CompBrief BY VELARION

Companies Nasdaq

Nasdaq (NDAQ): executive pay, fiscal 2025

Free brief. Every figure links to the company’s own filing.

Velarion Intel: free for 3 days, no card →

Email me Nasdaq’s executive pay brief as a PDF

You get it on this page the moment you ask, and a copy by email. Every figure is cited to its filing.

After the PDF, up to three short notes on the deeper reports for this company. Reply “unsubscribe” to any of them, any time.

Also free: The Pay Desk, the weekly executive pay briefing.
CEO total pay$25,014,550CEO Adena Friedman · source
Say-on-pay support96.04%Latest vote · source
CEO vs. named peers52nd pct.Of 26 peer CEOs
CEO pay ratio246:1To the median employee · source

CEO pay, last three years

  • $18,498,752FY2023
  • $21,518,170FY2024
  • $25,014,550FY2025

CEO total pay was $25,014,550 in fiscal 2025, up from $21,518,170 in fiscal 2024.

FY2025: salary $1,359,616 · bonus $0 · stock awards $17,491,321 · option awards $0

Executives and directors

Adena Friedman · CEOBradley J. Peterson · EVPP.C. Nelson Griggs · PresidentSarah Youngwood · CFOTal Cohen · PresidentAlfred W. Zollar · Independent DirectorCharlene T. Begley · Independent DirectorEssa Kazim · Independent DirectorHolden Spaht · Independent DirectorJeffery W. Yabuki · Independent DirectorJohan Torgeby · Independent DirectorKathryn A. Koch · Independent DirectorMelissa M. Arnoldi · Independent DirectorMichael R. Splinter · Lead Independent DirectorThomas A. Kloet · Independent DirectorToni Townes-Whitley · Independent Director

Frequently asked questions

Who was the highest-paid executive at Nasdaq in fiscal 2025?
As disclosed, Adena Friedman (Chair and CEO) was the highest-paid executive at Nasdaq in fiscal 2025, with total compensation of $25,014,550.
How does Nasdaq's chief executive pay compare to its disclosed peer group?
As disclosed, Adena Friedman's total compensation ranked at the 52nd percentile of Nasdaq's disclosed peer group.
What is Nasdaq's CEO-to-median employee pay ratio?
As disclosed, Nasdaq's CEO-to-median employee pay ratio was 246:1.
How did shareholders vote on Nasdaq's executive compensation?
As disclosed, 96.04% of shareholders supported Nasdaq's executive compensation in the latest say-on-pay vote.
How much does Nasdaq spend in total on board compensation for fiscal 2025?
As disclosed, Nasdaq reported total board compensation of $4,410,377 for fiscal 2025.

Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.

Full detail

Every table from the filing. Open any section.

Summary compensation table
Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Adena Friedman$1,359,616$0$17,491,321$0$6,086,509$0$77,104$25,014,550
Chair and CEO
Tal Cohen736,539014,673,51601,921,885033,51517,365,455
President
Sarah Youngwood736,53906,996,50602,191,051021,0009,945,096
EVP and CFO
P.C. Nelson Griggs736,53905,247,32502,355,471021,0008,360,335
President
Bradley J. Peterson650,00003,731,41801,701,461035,6956,118,574
EVP and CIO/CTO

A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.

Three-year trend — total compensation per named executive

Named executive officerFY2025 totalFY2024 totalFY2023 totalΔ FY2024→2025
Adena Friedman$25,014,550$21,518,170$18,498,752↑ +3,496,380
Tal Cohen17,365,4557,246,1774,470,576↑ +10,119,278
Sarah Youngwood9,945,0962,625,15811,546,191↑ +7,319,938
P.C. Nelson Griggs8,360,3357,782,834—↑ +577,501
Bradley J. Peterson6,118,5745,542,438—↑ +576,136

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

Incentive-plan design — the Compensation Discussion & Analysis

Nasdaq's compensation philosophy is designed to support the Company's growth strategy and create long-term shareholder value by aligning executive pay with performance.

CEO STI target (% of salary)300%
CEO LTI target (% of salary)—
Independent consultantExequity
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingtrue
Equity grants and outstanding awards

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Tal CohenPSU2025-04-01—46,028—92,056$4,254,368
Sarah YoungwoodPSU2025-04-01—63,124—126,2485,834,551
P.C. Nelson GriggsPSU2025-04-01—47,343—94,6864,375,913
Tal CohenRSU2025-04-01——46,028—3,422,642
Adena FriedmanRSU2025-04-01——39,452—2,904,851
Bradley J. PetersonRSU2025-04-01——8,416—619,670
Bradley J. PetersonPSU2025-04-01—33,666—67,3323,111,748
Tal CohenPSU2025-04-01—63,124—126,2485,834,551
Adena FriedmanPSU2025-04-01—157,811—315,62214,586,471
Sarah YoungwoodRSU2025-04-01——15,781—1,161,955
P.C. Nelson GriggsRSU2025-04-01——11,835—871,411
Tal CohenRSU2025-04-01——15,781—1,161,955

