Insider Transactions Reported by 34 Insiders of NASDAQ, INC.

Symbol: NDAQ on Nasdaq
Location: New York, NY

Quick Takeaways

NDAQ - NASDAQ, INC. has 34 insiders with reported activity on this page.
Net insider value flow over the last year: -$65,635,863.
Recent transaction rows are available for direct filing-level review.

What Changed

Buy value: $16,793,360; sell value: $82,429,222.
Net share flow: -665,962.

Why This Matters

This page gives a plain-language issuer insider context before you inspect transaction-level evidence.
Use the filing links below to verify timestamps, codes, and ownership impacts directly from SEC forms.

Official SEC Source

Filed on Form 4

Issuer insider activity is sourced from SEC Forms 3, 4, and 5.

See Original Filing

Insider trading overview

Last 12 months

Net insider flow leans to selling over the last 12 months. Net value: -$65,635,863.

Buys

$16,793,360

Shares: 212,000

Insiders: 2

Sells

$82,429,223

Shares: 877,962

Insiders: 8

Net

-$65,635,863

Shares: -665,962

Insiders: -6

Window (months)	Buy shares	Sell shares	Buy $	Sell $	Net $
0-3	212,000	516,790	$16,793,360	$48,019,325	-$31,225,965
3-6	0	313,343	$0	$30,157,073	-$30,157,073
6-9	0	18,006	$0	$1,684,912	-$1,684,912
9-12	0	29,823	$0	$2,567,913	-$2,567,913

NASDAQ, INC. executives and other stock owners filed with the SEC include:

Name	Relationship	Holdings Value	Past Year Net Change	Change %	Valuation	Report Date
INVESTOR AB	10%+ Owner	$4,622,440,255	+$15,835,040	+0.34%	Filing P/S	13 Feb 2026
Borse Dubai LTD	10%+ Owner	$3,383,634,585			Filing P/S	22 Mar 2024
Argus Seller, LP	10%+ Owner	$2,764,295,688			Filing P/S	29 Jul 2024
Friedman Adena T.	Chair and CEO, Director	$206,945,254	-$76,059,951	-27%	Mixed	03 Apr 2026
Michael R. Splinter	Director	$22,142,434			Mixed	30 Jan 2026
Pc Nelson Griggs	Pres. Capital Access Platforms	$20,279,480	-$1,005,120	-4.7%	Median	03 Apr 2026
Cohen Tal	Pres. Market Platforms	$19,586,353			Median	03 Apr 2026
John Zecca	EVP, Global CLO	$13,016,538	-$450,045	-3.3%	Median	03 Apr 2026
Bradley J. Peterson	Evp, Cio	$12,626,977	-$1,022,716	-7.5%	Median	03 Apr 2026
Essa Kazim	Director	$12,341,405			Mixed	11 Jun 2025
Jeremy Skule	Evp, Cso	$8,877,212	-$1,493,432	-14%	Median	03 Apr 2026
Steven D. Black	Director	$8,492,315			Mixed	21 Jun 2023
Thomas A. Kloet	Director	$7,977,555			Mixed	11 Jun 2025
Sarah Youngwood	Evp & Cfo	$7,241,818			Mixed	01 Apr 2026
Bryan Everard Smith	Evp, Cpo	$6,362,003	-$943,051	-13%	Median	03 Apr 2026
Bjorn Sibbern	Executive Vice President	$4,456,535			Mixed	06 Dec 2022
Begley Charlene T.	Director	$4,443,696	-$289,800	-6.1%	Filing P/S	04 Aug 2025
Alfred W. Zollar	Director	$4,260,230			Mixed	11 Jun 2025
Melissa Arnoldi	Director	$4,054,839			Mixed	11 Jun 2025
Ann M. Dennison	Executive Vice President	$3,314,607			Mixed	01 Nov 2023
Johan Torgeby	Director	$3,258,048	+$958,320	+42%	Filing P/S	17 Feb 2026
Brendan Brothers	Executive Vice President	$3,008,799			Mixed	03 Apr 2024
Lauren B. Dillard	Executive Vice President	$2,731,749			Mixed	01 Apr 2022
Roland Chai	Executive Vice President	$2,116,001			Mixed	06 Dec 2022
Oliver Albers	Executive Vice President	$2,054,800			Mixed	31 Dec 2022
Toni Townes-Whitley	Director	$1,621,507			Mixed	11 Jun 2025
Jeffery W. Yabuki	Director	$1,458,017			Mixed	11 Jun 2025
Lars Ottersgard	Executive Vice President	$1,247,075			Mixed	01 Apr 2022
Michelle Lynn Daly	SVP, Controller & PAO	$968,765	-$1,165,108	-55%	Median	03 Apr 2026
John David Rainey	Director	$964,078			Mixed	22 Jun 2022
Paul Holden Spaht Jr.	Director	$823,863			Mixed	11 Jun 2025
Kathryn A. Koch	Director	$599,778			Mixed	11 Jun 2025
Jacob Wallenberg	Director	$509,652			Mixed	15 Jun 2022
Jamie Wade King	Executive Vice President	$72,536			Mixed	04 Apr 2022

