Insider and congress filings

Nasdaq, Inc. (NDAQ)

NASDAQ · Financial Services · 383 insider transactions · 112 congress trades · last filed 4 days agoS&P 500

20
Open-market insider filings shown
2d
Median delay on the insider filings, in business days
within the two business day rule
1 buy·19 sells
Purchases and sales in the filings shown
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About Nasdaq, Inc.

from the company's filings and listing, as of Oct 24, 2026
Exchange
NASDAQ
Sector
Financial Services
Industry
Financial - Data & Stock Exchanges
Chief executive
Adena T. Friedman
Employees
9,525
Listed since
Jul 1, 2002
Market value
$57.3B
Price to earnings (12 mo)
27.7
Net income per share, as reported (12 mo)
$3.73
Dividend yield
1.13%

www.nasdaq.com

Earnings

6 reported quarters · next on Feb 4, 2027
QuarterEPSEPS expectedRevenueRevenue expectedResult
Q3 FY2026reported Oct 22, 2026$1.04$1.02$1.5B$1.5BEPS beatRevenue in line
Q2 FY2026reported Jul 23, 2026$1.07$0.98$1.5B$1.5BEPS beatRevenue beat
Q1 FY2026reported Apr 23, 2026$0.96$0.93$1.4B$1.4BEPS beatRevenue beat
Q4 FY2025reported Jan 29, 2026$0.96$0.92$1.4B$1.4BEPS beatRevenue beat
Q3 FY2025reported Oct 21, 2025$0.88$0.85$2.0Bn/aEPS beatRevenue n/a
Q2 FY2025reported Jul 24, 2025$0.85$0.81$1.3B$1.3BEPS beatRevenue beat

Actual against the consensus estimate at the time. A flag marks a beat or a miss of more than 1.5% either way; inside that band the quarter is in line. A figure or flag reads n/a when a number is missing, or when the figure failed our check against the company's other quarters, its own filings and its share splits, and was left out. Quarterly EPS is the figure set against the consensus, usually adjusted, so the quarters need not add up to the 12-month net income per share above. An estimate is a forecast made by analysts, not a company target.

Executive pay

as filed for fiscal 2025 · proxy filed Apr 24, 2026
ExecutiveSalaryStock awardsOtherTotal
Adena T. FriedmanChair and CEO$1.4M$17.5M$6.2M$25.0M
Tal CohenPresident$737K$14.7M$2.0M$17.4M
Sarah YoungwoodEVP and CFO$737K$7.0M$2.2M$9.9M
P.C. Nelson GriggsPresident$737K$5.2M$2.4M$8.4M
Bradley J. PetersonEVP and CIO/CTO$650K$3.7M$1.7M$6.1M

The summary compensation table from the proxy statement for fiscal 2025, with titles as filed then. Executives who have since left are not shown. Read the filing

Institutional holders

13F positions as of Jun 30, 2026
HolderValueSharesShares vs prior qtr% of shares out
Investor AB$4.6B58,439,208+0.1%10.36%
BlackRock, Inc.$2.9B37,194,072-2.6%6.59%
Vanguard Capital Management LLC$2.5B31,225,6140.0%5.53%
Wellington Management Group LLP$2.4B30,332,286-16.4%5.38%
Vanguard Portfolio Management LLC$2.1B26,091,5200.0%4.62%
Massachusetts Financial Services Co$1.8B23,259,539-20.0%4.12%
State Street Corp$1.6B20,181,861+2.4%3.56%
Geode Capital Management, LLC$1.0B13,121,054+1.1%2.33%
Morgan Stanley$895.1M11,355,733+10.7%2.01%
Franklin Templeton Inc$717.6M9,104,529-0.8%1.61%
Harris Associates L.P.$637.9M8,092,686+1.0%1.43%
UBS Group AG$621.4M7,883,784+12.8%1.40%

A 13F reports long US equity positions and is filed within 45 days of the quarter end, so these are positions as they stood on Jun 30, 2026. For a manager's whole book see the fund directory. What a 13F covers and leaves out is explained in our guide to Form 13F.

