Stephen Cavoli - Dec 31, 2021 Form 4 Insider Report for Virtu Financial, Inc. (VIRT)

Role: EVP
Signature: /s/ Justin Waldie, as Attorney-in-Fact
Stock symbol: VIRT
Transactions as of: Dec 31, 2021
Transactions value $: $0
Form type: 4
Date filed: 1/4/2022, 03:58 PM
Next filing: Jan 25, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	VIRT	Class A common stock	Award		+50K	+41.67%		170K	Dec 31, 2021	Direct	F1, F2
transaction	VIRT	Class A common stock	Tax liability		-26.6K	-15.63%		143K	Dec 31, 2021	Direct	F3

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
holding	VIRT	Restricted Stock Unit						47.8K	Dec 31, 2021	Class A common stock	47.8K		Direct	F4, F5

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	50,000 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 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 Mr. Stephen Cavoli.
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.
F4	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.
F5	2,402 of the RSUs vest on January 23, 2022. 19,940 of the RSUs vest in two equal installments on January 24, 2022 and January 24, 2023. 25,498 of the RSUs vest in three installments on February 1, 2022, February 1, 2023, and February 1, 2024.