Top shareholders of NASDAQ, INC. (13F + 13D/G + 3/4/5)

Grouped by holder across the latest SEC ownership disclosures. Ownership % is shown only when it is directly reported or safely comparable across share classes.

Methodology: rows are grouped by holder and ranked by the holder's primary source value. — indicates unavailable or non-comparable values; "mixed-class rows" means the latest filing spans non-comparable classes.

Holder	Source	Role / Reporting	Ownership %	Shares	Holdings Value	12M Net Δ	As of	Details
VANGUARD GROUP INC	13F	Company	10%	59,916,887	$5,819,727,234	—	31 Dec 2025	13F
INVESTOR AB	13F 3/4/5	Company · 10%+ Owner	10% from 3/4/5	58,182,426	$5,651,259,037	—	31 Dec 2025	13F 3/4/5
BlackRock, Inc.	13F	Company	6.9%	39,503,815	$3,837,005,619	—	31 Dec 2025	13F
WELLINGTON MANAGEMENT GROUP LLP	13D/G 13F	Company	7.2%	41,237,143	$3,741,445,984	+$771,895,092	30 Jun 2025	13D/G 13F
Borse Dubai LTD	3/4/5	10%+ Owner	— class O/S missing	58,341,545	$3,383,634,585	—	22 Mar 2024	3/4/5
Argus Seller, LP	3/4/5 13D/G	10%+ Owner	4.4% from 13D/G	42,804,207	$2,764,295,688	—	29 Jul 2024	3/4/5 13D/G
MASSACHUSETTS FINANCIAL SERVICES CO /MA/	13F	Company	4.8%	27,627,767	$2,683,485,008	—	31 Dec 2025	13F
STATE STREET CORP	13F	Company	3.5%	19,878,600	$1,930,808,418	—	31 Dec 2025	13F
GEODE CAPITAL MANAGEMENT, LLC	13F	Company	2.2%	12,851,894	$1,243,807,404	—	31 Dec 2025	13F
FRANKLIN RESOURCES INC	13F	Company	1.8%	10,589,679	$1,028,575,520	—	31 Dec 2025	13F
MORGAN STANLEY	13F	Company	1.6%	9,266,562	$900,061,309	—	31 Dec 2025	13F
BANK OF AMERICA CORP /DE/	13F	Company	1.5%	8,691,428	$844,198,376	—	31 Dec 2025	13F
HARRIS ASSOCIATES L P	13F	Company	1.5%	8,621,689	$837,424,691	—	31 Dec 2025	13F
Nuveen, LLC	13F	Company	1.1%	6,073,271	$589,896,812	—	31 Dec 2025	13F
AMERIPRISE FINANCIAL INC	13F	Company	0.99%	5,662,037	$550,865,858	—	31 Dec 2025	13F
GOLDMAN SACHS GROUP INC	13F	Company	0.96%	5,507,265	$534,920,629	—	31 Dec 2025	13F
NORGES BANK	13F	Company	0.95%	5,457,639	$530,100,476	—	31 Dec 2025	13F
Invesco Ltd.	13F	Company	0.94%	5,369,264	$521,516,636	—	31 Dec 2025	13F
MANUFACTURERS LIFE INSURANCE COMPANY, THE	13F	Company	0.81%	4,662,676	$452,885,968	—	31 Dec 2025	13F
NORTHERN TRUST CORP	13F	Company	0.74%	4,269,918	$414,737,135	—	31 Dec 2025	13F
UBS Group AG	13F	Company	0.67%	3,849,407	$373,892,902	—	31 Dec 2025	13F
Select Equity Group, L.P.	13F	Company	0.65%	3,752,757	$364,505,287	—	31 Dec 2025	13F
UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC	13F	Company	0.64%	3,698,538	$359,238,996	—	31 Dec 2025	13F