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Tal Cohen$4,584,597$10,088,919$068.8%
Sarah Youngwood1,161,9555,834,551083.4%
P.C. Nelson Griggs871,4114,375,913083.4%
Adena Friedman2,904,85114,586,471083.4%
Bradley J. Peterson619,6703,111,748083.4%

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Tal CohenRSU2,196—$213,297
Bradley J. PetersonRSU2,196—213,297
Tal CohenRSU6,128—595,213
Bradley J. PetersonRSU6,128—595,213
Bradley J. PetersonRSU8,416—817,446
Bradley J. PetersonRSU9,632—935,556
Tal CohenRSU11,835—1,149,534
Tal CohenRSU12,842—1,247,343
Tal CohenRSU12,843—1,247,441
Adena FriedmanRSU13,191—1,281,242
Sarah YoungwoodRSU15,781—1,532,809
Tal CohenRSU15,781—1,532,809
Sarah YoungwoodRSU29,847—2,899,039
Adena FriedmanRSU31,863—3,094,853
Adena FriedmanRSU39,452—3,831,973
Adena FriedmanRSU41,740—4,054,206
Tal CohenRSU46,028—4,470,700
Bradley J. PetersonPSU67,332—6,539,957
Bradley J. PetersonPSU67,426—6,549,087
Tal CohenPSU89,902—8,732,181
Tal CohenPSU92,056—8,941,399
Tal CohenPSU94,686—9,196,851
Sarah YoungwoodPSU126,248—12,262,468
Tal CohenPSU126,248—12,262,468
Sarah YoungwoodPSU179,082—17,394,235
Adena FriedmanPSU292,180—28,379,443
Adena FriedmanPSU315,622—30,656,365
Adena FriedmanOption613,87267.48—
Director compensation
DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Thomas A. KloetIndependent · Audit (Chair)$0$390,719——$165,000$555,719
Michael R. SplinterIndependent · Lead Independent Director · Management Compensation · Nominating & Governance0450,156——0450,156
Melissa M. ArnoldiIndependent · Finance · Management Compensation42,500370,964——0413,464
Jeffery W. YabukiIndependent · Management Compensation (Chair) · Nominating & Governance0395,701——0395,701
Charlene T. BegleyIndependent · Audit · Nominating & Governance (Chair)132,500257,244——0389,744
Alfred W. ZollarIndependent · Audit · Nominating & Governance0385,738——0385,738
Toni Townes-WhitleyIndependent · Audit · Management Compensation122,500257,244——0379,744
Johan TorgebyIndependent · Finance (Chair)110,000257,244——0367,244
Kathryn A. KochIndependent · Management Compensation92,500272,018——0364,518
Essa KazimIndependent · Finance0356,105——0356,105
Holden SpahtIndependent · Finance95,000257,244——0352,244
Adena T. FriedmanEmployee director · Board Chair · Finance—————0

Board fee structure and ownership guideline

Annual cash retainer$90,000
Annual equity retainer$260,000
Per board meeting fee—
Committee chair fees (audit / comp / nom-gov)45,000 / 35,000 / 25,000
Stock ownership guideline$520,000

Total cost of the board

ComponentFY2025
Cash retainers and fees$595,000
Equity awards (grant-date value)$3,650,377
All other compensation$165,000
Total cost of the board$4,410,377

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

Peer group, and who names Nasdaq as a peer

Companies that benchmark against NDAQ

15 companies name NDAQ as a compensation peer

Each company listed discloses NDAQ in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named NDAQ in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

Disclosed peer group — fiscal year 2025

The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.

CME CME Group Inc.WDAY Workday, Inc.BGC BGC Group, Inc.VRSK Verisk Analytics, Inc.LSE London Stock Exchange Group plcNOW ServiceNow, Inc.DFS Discover Financial ServicesCBOE Cboe Global Markets, Inc.ICE Intercontinental Exchange, Inc.FDS FactSet Research Systems Inc.SPGI S&P Global Inc.MCO Moody's CorporationMSCI MSCI Inc.SCHW The Charles Schwab CorporationFIS Fidelity National Information Services, Inc.MA Mastercard IncorporatedFI Fiserv, Inc.PYPL PayPal Holdings, Inc.GPN Global Payments Inc.V Visa Inc.ADBE Adobe Inc.INTU Intuit Inc.ADSK Autodesk, Inc.GEN Gen Digital Inc.DB1 Deutsche Börse AGXTB TMX Group Limited

Peer reciprocity

Of the companies Nasdaq names as compensation peers, which name it back in their own disclosed peer groups. A peer set the market reciprocates reads differently from one selected in a single direction.

