Form 4: Nasdaq Executive Vice President Jeremy Skule Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Executive Vice President Jeremy Skule reports acquisition of restricted stock and disposition of shares to cover withholding taxes related to vesting equity.
Summary
- Jeremy Skule, an Executive Vice President at Nasdaq, Inc., reported changes in beneficial ownership of the company's stock on April 1, 2024.
- Skule acquired 8,026 shares of common stock with a value of $0.00.
- He also disposed of 2,628 shares at $62.29 per share to cover withholding taxes related to the vesting of equity.
- Following these transactions, Skule beneficially owns 119,296 shares of Nasdaq common stock.
- These holdings include restricted stock units (RSUs), performance stock units (PSUs), and shares purchased under the Employee Stock Purchase Plan.
Sentiment
Score: 6
Explanation: The sentiment is neutral. The filing reflects standard executive compensation practices and tax obligations, with no indication of unusual or concerning activity.
Positives
- The acquisition of restricted stock indicates continued alignment of the executive's interests with the company's long-term performance.
Industry Context
Form 4 filings are standard practice and provide transparency into the trading activities of company insiders, allowing investors to monitor executive sentiment and potential future performance indicators.
Comparison to Industry Standards
- Executive compensation packages often include a mix of salary, bonus, and equity-based awards like restricted stock units (RSUs) and performance stock units (PSUs).
- The vesting schedule of the restricted stock (33% on April 1, 2026, 33% on April 1, 2027 and the remainder on April 1, 2028) is a typical vesting schedule for executive equity grants.
- Companies like Intercontinental Exchange (ICE) and London Stock Exchange Group (LSEG) also utilize similar equity-based compensation plans 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 of restricted stock and disposition of shares for tax withholding. |
| 04/03/2024 | Date of signature on the Form 4 filing. |
| 04/01/2026 | First vesting date (33%) for the restricted stock granted on April 1, 2024. |
| 04/01/2027 | Second vesting date (33%) for the restricted stock granted on April 1, 2024. |
| 04/01/2028 | Final vesting date (remaining 34%) for the restricted stock granted on April 1, 2024. |
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