Director Jacques Aigrain (TW) receives 2,668 RSUs in deferred equity award at Tradeweb

Rhea-AI Filing Summary

AIGRAIN JACQUES reported acquisition or exercise transactions in this Form 4 filing.

Tradeweb Markets Inc. director Jacques Aigrain reported receiving an equity award tied to the company’s Class A common stock. He was granted 2,668 restricted stock units (RSUs), bringing his reported direct holdings to 12,222 shares, including these unvested RSUs scheduled to vest on May 19, 2027 under the company’s non‑employee director compensation programs.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider AIGRAIN JACQUES

Role null

Type	Security	Shares	Price	Value
Grant/Award	Class A common stock	2,668	$0.00	--

Holdings After Transaction: Class A common stock — 12,222 shares (Direct, null)

Footnotes (1)

1. The reported transaction is an award of restricted stock units ("RSUs") in respect of the issuer's Class A common stock (the "Class A Common Stock"). Subject to the reporting person's continued service as a director of the issuer through the vesting date, these RSUs are scheduled to vest on May 19, 2027 and, absent an election to defer settlement, settle in Class A Common Stock within 30 days thereafter, or may be pro-rated in accordance with the issuer's Non-Employee Director Compensation Policy, as disclosed in the issuer's Proxy Statement on DEF 14A filed with the SEC on March 26, 2026. In accordance with the terms of the issuer's Non-employee Directors Deferred Compensation Plan (the "Deferred Compensation Plan"), the reporting person has previously elected to defer the settlement of the RSUs upon vesting, and will instead receive an equal number of phantom shares that will settle in shares of the Class A Common Stock in accordance with the reporting person's election and the terms of the Deferred Compensation Plan. This amount includes 2,668 unvested RSUs in respect of the Class A Common Stock that are scheduled to vest on May 19, 2027, subject to the reporting person's continued service as a director through the applicable vesting date or as may be pro-rated pursuant to the terms set forth in footnote 1 to this Form 4.

Key Figures

RSUs granted: 2,668 RSUs Holdings after transaction: 12,222 shares Vesting date: May 19, 2027

3 metrics

RSUs granted 2,668 RSUs Award of restricted stock units on May 19, 2026

Holdings after transaction 12,222 shares Class A common stock directly held after RSU grant

Vesting date May 19, 2027 Scheduled vesting of 2,668 RSUs, subject to continued service

Key Terms

restricted stock units ("RSUs"), Non-Employee Director Compensation Policy, Deferred Compensation Plan, phantom shares

4 terms

restricted stock units ("RSUs") financial

"The reported transaction is an award of restricted stock units ("RSUs") in respect of the issuer's Class A common stock"

Restricted stock units (RSUs) are a company promise to give an employee shares of stock (or cash equivalent) in the future, but only after certain conditions—usually staying with the company for a set time or hitting performance goals—are met. Investors watch RSUs because when they vest they increase the number of shares outstanding and can lead insiders to sell shares, affecting share price, company dilution and the true cost of employee pay.

Non-Employee Director Compensation Policy financial

"may be pro-rated in accordance with the issuer's Non-Employee Director Compensation Policy"

Deferred Compensation Plan financial

"In accordance with the terms of the issuer's Non-employee Directors Deferred Compensation Plan (the "Deferred Compensation Plan")"

A deferred compensation plan is an arrangement where an employer agrees to pay part of an employee’s pay or bonus at a later date instead of immediately, often to reduce current tax bills or to tie rewards to long-term performance. For investors it matters because these promises create future cash obligations and influence executive incentives and retention; they can affect a company’s reported liabilities, cash flow planning and the risk profile if the business faces financial trouble.

phantom shares financial

"will instead receive an equal number of phantom shares that will settle in shares of the Class A Common Stock"

Phantom shares are a form of employee or executive compensation that mimics the economic value of owning company stock without actually issuing real shares; holders receive cash or equivalent payments tied to the company’s share price or dividends. Think of it like a receipt that pays out if the stock rises — it aligns managers’ interests with shareholders but does not dilute ownership, while creating a future cash obligation that investors should watch as it can affect company cash flow and valuation.

Form 4 Insider Transactions: What Each Field Means →

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).

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^*

AIGRAIN JACQUES

(Last) (First) (Middle)

TRADEWEB MARKETS INC.

245 PARK AVENUE

(Street)

NEW YORK NEW YORK 10167

(City) (State) (Zip)

UNITED STATES

(Country)

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

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

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/19/2026

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

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

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

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	05/19/2026		A(1)(2)		2,668	A	$0	12,222(3)	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 (the "Class A Common Stock"). Subject to the reporting person's continued service as a director of the issuer through the vesting date, these RSUs are scheduled to vest on May 19, 2027 and, absent an election to defer settlement, settle in Class A Common Stock within 30 days thereafter, or may be pro-rated in accordance with the issuer's Non-Employee Director Compensation Policy, as disclosed in the issuer's Proxy Statement on DEF 14A filed with the SEC on March 26, 2026.

2. In accordance with the terms of the issuer's Non-employee Directors Deferred Compensation Plan (the "Deferred Compensation Plan"), the reporting person has previously elected to defer the settlement of the RSUs upon vesting, and will instead receive an equal number of phantom shares that will settle in shares of the Class A Common Stock in accordance with the reporting person's election and the terms of the Deferred Compensation Plan.

3. This amount includes 2,668 unvested RSUs in respect of the Class A Common Stock that are scheduled to vest on May 19, 2027, subject to the reporting person's continued service as a director through the applicable vesting date or as may be pro-rated pursuant to the terms set forth in footnote 1 to this Form 4.

Remarks:

	/s/ Douglas Friedman, Attorney-in-Fact for Jacques Aigrain	05/20/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction did Tradeweb Markets (TW) report for Jacques Aigrain?

Tradeweb director Jacques Aigrain reported receiving a grant of 2,668 restricted stock units (RSUs) linked to Class A common stock. The award is part of non‑employee director compensation and does not involve an open‑market purchase or sale of shares.

How many Tradeweb (TW) shares does Jacques Aigrain hold after this Form 4?

After the reported RSU grant, Jacques Aigrain is shown holding 12,222 shares of Tradeweb Class A common stock directly. This total includes 2,668 unvested RSUs that are scheduled to vest in 2027, assuming he continues serving as a director.

When do Jacques Aigrain’s new Tradeweb (TW) RSUs vest and settle?

The 2,668 RSUs awarded to Jacques Aigrain are scheduled to vest on May 19, 2027, subject to his continued board service. Under his prior deferral election, they convert into phantom shares and later settle in Class A common stock under the Deferred Compensation Plan’s terms.

Is the Tradeweb (TW) Form 4 for Jacques Aigrain a stock buy or sell?

The Form 4 for Jacques Aigrain reflects an acquisition through a grant of 2,668 RSUs, not an open‑market buy or sell. It is categorized as a grant or award related to director compensation, with no purchase price and deferred settlement features.

What is the role of Tradeweb’s Deferred Compensation Plan in this Form 4?

Under Tradeweb’s Non‑employee Directors Deferred Compensation Plan, Aigrain elected to defer settlement of vested RSUs. When the 2,668 RSUs vest, they convert into an equal number of phantom shares, which later settle in Class A common stock according to his deferral election.