Cavoli Stephen 4

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.