---
schema_version: "secwatch.filing_event.v1"
accession: "0000950142-22-001532"
form_type: "8-K"
ticker: "VIRT"
cik: "0001592386"
company_name: "Virtu Financial, Inc."
filed_at: "2022-05-02T23:59:59+00:00"
generated_at: "2026-06-26T02:05:00.500466+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.4
calibrated_materiality_score: 0.4
confidence: "high"
source: SEC EDGAR
---

# Virtu Financial enters new CEO employment agreement with Douglas Cifu through 2028

## Summary
- Base salary increased $200K to $1.2M; target annual bonus raised to $3M (max 200% of target).
- Initial term ends Feb 28, 2028, with automatic one-year renewals; extended after change-in-control.
- Annual equity grant of 150,000 restricted shares/RSUs tied to EBITDA performance (65% threshold).
- Severance: greater of 1x salary or remainder of term; change-in-control provides 2.5x salary plus bonus.
- Non-compete and non-solicitation continue until third anniversary of departure.

## SEC filing metadata
- accession: 0000950142-22-001532
- form_type: 8-K
- ticker: VIRT
- cik: 0001592386
- company_name: Virtu Financial, Inc.
- filed_at: 2022-05-02T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.4
- calibrated_materiality_score: 0.4
- confidence: high
- sec_items: 5.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1592386/000095014222001532/0000950142-22-001532-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1592386/000095014222001532/eh220248559_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950142-22-001532
- JSON: https://secwatch.observer/filing/0000950142-22-001532.json
- Plain text: https://secwatch.observer/filing/0000950142-22-001532.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.