✓ CME Group Inc. (CME)98— Workday, Inc. (WDAY)99✓ BGC Group, Inc. (BGC)100✓ Verisk Analytics, Inc. (VRSK)101 London Stock Exchange Group plc (LSE) ServiceNow, Inc. (NOW)— Discover Financial Services (DFS)102✓ Cboe Global Markets, Inc. (CBOE)103 Intercontinental Exchange, Inc. (ICE)✓ FactSet Research Systems Inc. (FDS)104— S&P Global Inc. (SPGI)105✓ Moody's Corporation (MCO)106✓ MSCI Inc. (MSCI)107— The Charles Schwab Corporation (SCHW)108✓ Fidelity National Information Services, Inc. (FIS)109— Mastercard Incorporated (MA)110✓ Fiserv, Inc. (FI)111— PayPal Holdings, Inc. (PYPL)112— Global Payments Inc. (GPN)113— Visa Inc. (V)114 Adobe Inc. (ADBE)— Intuit Inc. (INTU)115— Autodesk, Inc. (ADSK)116 Gen Digital Inc. (GEN) Deutsche Börse AG (DB1) TMX Group Limited (XTB)

Reciprocity shown where the peer’s own current proxy has been read — each mark is cited in the register to that peer’s filing. A dash means the peer’s current proxy was read and names no reciprocal group including Nasdaq.

Chief executive pay against the peer group

Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company’s own proxy statement.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1Gen Digital Inc.2026Vincent Pilette$986,538$80,495,844$0$2,025,000$83,582,308
2Fiserv, Inc.2025Michael Lyons1,214,23655,881,2790070,341,992
3FactSet Research Systems Inc.2026Sanoke Viswanathan980,76922,708,86122,000,0633,235,29062,046,674
4ServiceNow, Inc.2025William McDermott1,516,66743,481,65103,522,37551,550,957
5Adobe Inc.2025Shantanu Narayen1,500,00045,376,11003,120,00051,173,935
6Intuit Inc.2025Sasan Goodarzi1,300,00024,285,3848,650,1682,600,00036,845,552
7Mastercard Incorporated2025Michael Miebach1,375,00020,711,4564,950,0097,957,95035,422,518
8Msci Inc.2025Henry A. Fernandez1,000,0004,380,02425,220,3041,346,95033,320,590
9Visa Inc.2025Ryan McInerney1,505,78218,723,3065,687,5095,250,00031,560,660
10Autodesk, Inc.2026Andrew Anagnost1,040,00027,242,33001,717,56030,091,165
11PayPal Holdings, Inc.2025Alex Chriss1,325,34223,365,2940025,243,486
12Nasdaq2025Adena Friedman1,359,61617,491,32106,086,50925,014,550
13CME Group Inc.2025Terrence Duffy2,000,00013,319,86007,128,83123,394,854
14Fidelity National Information Services, Inc.2025Stephanie Ferris1,250,00018,741,36702,812,50022,928,412
15Intercontinental Exchange, Inc.2025Jeffrey Sprecher1,395,83316,666,55304,050,00022,133,386
16Global Payments Inc.2025Cameron Bready1,050,00012,129,9644,002,0222,903,55320,307,392
17Workday, Inc.2026Aneel Bhusri65,00015,322,0670019,231,325
18The Charles Schwab Corporation2025Richard Wurster1,248,4687,612,5535,075,0194,727,41618,755,222
19Cboe Global Markets, Inc.2025Craig Donohue846,97014,742,57402,553,69918,347,037
20Moody's Corporation2025Robert Fauber1,100,00011,359,9032,840,0802,226,00018,082,565
21Verisk Analytics, Inc.2025Lee Shavel1,000,0008,800,0862,199,8811,500,00013,540,847
22S&P Global Inc.2025Martina Cheung1,000,0008,978,04102,445,30012,831,062
23BGC Group, Inc.2025John Abularrage750,0001,416,05706,400,00011,066,057
24Discover Financial Services2023John Owen343,462670,0110—2,188,651
—London Stock Exchange Group plc——————not in coverage universe
—Deutsche Börse AG——————not in coverage universe
—TMX Group Limited——————not in coverage universe

