Stephen Cavoli - Jan 31, 2023 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: Jan 31, 2023
Transactions value $: $0
Form type: 4
Date filed: 2/2/2023, 05:46 PM
Previous filing: Jan 26, 2023
Next filing: Feb 7, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	VIRT	Class A common stock	Options Exercise		+50K	+63.04%		129K	Jan 31, 2023	Direct	F1, F2
transaction	VIRT	Class A common stock	Tax liability		-25.5K	-19.74%		104K	Jan 31, 2023	Direct	F3
transaction	VIRT	Class A common stock	Options Exercise		+8.5K	+8.19%		112K	Feb 1, 2023	Direct	F4
transaction	VIRT	Class A common stock	Tax liability		-4.34K	-3.87%		108K	Feb 1, 2023	Direct	F5

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
transaction	VIRT	Restricted Stock Unit	Options Exercise	$0	-8.5K	-20.54%	$0.00	32.9K	Feb 1, 2023	Class A common stock	8.5K		Direct	F6, F7

* 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 associated performance objective for 2022.
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	Shares of Class A common stock issued in settlement of vested restricted stock units ("RSUs") granted under the Issuer's Amended and Restated 2015 Management Incentive Plan.
F5	Shares of Class A common stock withheld for tax by the Issuer in relation to the settlement of vested RSUs in accordance with the Issuer's Amended and Restated 2015 Management Incentive Plan.
F6	Each RSU is granted under the Issuer's Amended and Restated 2015 Management Incentive Plan. Each RSU represents a contingent right to receive one share of Class A common stock of the Issuer.
F7	The RSUs vested on January 31, 2023.