Jeremy Skule
NASDAQAbout Jeremy Skule
Jeremy Skule is EVP and Chief Strategy Officer at Nasdaq and, since September 2024, Executive Chair of Financial Crime Management Technology (Nasdaq Verafin). He joined Nasdaq in 2012 after senior roles at UBS (Wealth Management Marketing & Communications), MF Global (Chief Communications Officer), and FleishmanHillard (financial services practice lead), with a career spanning Washington, DC and New York. He is 51 and a member of Nasdaq’s Management Committee . Nasdaq’s long‑term incentives are heavily performance‑based; over 2022–2024 cumulative TSR was 20.4% (57th percentile vs S&P 500; 46th percentile vs peers), driving PSU vesting at 106.2% of target .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Nasdaq | EVP & Chief Strategy Officer | Since Jan 2021 | Drives corporate strategy, integration roadmaps, and One Nasdaq cross‑sell initiatives . |
| Nasdaq Verafin (Financial Crime Mgmt Tech) | Executive Chair | Since Sep 2024 | Oversees strategic direction, global expansion, integration and cross‑sell objectives . |
| Nasdaq | EVP & Chief Marketing Officer | Since Apr 2018 | Led global brand and marketing; elevated market positioning . |
| Nasdaq | SVP & Chief Marketing Officer | Since 2012 | Built marketing foundation post‑joining Nasdaq . |
| UBS | Led Marketing & Communications (Wealth Mgmt) | Pre‑2012 | Scaled marketing/communications for wealth platform . |
| MF Global | Chief Communications Officer | Pre‑UBS | Managed crisis and corporate communications . |
| FleishmanHillard | Financial Services Practice Lead | Prior | Led large agency practice serving financial institutions . |
External Roles
No public company directorships or external governance roles are disclosed for Skule in Nasdaq’s proxy/SEC filings reviewed .
Fixed Compensation
Not disclosed for Skule (he was not a Named Executive Officer in 2024); however, EVP compensation at Nasdaq is structured with base salary plus an annual ECIP performance bonus and equity awards under the Equity Plan .
Performance Compensation
Annual ECIP payouts are formulaic against corporate goals, supplemented by division/strategic objectives (specific NEO division metrics not disclosed). 2024 corporate scorecard results and payout factors:
| Metric | Threshold | Target | Max | 2024 Result (Comp Basis) | Payout as % of Target |
|---|---|---|---|---|---|
| Operating Income (Run Rate) | $2,278.3M | $2,447.3M | $2,540.1M | $2,465.4M | 120% |
| Net Revenues | $4,283.9M | $4,542.1M | $4,687.2M | $4,585.3M | 130% |
| ARR | $2,505.0M | $2,716.0M | $2,821.0M | $2,716.0M | 100% |
Long‑term incentives are primarily PSUs tied to relative TSR; performance results for the 2022–2024 cycle:
| Metric | Result | Implication |
|---|---|---|
| Cumulative TSR (2022–2024) | 20.4% | At 57th percentile vs S&P 500; 46th percentile vs peers . |
| PSU Vesting | 106.2% of target | Performance‑based vesting above target . |
Program design highlights:
- Majority of NEO pay is performance‑based; 80% of long‑term grants are performance‑based PSUs .
- 2024 annual incentive payouts ranged 117%–170% of target across NEOs (reflecting corporate/division objectives) .
Equity Ownership & Alignment
| Policy Element | Detail |
|---|---|
| Stock Ownership Guidelines (multiples of base salary) | Chair & CEO: 12x; Presidents: 6x; CFO: 6x; Management Committee Members: 4x; Other EVPs: 3x . |
| Holding Period | Maintain required ownership levels through employment; retain grants until guidelines met . |
| Hedging/Pledging | Prohibited for directors and executive officers (no short sales/derivatives; no pledging or margin accounts) . |
| 10b5‑1 Plans | Permitted subject to SEC rules and internal controls . |
| Clawbacks | Broad recoupment policy (SVP+), plus supplemental Dodd‑Frank/Nasdaq listing‑compliant clawback for Section 16 officers (applies to incentive‑based pay within 3 years of a restatement) . |
Vesting mechanics and cadence (illustrative examples from NEO disclosures):
- RSUs commonly vest in three annual tranches (e.g., 33%/33%/34% or 33%/33%/33%) on April 1 or similar anniversary dates .
- PSUs are three‑year awards with vesting based on relative TSR measured over the performance period .
Employment Terms
- Change‑in‑Control (CIC) protections at Nasdaq emphasize double‑trigger severance and equity treatment; certain executives (e.g., CFO, Presidents) have CIC severance plans specifying cash multiples, COBRA, outplacement, and accelerated vesting under the Equity Plan . Under the Equity Plan, if awards are assumed and the executive is involuntarily terminated within one year post‑CIC, unvested equity vests; if not assumed, unvested awards vest immediately prior to CIC .
- Incentive recoupment: expanded clawback policies applicable to senior executives, including Section 16 officers, align with SEC/Nasdaq listing standards .
- Risk‑mitigating practices: no tax gross‑ups; no option repricing; comprehensive annual compensation risk assessment determining no material adverse risk .
Investment Implications
- Strong alignment: ownership guidelines (4x salary for Management Committee members, which includes Skule) plus strict anti‑hedging/pledging and robust clawback policies reduce misalignment and hedging‑related selling risk .
- Performance‑linked pay: ECIP tied to net revenues, operating income (run rate), and ARR, and PSUs tied to relative TSR; 2024 corporate performance and 2022–2024 TSR delivered above‑target outcomes, supporting pay‑for‑performance integrity .
- Retention/transition: CIC frameworks and equity vesting design promote retention across senior ranks; while Skule’s individual severance terms are not disclosed, governance design (double‑trigger, equity treatment) suggests moderate retention supports without shareholder‑unfriendly provisions (no gross‑ups, no repricing) .
- Execution focus: As Executive Chair of Financial Crime Management Technology and Chief Strategy Officer, Skule’s remit centers on cross‑sell and global expansion; governance oversight and compensation structure tie his incentives to enterprise value drivers and TSR, aligning strategic execution with shareholder outcomes .