Molluso Joseph 4

What Happened

• Joseph Molluso, Co‑President & Co‑COO of Virtu Financial (VIRT), had performance‑based RSUs vest and settle into common stock on Jan 31, 2026 and Feb 2, 2026. The filings show gross issuances of 37,500 + 37,500 shares on Jan 31 and 11,193 shares on Feb 2, for a total of 86,193 shares issued. The derivative conversion/settlement entries are reported at $0.00 (these are RSU settlements, not cash purchases). The issuer withheld 20,738 shares on Jan 31 and 6,190 shares on Feb 2 to satisfy tax withholding, totaling 26,928 shares — leaving a net issuance to Molluso of about 59,265 shares. These transactions are awards/settlements (codes A and M) with tax withholding (code F), not open‑market trades.

Key Details

• Transaction dates & types: Jan 31, 2026 (two RSU settlements/awards of 37,500 shares each); Feb 2, 2026 (RSU settlement of 11,193 shares). Reported codes: A = Award/Grant, M = Exercise/Conversion of derivative (RSU settlement), F = Shares withheld for taxes.
• Prices/values: derivative settlements reported at $0.00 per share (RSU conversion), no cash price paid. No dollar sale value reported.
• Tax withholding: 20,738 shares withheld on Jan 31; 6,190 shares withheld on Feb 2 (total 26,928 shares).
• Net shares received: ~59,265 shares (86,193 gross − 26,928 withheld).
• Shares owned after transaction: not specified in the provided filing excerpt.
• Footnotes: RSUs were performance‑based awards (linked to 2024 and 2025 objectives) granted under Virtu’s Management Incentive Plan and the executive employment agreement; some RSUs are contingent rights to one share each. One tranche vested Feb 2, 2026 per filing footnote. No 10b5‑1 plan or gift noted.
• Filing timeliness: Form 4 was filed Feb 3, 2026 for transactions through Feb 2, 2026; the filing does not indicate it was late.

Context

• These were compensation settlements (vested RSUs) and routine tax withholding — not open‑market purchases or sales. Such awards reflect company compensation/ performance outcomes, not a direct buy/sell signal by the insider. When RSUs are settled and shares are withheld for taxes, insiders typically retain the net shares; this is common and not necessarily an expression of market sentiment.