Form 4: Virtu Financial EVP Cavoli Reports Stock Transactions

Virtu Financial EVP Stephen Cavoli reported multiple transactions involving Class A common stock and Restricted Stock Units, including vesting and tax-related dispositions.

Summary

• Stephen Cavoli, Executive Vice President (EVP) of Virtu Financial, Inc. (VIRT), reported several transactions involving Class A common stock and Restricted Stock Units (RSUs).
• On January 31, 2026, 37,500 RSUs earned as a result of the Issuer's achievement of 2024 performance objectives vested and settled into Class A common stock.
• Also on January 31, 2026, 37,500 shares of Class A common stock were earned due to the Issuer's achievement of 2025 performance objectives and vested.
• On February 2, 2026, 10,309 shares of Class A common stock were issued in settlement of vested RSUs.
• A total of 38,551 shares of Class A common stock were withheld by Virtu Financial for tax purposes in relation to the settlement of vested RSUs across these transactions.
• Following these reported transactions, Stephen Cavoli directly beneficially owned 199,461 shares of Class A common stock and 81,989 Restricted Stock Units.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a routine insider transaction reflecting the achievement of performance objectives by the company, leading to executive compensation vesting, which is generally a positive indicator of company performance.

Positives

• The earning and vesting of 37,500 RSUs for 2024 performance and 37,500 shares of Class A common stock for 2025 performance indicate the Issuer's achievement of associated performance objectives.
• The settlement of vested RSUs into Class A common stock demonstrates the fulfillment of executive compensation agreements.

Negatives

• A total of 38,551 shares of Class A common stock were disposed of through withholding for tax purposes, reducing the direct beneficial ownership of the reporting person.

Future Outlook

37,500 Restricted Stock Units earned as a result of the Issuer's achievement of 2025 performance objectives are scheduled to vest on January 31, 2027.

Industry Context

StockSavvy.ai notes that these transactions represent routine executive compensation events, specifically the vesting of performance-based equity awards and subsequent tax-related share dispositions, which are common practices in the financial services industry for incentivizing and retaining key personnel.

Next Steps

• The vesting of 37,500 Restricted Stock Units on January 31, 2027.

Key Dates

Recommendation

This Form 4 filing details routine executive compensation events, including the vesting of performance-based awards and subsequent tax-related share dispositions. It does not provide new fundamental information about Virtu Financial's operational performance or strategic direction that would warrant a change in investment recommendation. Therefore, a 'hold' recommendation is appropriate as this filing does not alter the underlying investment thesis.

Keywords

Virtu Financial, VIRT, Form 4, Insider Transaction, Executive Compensation, Restricted Stock Units, Class A Common Stock, Stock Vesting