Bruni Enrico 4
4 · Tradeweb Markets Inc. · Filed Mar 19, 2026
Research Summary
AI-generated summary of this filing
Tradeweb (TW) Enrico Bruni, MD Sells Shares for Tax Withholding
What Happened Enrico Bruni, MD and Co-Head of Global Markets at Tradeweb (TW), had 1,511 shares of Class A common stock withheld on March 17, 2026 to satisfy tax withholding tied to the settlement of restricted stock units (RSUs). Those shares were recorded at $126.17 per share for a value of $190,643 (disposition code F). On the same date he was credited with 6 shares (acquisition code A) at $0.00, representing settlement of dividend equivalent rights related to previously awarded RSUs.
Key Details
- Transaction date: March 17, 2026.
- Withheld/disposed: 1,511 shares @ $126.17 = $190,643 (tax withholding to satisfy RSU-related taxes) (footnote F1).
- Acquired: 6 shares @ $0.00 (settlement of dividend equivalent rights) (footnote F3).
- Unvested RSUs reported (footnote F2): 21,548 total unvested RSUs — 3,371 vesting March 15, 2027; 6,425 vesting in equal installments March 17, 2027 and March 17, 2028; 11,752 vesting March 15, 2027, March 15, 2028 and March 15, 2029 (all subject to continued employment).
- Filing: Form 4 filed March 19, 2026 for transactions on March 17, 2026 — filed within the typical two-business-day window (timely).
Context The 1,511-share disposition was a share-withholding to meet tax obligations on RSU settlement (a routine, non-market sale), not an open-market sale indicating a cash-out decision. The 6 free shares came from dividend equivalent rights tied to prior RSU awards. These actions reflect compensation settlement mechanics rather than a straightforward buy or sell as an investment signal.
Insider Transaction Report
- Tax Payment
Class A common stock
[F1][F2]2026-03-17$126.17/sh−1,511$190,643→ 108,228 total - Award
Class A common stock
[F3][F2]2026-03-17+6→ 108,234 total
Footnotes (3)
- [F1]Represents shares withheld by the issuer to satisfy the tax withholding obligation associated with the settlement of restricted stock units ("RSUs") in respect of the issuer's Class A common stock ("Class A Common Stock") held by the reporting person.
- [F2]This amount includes (i) 3,371 unvested RSUs in respect of Class A Common Stock that are scheduled to vest on March 15, 2027, (ii) 6,425 unvested RSUs in respect of Class A Common Stock that are scheduled to vest in equal installments on March 17, 2027 and March 17, 2028 and (iii) 11,752 unvested RSUs in respect of Class A Common Stock that are scheduled to vest on March 15, 2027, March 15, 2028 and March 15, 2029, in each case, subject to the reporting person's continued employment through the applicable vesting date.
- [F3]Represents shares of Class A Common Stock acquired in connection with the settlement of certain dividend equivalent rights (the "DERs"). The DERs were granted in connection with previously awarded RSUs, and settled in shares of Class A Common Stock in connection with the settlement of the RSUs to which they relate.