Insider trade

Officer sold ~$450K of NDAQ shares in the open market

Traded Jan 6, 2026 · Filed Jan 8, 2026

Nasdaq, Inc.NDAQ

~$450K
Reported value · 4,500 sh @ $100.01: 126K
Holds after · shares reported: -9.0%
stock since the trade · S&P 500 +10.4%, $100.69 → $91.67 on Oct 1

Why it stands out

Nasdaq, Inc.'s Global CLO sold $450K of Nasdaq, Inc. shares. It was planned long ago, so it says very little.

Written from the filing's own figures. OQRO describes what was reported and never tells you what to buy or sell

View the official recordSEC Form 4 — Statement of Changes in Beneficial Ownership

All the details

Dates, kept separate

Transaction date: Jan 6, 2026
Reporting period: Not applicable
Filed with the SEC: Jan 8, 2026

Officer$100K–$500KPre-arranged plan referenced

Context

Classification

open market sale

Code S — open-market or private sale

Absolute commitment

~$450,045

Shares × reported transaction price

Timing vs results

77 days after results of Oct 21, 2025, 23 days before results of Jan 29, 2026

Results dates are the company's own 8-K (Item 2.02). Many companies only let insiders trade in a window after results

Price at the time

Closed at $100.69 on Jan 6, 2026, at its 52-week high, after a 16% rise over the previous 30 trading days

52-week range $66.40 (Apr 8, 2025) to $100.69 (Jan 6, 2026), 100% of the way up, from 250 adjusted closes. 30 trading days earlier: $86.99 on Nov 20, 2025. Describes the past only, not a forecast

Planned / mechanical clue

Footnote references a pre-arranged trading plan (Rule 10b5-1)

Only flagged when a footnote says so; never inferred

After it was reported

After	Stock	S&P 500	Difference
7 days	+2.8%	-0.3%	+3.1%
30 days	-12.2%	-0.0%	-12.1%
90 days	-14.3%	-2.0%	-12.2%
180 days	-14.1%	+7.4%	-21.5%

Past results only. Not a forecast.

Source receipt

Record ID: 0001193125-26-007651
Filed / recorded: Jan 8, 2026, 9:00 PM UTC
Added to OQRO: Oct 2, 2026, 12:28 PM UTC
Parser: form4-xml-v1
Data quality: Verified: identifiers matched exactly
Issuer: NASDAQ, INC.
Issuer CIK: 1120193
Ticker: NDAQ
Reporting person: John Zecca
Relationship: Officer
Officer title: EVP, Global CLO
Security: Common Stock, par value $0.01 per share
Table: Non-derivative (Table I)
Transaction date: Jan 6, 2026
Transaction code: S
Shares / units: 4,500
Price per share: $100.01
Acquired / disposed: Disposed (D)
Shares owned after: 125,674
Ownership form: Direct
Amendment: No

Footnotes from the filing

The reported sale was effected pursuant to a Rule 10b5-1(c) trading plan adopted on September 8, 2025.
Represents (i) 22,271 shares or units of restricted stock, of which 2,152 are vested and (ii) 103,403 shares of Common Stock underlying PSUs, all of which are vested.