Filing Details
- Accession Number:
- 0001592386-23-000064
- Form Type:
- 4
- Zero Holdings:
- No
- Publication Time:
- 2023-09-13 16:39:16
- Reporting Period:
- 2023-09-13
- Accepted Time:
- 2023-09-13 16:39:16
- SEC Url:
- Form 4 Filing
Issuer
| Cik | Name | Symbol | Sector (SIC) | IRS No |
|---|---|---|---|---|
| 1592386 | Virtu Financial Inc. | VIRT | () | 4 |
Insiders
| Cik | Name | Reported Address | Insider Title | Director | Officer | Large Shareholder | Other |
|---|---|---|---|---|---|---|---|
| 1573283 | A Douglas Cifu | C/O Virtu Financial, Inc. 1633 Broadway New York NY 10019 | Chief Executive Officer | Yes | Yes | No | No |
Reported Non-Derivative Transactions
| Sec. Name | Acquisiton - Disposition | Date | Amount | Price | Remaning Holdings | Equity Swap Involved | Form Type | Code | Nature of Ownership | Explanation |
|---|---|---|---|---|---|---|---|---|---|---|
| Class A Common Stock | Acquisiton | 2023-09-13 | 50,000 | $17.06 | 442,755 | No | 4 | P | Indirect | See footnote |
| Equity Swap Involved | Form Type | Code | Nature of Ownership | Explanation |
|---|---|---|---|---|
| No | 4 | P | Indirect | See footnote |
Reported Non-Derivative Holdings
| Sec. Name | Remaning Holdings | Nature of Ownership | Explanation |
|---|---|---|---|
| Class A Common Stock | 452,907 | Direct |
Reported Derivative Holdings
| Sec. Name | Sec. Type | Price | Date | Expiration Date | Amount | Remaning Holdings | Nature of Ownership |
|---|---|---|---|---|---|---|---|
| Class A Common Stock | Restricted Stock Unit | $0.00 | 202,860 | 202,860 | Direct | ||
| Class A Common Stock | Deferred Stock Unit | $0.00 | 325,287 | 325,287 | Direct | ||
| Class A Common Stock | Non-voting common interest units of Virtu Financial LLC | $0.00 | 2,830,742 | 2,830,742 | Indirect | ||
| Class A Common Stock | Non-voting common interest units of Virtu Financial LLC | $0.00 | 819,804 | 819,804 | Indirect |
| Expiration Date | Amount | Remaning Holdings | Nature of Ownership |
|---|---|---|---|
| 202,860 | 202,860 | Direct | |
| 325,287 | 325,287 | Direct | |
| 2,830,742 | 2,830,742 | Indirect | |
| 819,804 | 819,804 | Indirect |
Footnotes
- The price reported in Column 4 is a weighted average price. The shares were purchased in multiple transactions at prices ranging from $16.8900 to $17.2500, inclusive. The reporting person undertakes to provide to the staff of the Securities and Exchange Commission, to any security holder of Virtu Financial, Inc., or to Virtu Financial, Inc., upon request, full information regarding the number of shares sold at each separate price within the range set forth above.
- By a trust, for the benefit of the Cifu Family (the "Cifu Family 2020 Trust"). Melissa B. Lautenberg, the reporting person's wife, holds dispositive control and voting control over the shares held by the Cifu Family 2020 Trust. The reporting person may be deemed to beneficially own the shares held by the Cifu Family 2020 Trust by virtue of his relationship with Ms. Lautenberg.
- Each RSU is granted under the Issuer's Amended and Restated 2015 Management Incentive Plan and represents a contingent right to receive one share of Class A common stock of the Issuer.
- 77,254 of the RSUs vest in three equal installments on February 3, 2024, February 3, 2025 and February 3, 2026, 32,522 of the RSUs vest in two equal installments on February 3, 2024 and February 3, 2025, 18,084 of the RSUs vest on February 1, 2024 and 75,000 of the RSUs vest on December 31, 2023.
- Deferred Stock Units ("DSU") credited to the reporting person under the Virtu Financial, Inc. Deferred Compensation Plan, effective November 13, 2020. Each DSU is economically equivalent to one share of Class A common stock.
- 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.
- Pursuant to the terms of the Exchange Agreement, effective as of April 15, 2015, by and among the Issuer, Virtu Financial LLC and the equityholders of Virtu Financial LLC (the "Exchange Agreement"), Virtu Financial Units, together with a corresponding number of shares of Class C Common Stock, may be exchanged for shares of Class A common stock of the Issuer, which have one vote per share and economic rights (including rights to dividends and distributions upon liquidation), on a one-for-one basis at the discretion of the holder. The exchange rights under the Exchange Agreement do not expire.
- By a limited liability company, DAC Investment LLC, owned by the reporting person and the reporting person's wife.
- By a trust, for the benefit of the Cifu Family (the "Cifu Family Trust"). Melissa B. Lautenberg, the reporting person's wife, and Dr. Mitchel A. Lautenberg, Ms. Lautenberg's brother, share dispositive control and voting control over the shares held by the Cifu Family Trust. The reporting person may be deemed to beneficially own the shares held by the Cifu Family Trust by virtue of his relationship with Ms. Lautenberg.
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