Reported relationships
Latest disclosed role at each company.
| Company | Last reported as | Report date | Published |
|---|---|---|---|
| Virtu Financial, Inc.VIRT · Entity 3811 | Co-President & Co-COO | May 08, 2026 | May 09, 2026 |
Disclosed balances
About these balances
Latest available filing per company, not a reconstructed current portfolio. Matching sequences show the last reported balance with all source rows expandable; grouping alone does not establish account ownership. Do not add unresolved positions together. Filings may omit unchanged positions, and amendments may correct only part of an older disclosure. Jointly reported shares are not necessarily this owner's personal holdings.
Virtu Financial, Inc.
Report date May 08, 2026 · Filed May 09, 2026
| Security / award | Ownership account | Disclosed shares / units | Disclosure context |
|---|---|---|---|
| Class A common stockSEC Table I · non-derivative | Direct | 42,473 |
Ending reported balance
After 2026-05-08 transaction · row 2
2 source rows · reconciled sequenceRow 1 · 2026-05-08 · Sale · Disposed 14,632 · Balance 57,841 F1: The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $49.60 to $49.885, 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. Row 2 · 2026-05-08 · Sale · Disposed 15,368 · Balance 42,473 F2: The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $49.89 to $50.605, 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. |
| Restricted Stock UnitSEC Table II · derivative / convertible security | Direct | 86,346 |
Reported balance
Holding disclosure · report date 2026-05-08 · row 3
Instrument identity requires review; Table II rows are not merged.
1 source rowRow 3 · Balance 86,346 F3: 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. F4: 37,500 of the RSUs vest on January 31, 2027, 11,192 of the RSUs vest on February 2, 2027, 15,061 of the RSUs vest in two equal installments on February 4, 2027 and February 4, 2028, and 22,593 of the RSUs vest in three equal installments on February 4, 2027, February 4, 2028 and February 4, 2029. |
| Non-voting common interest units of Virtu Financial LLCSEC Table II · derivative / convertible security | IndirectSee footnote | 10,930 |
Reported balance
Holding disclosure · report date 2026-05-08 · row 4
Instrument identity requires review; Table II rows are not merged.
1 source rowRow 4 · Balance 10,930 F5: Pursuant to the terms of the Exchange Agreement, effective as of April 15, 2015, by and among the Issuer, Virtu Financial LLC and the equityholders of Virtu Financial LLC (the "Exchange Agreement"), Virtu Financial Units, together with a corresponding number of shares of Class C Common Stock, may be exchanged for shares of Class A common stock of the Issuer, which have one vote per share and economic rights (including rights to dividends and distributions upon liquidation), on a one-for-one basis at the discretion of the holder. The exchange rights under the Exchange Agreement do not expire. F6: By Virtu Employee Holdco LLC, a holding vehicle through which employees and directors of the Issuer hold vested and unvested Virtu Financial Units and shares of Class C Common Stock. The reporting person disclaims beneficial ownership in such Virtu Financial Units and shares held by Virtu Employee Holdco LLC except to the extent of his pecuniary interest therein. |
Filing footnotes · ownership attribution and instrument terms
F1: The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $49.60 to $49.885, 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.
F2: The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $49.89 to $50.605, 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.
F3: 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.
F4: 37,500 of the RSUs vest on January 31, 2027, 11,192 of the RSUs vest on February 2, 2027, 15,061 of the RSUs vest in two equal installments on February 4, 2027 and February 4, 2028, and 22,593 of the RSUs vest in three equal installments on February 4, 2027, February 4, 2028 and February 4, 2029.
F5: Pursuant to the terms of the Exchange Agreement, effective as of April 15, 2015, by and among the Issuer, Virtu Financial LLC and the equityholders of Virtu Financial LLC (the "Exchange Agreement"), Virtu Financial Units, together with a corresponding number of shares of Class C Common Stock, may be exchanged for shares of Class A common stock of the Issuer, which have one vote per share and economic rights (including rights to dividends and distributions upon liquidation), on a one-for-one basis at the discretion of the holder. The exchange rights under the Exchange Agreement do not expire.
F6: By Virtu Employee Holdco LLC, a holding vehicle through which employees and directors of the Issuer hold vested and unvested Virtu Financial Units and shares of Class C Common Stock. The reporting person disclaims beneficial ownership in such Virtu Financial Units and shares held by Virtu Employee Holdco LLC except to the extent of his pecuniary interest therein.
Transaction history
JSON APIPurchases/sales include open-market and private transactions. Plan disclosure applies to the filing; individual rows may differ. “Not disclosed” is not “unplanned.”
