UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(D) OF THE

SECURITIES EXCHANGE ACT OF 1934

 

Date of Report (date of earliest event reported): October 2, 2017

 

VIRTU FINANCIAL, INC.

(Exact name of registrant as specified in its charter)

 

Delaware
(State or other jurisdiction of
incorporation)

 

001-37352
(Commission File No.)

 

32-0420206
(IRS Employer
Identification No.)

 

300 Vesey Street

New York, NY 10282

(Address of principal executive offices)

 

(212) 418-0100

(Registrant’s telephone number, including area code)

 

NOT APPLICABLE

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company x

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act x

 

 

 


 

Item 5.02                                           Departure of Directors of Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

 

On October 2, 2017, Virtu Financial, