---
schema_version: "secwatch.filing_event.v1"
accession: "0000950142-22-003289"
form_type: "8-K"
ticker: "VIRT"
cik: "0001592386"
company_name: "Virtu Financial, Inc."
filed_at: "2022-12-02T23:59:59+00:00"
generated_at: "2026-06-21T10:15:25.910651+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Virtu Financial amends exec employment pacts; base $600k, 75,000 RSUs/year tied to EBITDA

## Summary
- Executives Fairclough, Molluso, Cavoli get $600k salary, $2M target/$3M max bonus, 50% quantitative/50% qualitative.
- Annual equity grant of 75,000 RSUs earned based on budgeted EBITDA; 100% earned at ≥65% achievement.
- Severance: without cause/death/disability/good reason: 1× salary or through term, plus benefits and equity acceleration.
- Change-in-control severance: 2.5× salary plus most recent annual bonus, 24-month benefits, full equity acceleration.
- Amendment also aligns Cifu's 2022 performance-based equity award with same EBITDA target.

## SEC filing metadata
- accession: 0000950142-22-003289
- form_type: 8-K
- ticker: VIRT
- cik: 0001592386
- company_name: Virtu Financial, Inc.
- filed_at: 2022-12-02T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 5.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1592386/000095014222003289/0000950142-22-003289-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1592386/000095014222003289/eh220307863_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950142-22-003289
- JSON: https://secwatch.observer/filing/0000950142-22-003289.json
- Plain text: https://secwatch.observer/filing/0000950142-22-003289.txt

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