The cutoff filters transaction history only. Company summaries and owner relationships show the latest available disclosures. Parser corrections can improve historical records.
| Transaction date | Company | Activity / security | Shares / units | Reported price | Reported value | Details |
|---|---|---|---|---|---|---|
| May 08, 2026 Filed May 9, 2026 01:51 UTC | Virtu Financial, Inc. VIRT · Entity 3811 | SaleClass A common stock | 15,368 | $50.29 | $772,858.26 |
DisclosureSEC source: 0001788170-26-000006 · wk-form4_1778291472.xml · nonDerivative · entry 2 Fairclough Brett · CIK 0001788170 · Co-President & Co-COO 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 42,473 F2 · price: The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $49.89 to $50.605, 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. Read SEC document |
| May 08, 2026 Filed May 9, 2026 01:51 UTC | Virtu Financial, Inc. VIRT · Entity 3811 | SaleClass A common stock | 14,632 | $49.82 | $728,995.50 |
DisclosureSEC source: 0001788170-26-000006 · wk-form4_1778291472.xml · nonDerivative · entry 1 Fairclough Brett · CIK 0001788170 · Co-President & Co-COO 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 57,841 F1 · price: The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $49.60 to $49.885, 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. Read SEC document |
| February 04, 2026 Filed Feb 6, 2026 01:38 UTC | Virtu Financial, Inc. VIRT · Entity 3811 | GrantRestricted Stock Unit · Derivative | 22,593 | $0.00 | $0.00 |
DisclosureSEC source: 0001788170-26-000004 · wk-form4_1770341929.xml · derivative · entry 9 Fairclough Brett · CIK 0001788170 · Co-President & Co-COO 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 86,346 Underlying: Class A common stock · 22,593 shares Expires not disclosed F4 · derivative.exercise_price: 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. F7 · derivative.exercise_date: The RSUs vest in equal annual installments on February 4, 2027, February 4, 2028 and February 4, 2029. F7 · derivative.expiration_date: The RSUs vest in equal annual installments on February 4, 2027, February 4, 2028 and February 4, 2029. Read SEC document |
| February 04, 2026 Filed Feb 6, 2026 01:38 UTC | Virtu Financial, Inc. VIRT · Entity 3811 | Exercise / conversionRestricted Stock Unit · Derivative | 7,531 | $0.00 | $0.00 |
DisclosureSEC source: 0001788170-26-000004 · wk-form4_1770341929.xml · derivative · entry 8 Fairclough Brett · CIK 0001788170 · Co-President & Co-COO 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 63,753 Underlying: Class A common stock · 7,531 shares Expires not disclosed Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event. F4 · derivative.exercise_price: 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. F6 · derivative.exercise_date: The RSUs vested on February 4, 2026. F6 · derivative.expiration_date: The RSUs vested on February 4, 2026. Read SEC document |
| February 04, 2026 Filed Feb 6, 2026 01:38 UTC | Virtu Financial, Inc. VIRT · Entity 3811 | Tax withholdingClass A common stock | 5,947 | Not disclosed | Not disclosed |
DisclosureSEC source: 0001788170-26-000004 · wk-form4_1770341929.xml · nonDerivative · entry 6 Fairclough Brett · CIK 0001788170 · Co-President & Co-COO 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 72,473 F2 · price: Shares of Class A common stock withheld for tax by the Issuer in relation to the settlement of vested RSUs in accordance with the Issuer's Amended and Restated 2015 Management Incentive Plan. Read SEC document |
| February 04, 2026 Filed Feb 6, 2026 01:38 UTC | Virtu Financial, Inc. VIRT · Entity 3811 | GrantClass A common stock | 15,062 | Not disclosed | Not disclosed |
DisclosureSEC source: 0001788170-26-000004 · wk-form4_1770341929.xml · nonDerivative · entry 5 Fairclough Brett · CIK 0001788170 · Co-President & Co-COO 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 78,420 F3 · price: Shares of Class A common stock granted under the Issuer's Second Amended and Restated 2015 Management Incentive Plan. Read SEC document |
| February 04, 2026 Filed Feb 6, 2026 01:38 UTC | Virtu Financial, Inc. VIRT · Entity 3811 | Tax withholdingClass A common stock | 2,974 | Not disclosed | Not disclosed |
DisclosureSEC source: 0001788170-26-000004 · wk-form4_1770341929.xml · nonDerivative · entry 4 Fairclough Brett · CIK 0001788170 · Co-President & Co-COO 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 63,358 F2 · price: Shares of Class A common stock withheld for tax by the Issuer in relation to the settlement of vested RSUs in accordance with the Issuer's Amended and Restated 2015 Management Incentive Plan. Read SEC document |
| February 04, 2026 Filed Feb 6, 2026 01:38 UTC | Virtu Financial, Inc. VIRT · Entity 3811 | Exercise / conversionClass A common stock | 7,531 | Not disclosed | Not disclosed |
DisclosureSEC source: 0001788170-26-000004 · wk-form4_1770341929.xml · nonDerivative · entry 3 Fairclough Brett · CIK 0001788170 · Co-President & Co-COO 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 66,332 Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event. F1 · price: Shares of Class A common stock issued in settlement of vested RSUs granted under the Issuer's Second Amended and Restated 2015 Management Incentive Plan. Read SEC document |
