Nasdaq, Inc. filed a current report on Form 8-K on October 26, 2026, disclosing the election of Börje Ekholm to its Board of Directors effective November 1, 2026, and the resignation of Holden Spaht from the Board effective December 31, 2026.

Key Highlights

  • New director elected: Börje Ekholm was elected to the Nasdaq, Inc. Board of Directors on October 21, 2026, with an effective date of November 1, 2026.
  • Committee assignment: Ekholm will serve on the Audit & Risk Committee of the Board.
  • Independence determination: The Board has determined that Ekholm is an independent director.
  • Related party disclosure: An immediate family member of Ekholm is employed by Nasdaq in a non-officer position and received aggregate total compensation in excess of $120,000 from the beginning of fiscal year 2025 through the filing date; the Audit & Risk Committee reviewed and ratified these arrangements in advance of his election.
  • Director resignation: Holden Spaht notified Nasdaq on October 22, 2026, of his resignation from the Board and all committees, effective December 31, 2026.
  • No disagreement cited: According to the filing, Spaht's resignation "was not the result of any disagreement between Mr. Spaht and Nasdaq."

Ekholm Election and Spaht Resignation: Board Changes at Nasdaq, Inc.

According to the filing, Börje Ekholm was elected to the Board of Nasdaq, Inc. (NASDAQ:NDAQ) on October 21, 2026, to serve until the earlier of his death, resignation, or removal, or the 2027 Annual Meeting of Shareholders and a successor being duly qualified and elected. The filing states that Ekholm was not selected pursuant to any arrangements or understandings with Nasdaq or any other person, and that he will be compensated under Nasdaq's Board Compensation Policy, as amended and restated on June 11, 2025, and filed as Exhibit 10.1 to Nasdaq's Quarterly Report on Form 10-Q for the quarter ended June 30, 2025.

The filing describes Ekholm as the former President and Chief Executive Officer of Ericsson, having served in that role from January 2017 to September 2026 and on Ericsson's Board of Directors from 2006 to 2026. Prior to Ericsson, he held various positions at Investor AB, including as President and Chief Executive Officer from 2005 to 2015. The filing also notes that Ekholm previously served on Nasdaq's Board from February 2011 to December 2016, including as Chair from May 2012 to December 2016.

Regarding the related party matter, the filing discloses that the Audit & Risk Committee reviewed and ratified the family member's compensation arrangements in advance of Ekholm's election, and that compensation was determined in accordance with Nasdaq's standard practices applicable to similarly situated employees. Separately, the filing reports that Holden Spaht submitted his resignation on October 22, 2026, with an effective date of December 31, 2026, and that the decision was not the result of any disagreement with Nasdaq.

What Was Disclosed

Nasdaq, Inc. reported the election of Börje Ekholm as an independent director effective November 1, 2026, his assignment to the Audit & Risk Committee, a related party compensation disclosure, and the upcoming resignation of director Holden Spaht on December 31, 2026.