Virtu (VIRT) CFO Cindy Lee Receives 11,667 RSU Shares

What Happened

• Cindy Lee, Chief Financial Officer of Virtu Financial, had 11,667 restricted stock units (RSUs) vest on August 1, 2026. Those RSUs were settled into 11,667 shares of Class A common stock. The company withheld 6,452 shares to cover tax withholding, leaving a net issuance to Lee of 5,215 shares.
• The conversion/settlement shows as a derivative conversion (Form 4 code M) with the shares issued at $0.00 (no cash exercise price). The tax withholding is reported under code F.

Key Details

• Transaction date: August 1, 2026.
• Shares issued on settlement: 11,667; shares withheld for taxes: 6,452; net shares received: 5,215.
• Reported price: $0.00 for the derivative conversion (RSU settlement); withholding involved share surrender, not an open-market sale.
• Relevant footnotes: RSUs granted under the Issuer's Second Amended and Restated 2015 Management Incentive Plan (vested Aug 1, 2026); withholding was done by the issuer to cover tax liability.
• Shares owned after transaction: Not disclosed in this filing.
• Filing timeliness: No late filing indicator shown in the provided information.

Context

• This was an award/settlement of vested RSUs rather than an open-market purchase or sale. The withholding of shares to satisfy taxes is a routine, administrative step (a cashless/net settlement) and does not necessarily indicate a buy or sell sentiment by the insider.
• Footnotes in the filing also reference exchange/conversion mechanics for certain company units and a holding vehicle used by employees, which are standard disclosure items and do not change the basic economic result: Lee received 11,667 shares, 6,452 were withheld for taxes, netting 5,215 shares.