| February 03, 2026 Filed Feb 6, 2026 01:38 UTC | Virtu Financial, Inc. VIRT · Entity 3811 | Exercise / conversionRestricted Stock Unit · Derivative | 11,588 | $0.00 | $0.00 |
DisclosureSEC source: 0001788170-26-000004 · wk-form4_1770341929.xml · derivative · entry 7 Fairclough Brett · CIK 0001788170 · Co-President & Co-COO 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 71,284 Underlying: Class A common stock · 11,588 shares Expires not disclosed Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event. F4 · derivative.exercise_price: 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. F5 · derivative.exercise_date: The RSUs vested on February 3, 2026. F5 · derivative.expiration_date: The RSUs vested on February 3, 2026. Read SEC document |
| February 03, 2026 Filed Feb 6, 2026 01:38 UTC | Virtu Financial, Inc. VIRT · Entity 3811 | Tax withholdingClass A common stock | 4,602 | Not disclosed | Not disclosed |
DisclosureSEC source: 0001788170-26-000004 · wk-form4_1770341929.xml · nonDerivative · entry 2 Fairclough Brett · CIK 0001788170 · Co-President & Co-COO 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 58,801 F2 · price: Shares of Class A common stock withheld for tax by the Issuer in relation to the settlement of vested RSUs in accordance with the Issuer's Amended and Restated 2015 Management Incentive Plan. Read SEC document |
| February 03, 2026 Filed Feb 6, 2026 01:38 UTC | Virtu Financial, Inc. VIRT · Entity 3811 | Exercise / conversionClass A common stock | 11,588 | Not disclosed | Not disclosed |
DisclosureSEC source: 0001788170-26-000004 · wk-form4_1770341929.xml · nonDerivative · entry 1 Fairclough Brett · CIK 0001788170 · Co-President & Co-COO 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 63,403 Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event. F1 · price: Shares of Class A common stock issued in settlement of vested RSUs granted under the Issuer's Second Amended and Restated 2015 Management Incentive Plan. Read SEC document |
| February 02, 2026 Filed Feb 4, 2026 00:47 UTC | Virtu Financial, Inc. VIRT · Entity 3811 | Tax withholdingClass A common stock | 4,462 | Not disclosed | Not disclosed |
DisclosureSEC source: 0001788170-26-000002 · wk-form4_1770166021.xml · nonDerivative · entry 6 Fairclough Brett · CIK 0001788170 · Co-President & Co-COO 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 51,815 F2 · price: Shares of Class A common stock withheld for tax by the Issuer in relation to the settlement of vested RSUs in accordance with the Issuer's Second Amended and Restated 2015 Management Incentive Plan. Read SEC document |
| February 02, 2026 Filed Feb 4, 2026 00:47 UTC | Virtu Financial, Inc. VIRT · Entity 3811 | Exercise / conversionClass A common stock | 11,193 | Not disclosed | Not disclosed |
DisclosureSEC source: 0001788170-26-000002 · wk-form4_1770166021.xml · nonDerivative · entry 5 Fairclough Brett · CIK 0001788170 · Co-President & Co-COO 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 56,277 Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event. F4 · price: Shares of Class A common stock issued in settlement of vested RSUs granted under the Issuer's Second Amended and Restated 2015 Management Incentive Plan. Read SEC document |
| January 31, 2026 Filed Feb 4, 2026 00:47 UTC | Virtu Financial, Inc. VIRT · Entity 3811 | Exercise / conversionRestricted Stock Unit · Derivative | 11,193 | $0.00 | $0.00 |
DisclosureSEC source: 0001788170-26-000002 · wk-form4_1770166021.xml · derivative · entry 9 Fairclough Brett · CIK 0001788170 · Co-President & Co-COO 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 82,872 Underlying: Class A common stock · 11,193 shares Expires not disclosed Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event. F8 · derivative.exercise_price: Each RSU is granted under the Issuer's Amended and Restated 2015 Management Incentive Plan and represents a contingent right to receive one share of Class A common stock of the Issuer. F9 · derivative.exercise_date: The RSUs vested on February 2, 2026. F9 · derivative.expiration_date: The RSUs vested on February 2, 2026. Read SEC document |
| January 31, 2026 Filed Feb 4, 2026 00:47 UTC | Virtu Financial, Inc. VIRT · Entity 3811 | GrantRestricted Stock Unit · Derivative | 37,500 | $0.00 | $0.00 |
DisclosureSEC source: 0001788170-26-000002 · wk-form4_1770166021.xml · derivative · entry 8 Fairclough Brett · CIK 0001788170 · Co-President & Co-COO 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 94,065 Underlying: Class A common stock · 37,500 shares Expires not disclosed F6 · derivative.exercise_price: 37,500 RSUs were earned as a result of the Issuer's achievement of associated performance objective for 2025. The RSUs were granted under the Issuer's Second Amended and Restated 2015 Management Incentive pursuant to the Amended and Restated Employment Agreement between the Issuer and Mr. Brett Fairclough. F7 · derivative.exercise_date: The RSUs vest January 31, 2027. F7 · derivative.expiration_date: The RSUs vest January 31, 2027. Read SEC document |
