[Form 4] CME GROUP INC. Insider Trading Activity

Rhea-AI Filing Summary

Hilda Harris Piell, Sr. MD & Chief HR Officer at CME Group (CME), reported insider transactions on Form 4 showing share surrenders to cover tax withholding upon restricted stock vesting. On 09/15/2025 she disposed of 953 Class A shares at $258.83 each, reducing her holdings to 28,108 shares, and on the same date acquired 2,608 shares at $258.83, raising holdings to 30,716 shares. On 09/16/2025 she disposed of 325 shares at $259.83, leaving 30,391 shares beneficially owned after the reported transactions. The filing states the disposals were share surrenders to satisfy tax-withholding obligations tied to restricted stock vesting; the form was signed on 09/17/2025.

Positive

• Timely disclosure of insider transactions with clear explanations for tax-withholding
• Transactions tied to restricted stock vesting, indicating routine compensation mechanics rather than discretionary trading

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Routine insider share surrenders for tax withholding on vested restricted stock; procedural and non-eventful for governance.

The Form 4 reflects customary post-vesting mechanics where the executive surrendered vested shares to satisfy tax-withholding obligations. Transactions occurred on 09/15/2025 and 09/16/2025 at prices of $258.83 and $259.83, respectively, and the filing documents net beneficial ownership at 30,391 shares. There is no indication of discretionary sales beyond tax-related withholding and the disclosure appears timely and properly executed by an authorized signer.

Securities/Compensation Analyst

TL;DR: Compensation-related share surrenders reduce outstanding insider holdings but reflect standard tax withholding on restricted stock vesting.

The movements shown—disposals of 953 and 325 shares and an acquisition of 2,608 shares at roughly $259 per share—are explained explicitly as share surrenders to the company for tax withholding tied to vesting events. The filing quantifies resulting beneficial ownership (30,391 shares) which allows investors to track changes in insider exposure; these are routine, non-cash employer-mediated transactions rather than open-market sales.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Piell Hilda Harris

(Last) (First) (Middle)

20 S. WACKER DRIVE

(Street)

CHICAGO IL 60606

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
CME GROUP INC. [ CME ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Sr MD & Chief HR Officer

3. Date of Earliest Transaction (Month/Day/Year)
09/15/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock Class A	09/15/2025		F		953(1)	D	$258.83	28,108	D
Common Stock Class A	09/15/2025		A		2,608	A	$258.83	30,716	D
Common Stock Class A	09/16/2025		F		325(2)	D	$259.83	30,391	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Ms. Piell surrendered shares to the Company in order to fulfill tax withholding obligations upon the vesting of restricted stock on September 15, 2025.

2. Ms. Piell surrendered shares to the Company in order to fulfill tax withholding obligations upon the vesting of restricted stock on September 16, 2025.

Remarks:

	By: Margaret Austin Wright For: Hilda Harris Piell	09/17/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Hilda Harris Piell report on Form 4 for CME (CME)?

The filing reports share surrenders to satisfy tax withholding on restricted stock vesting: disposals of 953 shares on 09/15/2025 at $258.83, an acquisition of 2,608 shares on 09/15/2025 at $258.83, and a disposal of 325 shares on 09/16/2025 at $259.83.

Why were shares disposed according to the Form 4?

The Form 4 explicitly states the shares were surrendered to the company to fulfill tax withholding obligations upon the vesting of restricted stock on 09/15/2025 and 09/16/2025.

How many CME Class A shares did Ms. Piell beneficially own after the reported transactions?

Following the reported transactions, the filing shows Ms. Piell beneficially owned 30,391 Class A shares.

What prices were reported for the transactions on the Form 4?

The reported prices were $258.83 for transactions on 09/15/2025 and $259.83 for the transaction on 09/16/2025.

When was the Form 4 signed and filed?

The signature block shows the form was signed on 09/17/2025 by Margaret Austin Wright for Hilda Harris Piell.