Form 4: Cboe CTO Reports Equity Transactions, New RSU Grant

Cboe Global Markets' EVP and CTO, Timothy Lipscomb, reported multiple acquisitions and dispositions of common stock and a new restricted stock unit grant on February 19, 2026.

Summary

• Timothy Lipscomb, EVP, Chief Technology Officer of Cboe Global Markets, Inc. (CBOE), reported several transactions involving common stock and Restricted Stock Units (RSUs) on February 19, 2026.
• Acquired a total of 1,882 shares of common stock through the vesting and exercise of RSUs at a price of $286.17 per share.
• Disposed of a total of 860 shares of common stock at $286.17 per share, primarily to cover tax withholding obligations related to the RSU vesting.
• Following these transactions, direct beneficial ownership of common stock stands at 2,638 shares.
• Acquired a new grant of 2,053 Restricted Stock Units (RSUs) which will vest in three equal annual installments beginning on February 19, 2027.
• Continues to hold 545 RSUs from a grant that began vesting on February 19, 2025, and 833 RSUs and 251 RSUs from grants that began vesting on February 19, 2026.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a moderately positive disclosure, primarily due to the executive's continued equity ownership and the new RSU grant, which aligns interests, despite routine tax-related dispositions.

Positives

• The acquisition of 1,882 shares of common stock through RSU vesting indicates continued equity ownership by a key executive.
• A new grant of 2,053 Restricted Stock Units (RSUs) aligns the executive's long-term incentives with shareholder interests.

Negatives

• The disposition of 860 shares of common stock for tax withholding purposes reduces the executive's direct equity stake.

Future Outlook

The filing indicates future vesting events for Restricted Stock Units on February 19, 2027, and subsequent years, aligning executive incentives with long-term company performance.

Industry Context

StockSavvy.ai notes that routine insider transactions, such as those related to RSU vesting and tax withholdings, are common disclosures for executives in publicly traded companies like Cboe Global Markets. These filings provide transparency into executive compensation structures and equity ownership, which are standard practices across the financial services industry.

Stakeholder Impact

• Shareholders: Provides transparency regarding executive equity ownership and compensation, potentially reinforcing confidence in management's alignment with long-term company performance through equity incentives.
• Employees: Reflects standard executive compensation practices, which can influence broader employee incentive programs.

Next Steps

• Future vesting of 545 Restricted Stock Units (RSUs) from the grant that began vesting on February 19, 2025.
• Future vesting of 833 and 251 Restricted Stock Units (RSUs) from grants that began vesting on February 19, 2026.
• Future vesting of 2,053 Restricted Stock Units (RSUs) in three equal annual installments beginning on February 19, 2027.

Key Dates

Recommendation

This Form 4 filing details routine insider transactions related to executive compensation, specifically RSU vesting and tax-related dispositions, along with a new RSU grant. While it provides transparency into executive equity alignment, it does not contain information significant enough to alter an investment thesis or warrant a change from a 'hold' recommendation based solely on this disclosure.

Keywords

Cboe Global Markets, CBOE, Timothy Lipscomb, Form 4, Insider Trading, Restricted Stock Units, Equity Compensation, Stock Transactions, Executive Compensation