Every material Form 8-K Virtu Financial filed with the SEC in 2025, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Virtu Financial reported third quarter 2025 results for the period ended September 30, 2025. Net income rose to $149.1 million from $119.0 million a year earlier, and diluted earnings per share rose to $0.86 from $0.64, while total revenues increased 16.7% to $824.8 million.
Total revenues of $824.8 million, up 16.7% from $706.8 million in the prior-year quarter
Diluted EPS of $0.86 versus $0.64; Normalized Adjusted EPS of $1.05 versus $0.82
Quarterly cash dividend of $0.24 per share, payable December 15, 2025 to holders of record as of December 1, 2025
Share buybacks of $20.9 million, or 0.5 million shares, in the quarter
Virtu Financial entered a new employment agreement with CEO Aaron Simons, effective September 30, 2025, that runs through August 1, 2030 and raises his base salary from $600,000 to $1,200,000. The agreement also increases his target bonus to $3,000,000 and provides a $7,500,000 sign-on bonus, with larger severance terms if his employment ends without cause or after a change in control.
Base salary increased from $600,000 to $1,200,000; target bonus raised from $2,000,000 to $3,000,000, with a maximum of 200% of target
Sign-on bonus of $7,500,000, repayable on a pro-rated basis if Simons resigns without good reason within three years
Annual equity grant intended at 150,000 restricted shares or RSUs, tied to percentage of budgeted EBITDA achieved
Initial term ends August 1, 2030; severance is the greater of one times base salary or remaining term salary, and two and a half times salary plus bonus after a change in control
Virtu Financial's subsidiaries entered into Amendment No. 3 to their credit agreement on September 23, 2025, issuing $300 million of incremental senior secured first lien term B-2 loans. The total term B-2 loan balance is now $1,545 million, maturing June 21, 2031, and the proceeds will fund general corporate purposes. The added debt increases the company's borrowings, which shareholders may track against its cash flow and interest costs.
$300 million of incremental term B-2 loans issued at par on September 23, 2025
Total term B-2 loan balance rises to $1,545 million, maturing June 21, 2031
Loans amortize in annual installments of 1.0% of the balance, with contingent payments tied to excess cash flow
Interest is set at either a base rate plus 1.50% or term SOFR plus 2.50%, at the company's election
Virtu Financial said its Board appointed Chief Technology Officer Aaron Simons as Chief Executive Officer and a director, effective August 1, 2025, succeeding Douglas Cifu, who steps down as CEO and Board member and will remain as a consultant through December 31, 2025. The filing discloses severance and consulting payments to Cifu and Simons's employment terms, which bear on the cost and continuity of the leadership change for shareholders.
Aaron Simons, 45, joined Virtu in 2008 and has served as Chief Technology Officer since 2019; his base salary is $600,000 with a target bonus of $2,000,000.
Douglas Cifu's separation includes severance pay through February 28, 2028, 150,000 Shares, and a $5,000,000 consulting payment for services through December 31, 2025.
Simons's employment agreement runs through February 26, 2027, with a severance pay floor of one times base salary or base salary through the end of the term.
Virtu Financial reported second-quarter 2025 results for the quarter ended June 30, 2025, with total revenues of $999.6 million, up 44.2% from $693.0 million a year earlier. Net income rose to $293.0 million from $128.1 million, and basic and diluted EPS was $1.65 versus $0.71, which shows higher earnings for shareholders compared with the prior-year quarter.
Total revenues $999.6 million, up 44.2% from $693.0 million in Q2 2024
Net income $293.0 million versus $128.1 million; basic and diluted EPS $1.65 versus $0.71
Normalized Adjusted EPS $1.53 versus $0.83; Adjusted EBITDA $369.4 million, up 69.8%
Quarterly cash dividend of $0.24 per share declared, payable September 15, 2025 to holders of record as of September 1, 2025
Virtu Financial said on May 29, 2025 that it has notified Nasdaq it will voluntarily withdraw the principal listing of its Class A Common Stock and transfer it to the New York Stock Exchange. The stock will keep the symbol VIRT, so shareholders will not need to take action to keep their shares, though the exchange on which the stock is listed will change.
Nasdaq listing of the Class A Common Stock is expected to cease at the close of trading on June 16, 2025.
NYSE listing is expected to begin at market open on June 17, 2025, and the Common Stock has been approved for listing there.
The stock will continue to trade under the symbol VIRT.
The transfer was authorized by the Board of Directors and is described in Exhibit 99.1, a press release dated May 29, 2025.
Virtu Financial reported first quarter 2025 results for the period ended March 31, 2025, with total revenues of $837.9 million, up 30.3% from $642.8 million a year earlier. Net income was $189.6 million, compared with $111.3 million in the prior-year quarter, and basic and diluted EPS were $1.09 and $1.08, versus $0.59 in the prior year. The company also declared a quarterly cash dividend of $0.24 per share and reported $48.1 million in share buybacks during the quarter.
Total revenues rose 30.3% to $837.9 million; trading income, net, rose 44.6% to $590.0 million.
Net income was $189.6 million, up from $111.3 million; diluted EPS was $1.08, up from $0.59.
Quarterly cash dividend of $0.24 per share is payable June 16, 2025 to holders of record as of May 30, 2025.
Share buybacks totaled $48.1 million, or 1.3 million shares, in the quarter; $373.8 million remained under the program as of April 17, 2025.
Virtu Financial Operating LLC amended the employment agreements of Co-President and Co-Chief Operating Officer Joseph Molluso and Executive Vice President, Markets Stephen Cavoli on February 26, 2025. The amendments extend each executive's initial expiration date to February 28, 2028, with other terms unchanged, which keeps two senior leaders in place for longer.
Amendments signed February 26, 2025 with Joseph Molluso and Stephen Cavoli
Initial expiration date of each employment agreement extended to February 28, 2028
All other terms of the employment agreements remain in full force
Full amendment texts to be filed as exhibits to the next Form 10-Q
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Virtu Financial filing is on SEC EDGAR ↗. 8-K briefs of other companies →