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Open-market insider trades

20 filings shown · newest filing first
InsiderActionSharesPriceValueTrade dateDelay
(business days)
Jeremy SkuleEVP, CSOSold · scheduled1,125$95.00$107KOct 20, 2026filed Oct 22, 20262d
Jeremy SkuleEVP, CSOSold · scheduled1,125$94.13$106KOct 12, 2026filed Oct 14, 20262d
Jeremy SkuleEVP, CSOSold · scheduled1,125$95.00$107KSep 22, 2026filed Sep 24, 20262d
Jeremy SkuleEVP, CSOSold · scheduled1,125$94.22$106KSep 10, 2026filed Sep 14, 20262d
PC Nelson GriggsPres. Capital Access PlatformsSold3,226$96.16$310KAug 10, 2026filed Aug 12, 20262d
Jeremy SkuleEVP, CSOSold · scheduled2,250$94.75$213KAug 10, 2026filed Aug 12, 20262d
Bradley J. PetersonEVP, CIOSold6,000$95.55$573KAug 7, 2026filed Aug 11, 20262d
Bryan Everard SmithEVP, CPOSold · scheduled1,556$95.07$148KAug 3, 2026filed Aug 5, 20262d
PC Nelson GriggsPres. Capital Access PlatformsSold11,010$96.35$1.1MJul 29, 2026filed Jul 31, 20262d
PC Nelson GriggsPres. Capital Access PlatformsSold11,010$93.96$1.0MJul 27, 2026filed Jul 28, 20261d
PC Nelson GriggsPres. Capital Access PlatformsSold6,777$92.53$627KJul 24, 2026filed Jul 28, 20262d
Bradley J. PetersonEVP, CIOSold13,000$92.61$1.2MJul 24, 2026filed Jul 28, 20262d
Bryan Everard SmithEVP, CPOSold · scheduled3,000$80.00$240KJul 1, 2026filed Jul 2, 20261d
Bryan Everard SmithEVP, CPOSold · scheduled3,000$86.91$261KJun 11, 2026filed Jun 15, 20262d
Investor AB10% ownerBought56,782$85.98$4.9MJun 11, 2026filed Jun 15, 20262d
PC Nelson GriggsPres. Capital Access PlatformsSold5,093$92.62$472KMay 18, 2026filed May 20, 20262d
Bradley J. PetersonEVP, CIOSold7,710$90.82$700KApr 28, 2026filed Apr 30, 20262d
Tal CohenPres. Market PlatformsSold15,518$90.75$1.4MApr 27, 2026filed Apr 29, 20262d
Michelle Lynn DalySVP, Controller & PAOSold · 2 lines1,323$88.82$118KApr 24, 2026filed Apr 28, 20262d
Adena T. FriedmanChair and CEOSold · scheduled113,611$85.44$9.7MApr 1, 2026filed Apr 2, 20261d

One row is one filing, newest filing first. A filing that reported its trade in several tranches is summed, priced at the weighted average, and marked with its line count. Scheduled: set up in advance under a Rule 10b5-1 trading plan. The delay counts business days from the trade to the filing, the unit of Form 4's two business day deadline: weekends and federal holidays are skipped. How the filing itself works is explained in our guide to Form 4.

Other Form 4 activity (20)
InsiderEventSharesDate
Jeremy SkuleEVP, CSOTax withholding1,262Oct 1, 2026
Essa KazimDirectorTax withholding622Jun 11, 2026
Essa KazimDirectorStock award4,151Jun 10, 2026
Johan TorgebyDirectorTax withholding300Jun 11, 2026
Johan TorgebyDirectorStock award2,998Jun 10, 2026
Michael R. SplinterDirectorStock award5,246Jun 10, 2026
Melissa ArnoldiDirectorStock award4,324Jun 10, 2026
Toni Townes-WhitleyDirectorStock award2,998Jun 10, 2026
Thomas A. KloetDirectorStock award4,554Jun 10, 2026
Alfred W. ZollarDirectorStock award4,497Jun 10, 2026
Kathryn A. KochDirectorStock award3,171Jun 10, 2026
Charlene T. BegleyDirectorStock award2,998Jun 10, 2026
Jeffery W. YabukiDirectorStock award4,612Jun 10, 2026
Paul Holden Spaht Jr.DirectorStock award2,998Jun 10, 2026
John ZeccaEVP, Global CLOTax withholding780Apr 3, 2026
PC Nelson GriggsPres. Capital Access PlatformsTax withholding1,565Apr 3, 2026
Tal CohenPres. Market PlatformsTax withholding1,565Apr 3, 2026
Bryan Everard SmithEVP, CPOTax withholding813Apr 3, 2026
Jeremy SkuleEVP, CSOTax withholding1,017Apr 3, 2026
Bradley J. PetersonEVP, CIOTax withholding1,499Apr 3, 2026

