Lee Cindy 4

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.