8-KLeadership ChangesShareholder Matters

NASDAQ, INC. 8-K Report, Executive Changes (May 13, 2014)

Filed May 13, 2014For Securities:NDAQ

Summary

This Form 8-K filing from The NASDAQ OMX Group, Inc. (now Nasdaq, Inc.) on May 13, 2014, reports on key events that transpired at the company's annual stockholder meeting on May 7, 2014, and a significant executive appointment. The company's stockholders re-elected all director nominees and approved key corporate actions including the ratification of Ernst & Young LLP as the independent auditor for fiscal year 2014, an advisory vote on executive compensation, and the approval of the NASDAQ OMX Equity Incentive Plan as amended and restated. Furthermore, the filing announces the appointment of Hans-Ole Jochumsen as President, Global Trading and Market Services, effective immediately. Mr. Jochumsen brings extensive experience within the company and its predecessor, OMX, having held various senior roles in transaction services and market operations. This appointment signals continued focus on leadership within the core trading and market services segments of the business.

Key Highlights

  • 1Appointment of Hans-Ole Jochumsen as President, Global Trading and Market Services.
  • 2Re-election of all NASDAQ OMX director nominees by stockholders.
  • 3Ratification of Ernst & Young LLP as the independent registered public accounting firm for FY2014.
  • 4Stockholder approval, on an advisory basis, of the company's executive compensation.
  • 5Approval of the NASDAQ OMX Equity Incentive Plan, as amended and restated.
  • 6Approval of an amendment to the company's Amended and Restated Certificate of Incorporation.
  • 7Voting results provided for all proposals, detailing shareholder support and broker non-votes.

Frequently Asked Questions

The most significant change reported is the appointment of Hans-Ole Jochumsen to the position of President, Global Trading and Market Services, effective immediately. This indicates a leadership change within a key operational segment of the company.

At the annual meeting, shareholders re-elected all director nominees, ratified Ernst & Young LLP as the independent auditor for FY2014, approved executive compensation on an advisory basis, and approved the amended and restated Equity Incentive Plan, along with an amendment to the company's Charter.

Based on the provided voting results, all proposals received substantial shareholder support and appear to have passed. Proposal IV, the approval of the NASDAQ OMX Equity Incentive Plan, received the lowest percentage of 'For' votes among the approved proposals but still had a clear majority in favor.

The amendment to the Amended and Restated Certificate of Incorporation aims to conform a specific provision to an analogous provision within the company's By-Laws. This is a housekeeping matter to ensure consistency in corporate governance documents, and it will become effective upon filing with the SEC and the state of Delaware.