Lee Cindy 4/A

What Happened

• Cindy Lee, Chief Financial Officer of Virtu Financial (VIRT), had 2,343 restricted stock units (RSUs vest) on Feb 4, 2025. Those vested RSUs were converted into shares; 1,296 of those shares were withheld by the company to satisfy tax obligations. Separately, she was granted 3,514 new RSUs (multi-year vesting).
• The filing shows the vested units were recorded at a reference volume-weighted average price (VWAP) of $39.8369 (per the footnote). That implies the 2,343 vested shares are worth roughly $93.3k and the 1,296 withheld-for-tax shares about $51.6k (approximate).
• This is largely a routine insider equity vesting/net-settlement event (not a market purchase or open-market sale).

Key Details

• Transaction date: February 4, 2025 (report filed/amended February 4, 2026).
• Actions reported: 2,343 RSUs vested and converted to shares (derivative exercise/conversion), 1,296 shares withheld for tax (F = tax withholding), and 3,514 RSUs newly granted (A = award/grant) that vest in Feb 2026–2028.
• Prices shown: $0.00 for RSU/derivative lines (RSUs are not option purchases); VWAP used for valuation per footnote = $39.8369.
• Shares owned after the transaction: not disclosed in the provided filing excerpt.
• Notable footnotes: tax withholding per the Issuer's 2015 Management Incentive Plan (F2); RSUs represent contingent rights to one share each and have scheduled future vesting (F3–F5); exchange/conversion rights for certain units described (F6–F7).
• Filing status: This is an amended Form 4; the amendment states the prior filing did not fully reflect the Feb 4, 2025 vesting in Table II. The report was filed about one year after the transaction date (filed 2026-02-04 for a 2025-02-04 report).

Context

• This was a vesting and net-share-settlement event (company withheld shares to cover taxes), not an open-market sale or purchase. Such withholding is routine and does not necessarily indicate executive sentiment about the stock.
• Derivative/RSU mechanics: RSUs are grants that convert to shares upon vesting; the filing shows conversion/exercise at $0.00 (no exercise price), followed by withholding to satisfy tax obligations.