NDAQ NASDAQ, INC.
Price Chart
Executive Summary
NASDAQ CEO Adena Friedman exercised stock options and sold 92,840 shares in the open market for $8.36 million. The exercise involved two tranches of options, one at $0 and one at $22.22 per share, with the sale occurring at $90.08 per share.
Key Financial Metrics
Actionable Insight
Monitor for additional selling in coming weeks — if no further sales occur, this is likely a planned compensation-related transaction. No immediate negative signal, but watch for deviations from historical patterns.
Key Facts
- CEO Adena Friedman exercised 185,680 stock options (92,840 at $0 and 92,840 at $22.22) on March 6, 2026.
- She sold 92,840 shares in the open market at $90.08, generating $8.36 million in proceeds.
- The sale represents approximately 0.017% of Nasdaq's $50.1B market cap — below the 0.1% threshold for materiality.
- This appears to be a routine stock option exercise and partial monetization, not an outright net share sale beyond tax-related or diversification motives.
Financial Impact
$8.36 million in open-market sales; $2.06 million in option cost; $0 cash outlay for half the options.
Risk Factors
- Perception of insider selling could weigh on sentiment if misinterpreted, despite being part of routine option exercise.
- If future clusters show broader executive selling, it could signal weakening confidence.
Market Snapshot
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CONTEXT: Insider Cluster Data (3 trades, 7d window) | cluster-NDAQ-1773172934111 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
|
Jun 12, 2026
1d ago
|
Press Release
| $86.76 awaiting T+20 | awaiting T+20 | — | $88.98 (+2.56%) |
|
Apr 24, 2026
7w ago
|
DEFA14A
| $90.43 $90.88 | ▲ +0.50% | ▼ −4.46% | $88.98 (−1.60%) |
|
Apr 24, 2026
7w ago
|
Insider Cluster
| $91.32 $92.81 | ▲ +1.63% | ▼ −3.63% | $88.98 (−2.56%) |
|
Apr 23, 2026
7w ago
|
8-K
| $87.04 $90.01 | ▲ +3.41% | ▼ −1.22% | $88.98 (+2.23%) |
|
Apr 23, 2026
7w ago
|
Press Release
| $87.04 $90.01 | ▲ +3.41% | ▼ −1.22% | $88.98 (+2.23%) |
|
Apr 23, 2026
7w ago
|
Press Release
| $87.04 $90.01 | ▲ +3.41% | ▼ −1.22% | $88.98 (+2.23%) |
|
Apr 8, 2026
9w ago
|
Press Release
| $84.21 $89.20 | ▲ +5.93% | ▼ −1.64% | $88.98 (+5.66%) |
|
Apr 1, 2026
10w ago
|
Press Release
| $86.65 $91.91 | ▲ +6.07% | ▼ −3.81% | $88.98 (+2.69%) |
|
Mar 23, 2026
11w ago
|
Press Release
| $86.40 $87.60 | ▲ +1.39% | ▼ −6.03% | $88.98 (+2.99%) |
|
Mar 2, 2026
14w ago
|
Insider Cluster
| $87.81 $83.52 | ▼ −4.89% | ▲ +3.05% | $88.98 (+1.33%) |
US Market Status
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