Each peer’s compensation is from its most recently filed proxy; fiscal years differ by company. Each peer’s figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
Nasdaq149%not disclosedYes — TSR relative to S&P 500 companiesExequity
Adobe Inc.104%PSU 70 · RSU 30YesCompensia, Inc.
Autodesk, Inc.110.1%PSU 60 · RSU 40Yes — Relative TSR (rTSR) over three-year performance periodExequity LLP
BGC Group, Inc.not disclosedRSU 100not disclosedKorn Ferry
Cboe Global Markets, Inc.not disclosedRSU 50 · PSU 50YesMeridian
CME Group Inc.not disclosedPSU 50 · RSU 50Yes — TSR relative to the S&P 500Meridian Compensation Partners, LLC
Deutsche Börse AGnot disclosednot disclosednot disclosednot disclosed
Discover Financial Servicesnot disclosedPSU 75 · RSU 25NoPay Governance
FactSet Research Systems Inc.not disclosedOption 50 · PSU 50not disclosedMeridian Compensation Partners
Fidelity National Information Services, Inc.100%PSU 50 · RSU 50Yes — Relative TSR vs S&P 500Meridian
Fiserv, Inc.not disclosedPSU 60 · RSU 40NoPay Governance, LLC
Gen Digital Inc.135%not disclosedYes — 3-year relative TSR vs. Nasdaq Composite IndexCompensia, Inc.
Global Payments Inc.138.3%PSU 50 · Options 25 · RSU 25Yes — Relative TSRFW Cook
Intercontinental Exchange, Inc.108%PSU 70 · RSU 30Yes — Company 3-Year TSR relative to S&P 500 3-Year TSRCompensation Advisory Partners (CAP)
Intuit Inc.not disclosedPSU 50 · RSU 25 · Options 25Yes — Relative TSR (60th percentile target)Frederic W. Cook & Co. (FW Cook)
London Stock Exchange Group plcnot disclosednot disclosednot disclosednot disclosed
Mastercard Incorporated227%PSU 60 · RSU 20 · Options 20NoFW Cook
Moody's Corporation101%PSU 60 · RSU 20 · Options 20NoMeridian
Msci Inc.96.21%not disclosedYes — Absolute TSR CAGRSemler Brossy
PayPal Holdings, Inc.98%PSU 50 · RSU 50Yes — rTSR vs S&P 500Compensia
S&P Global Inc.108.68%PSU 70 · RSU 30NoPay Governance
ServiceNow, Inc.not disclosedPSU 60 · RSU 40Yes — rTSR vs. S&P 500Pay Governance, LLC
The Charles Schwab Corporation116.5%PBRSU 60 · Option 40NoSemler Brossy
TMX Group Limitednot disclosednot disclosednot disclosednot disclosed
Verisk Analytics, Inc.not disclosedPSU 60 · RSU 20 · Options 20Yes — Relative TSR versus S&P 500 Index constituentsFW Cook
Visa Inc.140%PSU 50 · Option 25 · RSU 25Yes — Relative TSR vs. S&P 500Meridian
Workday, Inc.101.8%RSU 75 · PSU 25NoSemler Brossy

Read from each company’s Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company’s filing does not state the item.

Say-on-pay history and pay ratio
Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-06-10357,897,72713,506,4341,253,12896.04%Passed
20252025-06-11374,959,61715,236,7171,126,29895.82%Passed
20242024-06-11333,421,8048,540,999625,54497.32%Passed
20232023-06-21277,610,72016,213,058580,83794.3%Passed
20222022-06-2297,718,8234,114,43572,84195.89%Passed
20212021-06-1597,576,4565,643,91273,50694.46%Passed

Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year’s compensation.

Say-on-pay — history, company’s computation

Meeting yearMeeting dateApproval — company’s computation
20262026-06-1096.04%a
20252025-06-1195.82%b
20242024-06-1197.32%c

a. Approved under the standard stated in the filing — “oting standards? Proposal Nasdaq Board's Recommendation Voting Standard Effect of Abstentions and Broker Non-Votes Election of 12 directors (Non-Discretionary Item) FOR EACH NOMINEE Majority of votes cast Not counted as votes cast and therefore have no effect Advisory vote to approve the Company's executive compensation (Non-Discretionary Item) FOR Majority of the votes present in person or represented by proxy and entitled to vote on the matter Abstentions have the effect of a vote against the proposal;”.

b. Approved under the standard stated in the filing — “oting standards? Proposal Nasdaq Board's Recommendation Voting Standard Effect of Abstentions and Broker Non-Votes Election of 12 directors (Non-Discretionary Item) FOR EACH NOMINEE Majority of votes cast Not counted as votes cast and therefore have no effect Advisory vote to approve the Company's executive compensation (Non-Discretionary Item) FOR Majority of the votes present in person or represented by proxy and entitled to vote on the matter Abstentions have the effect of a vote against the proposal;”.

c. Approved under the standard stated in the filing — “Advisory vote to approve the Company's executive compensation (Non-Discretionary Item) FOR Majority of the votes present in person or represented by proxy and entitled to vote on the matter Abstentions have the effect of a vote against the proposal;”.

Approval percentages are the company’s own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.

CEO pay ratio

Ratio (CEO : median employee)246 : 1
CEO total compensation$25,014,550
Median employee compensation$101,885
Insider trades since the proxy

Every insider equity transaction reported on Form 4 after the 2025 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.

InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
Michelle Lynn DalySVP, Controller & PAO2026-04-24D129$89$11,462CommonForm 4 ↗
Michelle Lynn DalySVP, Controller & PAO2026-04-24D1,19489106,051CommonForm 4 ↗
Cohen TalPres. Market Platforms2026-04-27D15,518911,408,259CommonForm 4 ↗
Bradley J. PetersonEVP, CIO2026-04-28D7,71091700,222CommonForm 4 ↗
P.C. Nelson GriggsPres. Capital Access Platforms2026-05-18D5,09393471,714CommonForm 4 ↗
Johan TorgebyDirector2026-06-10A2,99800CommonForm 4 ↗
Kathryn A. KochDirector2026-06-10A3,17100CommonForm 4 ↗
Holden SpahtDirector2026-06-10A2,99800Common, indirectForm 4 ↗
Essa KazimDirector2026-06-10A4,15100CommonForm 4 ↗
Alfred W. ZollarDirector2026-06-10A4,49700CommonForm 4 ↗
Charlene T. BegleyDirector2026-06-10A2,99800CommonForm 4 ↗
Jeffery W. YabukiDirector2026-06-10A4,61200CommonForm 4 ↗
Toni Townes-WhitleyDirector2026-06-10A2,99800CommonForm 4 ↗
Thomas A. KloetDirector2026-06-10A4,55400CommonForm 4 ↗
Melissa M. ArnoldiDirector2026-06-10A4,32400CommonForm 4 ↗
Michael R. SplinterDirector2026-06-10A5,24600CommonForm 4 ↗
Johan TorgebyDirector2026-06-11D3008726,016CommonForm 4 ↗
Bryan Everard SmithEVP, CPO2026-06-11D3,00087260,730CommonForm 4 ↗
Ab InvestorGreater-than-10% holder2026-06-11A56,782864,882,116Common, indirectForm 4 ↗
Essa KazimDirector2026-06-11D6228753,940CommonForm 4 ↗
Bryan Everard SmithEVP, CPO2026-07-01D3,00080240,000CommonForm 4 ↗
Bradley J. PetersonEVP, CIO2026-07-24D13,000931,203,930CommonForm 4 ↗
P.C. Nelson GriggsPres. Capital Access Platforms2026-07-24D6,77793627,076CommonForm 4 ↗
P.C. Nelson GriggsPres. Capital Access Platforms2026-07-27D11,010941,034,500CommonForm 4 ↗
P.C. Nelson GriggsPres. Capital Access Platforms2026-07-29D11,010961,060,814CommonForm 4 ↗
Bryan Everard SmithEVP, CPO2026-08-03D1,55695147,929CommonForm 4 ↗
Bradley J. PetersonEVP, CIO2026-08-07D6,00096573,300CommonForm 4 ↗
Jeremy SkuleEVP, CSO2026-08-10D2,25095213,188CommonForm 4 ↗
P.C. Nelson GriggsPres. Capital Access Platforms2026-08-10D3,22696310,212CommonForm 4 ↗
Jeremy SkuleEVP, CSO2026-09-10D1,12594105,998CommonForm 4 ↗
Jeremy SkuleEVP, CSO2026-09-22D1,12595106,875CommonForm 4 ↗
Jeremy SkuleEVP, CSO2026-10-01D1,26292116,117CommonForm 4 ↗
Jeremy SkuleEVP, CSO2026-10-12D1,12594105,896CommonForm 4 ↗
Jeremy SkuleEVP, CSO2026-10-20D1,12595106,875CommonForm 4 ↗
Bradley J. PetersonEVP, CIO2026-10-23D4,000103413,520CommonForm 4 ↗
Cohen TalPres. Market Platforms2026-10-23D10,3901031,073,703CommonForm 4 ↗
Bradley J. PetersonEVP, CIO2026-10-27D3,987105417,638CommonForm 4 ↗

Transaction codes per Form 4: A acquisition · S open-market sale · F tax withholding · M option exercise · G gift. Value = shares × price as reported. Dividend-equivalent and fractional-share accrual rows (derivative Class A, under $10,000 and under 2,000 shares) are aggregated per date; every row appears in full below.

Sources (116 citations)

Each figure is listed with the filing it comes from, where it appears in that filing, and the value as printed. Any figure can be independently confirmed against the source.