Awards, option exercises, shares withheld to cover tax and gifts all file on the same form as a purchase or a sale. None of them is a decision to trade, so they sit here rather than beside the ones that are.

Congress trades in NDAQ

20 disclosures of 112 on record · median 19d of the 45 allowed

Since the trade: the stock's move from the trade date to the latest close we hold (figures as of Oct 25, 2026), not the member's result. Not investment advice.

MemberTypeActionAmount disclosedStock since the tradeTrade dateDisclosedDelay
April McClain DelaneyDependent childStockSale$100,001 - $250,000+3.9%After the saleS&P 500 -0.8% · +4.7 pts vs S&P 500Aug 25, 2026Sep 9, 202615d
Alan ArmstrongSelfStockSale (Full)$50,001 - $100,000+25.9%After the saleS&P 500 +19.8% · +6.0 pts vs S&P 500Mar 27, 2026Jul 21, 2026116d
Ro KhannaStockPurchase$1,001 - $15,000+13.3%S&P 500 +1.3% · +12.0 pts vs S&P 500May 27, 2026Jun 9, 202613d
Ro KhannaStockPurchase$1,001 - $15,000+19.1%S&P 500 +10.8% · +8.3 pts vs S&P 500Apr 13, 2026May 11, 202628d
Ro KhannaStockSale$1,001 - $15,000+19.1%After the saleS&P 500 +10.8% · +8.3 pts vs S&P 500Apr 13, 2026May 11, 202628d
Ro KhannaStockSale$1,001 - $15,000+18.7%After the saleS&P 500 +6.8% · +11.9 pts vs S&P 500Apr 22, 2026May 11, 202619d
Ro KhannaStockSale$15,001 - $50,000+14.1%After the saleS&P 500 +6.4% · +7.7 pts vs S&P 500Apr 24, 2026May 11, 202617d
April McClain DelaneyDependent childStockPurchase$1,001 - $15,000+14.1%S&P 500 +6.4% · +7.7 pts vs S&P 500Apr 24, 2026May 6, 202612d
Ro KhannaStockSale$1,001 - $15,000+22.8%After the saleS&P 500 +20.3% · +2.5 pts vs S&P 500Mar 30, 2026Apr 7, 20268d
Ro KhannaStockSale$1,001 - $15,000+21.7%After the saleS&P 500 +16.0% · +5.7 pts vs S&P 500Mar 24, 2026Apr 7, 202614d
Ro KhannaStockSale$1,001 - $15,000+22.5%After the saleS&P 500 +15.3% · +7.1 pts vs S&P 500Mar 25, 2026Apr 7, 202613d
April McClain DelaneyDependent childStockPurchase$1,001 - $15,000+17.3%S&P 500 +11.6% · +5.7 pts vs S&P 500Mar 3, 2026Apr 6, 202634d
April McClain DelaneyDependent childStockPurchase$1,001 - $15,000+15.1%S&P 500 +10.9% · +4.2 pts vs S&P 500Mar 4, 2026Apr 6, 202633d
April McClain DelaneyDependent childStockPurchase$1,001 - $15,000+16.5%S&P 500 +12.0% · +4.5 pts vs S&P 500Mar 9, 2026Apr 6, 202628d
April McClain DelaneyDependent childStockPurchase$1,001 - $15,000+17.1%S&P 500 +12.2% · +4.9 pts vs S&P 500Mar 10, 2026Apr 6, 202627d
April McClain DelaneyDependent childStockPurchase$1,001 - $15,000+20.0%S&P 500 +14.8% · +5.2 pts vs S&P 500Mar 18, 2026Apr 6, 202619d
April McClain DelaneyDependent childStockPurchase$1,001 - $15,000+20.8%S&P 500 +16.9% · +3.9 pts vs S&P 500Mar 31, 2026Apr 6, 20266d
April McClain DelaneyDependent childStockPurchase$1,001 - $15,000+17.1%S&P 500 +10.7% · +6.4 pts vs S&P 500Feb 27, 2026Mar 10, 202611d
Ro KhannaStockSale$1,001 - $15,000+19.9%After the saleS&P 500 +12.1% · +7.8 pts vs S&P 500Feb 5, 2026Mar 9, 202632d
Ro KhannaStockSale$15,001 - $50,000+20.9%After the saleS&P 500 +10.0% · +10.9 pts vs S&P 500Feb 6, 2026Mar 9, 202631d

