INVESTOR AB - 13 Feb 2026 Form 4 Insider Report for NASDAQ, INC. (NDAQ)

Role: 10%+ Owner
Signature: See Exhibit 99.1
Issuer symbol: NDAQ
Transactions as of: 13 Feb 2026
Net transactions value: +$15,835,040
Form type: 4
Filing time: 13 Feb 2026, 15:56:39 UTC
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
INVESTOR AB	10%+ Owner	ARSENALSGATAN 8C, STOCKHOLM, SWEDEN	See Exhibit 99.1	13 Feb 2026	0000889232

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	NDAQ	Common Stock	Purchase	$15,835,040	+200,000	+0.34%	$79.18	58,382,426	13 Feb 2026	See Footnotes	F1, F2, F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The price reported in Column 4 is a weighted average price. These shares of common stock, par value $0.01 per share (the "Shares") were purchased in multiple transactions at prices ranging from $79.10 to $79.52 per Share, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of Shares purchased at each separate price within the range set forth in this footnote.
F2	Reflects Shares of the Issuer held directly by Innax AB (formerly known as Patricia Holding AB). Investor AB is the sole shareholder of Innax AB.
F3	Information with respect to each of the Reporting Persons is given solely by such Reporting Person, and no Reporting Person has responsibility for the accuracy or completeness of information supplied by another Reporting Person. Each of the Reporting Persons (other than to the extent it directly holds securities reported herein) disclaims beneficial ownership of the securities held by the other Reporting Persons, except to the extent of such Reporting Person's pecuniary interest therein, and, pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, each of the Reporting Persons (other than to the extent it directly holds securities reported herein) states that the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of all of the reported securities for purposes of Section 16 or for any other purpose.