Tradeweb Markets (TW) MD Bruni granted RSUs, reports tax withholding

Rhea-AI Filing Summary

Tradeweb Markets Inc. MD and Co-Head of Global Markets Enrico Bruni reported routine equity compensation activity in Class A common stock. He received awards totaling 11,752 restricted stock units (RSUs) that will vest in three equal installments on each of the first, second and third anniversaries of March 15, 2026, subject to continued employment.

The filing also shows 4,376 shares withheld by the company at $124.42 per share to cover tax obligations tied to RSU settlement, and 44 shares acquired from dividend equivalent rights. After these transactions, Bruni directly holds 109,739 shares, including 3,371 unvested RSUs scheduled to vest on March 15, 2027, 9,638 unvested RSUs vesting in equal installments on March 17, 2026, March 17, 2027 and March 17, 2028, and 11,752 unvested RSUs vesting on March 15, 2027, March 15, 2028 and March 15, 2029.

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

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

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Bruni Enrico

(Last) (First) (Middle)

TRADEWEB MARKETS INC.

245 PARK AVENUE

(Street)

NEW YORK NY 10167

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Tradeweb Markets Inc. [ TW ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	MD, Co-Head of Global Markets

3. Date of Earliest Transaction (Month/Day/Year)
03/15/2026

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
Class A common stock	03/15/2026		A(1)		11,752	A	$0	114,071(2)	D
Class A common stock	03/15/2026		F(3)		4,376	D	$124.42	109,695(2)	D
Class A common stock	03/15/2026		A(4)		44	A	$0	109,739(2)	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. The reported transaction is an award of restricted stock units ("RSUs") in respect of the issuer's Class A common stock ("Class A Common Stock"). Subject to the reporting person's continued employment through the applicable vesting date, these RSUs are scheduled to vest in equal installments on each of the first, second and third anniversaries of March 15, 2026.

2. This amount includes (i) 3,371 unvested RSUs in respect of Class A Common Stock that are scheduled to vest on March 15, 2027, (ii) 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 and (iii) 11,752 unvested RSUs in respect of Class A Common Stock that are scheduled to vest on March 15, 2027, March 15, 2028 and March 15, 2029, in each case, subject to the reporting person's continued employment through the applicable vesting date.

3. Represents shares withheld by the issuer to satisfy the tax withholding obligation associated with the settlement of RSUs in respect of the Class A Common Stock held by the reporting person.

4. Represents shares of Class A Common Stock acquired in connection with the settlement of certain dividend equivalent rights (the "DERs"). The DERs were granted in connection with previously awarded RSUs, and settled in shares of Class A Common Stock in connection with the settlement of the RSUs to which they relate.

Remarks:

	/s/ Douglas Friedman, Attorney-in-Fact for Enrico Bruni	03/17/2026
	** 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).
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FAQ

What equity awards did Enrico Bruni report in Tradeweb Markets (TW) Form 4?

Enrico Bruni reported receiving 11,752 restricted stock units (RSUs) tied to Tradeweb Class A common stock. These RSUs vest in three equal installments on the first, second and third anniversaries of March 15, 2026, contingent on his continued employment with the company.

How many Tradeweb (TW) shares does Enrico Bruni hold after this Form 4?

After the reported transactions, Enrico Bruni directly holds 109,739 shares of Tradeweb Class A common stock. This figure includes both vested shares and multiple tranches of unvested RSUs scheduled to vest between March 2026 and March 2029, assuming continued employment.

How are the newly granted Tradeweb (TW) RSUs scheduled to vest for Enrico Bruni?

The 11,752 new RSUs are scheduled to vest in three equal installments on the first, second and third anniversaries of March 15, 2026. Each installment depends on Bruni remaining employed with Tradeweb through the specific vesting date for those RSUs.

What does the tax-withholding transaction in Tradeweb (TW) Form 4 represent?

The Form 4 shows 4,376 Tradeweb Class A shares withheld at $124.42 per share. These shares were retained by the company to satisfy Bruni’s tax withholding obligations linked to the settlement of previously granted RSUs, rather than representing an open-market sale of stock.

What other unvested RSUs does Enrico Bruni have related to Tradeweb (TW) stock?

Bruni’s holdings include 3,371 unvested RSUs vesting on March 15, 2027, 9,638 unvested RSUs vesting in equal installments on March 17 of 2026, 2027 and 2028, and 11,752 unvested RSUs vesting on March 15 of 2027, 2028 and 2029, subject to continued employment.

What is the 44-share acquisition noted in Tradeweb (TW) Form 4?

The acquisition of 44 Tradeweb Class A shares comes from settling dividend equivalent rights (DERs). These DERs were granted in connection with prior RSU awards and were settled in shares when the underlying RSUs were settled, adding a small number of additional shares to Bruni’s holdings.