FMR LLC	13F	Company	0.57%	3,294,111	$319,957,075	—	31 Dec 2025	13F
FARALLON CAPITAL MANAGEMENT LLC	13F	Company	0.52%	2,989,213	$290,342,259	—	31 Dec 2025	13F
Mariner, LLC	13F	Company	0.5%	2,875,927	$279,345,183	—	31 Dec 2025	13F
Legal & General Group Plc	13F	Company	0.5%	2,855,235	$277,328,976	—	31 Dec 2025	13F
CHARLES SCHWAB INVESTMENT MANAGEMENT INC	13F	Company	0.48%	2,727,956	$264,966,366	—	31 Dec 2025	13F
Neuberger Berman Group LLC	13F	Company	0.47%	2,694,180	$261,685,751	—	31 Dec 2025	13F
AMERICAN CENTURY COMPANIES INC	13F	Company	0.46%	2,643,598	$256,772,674	—	31 Dec 2025	13F
BESSEMER GROUP INC	13F	Company	0.46%	2,628,315	$255,289,000	—	31 Dec 2025	13F
DIMENSIONAL FUND ADVISORS LP	13F	Company	0.46%	2,625,048	$254,984,679	—	31 Dec 2025	13F
Winslow Capital Management, LLC	13F	Company	0.45%	2,568,537	$250,498,541	—	31 Dec 2025	13F
Amundi	13F	Individual	0.42%	2,433,477	$236,363,621	—	31 Dec 2025	13F
Bank of New York Mellon Corp	13F	Company	0.39%	2,263,644	$219,867,716	—	31 Dec 2025	13F
ENVESTNET ASSET MANAGEMENT INC	13F	Company	0.39%	2,223,384	$215,957,274	—	31 Dec 2025	13F
PRINCIPAL FINANCIAL GROUP INC	13F	Company	0.38%	2,209,502	$214,609,012	—	31 Dec 2025	13F
Friedman Adena T.	3/4/5	Chair and CEO, Director	— mixed-class rows	2,437,802 mixed-class rows	$206,945,254	-$76,059,951	03 Apr 2026	3/4/5
Bank Julius Baer & Co. Ltd, Zurich	13F	Company	0.37%	2,095,629	$203,961,722	—	31 Dec 2025	13F
AQR CAPITAL MANAGEMENT LLC	13F	Company	0.34%	1,933,756	$187,825,749	—	31 Dec 2025	13F
DEUTSCHE BANK AG\	13F	Company	0.29%	1,683,603	$163,528,359	—	31 Dec 2025	13F
LORD, ABBETT & CO. LLC	13F	Company	0.29%	1,654,190	$160,671,000	—	31 Dec 2025	13F
JPMORGAN CHASE & CO	13F	Company	0.27%	1,565,629	$152,069,687	—	31 Dec 2025	13F
JOHNSON INVESTMENT COUNSEL INC	13F	Company	0.27%	1,555,679	$151,103,075	—	31 Dec 2025	13F
CANADA LIFE ASSURANCE Co	13F	Company	0.27%	1,529,536	$148,666,000	—	31 Dec 2025	13F
TWO SIGMA INVESTMENTS, LP	13F	Company	0.25%	1,459,061	$141,718,595	—	31 Dec 2025	13F
Liontrust Investment Partners LLP	13F	Company	0.25%	1,417,767	$137,707,709	—	31 Dec 2025	13F
Robeco Institutional Asset Management B.V.	13F	Company	0.25%	1,417,204	$137,653,026	—	31 Dec 2025	13F
RAYMOND JAMES FINANCIAL INC	13F	Company	0.22%	1,270,134	$123,368,061	—	31 Dec 2025	13F
BARCLAYS PLC	13F	Company	0.22%	1,245,999	$121,023,883	—	31 Dec 2025	13F

Recent Insider Transactions by Companies or Individuals for NASDAQ, INC.