| January 31, 2026 Filed Feb 4, 2026 00:47 UTC | Virtu Financial, Inc. VIRT · Entity 3811 | Exercise / conversionRestricted Stock Unit · Derivative | 37,500 | $0.00 | $0.00 |
DisclosureSEC source: 0001788170-26-000002 · wk-form4_1770166021.xml · derivative · entry 7 Fairclough Brett · CIK 0001788170 · Co-President & Co-COO 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 56,565 Underlying: Class A common stock · 37,500 shares Expires not disclosed Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event. F1 · derivative.exercise_price: 37,500 RSUs were earned as a result of the Issuer's achievement of associated performance objective for 2024 and vested and settled in shares of Class A common stock on January 31, 2026. The RSUs were granted under the Issuer's Second Amended and Restated 2015 Management Incentive pursuant to the Amended and Restated Employment Agreement between the Issuer and Mr. Brett Fairclough. F5 · derivative.exercise_date: The RSUs vested January 31, 2026. F5 · derivative.expiration_date: The RSUs vested January 31, 2026. Read SEC document |
| January 31, 2026 Filed Feb 4, 2026 00:47 UTC | Virtu Financial, Inc. VIRT · Entity 3811 | Tax withholdingClass A common stock | 14,958 | Not disclosed | Not disclosed |
DisclosureSEC source: 0001788170-26-000002 · wk-form4_1770166021.xml · nonDerivative · entry 4 Fairclough Brett · CIK 0001788170 · Co-President & Co-COO 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 45,084 F2 · price: Shares of Class A common stock withheld for tax by the Issuer in relation to the settlement of vested RSUs in accordance with the Issuer's Second Amended and Restated 2015 Management Incentive Plan. Read SEC document |
| January 31, 2026 Filed Feb 4, 2026 00:47 UTC | Virtu Financial, Inc. VIRT · Entity 3811 | GrantClass A common stock | 37,500 | Not disclosed | Not disclosed |
DisclosureSEC source: 0001788170-26-000002 · wk-form4_1770166021.xml · nonDerivative · entry 3 Fairclough Brett · CIK 0001788170 · Co-President & Co-COO 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 60,042 F3 · price: 37,500 shares of class A common stock were earned as a result of the Issuer's achievement of associated performance objective for 2025 and vested on January 31, 2026. The shares were granted under the Issuer's Second Amended and Restated 2015 Management Incentive pursuant to the Amended and Restated Employment Agreement between the Issuer and Mr. Brett Fairclough. Read SEC document |
| January 31, 2026 Filed Feb 4, 2026 00:47 UTC | Virtu Financial, Inc. VIRT · Entity 3811 | Tax withholdingClass A common stock | 14,958 | Not disclosed | Not disclosed |
DisclosureSEC source: 0001788170-26-000002 · wk-form4_1770166021.xml · nonDerivative · entry 2 Fairclough Brett · CIK 0001788170 · Co-President & Co-COO 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 22,542 F2 · price: Shares of Class A common stock withheld for tax by the Issuer in relation to the settlement of vested RSUs in accordance with the Issuer's Second Amended and Restated 2015 Management Incentive Plan. Read SEC document |
| January 31, 2026 Filed Feb 4, 2026 00:47 UTC | Virtu Financial, Inc. VIRT · Entity 3811 | Exercise / conversionClass A common stock | 37,500 | Not disclosed | Not disclosed |
DisclosureSEC source: 0001788170-26-000002 · wk-form4_1770166021.xml · nonDerivative · entry 1 Fairclough Brett · CIK 0001788170 · Co-President & Co-COO 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 37,500 Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event. F1 · price: 37,500 RSUs were earned as a result of the Issuer's achievement of associated performance objective for 2024 and vested and settled in shares of Class A common stock on January 31, 2026. The RSUs were granted under the Issuer's Second Amended and Restated 2015 Management Incentive pursuant to the Amended and Restated Employment Agreement between the Issuer and Mr. Brett Fairclough. Read SEC document |
| August 07, 2025 Filed Aug 8, 2025 21:22 UTC | Virtu Financial, Inc. VIRT · Entity 3811 | SaleClass A common stock | 90,701 | $42.40 | $3,846,048.92 |
DisclosureSEC source: 0001592386-25-000132 · wk-form4_1754688141.xml · nonDerivative · entry 1 Fairclough Brett · CIK 0001788170 · Co-President & Co-COO 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 0 F1 · price: The price reported in Column 4 is a weighted average price. The shares were purchased in multiple transactions at prices ranging from $42.225 to $42.66, 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. Read SEC document |
| February 12, 2025 Filed Feb 14, 2025 22:34 UTC | Virtu Financial, Inc. VIRT · Entity 3811 | SaleClass A common stock | 72,967 | $36.84 | $2,688,439.93 |
DisclosureSEC source: 0001592386-25-000045 · wk-form4_1739572475.xml · nonDerivative · entry 1 Fairclough Brett · CIK 0001788170 · Co-President & Co-COO 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 90,749 F1 · price: The price reported in Column 4 is a weighted average price. The shares were purchased in multiple transactions at prices ranging from $36.66 to $37.25, 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. Read SEC document |
| February 04, 2025 Filed Feb 6, 2025 23:08 UTC | Virtu Financial, Inc. VIRT · Entity 3811 | GrantRestricted Stock Unit · Derivative | 22,592 | $0.00 | $0.00 |
