Compensation award — excluded from discretionary-purchase analysis.
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 OwnershipAll the details
Dates, kept separate
Transaction date
Feb 12, 2026
Reporting period
Not applicable
Filed with the SEC
Feb 17, 2026
CEOGrant / award
Context
Classification
grant award
Code A — grant or award
Planned / mechanical clue
Footnote references an employee stock purchase plan
Only flagged when a footnote says so; never inferred
Source receipt
Record ID
0001193125-26-054557
Filed / recorded
Feb 17, 2026, 9:03 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
Adena T Friedman
Relationship
Director, Officer
Officer title
Chair and CEO
Security
Common Stock, par value $0.01 per share
Table
Non-derivative (Table I)
Transaction date
Feb 12, 2026
Transaction code
A
Shares / units
41,740
Price per share
$0.00
Acquired / disposed
Acquired (A)
Shares owned after
2,079,323
Ownership form
Direct
Amendment
No
Footnotes from the filing
Represents PSUs that were previously granted under Nasdaq's Equity Incentive Plan. The ultimate amount of shares of Common Stock to be received under the grant depended upon the achievement of performance goals during a two-year performance period from January 1, 2024 through December 31, 2025. The shares underlying the PSUs will vest on January 4, 2027.
Represents (i) 440,450 shares or units of restricted stock, of which 314,204 are vested, (ii) 1,525,520 shares of Common Stock underlying PSUs, 1,483,780 of which are vested, (iii) 10,000 shares of Common Stock acquired through open market purchases, and (iv) 103,353 shares granted under the Issuer's Equity Incentive Plan or the Issuer's Employee Stock Purchase Plan when the reporting person was an employee of the Issuer prior to returning as President in 2014.
Congressional trade