  • Section 01, Adena Friedman. DEF 14A, filed 2026-04-24. Section “Executive Compensation Tables” · page 91. As printed: 25,014,550. View filing ↗
  • Section 01, Tal Cohen. DEF 14A, filed 2026-04-24. Section “Executive Compensation Tables” · page 91. As printed: 17,365,455. View filing ↗
  • Section 01, Sarah Youngwood. DEF 14A, filed 2026-04-24. Section “Executive Compensation Tables” · page 91. As printed: 9,945,096. View filing ↗
  • Section 01, P.C. Nelson Griggs. DEF 14A, filed 2026-04-24. Section “Executive Compensation Tables” · page 91. As printed: 8,360,335. View filing ↗
  • Section 01, Bradley J. Peterson. DEF 14A, filed 2026-04-24. Section “Executive Compensation Tables” · page 91. As printed: 6,118,574. View filing ↗
  • Section 03, Tal Cohen PSU. DEF 14A, filed 2026-04-24. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
  • Section 03, Sarah Youngwood PSU. DEF 14A, filed 2026-04-24. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
  • Section 03, P.C. Nelson Griggs PSU. DEF 14A, filed 2026-04-24. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
  • Section 03, Tal Cohen RSU. DEF 14A, filed 2026-04-24. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
  • Section 03, Adena Friedman RSU. DEF 14A, filed 2026-04-24. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
  • Section 03, Bradley J. Peterson RSU. DEF 14A, filed 2026-04-24. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
  • Section 03, Bradley J. Peterson PSU. DEF 14A, filed 2026-04-24. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
  • Section 03, Tal Cohen PSU. DEF 14A, filed 2026-04-24. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
  • Section 03, Adena Friedman PSU. DEF 14A, filed 2026-04-24. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
  • Section 03, Sarah Youngwood RSU. DEF 14A, filed 2026-04-24. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
  • Section 03, P.C. Nelson Griggs RSU. DEF 14A, filed 2026-04-24. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
  • Section 03, Tal Cohen RSU. DEF 14A, filed 2026-04-24. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
  • Section 07, pay ratio. DEF 14A, filed 2026-04-24. Section “CEO Pay Ratio”. As printed: 246 : 1. View filing ↗
  • Section 08, Thomas A. Kloet. DEF 14A, filed 2026-04-24. Section “Director Compensation”. As printed: 555,719. View filing ↗
  • Section 08, Michael R. Splinter. DEF 14A, filed 2026-04-24. Section “Director Compensation”. As printed: 450,156. View filing ↗
  • Section 08, Melissa M. Arnoldi. DEF 14A, filed 2026-04-24. Section “Director Compensation”. As printed: 413,464. View filing ↗
  • Section 08, Jeffery W. Yabuki. DEF 14A, filed 2026-04-24. Section “Director Compensation”. As printed: 395,701. View filing ↗
  • Section 08, Charlene T. Begley. DEF 14A, filed 2026-04-24. Section “Director Compensation”. As printed: 389,744. View filing ↗
  • Section 08, Alfred W. Zollar. DEF 14A, filed 2026-04-24. Section “Director Compensation”. As printed: 385,738. View filing ↗
  • Section 08, Toni Townes-Whitley. DEF 14A, filed 2026-04-24. Section “Director Compensation”. As printed: 379,744. View filing ↗
  • Section 08, Johan Torgeby. DEF 14A, filed 2026-04-24. Section “Director Compensation”. As printed: 367,244. View filing ↗
  • Section 08, Kathryn A. Koch. DEF 14A, filed 2026-04-24. Section “Director Compensation”. As printed: 364,518. View filing ↗
  • Section 08, Essa Kazim. DEF 14A, filed 2026-04-24. Section “Director Compensation”. As printed: 356,105. View filing ↗
  • Section 08, Holden Spaht. DEF 14A, filed 2026-04-24. Section “Director Compensation”. As printed: 352,244. View filing ↗
  • Section 08, Adena T. Friedman. DEF 14A, filed 2026-04-24. Section “Director Compensation”. As printed: 0. View filing ↗
  • Section 02, Michelle Lynn Daly 2026-04-24. Form 4, filed 2026-04-28. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Michelle Lynn Daly 2026-04-24. Form 4, filed 2026-04-28. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Cohen Tal 2026-04-27. Form 4, filed 2026-04-29. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Bradley J. Peterson 2026-04-28. Form 4, filed 2026-04-30. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, P.C. Nelson Griggs 2026-05-18. Form 4, filed 2026-05-20. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Johan Torgeby 2026-06-10. Form 4, filed 2026-06-12. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Kathryn A. Koch 2026-06-10. Form 4, filed 2026-06-12. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Holden Spaht 2026-06-10. Form 4, filed 2026-06-12. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Essa Kazim 2026-06-10. Form 4, filed 2026-06-12. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Alfred W. Zollar 2026-06-10. Form 4, filed 2026-06-12. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Charlene T. Begley 2026-06-10. Form 4, filed 2026-06-12. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Jeffery W. Yabuki 2026-06-10. Form 4, filed 2026-06-12. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Toni Townes-Whitley 2026-06-10. Form 4, filed 2026-06-12. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Thomas A. Kloet 2026-06-10. Form 4, filed 2026-06-12. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Melissa M. Arnoldi 2026-06-10. Form 4, filed 2026-06-12. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Michael R. Splinter 2026-06-10. Form 4, filed 2026-06-12. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Johan Torgeby 2026-06-11. Form 4, filed 2026-06-12. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Bryan Everard Smith 2026-06-11. Form 4, filed 2026-06-15. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Ab Investor 2026-06-11. Form 4, filed 2026-06-15. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Essa Kazim 2026-06-11. Form 4, filed 2026-06-12. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Bryan Everard Smith 2026-07-01. Form 4, filed 2026-07-02. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Bradley J. Peterson 2026-07-24. Form 4, filed 2026-07-28. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, P.C. Nelson Griggs 2026-07-24. Form 4, filed 2026-07-28. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, P.C. Nelson Griggs 2026-07-27. Form 4, filed 2026-07-28. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, P.C. Nelson Griggs 2026-07-29. Form 4, filed 2026-07-31. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Bryan Everard Smith 2026-08-03. Form 4, filed 2026-08-05. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Bradley J. Peterson 2026-08-07. Form 4, filed 2026-08-11. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Jeremy Skule 2026-08-10. Form 4, filed 2026-08-12. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, P.C. Nelson Griggs 2026-08-10. Form 4, filed 2026-08-12. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Jeremy Skule 2026-09-10. Form 4, filed 2026-09-14. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Jeremy Skule 2026-09-22. Form 4, filed 2026-09-24. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Jeremy Skule 2026-10-01. Form 4, filed 2026-10-05. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Jeremy Skule 2026-10-12. Form 4, filed 2026-10-14. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Jeremy Skule 2026-10-20. Form 4, filed 2026-10-22. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Bradley J. Peterson 2026-10-23. Form 4, filed 2026-10-27. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Cohen Tal 2026-10-23. Form 4, filed 2026-10-27. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Bradley J. Peterson 2026-10-27. Form 4, filed 2026-10-29. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 06, 2026 vote. Form 8-K, filed 2026-06-16. Item 5.07 · say-on-pay result. As reported: 96.04% (votes for as printed: 357,897,727). View filing ↗
  • Section 06, 2025 vote. Form 8-K, filed 2025-06-16. Item 5.07 · say-on-pay result. As reported: 95.82% (votes for as printed: 374,959,617). View filing ↗
  • Section 06, 2024 vote. Form 8-K, filed 2024-06-14. Item 5.07 · say-on-pay result. As reported: 97.32% (votes for as printed: 333,421,804). View filing ↗
  • Section 01 trend, Δ column (computed). Computed. Δ = current-FY total − prior-FY total per named officer.
  • Section 03b vehicle mix (computed). Computed. RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).
  • Section 09b board cost (computed). Computed. Cash 595,000 + equity 3,650,377 + all other 165,000 = 4,410,377, summed across the director compensation table rows.
  • Gen Digital Inc., Section 10b CEO total. DEF 14A, filed 2026-07-28. CEO total compensation as printed in Gen Digital Inc.'s own proxy. As printed: 83,582,308. View filing ↗
  • Fiserv, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-02. CEO total compensation as printed in Fiserv, Inc.'s own proxy. As printed: 70,341,992. View filing ↗
  • FactSet Research Systems Inc., Section 10b CEO total. DEF 14A, filed 2026-10-26. CEO total compensation as printed in FactSet Research Systems Inc.'s own proxy. As printed: 62,046,674. View filing ↗
  • ServiceNow, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-06. CEO total compensation as printed in ServiceNow, Inc.'s own proxy. As printed: 51,550,957. View filing ↗
  • Adobe Inc., Section 10b CEO total. DEF 14A, filed 2026-02-27. CEO total compensation as printed in Adobe Inc.'s own proxy. As printed: 51,173,935. View filing ↗
  • Intuit Inc., Section 10b CEO total. DEF 14A, filed 2025-11-26. CEO total compensation as printed in Intuit Inc.'s own proxy. As printed: 36,845,552. View filing ↗
  • Mastercard Incorporated, Section 10b CEO total. DEF 14A, filed 2026-04-27. CEO total compensation as printed in Mastercard Incorporated's own proxy. As printed: 35,422,518. View filing ↗
  • Msci Inc., Section 10b CEO total. DEF 14A, filed 2026-03-11. CEO total compensation as printed in Msci Inc.'s own proxy. As printed: 33,320,590. View filing ↗
  • Visa Inc., Section 10b CEO total. DEF 14A, filed 2025-12-08. CEO total compensation as printed in Visa Inc.'s own proxy. As printed: 31,560,660. View filing ↗
  • Autodesk, Inc., Section 10b CEO total. DEF 14A, filed 2026-05-06. CEO total compensation as printed in Autodesk, Inc.'s own proxy. As printed: 30,091,165. View filing ↗
  • PayPal Holdings, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-07. CEO total compensation as printed in PayPal Holdings, Inc.'s own proxy. As printed: 25,243,486. View filing ↗
  • Nasdaq (subject), Section 10b CEO total. DEF 14A, filed 2026-04-24. CEO total compensation as printed in Nasdaq's own proxy. As printed: 25,014,550. View filing ↗
  • CME Group Inc., Section 10b CEO total. DEF 14A, filed 2026-03-23. CEO total compensation as printed in CME Group Inc.'s own proxy. As printed: 23,394,854. View filing ↗
  • Fidelity National Information Services, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-28. CEO total compensation as printed in Fidelity National Information Services, Inc.'s own proxy. As printed: 22,928,412. View filing ↗
  • Intercontinental Exchange, Inc., Section 10b CEO total. DEF 14A, filed 2026-03-31. CEO total compensation as printed in Intercontinental Exchange, Inc.'s own proxy. As printed: 22,133,386. View filing ↗
  • Global Payments Inc., Section 10b CEO total. DEF 14A, filed 2026-03-17. CEO total compensation as printed in Global Payments Inc.'s own proxy. As printed: 20,307,392. View filing ↗
  • Workday, Inc., Section 10b CEO total. DEF 14A, filed 2026-05-05. CEO total compensation as printed in Workday, Inc.'s own proxy. As printed: 19,231,325. View filing ↗
  • The Charles Schwab Corporation, Section 10b CEO total. DEF 14A, filed 2026-04-06. CEO total compensation as printed in The Charles Schwab Corporation's own proxy. As printed: 18,755,222. View filing ↗
  • Cboe Global Markets, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-02. CEO total compensation as printed in Cboe Global Markets, Inc.'s own proxy. As printed: 18,347,037. View filing ↗
  • Moody's Corporation, Section 10b CEO total. DEF 14A, filed 2026-03-04. CEO total compensation as printed in Moody's Corporation's own proxy. As printed: 18,082,565. View filing ↗
  • Verisk Analytics, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-03. CEO total compensation as printed in Verisk Analytics, Inc.'s own proxy. As printed: 13,540,847. View filing ↗
  • S&P Global Inc., Section 10b CEO total. DEF 14A, filed 2026-03-31. CEO total compensation as printed in S&P Global Inc.'s own proxy. As printed: 12,831,062. View filing ↗
  • BGC Group, Inc., Section 10b CEO total. DEF 14A, filed 2026-10-08. CEO total compensation as printed in BGC Group, Inc.'s own proxy. As printed: 11,066,057. View filing ↗
  • Discover Financial Services, Section 10b CEO total. DEF 14A, filed 2024-03-15. CEO total compensation as printed in Discover Financial Services's own proxy. As printed: 2,188,651. View filing ↗
  • Section 10a, CME Group Inc. reciprocity. DEF 14A. CME Group Inc. names Nasdaq in its own disclosed peer group (read from its most recent proxy). View filing ↗
  • Section 10a, Workday, Inc. reciprocity. DEF 14A. Workday, Inc.'s most recent proxy was read; its disclosed peer group does not include Nasdaq. View filing ↗
  • Section 10a, BGC Group, Inc. reciprocity. DEF 14A. BGC Group, Inc. names Nasdaq in its own disclosed peer group (read from its most recent proxy). View filing ↗
  • Section 10a, Verisk Analytics, Inc. reciprocity. DEF 14A. Verisk Analytics, Inc. names Nasdaq in its own disclosed peer group (read from its most recent proxy). View filing ↗
  • Section 10a, Discover Financial Services reciprocity. DEF 14A. Discover Financial Services's most recent proxy was read; its disclosed peer group does not include Nasdaq. View filing ↗
  • Section 10a, Cboe Global Markets, Inc. reciprocity. DEF 14A. Cboe Global Markets, Inc. names Nasdaq in its own disclosed peer group (read from its most recent proxy). View filing ↗
  • Section 10a, FactSet Research Systems Inc. reciprocity. DEF 14A. FactSet Research Systems Inc. names Nasdaq in its own disclosed peer group (read from its most recent proxy). View filing ↗
  • Section 10a, S&P Global Inc. reciprocity. DEF 14A. S&P Global Inc.'s most recent proxy was read; its disclosed peer group does not include Nasdaq. View filing ↗
  • Section 10a, Moody's Corporation reciprocity. DEF 14A. Moody's Corporation names Nasdaq in its own disclosed peer group (read from its most recent proxy). View filing ↗
  • Section 10a, MSCI Inc. reciprocity. DEF 14A. MSCI Inc. names Nasdaq in its own disclosed peer group (read from its most recent proxy). View filing ↗
  • Section 10a, The Charles Schwab Corporation reciprocity. DEF 14A. The Charles Schwab Corporation's most recent proxy was read; its disclosed peer group does not include Nasdaq. View filing ↗
  • Section 10a, Fidelity National Information Services, Inc. reciprocity. DEF 14A. Fidelity National Information Services, Inc. names Nasdaq in its own disclosed peer group (read from its most recent proxy). View filing ↗
  • Section 10a, Mastercard Incorporated reciprocity. DEF 14A. Mastercard Incorporated's most recent proxy was read; its disclosed peer group does not include Nasdaq. View filing ↗
  • Section 10a, Fiserv, Inc. reciprocity. DEF 14A. Fiserv, Inc. names Nasdaq in its own disclosed peer group (read from its most recent proxy). View filing ↗
  • Section 10a, PayPal Holdings, Inc. reciprocity. DEF 14A. PayPal Holdings, Inc.'s most recent proxy was read; its disclosed peer group does not include Nasdaq. View filing ↗
  • Section 10a, Global Payments Inc. reciprocity. DEF 14A. Global Payments Inc.'s most recent proxy was read; its disclosed peer group does not include Nasdaq. View filing ↗
  • Section 10a, Visa Inc. reciprocity. DEF 14A. Visa Inc.'s most recent proxy was read; its disclosed peer group does not include Nasdaq. View filing ↗
  • Section 10a, Intuit Inc. reciprocity. DEF 14A. Intuit Inc.'s most recent proxy was read; its disclosed peer group does not include Nasdaq. View filing ↗
  • Section 10a, Autodesk, Inc. reciprocity. DEF 14A. Autodesk, Inc.'s most recent proxy was read; its disclosed peer group does not include Nasdaq. View filing ↗
Get the full report — $500