Virtu Financial (VIRT) EVP Stephen Cavoli sells 28,370 shares, holds RSUs

Rhea-AI Filing Summary

Virtu Financial EVP Stephen Cavoli reported an open-market sale of Class A common stock. On February 17, 2026, he sold 28,370 shares at a weighted average price of $38.9375 per share, in transactions executed between $38.7065 and $39.16. Following this sale, he directly owned 116,191 shares of Class A common stock.

Cavoli also reported direct ownership of 85,463 restricted stock units (RSUs). Each RSU represents a contingent right to receive one share of Virtu Class A common stock under the company’s Second Amended and Restated 2015 Management Incentive Plan. These RSUs vest in installments in February 2027, February 2028, and February 2029.

Insider Trade Summary

Net Seller: 28,370 shares ($1,104,657)

Net Sell 2 txns

Insider Cavoli Stephen

Role EVP

Sold 28,370 shs ($1.10M)

Type	Security	Shares	Price	Value
Sale	Class A common stock	28,370	$38.9375	$1.10M
holding	Restricted Stock Unit	--	--	--

Holdings After Transaction: Class A common stock — 116,191 shares (Direct); Restricted Stock Unit — 85,463 shares (Direct)

Footnotes (1)

1. The price reported in Column 4 is a weighted average price. The shares were purchased in multiple transactions at prices ranging from $38.7065 to $39.16, inclusive. The reporting person undertakes to provide to the staff of the Securities and Exchange Commission, to any security holder of Virtu Financial, Inc., or to Virtu Financial, Inc., upon request, full information regarding the number of shares sold at each separate price within the range set forth above. Each RSU is granted under the Issuer's Second Amended and Restated 2015 Management Incentive Plan and represents a contingent right to receive one share of Class A common stock of the Issuer. The RSUs vest in installments in February 2027, February 2028 and February 2029.

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^*

Cavoli Stephen

(Last) (First) (Middle)

C/O VIRTU FINANCIAL, INC.

1633 BROADWAY

(Street)

NEW YORK NY 10019

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Virtu Financial, Inc. [ VIRT ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
02/17/2026

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	02/17/2026		S		28,370	D	$38.9375(1)	116,191	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
Restricted Stock Unit	(2)							(3)	(3)	Class A common stock	85,463		85,463	D

Explanation of Responses:

1. The price reported in Column 4 is a weighted average price. The shares were purchased in multiple transactions at prices ranging from $38.7065 to $39.16, inclusive. The reporting person undertakes to provide to the staff of the Securities and Exchange Commission, to any security holder of Virtu Financial, Inc., or to Virtu Financial, Inc., upon request, full information regarding the number of shares sold at each separate price within the range set forth above.

2. Each RSU is granted under the Issuer's Second Amended and Restated 2015 Management Incentive Plan and represents a contingent right to receive one share of Class A common stock of the Issuer.

3. The RSUs vest in installments in February 2027, February 2028 and February 2029.

Remarks:

	Justin Waldie, as Attorney-in-Fact	02/19/2026
	** 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 Virtu Financial (VIRT) report for Stephen Cavoli?

Virtu Financial reported that EVP Stephen Cavoli sold 28,370 shares of Class A common stock in an open-market transaction. The weighted average sale price was $38.9375 per share, with trades executed between $38.7065 and $39.16.

At what price did Stephen Cavoli sell Virtu Financial (VIRT) shares?

Stephen Cavoli sold Virtu Financial Class A common stock at a weighted average price of $38.9375 per share. Individual trades occurred in multiple transactions, with prices ranging from $38.7065 to $39.16, according to the reported Form 4 data.

How many Virtu Financial (VIRT) shares does Stephen Cavoli own after the sale?

After the reported sale, Stephen Cavoli directly owns 116,191 shares of Virtu Financial Class A common stock. This reflects his holdings immediately following the 28,370-share open-market sale disclosed in the Form 4 filing for February 17, 2026.

What restricted stock units does Stephen Cavoli hold in Virtu Financial (VIRT)?

Stephen Cavoli holds 85,463 restricted stock units (RSUs) in Virtu Financial. Each RSU represents a contingent right to receive one share of Class A common stock under the company’s 2015 Management Incentive Plan, subject to future vesting conditions.

When do Stephen Cavoli’s Virtu Financial (VIRT) RSUs vest?

Stephen Cavoli’s restricted stock units in Virtu Financial vest in three future installments. The RSUs are scheduled to vest in February 2027, February 2028, and February 2029, as disclosed in the Form 4 footnotes for the reported holdings.

What role does Stephen Cavoli hold at Virtu Financial (VIRT)?

Stephen Cavoli serves as an Executive Vice President (EVP) at Virtu Financial. His position is identified in the insider data accompanying the Form 4, which reports his recent open-market sale of Class A common stock and his RSU holdings.