DisclosureSEC source: 0001592386-25-000040 · wk-form4_1738883282.xml · derivative · entry 3 Fairclough Brett · CIK 0001788170 · Co-President & Co-COO 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 94,065 Underlying: Class A common stock · 22,592 shares Expires not disclosed F3 · derivative.exercise_price: Each RSU is granted under the Issuer's Amended and Restated 2015 Management Incentive Plan and represents a contingent right to receive one share of Class A common stock of the Issuer. F4 · derivative.exercise_date: The RSUs vest in three equal installments on February 2026, 2027 and 2028. F4 · derivative.expiration_date: The RSUs vest in three equal installments on February 2026, 2027 and 2028. Read SEC document |
| February 04, 2025 Filed Feb 6, 2025 23:08 UTC | Virtu Financial, Inc. VIRT · Entity 3811 | Tax withholdingClass A common stock | 5,927 | Not disclosed | Not disclosed |
DisclosureSEC source: 0001592386-25-000040 · wk-form4_1738883282.xml · nonDerivative · entry 2 Fairclough Brett · CIK 0001788170 · Co-President & Co-COO 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 163,716 F2 · price: Shares of Class A common stock withheld for tax by the Issuer in accordance with the Issuer's Amended and Restated 2015 Management Incentive Plan. Read SEC document |
| February 04, 2025 Filed Feb 6, 2025 23:08 UTC | Virtu Financial, Inc. VIRT · Entity 3811 | GrantClass A common stock | 15,062 | Not disclosed | Not disclosed |
DisclosureSEC source: 0001592386-25-000040 · wk-form4_1738883282.xml · nonDerivative · entry 1 Fairclough Brett · CIK 0001788170 · Co-President & Co-COO 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 169,643 F1 · price: Shares of Class A common stock granted under the Issuer's Amended and Restated 2015 Management Incentive Plan based on the volume weighted average price of the Issuer's Class A common stock on the three trading days preceding the grant date of $39.8369. Read SEC document |
| February 03, 2025 Filed Feb 6, 2025 01:26 UTC | Virtu Financial, Inc. VIRT · Entity 3811 | Exercise / conversionRestricted Stock Unit · Derivative | 11,588 | $0.00 | $0.00 |
DisclosureSEC source: 0001592386-25-000028 · wk-form4_1738805168.xml · derivative · entry 6 Fairclough Brett · CIK 0001788170 · Co-President & Co-COO 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 71,473 Underlying: Class A common stock · 11,588 shares Expires not disclosed Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event. F3 · derivative.exercise_price: Each RSU is granted under the Issuer's Amended and Restated 2015 Management Incentive Plan and represents a contingent right to receive one share of Class A common stock of the Issuer. F5 · derivative.exercise_date: The RSUs vest on February 3, 2025 and February 3, 2026. F5 · derivative.expiration_date: The RSUs vest on February 3, 2025 and February 3, 2026. Read SEC document |
| February 03, 2025 Filed Feb 6, 2025 01:26 UTC | Virtu Financial, Inc. VIRT · Entity 3811 | Exercise / conversionRestricted Stock Unit · Derivative | 8,130 | $0.00 | $0.00 |
DisclosureSEC source: 0001592386-25-000028 · wk-form4_1738805168.xml · derivative · entry 5 Fairclough Brett · CIK 0001788170 · Co-President & Co-COO 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 83,061 Underlying: Class A common stock · 8,130 shares Expires not disclosed Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event. F3 · derivative.exercise_price: Each RSU is granted under the Issuer's Amended and Restated 2015 Management Incentive Plan and represents a contingent right to receive one share of Class A common stock of the Issuer. F4 · derivative.exercise_date: The RSUs vested on February 3, 2025. F4 · derivative.expiration_date: The RSUs vested on February 3, 2025. Read SEC document |
| February 03, 2025 Filed Feb 6, 2025 01:26 UTC | Virtu Financial, Inc. VIRT · Entity 3811 | Tax withholdingClass A common stock | 4,594 | Not disclosed | Not disclosed |
DisclosureSEC source: 0001592386-25-000028 · wk-form4_1738805168.xml · nonDerivative · entry 4 Fairclough Brett · CIK 0001788170 · Co-President & Co-COO 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 154,581 F2 · price: Shares of Class A common stock withheld for tax by the Issuer in relation to the settlement of vested RSUs in accordance with the Issuer's Amended and Restated 2015 Management Incentive Plan. Read SEC document |
| February 03, 2025 Filed Feb 6, 2025 01:26 UTC | Virtu Financial, Inc. VIRT · Entity 3811 | Exercise / conversionClass A common stock | 11,588 | Not disclosed | Not disclosed |
DisclosureSEC source: 0001592386-25-000028 · wk-form4_1738805168.xml · nonDerivative · entry 3 Fairclough Brett · CIK 0001788170 · Co-President & Co-COO 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 159,175 Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event. F1 · price: Shares of Class A common stock issued in settlement of vested restricted stock units ("RSUs") granted under the Issuer's Amended and Restated 2015 Management Incentive Plan. Read SEC document |
| February 03, 2025 Filed Feb 6, 2025 01:26 UTC | Virtu Financial, Inc. VIRT · Entity 3811 | Tax withholdingClass A common stock | 3,215 | Not disclosed | Not disclosed |
