Tradeweb executive Bruni exercises 18,500 options

Tradeweb Markets Inc. executive Enrico Bruni, MD, Co-Head of Global Markets, exercised 18,500 stock options on November 3, 2026, at an exercise price of $20.59; the options were fully vested and exercisable.

Available on EDGAR 11/05/2026 - 04:57 PM EST Accepted by SEC EDGAR 11/05/2026 - 04:56 PM EST

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Rhea-AI Filing Summary

Tradeweb Markets Inc. executive Enrico Bruni, MD, Co-Head of Global Markets, exercised 18,500 stock options on November 3, 2026, at an exercise price of $20.59; the options were fully vested and exercisable. He acquired 18,500 Class A common shares and sold 12,563 shares at a weighted-average price of $126.01 and 5,937 shares at $126.79 that day. His reported post-exercise option balance was 48,674 shares. No Rule 10b5-1 plan is reported.

Insider Trade Summary

Exercise and Sale: 18,500 shares ($1.95M approx. pre-tax spread)

Exercise and Sale 4 txns

Insider Bruni Enrico

Role MD, Co-Head of Global Markets

Sold 18,500 shs ($2.34M)

Approx. gross sale proceeds $2.34M

Approx. exercise cost $381K

Approx. pre-tax spread $1.95M

Share of Position Sold 14.6%

Type	Security	Shares	Price	Value
Exercise	Stock Option (Right to Buy) ^F4	18,500	$0.00	$0.00
Exercise	Class A common stock	18,500	$20.59	$381K
Sale	Class A common stock ^F1	12,563	$126.01	$1.58M
Sale	Class A common stock ^{F2, F3}	5,937	$126.79	$753K

Holdings After Transaction: Stock Option (Right to Buy) — 48,674 contracts (Direct); Class A common stock — 108,234 shares (Direct)

Holdings Before and After: Stock Option (Right to Buy), 67,174 to 48,674 contracts (Direct); Class A common stock, 108,234 to 108,234 shares (Direct)

Footnotes (4)

F1. The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $125.58 to $126.56, 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. The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $126.59 to $127.07, 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.
F3. 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) 6,425 unvested RSUs in respect of Class A Common Stock that are scheduled to vest in equal installments on 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.
F4. This option is fully vested and exercisable as of the date hereof.

Key Figures

Stock options exercised: 18,500 options Exercise price: $20.59 per share Shares sold: 12,563 shares +4 more

7 metrics

Stock options exercised 18,500 options November 3, 2026

Exercise price $20.59 per share Options exercised November 3, 2026

Shares sold 12,563 shares November 3, 2026; weighted-average price $126.01 per share

Weighted-average sale price $126.01 per share Sale of 12,563 shares on November 3, 2026

Shares sold 5,937 shares November 3, 2026; weighted-average price $126.79 per share

Weighted-average sale price $126.79 per share Sale of 5,937 shares on November 3, 2026

Post-exercise option balance 48,674 shares Following the November 3, 2026 exercise

Key Terms

weighted average price, unvested RSUs, fully vested and exercisable

3 terms

weighted average price financial

"The price reported is a weighted average price."

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

unvested RSUs financial

"3,371 unvested RSUs in respect of Class A Common Stock"

fully vested and exercisable technical

"This option is fully vested and exercisable"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many TW shares did Enrico Bruni sell, and at what prices?

On November 3, 2026, Enrico Bruni sold 12,563 Class A common shares at a weighted-average price of $126.01 and 5,937 shares at $126.79. The first sale prices ranged from $125.58 to $126.56, and the second ranged from $126.59 to $127.07. No Rule 10b5-1 plan is reported.

How many TW stock options did Enrico Bruni exercise?

Enrico Bruni exercised 18,500 stock options at $20.59 per share on November 3, 2026. The options were fully vested and exercisable, and the reported post-exercise option balance was 48,674 shares.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →

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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^*

Bruni Enrico

(Last)

(First)

(Middle)

TRADEWEB MARKETS INC.

245 PARK AVENUE

(Street)

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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
11/03/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class A common stock	11/03/2026		M		18,500	A	$20.59	126,734	D
Class A common stock	11/03/2026		S		12,563	D	$126.01⁽¹⁾	114,171	D
Class A common stock	11/03/2026		S		5,937	D	$126.79⁽²⁾	108,234⁽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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Stock Option (Right to Buy)	$20.59	11/03/2026		M			18,500	⁽⁴⁾	10/26/2028	Class A common stock	18,500	$0	48,674	D

Explanation of Responses:

1. The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $125.58 to $126.56, 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. The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $126.59 to $127.07, 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.

3. 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) 6,425 unvested RSUs in respect of Class A Common Stock that are scheduled to vest in equal installments on 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.

4. This option is fully vested and exercisable as of the date hereof.

Remarks:

	/s/ Douglas Friedman, Attorney-in-Fact for Enrico Bruni	11/05/2026
	** 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)

Source: View Original Filing on SEC EDGAR