---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-053028"
form_type: "8-K"
ticker: "NDAQ"
cik: "0001120193"
company_name: "NASDAQ, INC."
filed_at: "2025-03-12T23:59:59+00:00"
generated_at: "2026-05-24T22:02:37.553752+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Nasdaq enters new employment agreements with CEO Friedman, President Cohen, and CIO Peterson

## Summary
- CEO Adena Friedman's agreement runs through Jan 1, 2030; base salary $1.4M, target bonus 300%, 2025 equity award at least $15M.
- President Tal Cohen's agreement runs through Jan 1, 2030; base $750k, target bonus 200%, plus one-time $7M equity grant.
- CIO Bradley Peterson's agreement runs through Jan 1, 2028; base $650k, target bonus 175%, 2025 equity award $3.2M.
- All agreements include enhanced severance for qualifying termination and change-in-control protection.
- Executives may give 12-month retirement notice: Friedman after Dec 31, 2027; Cohen after Jan 1, 2027; Peterson after Dec 31, 2026.

## SEC filing metadata
- accession: 0001193125-25-053028
- form_type: 8-K
- ticker: NDAQ
- cik: 0001120193
- company_name: NASDAQ, INC.
- filed_at: 2025-03-12T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 5.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1120193/000119312525053028/0001193125-25-053028-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1120193/000119312525053028/d937707d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-053028
- JSON: https://secwatch.observer/filing/0001193125-25-053028.json
- Plain text: https://secwatch.observer/filing/0001193125-25-053028.txt

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