DisclosureSEC source: 0001592386-25-000028 · wk-form4_1738805168.xml · nonDerivative · entry 2 Fairclough Brett · CIK 0001788170 · Co-President & Co-COO 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 147,587 F2 · price: Shares of Class A common stock withheld for tax by the Issuer in relation to the settlement of vested RSUs in accordance with the Issuer's Amended and Restated 2015 Management Incentive Plan. Read SEC document |
| February 03, 2025 Filed Feb 6, 2025 01:26 UTC | Virtu Financial, Inc. VIRT · Entity 3811 | Exercise / conversionClass A common stock | 8,130 | Not disclosed | Not disclosed |
DisclosureSEC source: 0001592386-25-000028 · wk-form4_1738805168.xml · nonDerivative · entry 1 Fairclough Brett · CIK 0001788170 · Co-President & Co-COO 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 150,802 Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event. F1 · price: Shares of Class A common stock issued in settlement of vested restricted stock units ("RSUs") granted under the Issuer's Amended and Restated 2015 Management Incentive Plan. Read SEC document |
| February 02, 2025 Filed Feb 5, 2025 02:42 UTC | Virtu Financial, Inc. VIRT · Entity 3811 | Exercise / conversionRestricted Stock Unit · Derivative | 11,193 | $0.00 | $0.00 |
DisclosureSEC source: 0001592386-25-000020 · wk-form4_1738723320.xml · derivative · entry 9 Fairclough Brett · CIK 0001788170 · Co-President & Co-COO 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 91,191 Underlying: Class A common stock · 11,193 shares Expires not disclosed Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event. F9 · derivative.exercise_price: Each RSU is granted under the Issuer's Amended and Restated 2015 Management Incentive Plan and represents a contingent right to receive one share of Class A common stock of the Issuer. F10 · derivative.exercise_date: RSUs vest in three equal annual installments on February 2, 2025, February 2, 2026 and February 2, 2027. F10 · derivative.expiration_date: RSUs vest in three equal annual installments on February 2, 2025, February 2, 2026 and February 2, 2027. Read SEC document |
| February 02, 2025 Filed Feb 5, 2025 02:42 UTC | Virtu Financial, Inc. VIRT · Entity 3811 | Tax withholdingClass A common stock | 4,722 | Not disclosed | Not disclosed |
DisclosureSEC source: 0001592386-25-000020 · wk-form4_1738723320.xml · nonDerivative · entry 6 Fairclough Brett · CIK 0001788170 · Co-President & Co-COO 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 142,672 F2 · price: Shares of Class A common stock withheld for tax by the Issuer in relation to the settlement of vested RSUs in accordance with the Issuer's Amended and Restated 2015 Management Incentive Plan. Read SEC document |
| February 02, 2025 Filed Feb 5, 2025 02:42 UTC | Virtu Financial, Inc. VIRT · Entity 3811 | Exercise / conversionClass A common stock | 11,193 | Not disclosed | Not disclosed |
DisclosureSEC source: 0001592386-25-000020 · wk-form4_1738723320.xml · nonDerivative · entry 5 Fairclough Brett · CIK 0001788170 · Co-President & Co-COO 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 147,394 Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event. F5 · price: Shares of Class A common stock issued in settlement of vested restricted stock units ("RSUs") granted under the Issuer's Amended and Restated 2015 Management Incentive Plan. Read SEC document |
| January 31, 2025 Filed Feb 5, 2025 02:42 UTC | Virtu Financial, Inc. VIRT · Entity 3811 | GrantRestricted Stock Unit · Derivative | 37,500 | $0.00 | $0.00 |
DisclosureSEC source: 0001592386-25-000020 · wk-form4_1738723320.xml · derivative · entry 8 Fairclough Brett · CIK 0001788170 · Co-President & Co-COO 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 102,384 Underlying: Class A common stock · 37,500 shares Expires not disclosed F7 · derivative.exercise_price: 37,500 RSUs were earned as a result of the Issuer's achievement of associated performance objective for 2024 . The RSUs were granted under the Issuer's Amended and Restated 2015 Management Incentive pursuant to the Amended and Restated Employment Agreement between the Issuer and Mr. Brett Fairclough. F8 · derivative.exercise_date: The RSUs vest January 31, 2026. F8 · derivative.expiration_date: The RSUs vest January 31, 2026. Read SEC document |
| January 31, 2025 Filed Feb 5, 2025 02:42 UTC | Virtu Financial, Inc. VIRT · Entity 3811 | Exercise / conversionRestricted Stock Unit · Derivative | 37,500 | $0.00 | $0.00 |
DisclosureSEC source: 0001592386-25-000020 · wk-form4_1738723320.xml · derivative · entry 7 Fairclough Brett · CIK 0001788170 · Co-President & Co-COO 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 64,884 Underlying: Class A common stock · 37,500 shares Expires not disclosed Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event. F1 · derivative.exercise_price: 37,500 RSUs were earned as a result of the Issuer's achievement of associated performance objective for 2023 and vested and settled in shares of Class A common stock on January 31, 2025. The RSUs were granted under the Issuer's Amended and Restated 2015 Management Incentive pursuant to the Amended and Restated Employment Agreement between the Issuer and Mr. Brett Fairclough. F6 · derivative.exercise_date: The RSUs vested January 31, 2025. F6 · derivative.expiration_date: The RSUs vested January 31, 2025. Read SEC document |
