secwatch.observer — SEC 8-K summary
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Issuer:     Virtu Financial, Inc. (VIRT)
CIK:        0001592386
Form:       8-K
Filed at:   2025-07-31T23:59:59+00:00
Accession:  0000950142-25-002061
Event type: leadership
Sentiment:  neutral
Materiality: 0.75
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Virtu Financial CEO Doug Cifu retires, CTO Aaron Simons appointed CEO effective Aug 1, 2025
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- Doug Cifu will retire as CEO and Board member on Aug 1, 2025, and serve as consultant through Dec 31, 2025.
- Aaron Simons, CTO since 2019, appointed CEO and elected to the Board, effective Aug 1, 2025.
- Simons joined Virtu in 2008, has 16+ years in technology and trading; PhD in Physics from Harvard.
- Cifu receives severance including base salary through Feb 2028, 150,000 shares, and $5M consulting fee.
- Simons' compensation: $600K base salary, target bonus $2M, annual equity grant of 75,000 RSUs with performance vesting.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1592386/000095014225002061/0000950142-25-002061-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1592386/000095014225002061/eh250662475_8k.htm
  HTML page:      https://secwatch.observer/filing/0000950142-25-002061

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