X0508 4 2025-11-03 0001120193 NASDAQ, INC. NDAQ 0001736565 SKULE JEREMY 151 W. 42ND STREET NEW YORK NY 10036 false true false false EVP, CSO true Common Stock, par value $0.01 per share 2025-11-03 4 S false 2105 85.40 D 84974 D The reported sale was effected pursuant to a Rule 10b5-1(c) trading plan adopted on February 10, 2025. Represents (i) 37,622 shares or units of restricted stock, of which 5,781 are vested, (ii) 43,633 shares of Common Stock underlying PSUs, all of which are vested, and (iii) 3,719 shares of Common Stock purchased under the Issuer's Employee Stock Purchase Plan. /s/ Alex Kogan, by power of attorney 2025-11-05