Showing up to 300 most recent insider transactions from the last 12 months.

Insider	Symbol	Class	Transaction	%	Value $	* Price $	Shares	Shares Owned	Date	Ownership
Michelle Lynn Daly	NDAQ	Common Stock, par value $0.01 per share	Tax liability	-3.58%			-424	11,412	03 Apr 2026	Direct
Friedman Adena T.	NDAQ	Common Stock, par value $0.01 per share	Tax liability	-0.41%			-8,075	1,983,866	03 Apr 2026	Direct
Bradley J. Peterson	NDAQ	Common Stock, par value $0.01 per share	Tax liability	-1%			-1,499	148,745	03 Apr 2026	Direct
Jeremy Skule	NDAQ	Common Stock, par value $0.01 per share	Tax liability	-0.96%			-1,017	104,573	03 Apr 2026	Direct
Bryan Everard Smith	NDAQ	Common Stock, par value $0.01 per share	Tax liability	-1.07%			-813	74,944	03 Apr 2026	Direct
Cohen Tal	NDAQ	Common Stock, par value $0.01 per share	Tax liability	-0.67%			-1,565	230,726	03 Apr 2026	Direct
Pc Nelson Griggs	NDAQ	Common Stock, par value $0.01 per share	Tax liability	-0.65%			-1,565	238,891	03 Apr 2026	Direct
John Zecca	NDAQ	Common Stock, par value $0.01 per share	Tax liability	-0.51%			-780	153,334	03 Apr 2026	Direct
Friedman Adena T.	NDAQ	Common Stock, par value $0.01 per share	Tax liability	-0.69%			-13,739	1,991,941	01 Apr 2026	Direct
Friedman Adena T.	NDAQ	Common Stock, par value $0.01 per share	Award	2.03%			39,929	2,005,680	01 Apr 2026	Direct
Friedman Adena T.	NDAQ	Common Stock, par value $0.01 per share	Sale	-5.46%	$9,706,924	$85.44	-113,611	1,965,751	01 Apr 2026	Direct
Friedman Adena T.	NDAQ	Common Stock, par value $0.01 per share	Options Exercise	5.78%			113,611	2,079,362	01 Apr 2026	Direct
Friedman Adena T.	NDAQ	Employee Stock Option (Right to Buy)	Options Exercise	-100%			-113,611	0	01 Apr 2026	Direct
Sarah Youngwood	NDAQ	Common Stock, par value $0.01 per share	Award	25.8%			15,267	74,558	01 Apr 2026	Direct
Bryan Everard Smith	NDAQ	Common Stock, par value $0.01 per share	Tax liability	-2.76%			-2,149	75,757	01 Apr 2026	Direct
Bryan Everard Smith	NDAQ	Common Stock, par value $0.01 per share	Award	9.94%			7,046	77,906	01 Apr 2026	Direct
Michelle Lynn Daly	NDAQ	Common Stock, par value $0.01 per share	Tax liability	-6.57%			-832	11,836	01 Apr 2026	Direct
Michelle Lynn Daly	NDAQ	Common Stock, par value $0.01 per share	Award	19%			2,025	12,668	01 Apr 2026	Direct
Cohen Tal	NDAQ	Common Stock, par value $0.01 per share	Tax liability	-4.58%			-11,141	232,291	01 Apr 2026	Direct
Cohen Tal	NDAQ	Common Stock, par value $0.01 per share	Award	6.69%			15,267	243,432	01 Apr 2026	Direct
Bradley J. Peterson	NDAQ	Common Stock, par value $0.01 per share	Tax liability	-1.8%			-2,761	150,244	01 Apr 2026	Direct
Bradley J. Peterson	NDAQ	Common Stock, par value $0.01 per share	Award	5.59%			8,103	153,005	01 Apr 2026	Direct
Jeremy Skule	NDAQ	Common Stock, par value $0.01 per share	Tax liability	-2.16%			-2,332	105,590	01 Apr 2026	Direct
Jeremy Skule	NDAQ	Common Stock, par value $0.01 per share	Award	7.61%			7,633	107,922	01 Apr 2026	Direct
Pc Nelson Griggs	NDAQ	Common Stock, par value $0.01 per share	Tax liability	-1.36%			-3,308	240,456	01 Apr 2026	Direct
