Cavoli Stephen 4
4 · Virtu Financial, Inc. · Filed Feb 18, 2026
Research Summary
AI-generated summary of this filing
Virtu Financial (VIRT) EVP Stephen Cavoli Sells 28,370 Shares
What Happened
Stephen Cavoli, Executive Vice President of Virtu Financial (VIRT), reported an open-market sale of 28,370 shares on February 17, 2026. The filing shows a weighted-average price of $38.94 per share for a total proceeds of $1,104,657. This was a sale (S) — typically a routine disposition rather than a bullish purchase signal.
Key Details
- Transaction date: 2026-02-17; filing date: 2026-02-18 (appears timely under Form 4 rules).
- Shares sold: 28,370; weighted-average price reported: $38.94; total value: $1,104,657.
- Price range (per footnote): transactions occurred at prices from $38.7065 to $39.16; the filing states the reported price is a weighted average and the filer can provide a breakdown on request.
- Shares owned after transaction: not specified in the excerpt provided.
- Relevant footnotes included in the filing:
- F1: Weighted-average price and multiple-transaction range disclosure; additional per-price details available on request.
- F2: Notes certain holdings are RSUs granted under the 2015 Management Incentive Plan (each RSU converts to one share).
- F3: The RSUs vest in installments in February 2027, February 2028, and February 2029.
Context
Sales by executives are common and can reflect personal liquidity needs, diversification, or routine plan-based trading; they do not by themselves indicate company performance. The filing also references outstanding restricted stock units (RSUs) with multi-year vesting, which are separate from this open-market sale.
Insider Transaction Report
- Sale
Class A common stock
[F1]2026-02-17$38.94/sh−28,370$1,104,657→ 116,191 total
- 85,463
Restricted Stock Unit
[F2][F3]→ Class A common stock (85,463 underlying)
Footnotes (3)
- [F1]The price reported in Column 4 is a weighted average price. The shares were purchased in multiple transactions at prices ranging from $38.7065 to $39.16, inclusive. The reporting person undertakes to provide to the staff of the Securities and Exchange Commission, to any security holder of Virtu Financial, Inc., or to Virtu Financial, Inc., upon request, full information regarding the number of shares sold at each separate price within the range set forth above.
- [F2]Each RSU is granted under the Issuer's Second Amended and Restated 2015 Management Incentive Plan and represents a contingent right to receive one share of Class A common stock of the Issuer.
- [F3]The RSUs vest in installments in February 2027, February 2028 and February 2029.