| January 31, 2025 Filed Feb 5, 2025 02:42 UTC | Virtu Financial, Inc. VIRT · Entity 3811 | Tax withholdingClass A common stock | 18,485 | Not disclosed | Not disclosed |
DisclosureSEC source: 0001592386-25-000020 · wk-form4_1738723320.xml · nonDerivative · entry 4 Fairclough Brett · CIK 0001788170 · Co-President & Co-COO 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 136,201 F4 · price: Shares of Class A common stock withheld for tax by the Issuer in accordance with the Issuer's Amended and Restated 2015 Management Incentive Plan Read SEC document |
| January 31, 2025 Filed Feb 5, 2025 02:42 UTC | Virtu Financial, Inc. VIRT · Entity 3811 | GrantClass A common stock | 37,500 | Not disclosed | Not disclosed |
DisclosureSEC source: 0001592386-25-000020 · wk-form4_1738723320.xml · nonDerivative · entry 3 Fairclough Brett · CIK 0001788170 · Co-President & Co-COO 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 154,686 F3 · price: 37,500 shares of Class A common stock were earned as a result of the Issuer's achievement of associated performance objective for 2024. The shares are granted under the Issuer's Amended and Restated 2015 Management Incentive pursuant to the Amended and Restated Employment Agreement between the Issuer and Mr. Brett Fairclough. Read SEC document |
| January 31, 2025 Filed Feb 5, 2025 02:42 UTC | Virtu Financial, Inc. VIRT · Entity 3811 | Tax withholdingClass A common stock | 11,063 | Not disclosed | Not disclosed |
DisclosureSEC source: 0001592386-25-000020 · wk-form4_1738723320.xml · nonDerivative · entry 2 Fairclough Brett · CIK 0001788170 · Co-President & Co-COO 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 117,186 F2 · price: Shares of Class A common stock withheld for tax by the Issuer in relation to the settlement of vested RSUs in accordance with the Issuer's Amended and Restated 2015 Management Incentive Plan. Read SEC document |
| January 31, 2025 Filed Feb 5, 2025 02:42 UTC | Virtu Financial, Inc. VIRT · Entity 3811 | Exercise / conversionClass A common stock | 37,500 | Not disclosed | Not disclosed |
DisclosureSEC source: 0001592386-25-000020 · wk-form4_1738723320.xml · nonDerivative · entry 1 Fairclough Brett · CIK 0001788170 · Co-President & Co-COO 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 128,249 Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event. F1 · price: 37,500 RSUs were earned as a result of the Issuer's achievement of associated performance objective for 2023 and vested and settled in shares of Class A common stock on January 31, 2025. The RSUs were granted under the Issuer's Amended and Restated 2015 Management Incentive pursuant to the Amended and Restated Employment Agreement between the Issuer and Mr. Brett Fairclough. Read SEC document |
| February 03, 2024 Filed Feb 6, 2024 22:54 UTC | Virtu Financial, Inc. VIRT · Entity 3811 | Exercise / conversionRestricted Stock Unit · Derivative | 11,588 | $0.00 | $0.00 |
DisclosureSEC source: 0001592386-24-000018 · wk-form4_1707260081.xml · derivative · entry 9 Fairclough Brett · CIK 0001788170 · Co-President & Co-COO 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 102,384 Underlying: Class A common stock · 11,588 shares Expires not disclosed Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event. F4 · derivative.exercise_price: Each RSU is granted under the Issuer's Amended and Restated 2015 Management Incentive Plan and represents a contingent right to receive one share of Class A common stock of the Issuer. F6 · derivative.exercise_date: The RSUs vested on February 3, 2024. F6 · derivative.expiration_date: The RSUs vested on February 3, 2024. Read SEC document |
| February 03, 2024 Filed Feb 6, 2024 22:54 UTC | Virtu Financial, Inc. VIRT · Entity 3811 | Exercise / conversionRestricted Stock Unit · Derivative | 8,131 | $0.00 | $0.00 |
DisclosureSEC source: 0001592386-24-000018 · wk-form4_1707260081.xml · derivative · entry 8 Fairclough Brett · CIK 0001788170 · Co-President & Co-COO 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 113,972 Underlying: Class A common stock · 8,131 shares Expires not disclosed Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event. F4 · derivative.exercise_price: Each RSU is granted under the Issuer's Amended and Restated 2015 Management Incentive Plan and represents a contingent right to receive one share of Class A common stock of the Issuer. F6 · derivative.exercise_date: The RSUs vested on February 3, 2024. F6 · derivative.expiration_date: The RSUs vested on February 3, 2024. Read SEC document |
| February 03, 2024 Filed Feb 6, 2024 22:54 UTC | Virtu Financial, Inc. VIRT · Entity 3811 | Tax withholdingClass A common stock | 4,560 | Not disclosed | Not disclosed |
DisclosureSEC source: 0001592386-24-000018 · wk-form4_1707260081.xml · nonDerivative · entry 6 Fairclough Brett · CIK 0001788170 · Co-President & Co-COO 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 90,749 F2 · price: Shares of Class A common stock withheld for tax by the Issuer in relation to the settlement of vested RSUs in accordance with the Issuer's Amended and Restated 2015 Management Incentive Plan. Read SEC document |
