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BGC Group, Inc.

BGC · FY2025

ALIGNED

CEO Package

$11.1M

Pay Ratio

—

John J. Abularrage,

Pay fell roughly in step with TSR

CME GROUP INC.

CME · FY2025

ALIGNED

CEO Package

$23.4M

Pay Ratio

—

Terrence A. Duffy

Pay reset -2.3% while TSR improved +7.3 pts

NASDAQ, INC.

NDAQ · FY2025

MISALIGNED

CEO Package

$25.0M

Pay Ratio

—

Adena T. Friedman

Pay rose +16.2% while TSR fell -7.3 pts

CEOTotal Compensation — All Companies

BGC$11.1MCME$23.4MNDAQ$25.0M

All values are grant-date fair value as reported in proxy statements.

Key Differences

The fastest way to read this comparison before dropping into the tables.

NDAQ carries the largest package at $25.0M, about 2.3x BGC.
NDAQ reads misaligned, while BGC looks aligned.
NDAQ is the most equity-heavy package, while BGC leans hardest on non-equity incentive compensation.

Pay Component Breakdown

Latest CEO package mix by company. This stays on the CEO package even if the chart above is showing Top 5 pay.

BGC

John J. Abularrage,

$11.1M

base salary7%
stock awards13%
non-equity incentive compensation58%

CME

Terrence A. Duffy

$23.4M

base salary9%
stock awards57%
non-equity incentive compensation30%
other compensation4%

NDAQ

Adena T. Friedman

$25.0M

base salary5%
stock awards70%
non-equity incentive compensation24%
other compensation0%

Quick Comparison

CompanyCEOLatest YearTotal Comp
BGC Group, Inc.(BGC)N/A2025N/A
CME GROUP INC.(CME)Terrence A. Duffy2025$23.4M
NASDAQ, INC.(NDAQ)Adena T. Friedman2025$25.0M

Note: All compensation values shown are grant-date fair value as reported in proxy statements. Direct comparisons should account for differences in company size, industry, and compensation structure.

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