Nasdaq NDAQ Insider Ownership

NASDAQ NDAQ

$94.80 +1.60 (+1.72%)

At close: Oct 20, 2026 · 4:00 PM EDT

Insider Holdings by Owner

164.54Mn Shares

Insider Ownership Statistics

as of 30 Sep, 2026

Insider Ownership

11.03%

▼-7.60% pp QoQ

Shares Held by Insiders

62.21Mn

filed for Sep 2026

▼-40.79% QoQ

Shares Outstanding

564.16Mn

564,155,965 shares

Direct Holdings

3.61Mn

Indirect: 58.60Mn

Net Shares Traded (QoQ)

-42.86Mn

net selling in Sep 2026

Insiders Holding Shares

with Form 4 holdings on file

Shares Owned by Insiders

Shares held % of outstanding

Latest —

Average ownership —

Peak ownership —

Shares Purchased/Sold by Insiders

Bought Sold

Latest quarter —

Net over range —

Buying quarters —

Insider Ownership Summary

Updated Oct 11, 2026

Over the past 12 months, Nasdaq insiders bought $21.68 million of stock on the open market (268.78K shares) and sold $86.76 million (922.86K shares).

Nasdaq's open-market purchases in the past 12 months came from 2 insiders, and its sales from 8 insiders.
Among Nasdaq's insiders, the largest open-market purchases in the past 12 months were by Investor AB (10% owner), totaling $20.72 million (256.78K shares), most recently on June 11, 2026.
On the selling side, Adena T. Friedman (Chair and CEO) was the top open-market seller of Nasdaq over the past 12 months, with $76.06 million sold (806.45K shares) and the latest sale on April 1, 2026.
The latest open-market trade on record is a sale of 1.12K shares for $106,875 by Jeremy Skule (EVP, CSO) on September 22, 2026.
Beyond open-market trades, insiders at Nasdaq received 558K shares in stock awards, acquired 806.45K shares through option exercises and conversions, gave up 266.31K shares to cover taxes or exercise prices and gave away 118.25K shares as gifts in the last 12 months.
According to Business Quant data, insiders at Nasdaq reported 62.21Mn shares in total in their latest Form 4 filings.
Of the 62.21Mn shares held by Nasdaq insiders, 3.61Mn shares (5.80%) are held directly and 58.6Mn shares (94.20%) indirectly, through trusts, partnerships, family members and other entities.
Per Business Quant, 21 insiders of NDAQ hold shares, counting officers, directors and 10% owners who have filed a Form 4 in the past two years.
Nasdaq's three biggest insider holders are Investor AB (10% owner, 58.44Mn shares), Adena T. Friedman (Chair and CEO, 2.13Mn shares) and Michael R. Splinter (Director, 233.21K shares), based on their latest Form 4 filings.
Of the shares held by NDAQ insiders, 93.94% belong to Investor AB.
Institutions accounted for 83.82% of NDAQ's outstanding shares in Q2 2026, insiders about 11.03% per their latest Form 4 filings, and other investors, including the public, about 5.15%.
In the last 12 months, 68 Form 4 filings with transactions in NDAQ stock came from 21 insiders.
The insider holdings and trades above for Nasdaq reflect Form 4 filings through October 5, 2026.

Form 4 Holdings

Insiders Holding NDAQ

Insiders 33

Shares held 164.54Mn

Of outstanding 29.17%

#	Insider	Position	Direct	Indirect	Total	Share of Insiders	Last Filed
1	Ab Investor	TenPercentOwner	0	58,439,208	58,439,208	35.5%	15 Jun, 2026
2	Dubai Ltd Borse	TenPercentOwner	58,341,545	0	58,341,545	35.5%	22 Mar, 2024
3	Seller, Lp Argus	TenPercentOwner	42,804,207	0	42,804,207	26.0%	30 Jul, 2024
4	Adena T Friedman	Chair And Ceo	1,983,866	0	1,983,866	1.2%	07 Apr, 2026
5	Cohen Tal	Pres. Market Platforms	445,934	0	445,934	0.3%	29 Apr, 2026
6	Bradley J Peterson	Evp, Cio	441,559	0	441,559	0.3%	11 Aug, 2026
7	Michael R Splinter	Director	217,988	0	217,988	0.1%	12 Jun, 2026
8	Pc Nelson Griggs	Pres. Capital Access Platforms	201,775	0	201,775	0.1%	12 Aug, 2026
9	Jeremy Skule	Evp, Cso	192,252	0	192,252	0.1%	14 Oct, 2026
10	John Zecca	Evp, Global Clo	153,334	0	153,334	0.1%	07 Apr, 2026
11	Steven D Black	Director	152,083	0	152,083	0.1%	23 Jun, 2023
12	Essa Kazim	Director	146,917	0	146,917	0.1%	12 Jun, 2026
13	Lauren B. Dillard	Executive Vice President	146,763	0	146,763	0.1%	05 Apr, 2022
14	Bjorn Sibbern	Executive Vice President	79,809	0	79,809	0.0%	08 Dec, 2022
15	Sarah Youngwood	Evp Cfo	74,558	0	74,558	0.0%	02 Apr, 2026
16	Bryan Everard Smith	Evp, Cpo	67,647	0	67,647	0.0%	05 Aug, 2026
17	Lars Ottersgard	Executive Vice President	66,999	0	66,999	0.0%	05 Apr, 2022
18	Ann M Dennison	Executive Vice President	59,359	0	59,359	0.0%	03 Nov, 2023
19	Alfred W Zollar	Director	58,281	0	58,281	0.0%	12 Jun, 2026
20	Melissa Arnoldi	Director	55,515	0	55,515	0.0%	12 Jun, 2026
21	John D Rainey	Director	51,795	0	51,795	0.0%	24 Jun, 2022
22	Charlene T Begley	Director	48,999	0	48,999	0.0%	12 Jun, 2026
23	Brendan Brothers	Executive Vice President	48,860	0	48,860	0.0%	04 Apr, 2024
24	Johan Torgeby	Director	43,495	0	43,495	0.0%	12 Jun, 2026
25	Roland Chai	Executive Vice President	37,894	0	37,894	0.0%	08 Dec, 2022
26	Oliver Albers	Executive Vice President	36,798	0	36,798	0.0%	04 Jan, 2023
27	Thomas A Kloet	Director	36,559	0	36,559	0.0%	12 Jun, 2026
28	Jacob Wallenberg	Director	27,381	0	27,381	0.0%	17 Jun, 2022
29	Toni Townes-Whitley	Director	23,469	0	23,469	0.0%	12 Jun, 2026
30	Jeffery W Yabuki	Director	22,959	0	22,959	0.0%	12 Jun, 2026
31	Paul Holden Jr. Spaht	Director	13,399	0	13,399	0.0%	12 Jun, 2026
32	Kathryn A. Koch	Director	10,743	0	10,743	0.0%	12 Jun, 2026
33	Michelle Lynn Daly	Svp, Controller Pao	10,089	0	10,089	0.0%	28 Apr, 2026

