X0202 4 2004-11-15 0 0001120193 NASDAQ STOCK MARKET INC NDAQ 0001240177 HASSEN RONALD ONE LIBERTY PLAZA NEW YORK NY 10006 0 1 0 0 Senior Vice President Common Stock, par value $0.01per share ("Common Stock") 8011 D Employee Stock Option (Right to Buy) 7.35 2004-11-15 4 A 0 50000 0 A 2014-11-15 Common Stock 50000 50000 D Employee Stock Option (Right to Buy) 9.15 2014-02-18 Common Stock 25000 25000 D Employee Stock Option (Right to Buy) 8.5 2013-07-29 Common Stock 25000 25000 D Employee Stock Option (Right to Buy) 19.7 2012-05-21 Common Stock 50000 50000 D Represents 5,819 shares of restricted stock granted under The Nasdaq Stock Market, Inc. Equity Incentive Plan, of which 1,769 shares have vested, and an additional 2,192 shares of Common Stock purchased pursuant to The Nasdaq Employee Stock Purchase Plan. Options exercisable as to 50% on January 15, 2009 ("tranche 1"), subject to accelerated vesting of the entire tranche 1 on January 15, 2008, or in the alternative, extension of vesting of the entire tranche 1 until January 15, 2010, depending on whether applicable performance goals to be determined by the Board of Directors are met. Options exercisable as to 50% on January 15, 2010 ("tranche 2"), subject to accelerated vesting of the entire tranche 2 on January 15, 2009, or in the alternative, extension of vesting of the entire tranche 2 until January 15, 2011, depending on whether applicable performance goals to be determined by the Board of Directors are met. Option exercisable as to 100% on February 18, 2009, subject to accelerated vesting of 100% of the option on either the third or fourth anniversary of the grant date if applicable performance goals are achieved. Option exercisable as to 33% on each of July 29, 2004 and 2005 and as to 34% on July 29, 2006. Option exercisable as to 33% on each of February 14, 2003 and 2004 and as to 34% on February 14, 2005. Edward S. Knight, by power of attorney 2004-11-15