Insider trade

Officer sold ~$353K of NDAQ shares in the open market

Traded Feb 19, 2026 · Filed Feb 23, 2026

Nasdaq, Inc.NDAQ

~$353K
Reported value · 4,339 sh @ $81.34: 11K
Holds after · shares reported: +13.2%
stock since the trade · S&P 500 +13.2%, $81.41 → $92.19 on Oct 5

Why it stands out

Nasdaq's SVP, Controller & PAO sold $353K of Nasdaq shares. It happened by itself, for taxes or pay.

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: Feb 19, 2026
Reporting period: Not applicable
Filed with the SEC: Feb 23, 2026

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

Context

Classification

open market sale

Code S — open-market or private sale

Absolute commitment

~$352,934

Shares × reported transaction price

Timing vs results

21 days after results of Jan 29, 2026, 63 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 $81.41 on Feb 19, 2026, 23% above its 52-week low and 19% below its high, after a 19% drop over the previous 30 trading days

52-week range $66.40 (Apr 8, 2025) to $100.98 (Jan 16, 2026), 43% of the way up, from 251 adjusted closes. 30 trading days earlier: $100.69 on Jan 6, 2026. Describes the past only, not a forecast

Planned / mechanical clue

Footnote references an employee stock purchase plan

Only flagged when a footnote says so; never inferred

After it was reported

After	Stock	S&P 500	Difference
7 days	+7.8%	−1.0%	+8.8%
30 days	+3.3%	−6.2%	+9.4%
90 days	+12.1%	+9.2%	+2.9%
180 days	+21.8%	+11.1%	+10.7%

Past results only. Not a forecast.

Source receipt

Record ID: 0001193125-26-063926
Filed / recorded: Feb 23, 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: Michelle Lynn Daly
Relationship: Officer
Officer title: SVP, Controller & PAO
Security: Common Stock, par value $0.01 per share
Table: Non-derivative (Table I)
Transaction date: Feb 19, 2026
Transaction code: S
Shares / units: 4,339
Price per share: $81.34
Acquired / disposed: Disposed (D)
Shares owned after: 10,643
Ownership form: Direct
Amendment: No

Footnotes from the filing

Represents (i) 7,212 shares or units of restricted stock, of which 0 are vested, (ii) 1,764 shares of Common Stock underlying PSUs, none of which are vested, and (iii) 1,667 shares of Common Stock purchased under the Issuer's Employee Stock Purchase Plan.