---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-22-307314"
form_type: "8-K"
ticker: "NDAQ"
cik: "0001120193"
company_name: "NASDAQ, INC."
filed_at: "2022-12-16T23:59:59+00:00"
generated_at: "2026-06-21T03:08:31.122106+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Nasdaq amends Stockholders' Agreement with Investor AB, reinstates board nomination right and standstill

## Summary
- Amendment dated Dec. 14, 2022 reinstates Investor AB's right to propose one board nominee, subject to Nominating & ESG Committee approval.
- Johan Torgeby (President & CEO of SEB) is designated as Investor AB's board representative until Nasdaq's 2024 annual meeting.
- Standstill restrictions are reinstated and will lapse when Investor AB owns <10% of Nasdaq common stock, upon a change of control, or other specified events.
- Board representation right also terminates upon Investor AB's withdrawal or Nasdaq's decision not to support the designee.

## SEC filing metadata
- accession: 0001193125-22-307314
- form_type: 8-K
- ticker: NDAQ
- cik: 0001120193
- company_name: NASDAQ, INC.
- filed_at: 2022-12-16T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1120193/000119312522307314/0001193125-22-307314-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1120193/000119312522307314/d423787d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-22-307314
- JSON: https://secwatch.observer/filing/0001193125-22-307314.json
- Plain text: https://secwatch.observer/filing/0001193125-22-307314.txt

## Key facts
- Material Agreements
  NASDAQ, INC. amended First Amendment to Nasdaq Stockholders’ Agreement with Investor AB (effective 2022-12-14).
  - Action: amendment
  - Counterparty: Investor AB
  - Effective: 2022-12-14
  source text: On December 14, 2022, Nasdaq, Inc. (“Nasdaq”) entered into the First Amendment to Nasdaq Stockholders’ Agreement (the “Amended Stockholders’ Agreement”) with Investor AB (“Investor AB”), amending the original stockholders’ agreement that was entered into between Nasdaq and Investor AB on December 16, 2010
  evidence_url: https://www.sec.gov/Archives/edgar/data/1120193/000119312522307314/0001193125-22-307314-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.