Tal Cohen 4

What Happened Tal Cohen, President of Market Platforms at NASDAQ, sold 15,518 shares of NDAQ in open-market transactions on April 27, 2026. The weighted-average sale price was $90.75, generating proceeds of approximately $1,408,259. The filing reports the shares were sold in multiple tranches at prices ranging from $90.51 to $91.09.

Key Details

• Transaction date: April 27, 2026; Form 4 filed April 29, 2026 (appears timely — within the 2‑business‑day reporting window).
• Sale type/code: S (sale, open market); weighted-average price $90.75; price range $90.51–$91.09 (reporting person can provide per‑trade breakdown on request).
• Proceeds: ~$1,408,259 for 15,518 shares.
• Shares/units reported in filing (beneficial holdings described in footnote): 126,563 restricted stock/units (53,203 vested); 87,017 shares underlying performance stock units (PSUs) (74,175 vested); and 1,628 shares purchased under the ESPP — total 215,208 shares/units referenced.
• No 10b5-1 plan, tax‑withholding, or late‑filing flag noted in the provided footnotes.

Context This disclosure documents a sale (a liquidity event) rather than a purchase; sales are common for insiders for diversification or cash needs and do not by themselves indicate company prospects. The filing does not show option exercises or awards being immediately cashed out — the sale was executed in the open market in multiple trades per the price range disclosed.