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Tradeweb Markets Inc. (TW) CEO sells 72,450 shares in planned trade

Filing Impact
(Very High)
Filing Sentiment
(Very Negative)
Form Type
4

Rhea-AI Filing Summary

Tradeweb Markets Inc. Chief Executive Officer William Hult exercised stock options for 72,450 shares of Class A common stock at an exercise price of $20.5900 per share and sold 72,450 shares in open-market transactions at a weighted average price of $125.6199, pursuant to a Rule 10b5-1 trading plan adopted on November 3, 2025. After these transactions, he held 126,738 shares of Class A common stock, plus unvested restricted stock units totaling 68,414 shares scheduled to vest between March 15, 2026 and March 17, 2028, subject to continued employment.

Positive

  • None.

Negative

  • None.
Insider Hult William
Role Chief Executive Officer
Sold 72,450 shs ($9.10M)
Type Security Shares Price Value
Exercise Stock Option (Right to Buy) 72,450 $0.00 --
Exercise Class A common stock 72,450 $20.59 $1.49M
Sale Class A common stock 72,450 $125.6199 $9.10M
Holdings After Transaction: Stock Option (Right to Buy) — 0 shares (Direct); Class A common stock — 199,188 shares (Direct)
Footnotes (1)
  1. This transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on November 3, 2025. This amount includes (i) 14,376 unvested restricted stock units ("RSUs") in respect of the issuer's Class A common stock ("Class A Common Stock") which are scheduled to vest on March 15, 2026, (ii) 23,356 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) 30,682 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. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $125.00 to $126.54, 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 This option is fully vested and exercisable as of the date hereof.
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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).
X
 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*
Hult William
(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)
X Director 10% Owner
X Officer (give title below) Other (specify below)
Chief Executive Officer
3. Date of Earliest Transaction (Month/Day/Year)
03/03/2026
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 03/03/2026 M(1) 72,450 A $20.59 199,188(2) D
Class A common stock 03/03/2026 S(1) 72,450 D $125.6199(3) 126,738(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
Stock Option (Right to Buy) $20.59 03/03/2026 M(1) 72,450 (4) 10/26/2028 Class A common stock 72,450 $0 0 D
Explanation of Responses:
1. This transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on November 3, 2025.
2. This amount includes (i) 14,376 unvested restricted stock units ("RSUs") in respect of the issuer's Class A common stock ("Class A Common Stock") which are scheduled to vest on March 15, 2026, (ii) 23,356 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) 30,682 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.
3. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $125.00 to $126.54, 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
4. This option is fully vested and exercisable as of the date hereof.
Remarks:
/s/ Douglas Friedman, Attorney-in-Fact for William Hult 03/05/2026
** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What insider transactions did Tradeweb (TW) CEO William Hult report?

William Hult exercised stock options for 72,450 Class A shares at an exercise price of $20.5900 and sold 72,450 Class A shares at a weighted average price of $125.6199. These transactions occurred on March 3, 2026 under a pre-established Rule 10b5-1 plan.

Was the Tradeweb (TW) CEO’s stock sale pre-planned under Rule 10b5-1?

Yes. The sale of 72,450 Class A shares by CEO William Hult was effected under a Rule 10b5-1 trading plan adopted on November 3, 2025. Such plans allow insiders to schedule trades in advance, helping separate trading decisions from later market-sensitive information.

How many Tradeweb (TW) shares does CEO William Hult own after this Form 4?

After the reported transactions, William Hult directly held 126,738 shares of Tradeweb Class A common stock. In addition, he had 68,414 unvested restricted stock units scheduled to vest on various dates in 2026, 2027 and 2028, subject to continued employment.

What were the price details of the Tradeweb (TW) CEO’s stock sale?

The reported sale price of Tradeweb Class A common stock was a weighted average of $125.6199 per share. Shares were sold in multiple transactions at prices ranging from $125.00 to $126.54, and detailed trade breakdowns are available upon request from the reporting person.

What is the vesting schedule for the Tradeweb (TW) CEO’s RSUs?

William Hult’s holdings include 14,376 RSUs vesting on March 15, 2026; 23,356 RSUs vesting in equal installments on March 15, 2026 and March 15, 2027; and 30,682 RSUs vesting in equal installments on March 17, 2026, March 17, 2027 and March 17, 2028, contingent on continued employment.

Were the Tradeweb (TW) stock options held by the CEO fully vested?

Yes. The stock option exercised for 72,450 shares of Class A common stock was fully vested and exercisable as of the transaction date. This is confirmed by the disclosure that the option was fully vested and exercisable as of the date of the reported transactions.