X0508 4 2026-01-02 0001120193 NASDAQ, INC. NDAQ 0001240169 FRIEDMAN ADENA T 151 W. 42ND STREET NEW YORK NY 10036 true true false false Chair and CEO true Common Stock, par value $0.01 per share 2026-01-02 4 M false 300000 22.22 A 2224903 D Common Stock, par value $0.01 per share 2026-01-02 4 S false 300000 96.39 D 1924903 D Common Stock, par value $0.01 per share 73500 I Held by the A.T. Friedman Irrevocable Trust No.1 Common Stock, par value $0.01 per share 73500 I Held by The A.T. Friedman Irrevocable Trust No.2 Employee Stock Option (Right to Buy) 22.22 2026-01-02 4 M false 300000 0 D 2027-01-03 Common Stock 300000 506451 D Employee Stock Option (Right to Buy) 67.48 2032-01-03 Common Stock 306936 306936 D The reported sale was effected pursuant to a Rule 10b5-1(c) trading plan adopted on September 11, 2025. The price reported in this box is a weighted average price. These shares were sold in multiple transactions at prices ranging from $95.82 to $97.07, inclusive. The reporting person undertakes to provide to Nasdaq, any security holder of Nasdaq or the staff of the U.S. Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. Represents (i) 440,450 shares or units of restricted stock, of which 314,204 are vested, (ii) 1,371,100 shares of Common Stock underlying PSUs, all of which are vested, (iii) 10,000 shares of Common Stock acquired through open market purchases, and (iv) 103,353 shares granted under the Issuer's Equity Incentive Plan or the Issuer's Employee Stock Purchase Plan when the reporting person was an employee of the Issuer prior to returning as President in 2014. Reflects shares gifted for estate planning purposes to a family trust for the benefit of the reporting person's child, of which the reporting person's spouse is the trustee and the reporting person's brother is the investment advisor. The option is currently exercisable. The option vests on January 3, 2027. /s/ Alex Kogan, by power of attorney 2026-01-06