Hult William 4

What Happened William (Bill) Hult, CEO of Tradeweb Markets (TW), exercised stock options and sold shares on February 10, 2026. He exercised 72,450 options at $20.59 per share (cost = $1,491,746) and sold a total of 121,218 shares in open-market transactions at a weighted average price of $115.45, generating gross proceeds of about $13,994,612. The exercise/transfer of the derivative is also reported on the Form 4 as a derivative disposition (standard reporting treatment).

Key Details

• Transaction date: February 10, 2026; Form 4 filed February 12, 2026 (timely filing).
• Option exercise: 72,450 shares acquired at $20.59 each (M code); option is fully vested and exercisable (F5).
• Sales: 72,450 shares sold at a weighted avg $115.45 (proceeds $8,364,410; prices ranged $113.33–$116.85 per F3) and 48,768 shares sold at weighted avg $115.45 (proceeds $5,630,202; prices ranged $113.33–$116.87 per F4).
• Gross proceeds from sales ≈ $13.99M; exercise cost ≈ $1.49M.
• Reported under a Rule 10b5-1 trading plan adopted Nov 3, 2025 (F1).
• The filing lists unvested RSUs remaining (14,376; 23,356; 30,682 in various vesting schedules) per footnote F2. The Form 4 does not disclose total shares beneficially owned after these transactions in the materials provided here.

Context

• This was an option exercise followed by immediate open‑market sales (often executed to cover exercise cost, taxes, or diversify). The M code denotes an exercise/conversion of a derivative; S denotes open-market sale.
• The sales were executed pursuant to a pre-established 10b5-1 plan (reduces risk of insider trading concerns because trades are preplanned).
• For retail investors: sales by executives are common and may be for personal-liquidity or tax purposes; they are informative but not definitive signals about company fundamentals.