secwatch.observer — SEC 8-K summary
======================================

Issuer:     Virtu Financial, Inc. (VIRT)
CIK:        0001592386
Form:       8-K
Filed at:   2022-05-02T23:59:59+00:00
Accession:  0000950142-22-001532
Event type: leadership
Sentiment:  neutral
Materiality: 0.40
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1592386/000095014222001532/0000950142-22-001532-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1592386/000095014222001532/eh220248559_8k.htm
  HTML page:      https://secwatch.observer/filing/0000950142-22-001532

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer