X0306 4 2018-01-30 0 0001120193 NASDAQ, INC. NDAQ 0001240169 FRIEDMAN ADENA T ONE LIBERTY PLAZA NEW YORK NY 10006 1 1 0 0 President and CEO Common Stock, par value $0.01 per share 217469 D Employee Stock Option (Right to Buy) 66.68 2018-01-30 4 A 0 89605 0.00 A 2027-01-03 Common Stock 89605 89605 D Represents (i) 81,584 shares of vested restricted stock, (ii) 101,434 vested shares underlying PSUs and (iii) 34,451 shares granted under Nasdaq's Equity Incentive Plan or acquired under Nasdaq's Employee Stock Purchase Plan when Ms. Friedman was previously an employee of Nasdaq. Options exercisable. On January 3, 2017, Ms. Friedman received a grant of 268,817 performance-based options that vests in one-third annual installments based on Nasdaq's satisfaction of certain performance goals for each of the fiscal years ending December 31, 2017, 2018 and 2019. On January 30, 2018, Nasdaq's Management Compensation Committee and Board of Directors determined that the performance goal for 2017 was met, resulting in the settlement of the first one-third of the grant. /s/ Edward S. Knight, by power of attorney 2018-02-01