Pc Nelson Griggs	NDAQ	Common Stock, par value $0.01 per share	Award	5.06%			11,743	243,764	01 Apr 2026	Direct
John Zecca	NDAQ	Common Stock, par value $0.01 per share	Tax liability	-1.34%			-2,097	154,114	01 Apr 2026	Direct
John Zecca	NDAQ	Common Stock, par value $0.01 per share	Award	4.93%			7,339	156,211	01 Apr 2026	Direct
Friedman Adena T.	NDAQ	Common Stock, par value $0.01 per share	Gift	-5.46%			-113,572	1,965,751	11 Mar 2026	Direct
Friedman Adena T.	NDAQ	Common Stock, par value $0.01 per share	Sale	-4.27%	$8,363,027	$90.08	-92,840	2,079,323	06 Mar 2026	Direct
Friedman Adena T.	NDAQ	Common Stock, par value $0.01 per share	Options Exercise	4.46%			92,840	2,172,163	06 Mar 2026	Direct
Friedman Adena T.	NDAQ	Employee Stock Option (Right to Buy)	Options Exercise	-45%			-92,840	113,611	06 Mar 2026	Direct
Bryan Everard Smith	NDAQ	Common Stock, par value $0.01 per share	Sale	-7.81%	$523,440	$87.24	-6,000	70,860	02 Mar 2026	Direct
Michelle Lynn Daly	NDAQ	Common Stock, par value $0.01 per share	Sale	-29%	$352,934	$81.34	-4,339	10,643	19 Feb 2026	Direct
Johan Torgeby	NDAQ	Common Stock, par value $0.01 per share	Purchase	41.7%	$958,320	$79.86	12,000	40,797	17 Feb 2026	Direct
Investor Ab	NDAQ	Common Stock	Purchase	0.34%	$15,835,040	$79.18	200,000	58,382,426	13 Feb 2026	See Footnotes
Friedman Adena T.	NDAQ	Common Stock, par value $0.01 per share	Tax liability	-5.38%			-115,775	2,037,583	12 Feb 2026	Direct
Friedman Adena T.	NDAQ	Common Stock, par value $0.01 per share	Award	14.4%			270,195	2,153,358	12 Feb 2026	Direct
Bryan Everard Smith	NDAQ	Common Stock, par value $0.01 per share	Tax liability	-12.6%			-9,924	68,834	11 Feb 2026	Direct
Bryan Everard Smith	NDAQ	Common Stock, par value $0.01 per share	Award	58.6%			29,114	78,758	11 Feb 2026	Direct
Jeremy Skule	NDAQ	Common Stock, par value $0.01 per share	Tax liability	-12.2%			-12,838	92,263	11 Feb 2026	Direct
Jeremy Skule	NDAQ	Common Stock, par value $0.01 per share	Award	48.6%			34,385	105,101	11 Feb 2026	Direct
Bradley J. Peterson	NDAQ	Common Stock, par value $0.01 per share	Tax liability	-12.7%			-19,740	135,227	11 Feb 2026	Direct
Bradley J. Peterson	NDAQ	Common Stock, par value $0.01 per share	Award	52.8%			53,564	154,967	11 Feb 2026	Direct
Pc Nelson Griggs	NDAQ	Common Stock, par value $0.01 per share	Tax liability	-8.62%			-20,674	219,179	11 Feb 2026	Direct
Pc Nelson Griggs	NDAQ	Common Stock, par value $0.01 per share	Award	31%			56,774	239,853	11 Feb 2026	Direct
Michelle Lynn Daly	NDAQ	Common Stock, par value $0.01 per share	Tax liability	-16.3%			-2,580	13,218	11 Feb 2026	Direct
Michelle Lynn Daly	NDAQ	Common Stock, par value $0.01 per share	Award	122%			8,683	15,798	11 Feb 2026	Direct
Cohen Tal	NDAQ	Common Stock, par value $0.01 per share	Tax liability	-8.77%			-20,674	215,000	11 Feb 2026	Direct
Cohen Tal	NDAQ	Common Stock, par value $0.01 per share	Award	31.7%			56,774	235,674	11 Feb 2026	Direct

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