Enrico Bruni - 20 Feb 2026 Form 4 Insider Report for Tradeweb Markets Inc. (TW)

Role: MD, Co-Head of Global Markets
Signature: /s/ Douglas Friedman, Attorney-in-Fact for Enrico Bruni
Issuer symbol: TW
Transactions as of: 20 Feb 2026
Net transactions value: -$2,072,913
Form type: 4
Filing time: 23 Feb 2026, 16:06:19 UTC
Previous filing: 05 Jan 2026
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Bruni Enrico	MD, Co-Head of Global Markets	TRADEWEB MARKETS INC., 245 PARK AVENUE, NEW YORK	/s/ Douglas Friedman, Attorney-in-Fact for Enrico Bruni	23 Feb 2026	0001771187

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	TW	Class A common stock	Sale	$2,072,913	-17,380	-15%	$119.27	102,319	20 Feb 2026	Direct	F1, F2

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

Explanation of Responses:

Id	Content
F1	The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $118.99 to $119.63, inclusive. The reporting person undertakes to provide the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.
F2	This amount includes (i) 5,940 unvested restricted stock units ("RSUs") in respect of the issuer's Class A common stock ("Class A Common Stock") that are scheduled to vest on March 15, 2026, (ii) 6,741 unvested RSUs in respect of Class A Common Stock that are scheduled to vest in equal installments on March 15, 2026 and March 15, 2027, and (iii) 9,638 unvested RSUs in respect of Class A Common Stock that are scheduled to vest in equal installments on March 17, 2026, March 17, 2027 and March 17, 2028, in each case, subject to the reporting person's continued employment through the applicable vesting date.

Content

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $118.99 to $119.63, inclusive. The reporting person undertakes to provide the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.

This amount includes (i) 5,940 unvested restricted stock units ("RSUs") in respect of the issuer's Class A common stock ("Class A Common Stock") that are scheduled to vest on March 15, 2026, (ii) 6,741 unvested RSUs in respect of Class A Common Stock that are scheduled to vest in equal installments on March 15, 2026 and March 15, 2027, and (iii) 9,638 unvested RSUs in respect of Class A Common Stock that are scheduled to vest in equal installments on March 17, 2026, March 17, 2027 and March 17, 2028, in each case, subject to the reporting person's continued employment through the applicable vesting date.