What is Ms. Daly's background and experience?

Ms. Daly has a strong financial background, most recently serving as Deputy Controller at BlackRock from April 2018 to April 2021. Prior to that, she spent nearly ten years at Goldman Sachs in various roles, including Head of SEC Reporting, and also worked in the audit practice at Ernst & Young LLP for approximately 11 years.

What is Ms. Daly's compensation package?

Ms. Daly will receive an annual base salary of $400,000, a minimum bonus opportunity of $400,000 for 2021, and a welcome equity grant of $550,000 in restricted stock units (RSUs) in July 2021. Her target bonus in subsequent years is 100% of her base salary, with the potential to earn up to 200%. She is also eligible for future annual equity grants and executive benefits.

Are there any special provisions regarding Ms. Daly's employment termination?

Yes, upon termination by the Company other than for Cause, Ms. Daly is entitled to severance consisting of ten months of base salary and ten months of continued health insurance coverage. The discretion to determine the terms of outstanding equity awards upon termination rests with the Management Compensation Committee of the Board of Directors.

NDAQ 8-K: Leadership Changes

Q: Who has been appointed as the new Controller and Principal Accounting Officer at Nasdaq?

Ms. Michelle Daly has been appointed as the Senior Vice President, Controller, and Principal Accounting Officer of Nasdaq, Inc., effective immediately as of May 3, 2021.

Summary

Nasdaq, Inc. (NDAQ) announced a key leadership appointment in its finance department through an 8-K filing on May 3, 2021. The company appointed Ms. Michelle Daly as Senior Vice President, Controller, and Principal Accounting Officer, effective immediately. Ms. Daly brings a wealth of experience from prominent financial institutions, including BlackRock and Goldman Sachs, as well as a background in public accounting with Ernst & Young. Her compensation package includes a base salary of $400,000, a guaranteed minimum bonus of $400,000 for 2021, and significant equity grants. An initial RSU grant of $550,000 is scheduled for July 2021, vesting over three years, and she will be eligible for future annual equity grants based on her base salary. This appointment signals Nasdaq's commitment to strengthening its financial reporting and accounting oversight with experienced leadership.

Key Highlights

1Appointment of Ms. Michelle Daly as Senior Vice President, Controller, and Principal Accounting Officer, effective immediately.
2Ms. Daly has extensive experience from BlackRock, Goldman Sachs, and Ernst & Young.
3Annual base salary of $400,000 for Ms. Daly.
4Guaranteed minimum bonus opportunity of $400,000 for 2021.
5Initial restricted stock unit (RSU) grant valued at $550,000, vesting over three years.
6Eligibility for future annual equity grants starting in 2022, with a minimum target of 100% of base salary.
7Ms. Daly will participate in standard executive benefits and severance provisions in case of termination without cause.

NASDAQ, INC. 8-K Report, Executive Changes (May 3, 2021)

Summary

Key Highlights

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