Insider trade

CEO sold ~$9.71M of NDAQ shares in the open market

Traded Apr 1, 2026 · Filed Apr 2, 2026

Nasdaq, Inc.NDAQ

~$9.71M
Reported value · 114K sh @ $85.44: 1.97M
Holds after · shares reported: +8.3%
stock since the trade · S&P 500 +18.3%, $85.15 → $92.19 on Oct 5

Why it stands out

The boss of Nasdaq, Inc. sold $9.71M 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: Apr 1, 2026
Reporting period: Not applicable
Filed with the SEC: Apr 2, 2026

CEO$1M+Pre-arranged plan referenced

Context

Classification

open market sale

Code S — open-market or private sale

Absolute commitment

~$9,706,924

Shares × reported transaction price

Timing vs results

62 days after results of Jan 29, 2026, 22 days before results of Apr 23, 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 $85.15 on Apr 1, 2026, 28% above its 52-week low and 16% below its high, after a 4% rise over the previous 30 trading days

52-week range $66.40 (Apr 8, 2025) to $100.98 (Jan 16, 2026), 54% of the way up, from 251 adjusted closes. 30 trading days earlier: $82.13 on Feb 18, 2026. 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	-2.0%	+4.1%	-6.1%
30 days	+1.5%	+11.4%	-9.9%
90 days	-3.9%	+14.0%	-17.9%
180 days	+4.9%	+17.6%	-12.7%

Past results only. Not a forecast.

Source receipt

Record ID: 0001193125-26-140439
Filed / recorded: Apr 2, 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: 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: Apr 1, 2026
Transaction code: S
Shares / units: 113,611
Price per share: $85.44
Acquired / disposed: Disposed (D)
Shares owned after: 1,965,751
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 11, 2025.
The price reported in this box is a weighted average price. These shares were sold in multiple transactions at prices ranging from $85.00 to $85.88, inclusive. The reporting person undertakes to provide to the Issuer, any of its security holders, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

Around the same time

Officer sold ~$700K of Nasdaq, Inc.

Automatic sale5mo ago

Officer sold ~$1.41M of Nasdaq, Inc.

Automatic sale5mo ago

Officer sold5mo ago

~$106KReported value · 1,194 sh @ $88.82

Nasdaq, Inc.'s SVP, Controller & PAO sold $106K of Nasdaq, Inc. shares. Nobody planned it ahead of time.

Why it stands out Official record