X0508 4 2025-12-01 0001120193 NASDAQ, INC. NDAQ 0001799366 Smith Bryan Everard 151 W. 42ND STREET NEW YORK NY 10036 false true false false EVP, CPO true Common Stock, par value $0.01 per share 2025-12-01 4 S false 4633 90.57 D 57670 D The reported sale was effected pursuant to a Rule 10b5-1(c) trading plan adopted on August 29, 2025. Represents (i) 20,871 shares or units of restricted stock, of which 1,465 are vested, (ii) 32,176 shares of Common Stock underlying PSUs, all of which are vested, and (iii) 4,623 shares of Common Stock purchased under the Issuer's Employee Stock Purchase Plan. /s/ Alex Kogan, by power of attorney 2025-12-03