Friedman Douglas 4
4 · Tradeweb Markets Inc. · Filed Mar 19, 2026
Research Summary
AI-generated summary of this filing
Tradeweb (TW) Chief Legal Officer Douglas Friedman Sells 619 Shares
What Happened Douglas Friedman, Tradeweb Markets' Chief Legal Officer, had 619 shares of Tradeweb Class A common stock withheld on March 17, 2026 to satisfy tax withholding obligations related to RSU settlement, a disposition valued at approximately $78,099 (619 @ $126.17). The same day he was credited 1 share in connection with the settlement of dividend equivalent rights (DERs) tied to previously awarded RSUs.
Key Details
- Transaction date (period of report): March 17, 2026; Form 4 filed March 19, 2026.
- Disposition (tax withholding): 619 shares @ $126.17 = $78,099 (code F — shares withheld to satisfy tax).
- Acquisition: 1 share @ $0.00 (DER settlement; code A) — nominal reported value.
- Unvested RSUs disclosed: 1,990 RSUs vesting Mar 15, 2027; 2,421 RSUs vesting in equal installments Mar 17, 2027 & Mar 17, 2028; and 6,510 RSUs vesting Mar 15 of 2027/2028/2029 (total 10,921 unvested RSUs), subject to continued employment.
- Footnotes: F1 confirms withholding to cover taxes; F3 explains the 1 share came from settled DERs. No 10b5-1 plan or signs of a market-sale transaction were indicated.
Context This was a routine tax-withholding disposition tied to RSU settlement (a cashless mechanism), not an open-market sale that typically signals a deliberate exit. Such withholdings are common when restricted shares vest and do not, by themselves, imply a change in insider sentiment.
Insider Transaction Report
- Tax Payment
Class A common stock
[F1][F2]2026-03-17$126.17/sh−619$78,099→ 16,731 total - Award
Class A common stock
[F3][F2]2026-03-17+1→ 16,732 total
Footnotes (3)
- [F1]Represents shares withheld by the issuer to satisfy the tax withholding obligation associated with the settlement of restricted stock units ("RSUs") in respect of the issuer's Class A common stock ("Class A Common Stock") held by the reporting person.
- [F2]This amount includes (i) 1,990 unvested RSUs in respect of Class A Common Stock that are scheduled to vest on March 15, 2027, (ii) 2,421 unvested RSUs in respect of Class A Common Stock that are scheduled to vest in equal installments on March 17, 2027 and March 17, 2028 and (iii) 6,510 unvested RSUs in respect of Class A Common Stock that are scheduled to vest on March 15, 2027, March 15, 2028 and March 15, 2029, in each case, subject to the reporting person's continued employment through the applicable vesting date.
- [F3]Represents shares of Class A Common Stock acquired in connection with the settlement of certain dividend equivalent rights (the "DERs"). The DERs were granted in connection with previously awarded RSUs, and settled in shares of Class A Common Stock in connection with the settlement of the RSUs to which they relate.