Adena T Friedman sold $29M of NDAQ
Chair and CEO at NASDAQ, INC.. 300,000 shares at an average of $96.39, traded Jan 2, 2026, filed Jan 6, 2026.
Score components
- +25RoleCEO
- +25Trade size$28.9M at market
- +5Share of holdings soldSold 13% of holdings
- +8Cluster2 insiders selling within 14 days
- -15Exercise and sellShares came from an option exercise in the same filing
- -2010b5-1 planPre-scheduled under a 10b5-1 plan
What happened after comparable sells
Same side and tier, against the S&P 500, at 1, 3 and 6 months. Shown to Pro users; the whole table is on the backtest page.
This signal so far: 1m -15.1%, 3m -13.9%, 6m -13.6%.
Price around the trade, and since
From a quarter before the trade to today. The arrow is the trade, the circle the day the filing reached EDGAR, which is the first day anyone outside could act; the dotted line is the S&P 500 rebased to that day's close.
Daily candles, adjusted for splits and dividends. Green arrows are insider buys, red are sells, sized by value; the dashed line is the close on the filing day, the dotted line SPY rebased to it.Charts by TradingView Lightweight Charts™
Rows in this filing
Every transaction in Form 4 0001193125-26-004362, as filed. Open on EDGAR
| Date | Transaction | Shares | Price | Value | Holdings after | Filed |
|---|---|---|---|---|---|---|
| Jan 2, 2026 | MOption exercise Common Stock, par value $0.01 per share10b5-1 | +300,000 | $22.22 | $6.7M | 2,224,903 | Jan 6, 2026 |
| Jan 2, 2026 | SOpen-market sale Common Stock, par value $0.01 per share10b5-1 | -300,000 | $96.39 | $29M | 1,924,903 | Jan 6, 2026 |
| Jan 2, 2026 | MOption exercise Employee Stock Option (Right to Buy)derivative10b5-1 | -300,000 | $0.00 | $0 | 506,451 | Jan 6, 2026 |
Related signals
Other insiders at NASDAQ, INC. and this insider’s other filings.
| Score | Company | Insider | Value | Holdings | Filed |
|---|---|---|---|---|---|
| 5Weak | NASDAQ, INC. | Jeremy Skule EVP, CSO | $107k 1,125 shares | -1% | |
| 5Weak | NASDAQ, INC. | Jeremy Skule EVP, CSO | $106k 1,125 shares | -1% | |
| 44Moderate | NASDAQ, INC. | PC Nelson Griggs Pres. Capital Access Platforms | $310k 3,226 shares | -2% | |
| 22Weak | NASDAQ, INC. | Jeremy Skule EVP, CSO | $213k 2,250 shares | -2% | |
| 49Moderate | NASDAQ, INC. | Bradley J Peterson EVP, CIO | $573k 6,000 shares | -5% | |
| 21Weak | NASDAQ, INC. | Bryan Everard Smith EVP, CPO | $148k 1,556 shares | -2% | |
| 55Moderate | NASDAQ, INC. | PC Nelson Griggs Pres. Capital Access Platforms | $1.1M 11,010 shares | -5% | |
| 55Moderate | NASDAQ, INC. | PC Nelson Griggs Pres. Capital Access Platforms | $1.7M 17,787 shares | -8% | |
| 55Moderate | NASDAQ, INC. | Bradley J Peterson EVP, CIO | $1.2M 13,000 shares | -9% | |
| 8Weak | NASDAQ, INC. | Bryan Everard Smith EVP, CPO | $240k 3,000 shares | -4% |
Not investment advice. Scores and forward returns are decision support built from public SEC filings and past prices; they describe what happened after comparable filings, not what will happen after this one. Do your own research and size your risk.