights into management's perspective on the company's valuation and future performance.

Key Dates

Keywords

NASDAQ, NDAQ, Form 4, Insider Trading, Stock Transaction, Beneficial Ownership, Common Stock, Executive Compensation, Securities Exchange Act