Each row is that insider’s most recently reported position, from Form 4 filings over the last 60 months — which is why this total does not tie to the quarterly series above, where a quarter counts only the insiders who filed in it. Shares held through a fund or institutional portfolio are counted on the institutional ownership page instead.

Form 4 Filings

2,543 Insider Transactions

Source SEC Form 4

Latest quarter Sep 2026

Date	Insider	Position	Transaction	Shares	Price	Value	Shares Held After	Ownership
12 Oct, 2026	Jeremy Skule	Evp, Cso	Disposed S	1,125	$94.13	$105.90K	97,686	Direct
01 Oct, 2026	Jeremy Skule	Evp, Cso	Disposed F	1,262	$92.01	$116.12K	98,811	Direct
22 Sep, 2026	Jeremy Skule	Evp, Cso	Disposed S	1,125	$95.00	$106.88K	100,073	Direct
10 Sep, 2026	Jeremy Skule	Evp, Cso	Disposed S	1,125	$94.22	$106.00K	101,198	Direct
10 Aug, 2026	Pc Nelson Griggs	Pres. Capital Access Platforms	Disposed S	3,226	$96.16	$310.21K	201,775	Direct
10 Aug, 2026	Jeremy Skule	Evp, Cso	Disposed S	2,250	$94.75	$213.19K	102,323	Direct
07 Aug, 2026	Bradley J Peterson	Evp, Cio	Disposed S	6,000	$95.55	$573.30K	122,293	Direct
03 Aug, 2026	Bryan Everard Smith	Evp, Cpo	Disposed S	1,556	$95.07	$147.93K	67,647	Direct
29 Jul, 2026	Pc Nelson Griggs	Pres. Capital Access Platforms	Disposed S	11,010	$96.35	$1.06Mn	205,001	Direct
24 Jul, 2026	Pc Nelson Griggs	Pres. Capital Access Platforms	Disposed S	6,777	$92.53	$627.08K	227,021	Direct
24 Jul, 2026	Bradley J Peterson	Evp, Cio	Disposed S	13,000	$92.61	$1.20Mn	128,293	Direct
27 Jul, 2026	Pc Nelson Griggs	Pres. Capital Access Platforms	Disposed S	11,010	$93.96	$1.03Mn	216,011	Direct
01 Jul, 2026	Bryan Everard Smith	Evp, Cpo	Disposed S	3,000	$80.00	$240.00K	69,203	Direct
11 Jun, 2026	Ab Investor	TenPercentOwner	Acquired P	56,782	$85.98	$4.88Mn	58,439,208	Indirect
11 Jun, 2026	Bryan Everard Smith	Evp, Cpo	Disposed S	3,000	$86.91	$260.73K	71,944	Direct
10 Jun, 2026	Michael R Splinter	Director	Acquired A	5,246	$0.00	$0	217,988	Direct
10 Jun, 2026	Alfred W Zollar	Director	Acquired A	4,497	$0.00	$0	58,281	Direct
10 Jun, 2026	Paul Holden Jr. Spaht	Director	Acquired A	2,998	$0.00	$0	13,399	Direct
10 Jun, 2026	Charlene T Begley	Director	Acquired A	2,998	$0.00	$0	48,999	Direct
10 Jun, 2026	Toni Townes-Whitley	Director	Acquired A	2,998	$0.00	$0	23,469	Direct

Showing 1 to 20 of 2,543 transactions