Lee Cindy 4
Accession 0002033153-26-000004
Filed
Feb 3, 7:00 PM ET
Accepted
Feb 4, 4:05 PM ET
Size
15.8 KB
Accession
0002033153-26-000004
Research Summary
AI-generated summary of this filing
Virtu (VIRT) CFO Cindy Lee Receives Shares via RSU Vesting
What Happened
Cindy Lee, Chief Financial Officer of Virtu Financial (VIRT), had restricted stock units (RSUs) vest on February 2 and February 3, 2026. A total of 5,839 shares of Class A common stock were issued in settlement of those vested RSUs (2,749 on Feb 2 and 3,090 on Feb 3). The issuer withheld 2,354 shares to satisfy tax withholding (1,108 on Feb 2 and 1,246 on Feb 3), resulting in a net delivery of 3,485 shares to Ms. Lee. The filing reports the RSU conversion/exercise entries with a $0.00 per-share exercise price, reflecting issuance in settlement of RSUs (no cash exercise price).
Key Details
- Transaction dates: Feb 2, 2026 (2,749 vested; 1,108 withheld) and Feb 3, 2026 (3,090 vested; 1,246 withheld).
- Reported prices: exercise/conversion recorded at $0.00 (typical for RSU settlement); some entries show N/A where price/value not applicable.
- Net shares received: 3,485; gross issued: 5,839; shares withheld for tax: 2,354.
- Footnotes: shares issued under the Issuer’s amended 2015 Management Incentive Plan (RSUs); withholding was by the issuer to cover tax liabilities; RSUs vested on Feb 2 and Feb 3 (F1–F5).
- Exchange/units note: filing includes boilerplate that Virtu Financial Units and Class C shares may be exchanged one-for-one for Class A shares (Exchange Agreement) and that units held via Virtu Employee Holdco LLC are disclaimed except for pecuniary interest (F6–F7).
- Filing timeliness: Form 4 filed Feb 4, 2026 — appears to be filed within the required reporting window.
Context
- Transaction codes: M = exercise/conversion of derivative (RSU conversion to shares); F = payment of exercise price or tax liability (here, share withholding for taxes).
- This was not an open-market buy or sell; it was settlement of vested RSUs with shares withheld to cover taxes. Such filings document compensation-related issuance rather than a market-directional trade.
Insider Transaction Report
- Exercise/Conversion
Class A common stock
[F1]2026-02-02+2,749→ 21,341 total - Tax Payment
Class A common stock
[F2]2026-02-02−1,108→ 20,233 total - Exercise/Conversion
Class A common stock
[F1]2026-02-03+3,090→ 23,323 total - Tax Payment
Class A common stock
[F2]2026-02-03−1,246→ 22,077 total - Exercise/Conversion
Restricted Stock Unit
[F3][F4]2026-02-02−2,749→ 30,342 total→ Class A common stock (2,749 underlying) - Exercise/Conversion
Restricted Stock Unit
[F3][F5]2026-02-03−3,090→ 27,252 total→ Class A common stock (3,090 underlying)
- 4,760(indirect: See footnote)
Non-voting common interest units of Virtu Financial LLC
[F6][F7]→ Class A common stock (4,760 underlying)
Footnotes (7)
- [F1]Shares of Class A common stock issued in settlement of vested shares granted under the Issuer's Second Amended and Restated 2015 Management Incentive Plan.
- [F2]Shares of Class A common stock withheld for tax by the Issuer in relation to the settlement of vested RSUs in accordance with the Issuer's Amended and Restated 2015 Management Incentive Plan.
- [F3]Each RSU is granted under the Issuer's Amended and Restated 2015 Management Incentive Plan and represents a contingent right to receive one share of Class A common stock of the Issuer.
- [F4]The RSUs vested on February 2, 2026.
- [F5]The RSUs vested on February 3, 2026.
- [F6]Pursuant to the terms of the Exchange Agreement, effective as of April 15, 2015, by and among the Issuer, Virtu Financial LLC and the equityholders of Virtu Financial LLC (the "Exchange Agreement"), Virtu Financial Units, together with a corresponding number of shares of Class C Common Stock, may be exchanged for shares of Class A Common Stock, which have one vote per share and economic rights (including rights to dividends and distributions upon liquidation), on a one-for-one basis at the discretion of the holder. The exchange rights under the Exchange Agreement do not expire.
- [F7]By Virtu Employee Holdco LLC, a holding vehicle through which employees and directors of the Issuer hold vested and unvested Virtu Financial Units and shares of Class C Common Stock. The reporting person disclaims beneficial ownership in such Virtu Financial Units and shares held by Virtu Employee Holdco LLC except to the extent of his pecuniary interest therein.
Signature
Documents
Issuer
Virtu Financial, Inc.
CIK 0001592386
Related Parties
1- filerCIK 0002033153
Filing Metadata
- Form type
- 4
- Filed
- Feb 3, 7:00 PM ET
- Accepted
- Feb 4, 4:05 PM ET
- Size
- 15.8 KB