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Frequently Asked Questions
  How can I find the appropriate closing price or consolidated closing bid price?
Identification Number 272

For purposes of Listing Rule 5635(d) "Minimum Price" means a price that is the lower of: (i) the closing price (as reflected on immediately preceding the signing of the binding agreement; or (ii) the average closing price of the common stock (as reflected on for the five trading days immediately preceding the signing of the binding agreement. Please note that the Nasdaq Official Closing Price is different from the Closing Price. For purposes of Listing Rule 5635(d), the “closing price” means the Nasdaq Official Closing Price and is reported on See also FAQ #271.

For purposes of determining "market value" under the shareholder approval requirements related to equity compensation under Listing Rule 5635(c), Nasdaq looks to the consolidated closing bid price as of 4 PM Eastern time. A Nasdaq company can view its security's relevant closing bid price on Nasdaq Online (  This information is under the “4:00 Close” column in the “Bids and Asks” tab of the “Trade History.”  Nasdaq-listed companies can also call their representative at Nasdaq's Market Intelligence Desk. Companies can find the telephone number for their representative by logging into Nasdaq Online and clicking on "My MID." When requesting this information, please be sure to specify the consolidated closing bid price. Others may call the Market Intelligence Desk at +1 646 344 7777 or Nasdaq MarketWatch at +1 301 978 8500 or +1 800 537 3929. When requesting this information, please be sure to specify the consolidated closing bid price.

Publication Date*: 11/26/2019 Mailto Link Identification Number: 272
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