| February 03, 2024 Filed Feb 6, 2024 22:54 UTC | Virtu Financial, Inc. VIRT · Entity 3811 | Exercise / conversionClass A common stock | 11,588 | Not disclosed | Not disclosed |
DisclosureSEC source: 0001592386-24-000018 · wk-form4_1707260081.xml · nonDerivative · entry 5 Fairclough Brett · CIK 0001788170 · Co-President & Co-COO 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 95,309 Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event. F3 · price: Shares of Class A common stock issued in settlement of vested restricted stock units ("RSUs") granted under the Issuer's Amended and Restated 2015 Management Incentive Plan. Read SEC document |
| February 03, 2024 Filed Feb 6, 2024 22:54 UTC | Virtu Financial, Inc. VIRT · Entity 3811 | Tax withholdingClass A common stock | 3,200 | Not disclosed | Not disclosed |
DisclosureSEC source: 0001592386-24-000018 · wk-form4_1707260081.xml · nonDerivative · entry 4 Fairclough Brett · CIK 0001788170 · Co-President & Co-COO 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 83,721 F2 · price: Shares of Class A common stock withheld for tax by the Issuer in relation to the settlement of vested RSUs in accordance with the Issuer's Amended and Restated 2015 Management Incentive Plan. Read SEC document |
| February 03, 2024 Filed Feb 6, 2024 22:54 UTC | Virtu Financial, Inc. VIRT · Entity 3811 | Exercise / conversionClass A common stock | 8,131 | Not disclosed | Not disclosed |
DisclosureSEC source: 0001592386-24-000018 · wk-form4_1707260081.xml · nonDerivative · entry 3 Fairclough Brett · CIK 0001788170 · Co-President & Co-COO 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 86,921 Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event. F3 · price: Shares of Class A common stock issued in settlement of vested restricted stock units ("RSUs") granted under the Issuer's Amended and Restated 2015 Management Incentive Plan. Read SEC document |
| February 02, 2024 Filed Feb 6, 2024 22:54 UTC | Virtu Financial, Inc. VIRT · Entity 3811 | GrantRestricted Stock Unit · Derivative | 33,578 | $0.00 | $0.00 |
DisclosureSEC source: 0001592386-24-000018 · wk-form4_1707260081.xml · derivative · entry 7 Fairclough Brett · CIK 0001788170 · Co-President & Co-COO 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 122,103 Underlying: Class A common stock · 33,578 shares Expires not disclosed F4 · derivative.exercise_price: Each RSU is granted under the Issuer's Amended and Restated 2015 Management Incentive Plan and represents a contingent right to receive one share of Class A common stock of the Issuer. F5 · derivative.exercise_date: The RSUs vest in equal installments on February 2, 2025, February 2, 2026, and February 2, 2027. F5 · derivative.expiration_date: The RSUs vest in equal installments on February 2, 2025, February 2, 2026, and February 2, 2027. Read SEC document |
| February 02, 2024 Filed Feb 6, 2024 22:54 UTC | Virtu Financial, Inc. VIRT · Entity 3811 | Tax withholdingClass A common stock | 8,809 | Not disclosed | Not disclosed |
DisclosureSEC source: 0001592386-24-000018 · wk-form4_1707260081.xml · nonDerivative · entry 2 Fairclough Brett · CIK 0001788170 · Co-President & Co-COO 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 78,790 F2 · price: Shares of Class A common stock withheld for tax by the Issuer in relation to the settlement of vested RSUs in accordance with the Issuer's Amended and Restated 2015 Management Incentive Plan. Read SEC document |
| February 02, 2024 Filed Feb 6, 2024 22:54 UTC | Virtu Financial, Inc. VIRT · Entity 3811 | GrantClass A common stock | 22,386 | Not disclosed | Not disclosed |
DisclosureSEC source: 0001592386-24-000018 · wk-form4_1707260081.xml · nonDerivative · entry 1 Fairclough Brett · CIK 0001788170 · Co-President & Co-COO 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 87,599 F1 · price: Shares of Class A common stock granted under the Issuer's Amended and Restated 2015 Management Incentive Plan based on the volume weighted average price of the Issuer's Class A common stock on the three trading days preceding the grant date of $16.9755. Read SEC document |
| February 01, 2024 Filed Feb 2, 2024 22:46 UTC | Virtu Financial, Inc. VIRT · Entity 3811 | Exercise / conversionRestricted Stock Unit · Derivative | 8,499 | $0.00 | $0.00 |
DisclosureSEC source: 0001592386-24-000009 · wk-form4_1706913962.xml · derivative · entry 6 Fairclough Brett · CIK 0001788170 · Co-President & Co-COO 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 88,525 Underlying: Class A common stock · 8,499 shares Expires not disclosed Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event. F6 · derivative.exercise_price: Each RSU is granted under the Issuer's Amended and Restated 2015 Management Incentive Plan and represents a contingent right to receive one share of Class A common stock of the Issuer. F7 · derivative.exercise_date: The RSUs vested on February 1, 2024. F7 · derivative.expiration_date: The RSUs vested on February 1, 2024. Read SEC document |
Value uses the disclosed total when available, otherwise shares × reported transaction price. It is not an estimate of exercise cash cost or investment performance.