Since the trade is an estimate, set beside the S&P 500 over the same window, with the gap between the two in percentage points. The filing carries a band, not a fill, and a sale keeps the stock's sign, so a positive figure after a sale means the stock kept rising after it. An option row carries the underlying stock's move. A row marked n/a is one we hold no figure for.

A delay above 45 days is the gap between the dates on the report; we mark a filing late only after checking it.

Every Congress trade in NDAQ, filterable by party, chamber, type and account.

Members of Congress reporting a position

3 members · estimate, as of Oct 22, 2026

3 members report a position (estimated). The largest estimated position is in the $15,001 - $50,000 band.

MemberParty, chamberEstimated positionShare of their portfolio
Robert BresnahanRepublican · House$15,001 - $50,0000.1%
Julie JohnsonDemocrat · House$1,001 - $15,0000.1%
Rick LarsenDemocrat · House$1,001 - $15,0001.3%

Estimate, as of Oct 22, 2026. Each position is modelled from the member's disclosed transactions and annual filings: the midpoint of each disclosed band, moved with the stock's price since the trade. It is a rough estimate of a reported position, not a figure from a filing, which is why it is shown as a band. Share of portfolio sets that estimate against the member's whole estimated public-stock portfolio.

Questions

Are insiders buying or selling NDAQ?

Across the 20 most recent open-market filings shown here, 1 was a purchase and 19 were sales. 9 were scheduled in advance under a Rule 10b5-1 plan.

Which members of Congress have traded NDAQ?

April McClain Delaney, Alan Armstrong and Ro Khanna disclosed NDAQ transactions in the filings shown here.

Which members of Congress hold NDAQ?

3 members of Congress report a position in NDAQ in the estimate we hold as of Oct 22, 2026. The estimated positions belong to Robert Bresnahan, Julie Johnson and Rick Larsen. The estimate is built from disclosed transactions and annual filings, so it is shown as a band rather than a figure from a filing.

Is NDAQ in the S&P 500 or the Nasdaq 100?

Nasdaq, Inc. is a current member of the S&P 500, per the membership list we hold as of Oct 26, 2026. Current members of either index get a page here whatever their filing history.

How quickly are NDAQ trades disclosed?

Insider filings on this page reached the public a median of 2 business days after the transaction (weekends and federal holidays skipped), against the two business days Form 4 allows. Congressional disclosures took a median of 19 days, against the 45 the STOCK Act allows.

How to read a Form 4

A DECISION THE INSIDER MADE

POpen-market purchase. Bought with their own money at the market price.
SOpen-market sale. Sold on the market. A sale marked scheduled was set up in advance under a Rule 10b5-1 plan, often months before.

COMPENSATION PLUMBING

AStock award. Granted as pay, not bought.
MOption exercise. Converting options already held into shares.
FTax withholding. Shares handed back to the company to pay the tax on a grant.
GGift. Given away, with no money changing hands.

Congress rows disclose a value range rather than an exact amount, and the STOCK Act allows up to 45 days to report. Full sourcing and the limits of this data are on the methodology page. A filing is a record of a transaction, not a signal, and nothing here is investment advice.

Data as of Oct 26, 2026.

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