Bruni Enrico 4

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.