Cavoli Stephen 4

4 · Virtu Financial, Inc. · Filed Feb 5, 2026

AI-generated summary of this filing

Updated Feb 6, 2026

Virtu (VIRT) EVP Stephen Cavoli Receives RSU Awards & Exercises

What Happened

Stephen Cavoli, Executive Vice President of Virtu Financial (VIRT), had restricted stock units (RSUs) vest and convert into common shares on February 3 and February 4, 2026. A total of 34,181 shares were issued on those dates (11,588 on Feb 3 and 22,593 on Feb 4).
To satisfy tax withholding obligations, 17,451 shares were surrendered/withheld (5,916 on Feb 3; 11,535 on Feb 4), leaving Cavoli with a net 16,730 newly issued shares. The transactions report $0 share price for the derivative conversions because these were RSU settlements rather than open-market trades.
These were compensation-related vesting events (awards/convertions), not purchases or voluntary sales by the insider.

Key Details

Transaction dates: Feb 3, 2026 and Feb 4, 2026. Report filed Feb 5, 2026 (no indication of late filing).
Gross shares issued on settlement: 34,181 (11,588 on Feb 3; 22,593 on Feb 4).
Shares withheld for taxes (share-for-tax withholding): 17,451 (5,916 on Feb 3; 11,535 on Feb 4).
Net shares issued to Cavoli: 16,730.
Transaction codes: M = exercise/conversion of derivative (RSU conversion); A = grant/award; F = payment of exercise price or tax liability (share withholding).
Footnotes: RSUs were granted under Virtu’s 2015 Management Incentive Plan; certain RSUs vested on Feb 3 and Feb 4. Additional RSU installments are scheduled to vest in equal amounts on Feb 4 of 2027, 2028 and 2029 (per filing).
Shares owned after transaction: not specified in the provided data.

Context

These entries reflect routine compensation (RSU vesting and conversion) and share withholding to cover tax liabilities — common corporate insider transactions that do not necessarily indicate a change in sentiment.
The filing shows the RSUs converted/settled into shares and that some of those shares were immediately surrendered for tax withholding (a cashless-like step), rather than open-market purchases or planned sales.

Form 4

Period: 2026-02-03

EVP

Transactions

Exercise/Conversion
Class A common stock
[F1]
2026-02-03+11,588→ 211,049 total
Tax Payment
Class A common stock
[F2]
2026-02-03−5,916→ 205,133 total
Exercise/Conversion
Class A common stock
[F1]
2026-02-04+7,531→ 212,664 total
Tax Payment
Class A common stock
[F2]
2026-02-04−3,845→ 208,819 total
Award
Class A common stock
[F3]
2026-02-04+15,062→ 223,881 total
Tax Payment
Class A common stock
[F2]
2026-02-04−7,690→ 216,191 total
Exercise/Conversion
Restricted Stock Unit
[F4][F5]
2026-02-03−11,588→ 70,401 total
→ Class A common stock (11,588 underlying)
Exercise/Conversion
Restricted Stock Unit
[F4][F6]
2026-02-04−7,531→ 62,870 total
→ Class A common stock (7,531 underlying)
Award
Restricted Stock Unit
[F4][F7]
2026-02-04+22,593→ 85,463 total
→ Class A common stock (22,593 underlying)

Footnotes (7)

[F1]Shares of Class A common stock issued in settlement of vested RSUs granted under the Issuer's Second Amended and Restated 2015 Management Incentive Plan.
[F2]Shares of Class A common stock withheld for tax by the Issuer in relation to the settlement of vested RSUs in accordance with the Issuer's Amended and Restated 2015 Management Incentive Plan.
[F3]Shares of Class A common stock granted under the Issuer's Second Amended and Restated 2015 Management Incentive Plan.
[F4]Each RSU is granted under the Issuer's Amended and Restated 2015 Management Incentive Plan and represents a contingent right to receive one share of Class A common stock of the Issuer.
[F5]The RSUs vested on February 3, 2026.
[F6]The RSUs vested on February 4, 2026.
[F7]The RSUs vest in three equal installments on February 4, 2027, February 4, 2028 and February 4, 2029.

Signature

Justin Waldie, as Attorney-in-Fact|2026-02-05

1 file