Tradeweb Markets (TW) MD Enrico Bruni sells 17,380 Class A shares

Rhea-AI Filing Summary

Tradeweb Markets Inc. executive Enrico Bruni, MD and Co-Head of Global Markets, sold 17,380 shares of Class A common stock in an open-market transaction on February 20, 2026, at a weighted average price of $119.27 per share.

After this sale, Bruni held 102,319 shares, a figure that includes multiple tranches of unvested restricted stock units scheduled to vest between March 2026 and March 2028, subject to his continued employment through the applicable vesting dates.

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

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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)
02/20/2026

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	02/20/2026		S		17,380	D	$119.27(1)	102,319(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 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.

2. 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.

Remarks:

	/s/ Douglas Friedman, Attorney-in-Fact for Enrico Bruni	02/23/2026
	** 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).
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 insider transaction did Enrico Bruni report at Tradeweb (TW)?

Enrico Bruni reported an open-market sale of 17,380 shares of Tradeweb Class A common stock. The sale occurred on February 20, 2026, at a weighted average price of $119.27 per share, according to the Form 4 insider trading disclosure.

At what price did Enrico Bruni sell Tradeweb (TW) shares?

The reported price is a weighted average of $119.27 per share. The Form 4 notes that individual trades occurred in a range from $118.99 to $119.63, and full price breakdowns are available upon request from the company or the SEC staff.

How many Tradeweb (TW) shares does Enrico Bruni own after this sale?

Following the transaction, Enrico Bruni is reported to beneficially own 102,319 shares of Tradeweb Class A common stock. This total includes several blocks of unvested restricted stock units scheduled to vest between March 2026 and March 2028, subject to continued employment conditions.

What restricted stock units (RSUs) are included in Enrico Bruni’s Tradeweb (TW) holdings?

Bruni’s reported holdings include 5,940 unvested RSUs vesting March 15, 2026; 6,741 unvested RSUs vesting in equal installments on March 15, 2026 and 2027; and 9,638 unvested RSUs vesting in equal installments on March 17, 2026, 2027, and 2028.

Was Enrico Bruni’s Tradeweb (TW) transaction a buy or sell trade?

The Form 4 identifies the transaction as a sale. It is coded as an open-market or private sale (transaction code “S”), with 17,380 shares of Tradeweb Class A common stock sold directly by Bruni on February 20, 2026.