Tradeweb (TW) CTO Justin Peterson sells 21,221 shares in pre-set 10b5-1 trade

Rhea-AI Filing Summary

Tradeweb Markets Inc. Chief Technology Officer Justin Peterson reported an open-market sale of 21,221 shares of Class A common stock. The shares were sold on April 15, 2026 at a weighted average price of $120.6586 per share, across multiple trades between $119.57 and $122.42.

After this transaction, Peterson directly holds 36,291 shares of Class A common stock, which includes several tranches of unvested restricted stock units scheduled to vest between March 2027 and March 2029. The sale was executed under a pre-arranged Rule 10b5-1 trading plan adopted on November 3, 2025.

Insights

Equity compensation & insider-trading analyst

CTO’s Rule 10b5-1 sale is sizable but appears as a planned, routine liquidity event.

Chief Technology Officer Justin Peterson executed an open-market sale of 21,221 shares of Tradeweb Markets Inc. Class A common stock at a weighted average of $120.6586 per share on April 15, 2026. This is a discretionary sale type, but it was conducted under a pre-established framework.

The filing notes the sale was made pursuant to a Rule 10b5-1 trading plan adopted on November 3, 2025, indicating it was pre-planned rather than timed opportunistically. After the sale, Peterson holds 36,291 shares, including multiple tranches of unvested RSUs that vest between March 2027 and March 2029, so he retains meaningful equity exposure.

This pattern is consistent with routine executive diversification and tax/wealth planning. The absence of derivative exercises and the presence of ongoing RSU vesting suggest continued alignment with the company’s long-term performance rather than a full exit from equity exposure.

Insider Trade Summary 10b5-1

Net Seller: 21,221 shares ($2,560,496)

Net Sell 1 txn

Insider Peterson Justin

Role Chief Technology Officer

Sold 21,221 shs ($2.56M)

Type	Security	Shares	Price	Value
Sale	Class A common stock	21,221	$120.6586	$2.56M

Holdings After Transaction: Class A common stock — 36,291 shares (Direct)

Footnotes (1)

1. This transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on November 3, 2025. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $119.57 to $122.42, inclusive. The reporting person undertakes to provide the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote. This amount includes (i) 2,548 unvested restricted stock units ("RSUs") in respect of the issuer's Class A common stock ("Class A Common Stock") that are scheduled to vest on March 15, 2027, (ii) 4,485 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) 8,037 unvested RSUs in respect of Class A Common Stock that are scheduled to vest in equal installments 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.

Key Figures

Shares sold: 21,221 shares Weighted average sale price: $120.6586 per share Shares held after transaction: 36,291 shares +3 more

6 metrics

Shares sold 21,221 shares Open-market sale of Class A common stock on April 15, 2026

Weighted average sale price $120.6586 per share Average price across multiple trades between $119.57 and $122.42

Shares held after transaction 36,291 shares Direct holdings of Class A common stock following the sale

Unvested RSUs tranche 1 2,548 RSUs Scheduled to vest on March 15, 2027, subject to continued employment

Unvested RSUs tranche 2 4,485 RSUs Scheduled to vest in equal installments on March 17, 2027 and March 17, 2028

Unvested RSUs tranche 3 8,037 RSUs Scheduled to vest in equal installments on March 15, 2027, 2028 and 2029

Key Terms

Rule 10b5-1 trading plan, weighted average price, restricted stock units ("RSUs"), Class A common stock

4 terms

Rule 10b5-1 trading plan regulatory

"This transaction was effected pursuant to a Rule 10b5-1 trading plan adopted"

A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.

weighted average price financial

"The price reported in Column 4 is a weighted average price."

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

restricted stock units ("RSUs") financial

"This amount includes (i) 2,548 unvested restricted stock units ("RSUs")"

Restricted stock units (RSUs) are a company promise to give an employee shares of stock (or cash equivalent) in the future, but only after certain conditions—usually staying with the company for a set time or hitting performance goals—are met. Investors watch RSUs because when they vest they increase the number of shares outstanding and can lead insiders to sell shares, affecting share price, company dilution and the true cost of employee pay.

Class A common stock financial

"in respect of the issuer's Class A common stock ("Class A Common Stock")"

Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Peterson Justin

(Last) (First) (Middle)

TRADEWEB MARKETS INC.

245 PARK AVENUE

(Street)

NEW YORK NEW YORK 10167

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Tradeweb Markets Inc. [ TW ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Technology Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/15/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A common stock	04/15/2026		S(1)		21,221	D	$120.6586(2)	36,291(3)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. This transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on November 3, 2025.

2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $119.57 to $122.42, inclusive. The reporting person undertakes to provide the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.

3. This amount includes (i) 2,548 unvested restricted stock units ("RSUs") in respect of the issuer's Class A common stock ("Class A Common Stock") that are scheduled to vest on March 15, 2027, (ii) 4,485 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) 8,037 unvested RSUs in respect of Class A Common Stock that are scheduled to vest in equal installments 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.

Remarks:

	/s/ Douglas Friedman, Attorney-in-Fact for Justin Peterson	04/17/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What did Tradeweb (TW) CTO Justin Peterson report in this Form 4 filing?

Justin Peterson reported an open-market sale of 21,221 shares of Tradeweb Class A common stock. The shares were sold at a weighted average price of $120.6586 per share, as part of a pre-arranged Rule 10b5-1 trading plan adopted on November 3, 2025.

At what price did the Tradeweb (TW) CTO sell his shares?

The CTO sold 21,221 shares at a weighted average price of $120.6586 per share. Individual trades occurred between $119.57 and $122.42, and the insider has committed to provide full price-by-trade details to interested parties upon request.

How many Tradeweb (TW) shares does the CTO hold after the reported sale?

After the transaction, the CTO directly holds 36,291 shares of Tradeweb Class A common stock. This figure includes several tranches of unvested restricted stock units scheduled to vest between March 2027 and March 2029, contingent on continued employment.

Was the Tradeweb (TW) CTO’s share sale under a Rule 10b5-1 plan?

Yes. The filing states the transaction was effected under a Rule 10b5-1 trading plan adopted on November 3, 2025. Such plans pre-schedule trades, reducing the significance of short-term timing decisions for interpreting insider sentiment.

What unvested RSUs does the Tradeweb (TW) CTO still have outstanding?

The CTO’s holdings include 2,548 unvested RSUs vesting March 15, 2027, 4,485 unvested RSUs vesting in equal installments on March 17, 2027 and 2028, and 8,037 unvested RSUs vesting in equal installments on March 15, 2027, 2028 and 2029.