Warren Gardiner - Feb 12, 2024 Form 4 Insider Report for Intercontinental Exchange, Inc. (ICE)

Signature
/s/ Octavia N. Spencer, Attorney-in-fact
Stock symbol
ICE
Transactions as of
Feb 12, 2024
Transactions value $
-$500,876
Form type
4
Date filed
2/14/2024, 05:56 PM
Previous filing
Feb 7, 2024
Next filing
Feb 15, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ICE Common Stock Sale -$296K -2.18K -15.28% $136.00 12.1K Feb 12, 2024 Direct
transaction ICE Common Stock Award $0 +10.1K +83.38% $0.00 22.1K Feb 12, 2024 Direct F1
transaction ICE Common Stock Tax liability -$205K -1.51K -6.84% $135.46 20.6K Feb 12, 2024 Direct F2, F3, F4

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction ICE Employee Stock Option (right to buy) Holding Award $0 +12K $0.00 12K Feb 12, 2024 Common Stock 12K $135.46 Direct F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents shares of performance based restricted stock units granted to the filing person on February 3, 2023. The vesting of the shares of performance based restricted stock units was conditioned upon the achievement of certain 2023 earnings before interest, taxes, depreciation, and amortization ("EBITDA") performance versus pre-established targets. The restricted stock units vest over three years (1/3 on February 12, 2024, 1/3 on February 12, 2025 and 1/3 on February 12, 2026). Of the 10,057 shares, 3,352 were issued on February 12, 2024, of which 1,513 shares were withheld to satisfy payment of the Issuer's tax withholding obligation. The remaining 6,705 shares are scheduled to be issued on the two remaining vesting dates and taxes for these future issuances will be withheld and reported at the time the shares are issued.
F2 Represents shares of common stock underlying vested restricted stock units that are being withheld to satisfy payment of the Issuer's tax withholding obligation.
F3 The common stock number referred in Table I is an aggregate number and represents 8,773 shares of common stock and 907 unvested restricted stock units ("RSUs"), and 10,925 unvested performance based restricted stock units ("PSUs"), for which the performance period has been satisfied. The RSUs and PSUs vest over a three year period, in which 33.33% of the units vest each year. The satisfaction of the 2024 PSUs tied to earnings before interest, taxes, depreciation, and amortization, ("EBITDA") and the corresponding number of shares to be issued pursuant to these awards, will not be determined until February 2025 and will be reported at the time of vesting. The satisfaction of the 2022, 2023 and 2024 total shareholder return performance based restricted stock units and the corresponding number of shares to be issued pursuant to these awards, will not be determined until February 2025, February 2026 and February 2027, respectively, and will be reported at the time of vesting.
F4 The satisfaction of the performance based restricted stock units granted as Deal Incentive Awards and the corresponding number of shares to be issued pursuant to these awards, will not be determined until December 2026, December 2027 and December 2028 and will be subject to additional time-based vesting conditions and, if applicable, a subsequent one-year holding period.
F5 These options vest in accordance with the following schedule: 33.33% of the options vest on February 12, 2025, 33.33% of the options vest on February 12, 2026 and 33.33% of the options vest on February 12, 2027.