Tradeweb (TW) CLO receives new RSUs, 2,306 shares withheld for tax

Rhea-AI Filing Summary

Tradeweb Markets Inc. Chief Legal Officer Douglas Friedman reported equity compensation and related tax withholding in Class A common stock. He received an award of 6,510 restricted stock units (RSUs) that will vest in three equal installments on the first, second and third anniversaries of March 15, 2026, subject to continued employment. The filing also shows 2,306 shares withheld by the company at $124.42 per share to cover tax obligations from RSU settlements, and 18 shares acquired through dividend equivalent rights tied to earlier RSU awards. Following these transactions, Friedman directly holds 17,350 shares of Class A common stock, alongside multiple blocks of unvested RSUs scheduled to vest between March 2026 and March 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^*

Friedman Douglas

(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)
	Chief Legal Officer

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)		6,510	A	$0	19,638(2)	D
Class A common stock	03/15/2026		F(3)		2,306	D	$124.42	17,332(2)	D
Class A common stock	03/15/2026		A(4)		18	A	$0	17,350(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) 1,990 unvested RSUs in respect of Class A Common Stock that are scheduled to vest on March 15, 2027, (ii) 3,631 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) 6,510 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	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).
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 equity awards did Tradeweb (TW) Chief Legal Officer Douglas Friedman receive?

Douglas Friedman received an award of 6,510 restricted stock units in respect of Tradeweb Class A common stock. These RSUs vest in three equal installments on the first, second and third anniversaries of March 15, 2026, provided he remains employed through each vesting date.

How many Tradeweb (TW) shares were withheld for Douglas Friedman’s taxes?

The filing shows 2,306 shares of Tradeweb Class A common stock were withheld by the issuer at $124.42 per share. These shares satisfied the tax withholding obligation associated with the settlement of restricted stock units held by Douglas Friedman.

How many Tradeweb (TW) shares does Douglas Friedman hold after these transactions?

After the reported transactions, Douglas Friedman directly holds 17,350 shares of Tradeweb Class A common stock. This total reflects RSU settlements, tax-withholding share reductions, and additional shares acquired through dividend equivalent rights linked to prior RSU awards.

What unvested RSUs does Douglas Friedman have in Tradeweb (TW) stock?

Douglas Friedman’s holdings include 1,990 unvested RSUs scheduled to vest on March 15, 2027 and 3,631 unvested RSUs vesting in equal installments on March 17, 2026, March 17, 2027 and March 17, 2028, plus 6,510 new RSUs vesting annually from March 2027 through March 2029.

What is the nature of the 18 Tradeweb (TW) shares acquired by Douglas Friedman?

The 18 shares represent Class A common stock acquired through the settlement of dividend equivalent rights. These dividend equivalent rights were granted in connection with previously awarded RSUs and settled in shares when the underlying RSUs were settled.