Stephen Cavoli, who serves as Executive Vice President at Virtu Financial, Inc. (NASDAQ: VIRT), completed a series of reported equity transactions tied to the company’s Class A common stock on January 31 and February 2, 2026, according to regulatory filings.
The filings state that Cavoli sold a combined total of 38,285 shares across two transactions. The public disclosures specify that on January 31 he sold 19,144 shares, and on February 2 he sold an additional 5,263 shares. The price paid per share for these sale transactions was not disclosed in the filings.
In the same pair of filing dates, Cavoli also recorded acquisitions tied to the conversion of Restricted Stock Units. The documents show that a total of 47,809 shares of Class A common stock were received upon conversion of RSUs on January 31 and February 2.
Earnings context
Separately, Virtu Financial reported fourth-quarter 2025 financial results that exceeded analysts’ forecasts. The company posted adjusted earnings per share of $1.85, versus an anticipated $1.19, representing a 55.46% surprise to expectations. Revenue for the quarter came in at $613.45 million, beating forecasts by 21.56%.
These quarterly results and the insider transactions were disclosed in overlapping timeframes. The filings provide numbers on units sold and units converted but do not attach per-share pricing for the sales. Company earnings and revenue figures are among the primary metrics stakeholders typically use to evaluate a firm’s near-term financial performance and operational trends.
Analysts and investors have noted the stronger-than-expected results, which the filings highlight as part of the broader picture market participants will monitor as Virtu Financial’s performance unfolds. The filings themselves, however, limit details about transaction pricing and offer no commentary on Cavoli’s personal rationale for the trades and conversions.
Where filings leave gaps on valuation details, the combination of equity sales and RSU conversions may nevertheless be observed alongside the firm’s reported quarterly strength, but the documents do not draw a direct link between the corporate results and the insider’s actions.