Peterson Justin 4

What Happened

• Justin Peterson, Chief Technology Officer of Tradeweb Markets (TW), disposed of shares following the settlement of RSUs and via an open-market plan. On March 17, 2026, 1,241 shares were withheld by the issuer to satisfy tax withholding related to RSU settlement (reported at $126.17/share, value $156,577). On March 18, 2026, he sold 3,212 shares in open-market transactions at a weighted average price of $124.76/share for proceeds of $400,716. He also received 3 shares (acquired at $0.00) in connection with dividend-equivalent rights settlement.

Key Details

• Transaction dates and prices:
  • 2026-03-17: 1,241 shares withheld for tax at $126.17/share (F1) — $156,577.
  • 2026-03-17: 3 shares acquired at $0.00 (DER settlement) (F3).
  • 2026-03-18: 3,212 shares sold in open market at weighted avg $124.76/share — $400,716 (F4, F5).
• The March 18 sale was made pursuant to a Rule 10b5-1 trading plan adopted Nov 3, 2025 (F4).
• The reported $124.76 for the March 18 sale is a weighted average; individual sale prices ranged $123.32–$125.86 (F5). The filer can provide per-price breakdown on request.
• Unvested equity still held (per footnote): 2,548 RSUs vesting Mar 15, 2027; 4,485 RSUs vesting in equal installments Mar 17, 2027 and Mar 17, 2028; and 8,037 RSUs vesting in equal installments Mar 15 of 2027–2029 (total 15,070 unvested RSUs) (F2).
• Shares owned after these transactions were not disclosed in the excerpt of the Form 4.
• Filing timeliness: Form 4 was filed Mar 19, 2026, within the SEC’s two-business-day reporting window (timely).

Context

• The 1,241-share disposal was a tax-withholding event (F = tax withholding) tied to RSU settlement, not an active sell decision by the insider. The 3,212-share sale was executed under a pre-established 10b5-1 plan (automated trading arrangement), which can indicate a planned disposition rather than opportunistic trading.
• The 3 shares acquired reflect settlement of dividend-equivalent rights linked to prior RSUs, not a cash purchase.
• Retail investors often view outright purchases as more informative of personal bullishness; these filings primarily show routine tax withholding and planned selling.