Form 4 for VIRT Virtu Financial, Inc.
Accepted 2022-01-04 00:00:00 ET · period of report 2021-12-31 · accession 0001592386-22-000005 · SEC index · Original document
Summary rows
Aggregated the way they appear in lists: one row per insider, transaction code and security table.
| X | Filed | Traded | Ticker | Insider | Title | Type | Price | Qty | Owned | ΔOwn | Value |
|---|---|---|---|---|---|---|---|---|---|---|---|
| D | 2022-01-04 | 2021-12-31 | VIRT | Cifu Douglas A | CEO, Dir | A - Grant | — | +75.0K | 372.1K | +25% | — |
| D | 2022-01-04 | 2021-12-31 | VIRT | Cifu Douglas A | CEO, Dir | F - Tax | — | -33.9K | 338.2K | -9% | — |
| DM | 2022-01-04 | 2021-12-31 | VIRT | Cifu Douglas A | CEO, Dir | A - Grant | $0.00 | +150.0K | 200.9K | +294% | $0 |
Purchase Sale Sale after option exercise All abbreviations
Every reported transaction
| # | Table | Security | Date | Code | A/D | Shares | Price | Owned after | Own | Exercise / expiry | Underlying | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Common | Class A common stock | 2021-12-31 | A | A | 75,000 | — | 372,083 | D | — | — | (F1) 150,000 shares of Class A common stock were earned as a result of the Issuer's achievement of greater than 75% of budgeted Adjusted EBITDA for 2020, with 50% of such earned shares vesting on December 31, 2020 and the remaining 50% vesting on December 31, 2021. (F2) Restricted shares of Class A common stock granted under the Issuer's Amended and Restated 2015 Management Incentive Plan pursuant to the Amended and Restated Employment Agreement between the Issuer and Douglas A. Cifu. |
| 2 | Common | Class A common stock | 2021-12-31 | F | D | 33,878 | — | 338,205 | D | — | — | (F3) Shares of Class A common stock withheld for tax by the Issuer in accordance with the Issuer's Amended and Restated 2015 Management Incentive Plan. |
| 3 | Derivative | Deferred Stock Unit | 2021-12-31 | A | A | 75,000 | $0.00 | 75,000 | D | — · — to — | 75,000 Class A common stock | (F5) Deferred Stock Units ("DSU") credited to the reporting person under the Virtu Financial, Inc. Deferred Compensation Plan, effective November 13, 2020, for 75,000 Restricted Stock Units ("RSUs") granted under the Issuer's Amended and Restated 2015 Management Incentive Plan pursuant to the Amended and Restated Employment Agreement between the Issuer and Douglas A. Cifu and earned as a result of the Issuer's achievement of greater than 75% of budgeted Adjusted EBITDA for 2021. Each DSU is economically equivalent to one share of Class A common stock. (F6) The DSUs credited under the Deferred Compensation Plan are generally payable in the form elected or provided under the Deferred Compensation Plan on the earlier of: (i) a separation from service, (ii) a specified date, or (iii) a change in control. |
| 4 | Derivative | Restricted Stock Unit | 2021-12-31 | A | A | 75,000 | $0.00 | 200,950 | D | — · — to — | 75,000 Class A common stock | (F7) Each RSU is granted under the Issuer's Amended and Restated 2015 Management Incentive Plan and earned as a result of the Issuer's achievement of greater than 75% of budgeted Adjusted EBITDA for 2021. Each RSU represents a contingent right to receive one share of Class A common stock of the Issuer. (F8) The RSUs vest on December 31, 2022. |