Corporate GovernanceJun 9, 2026, 04:12 PM
Virtu Financial Amends CFO Cindy Lee's Employment Agreement
AI Summary
Virtu Financial Operating LLC, a subsidiary of Virtu Financial, Inc., entered into an amended and restated employment agreement with CFO Ms. Cindy Lee on June 8, 2026. The agreement sets her annual base salary at $500,000 and makes her eligible for a discretionary annual bonus. She will also receive a special long-term equity award of 20,000 restricted shares or RSUs, vesting in three equal annual installments. The agreement has an initial term until June 30, 2029, with automatic one-year renewals, and outlines specific severance benefits for various termination scenarios, including those related to a change in control.
Key Highlights
- CFO Cindy Lee's annual base salary set at $500,000.
- Eligible for a discretionary annual bonus.
- Received a special long-term equity award of 20,000 restricted shares or RSUs.
- Special Award vests in three equal annual installments over three years.
- Agreement has an initial term expiring June 30, 2029, with automatic one-year renewals.
- Qualifying termination severance includes greater of 1x base salary or salary through term end.
- Change in control qualifying termination severance is 2.5x (base salary + most recent annual bonus).
- Subject to restrictive covenants for 12 months post-employment.
Price Impact
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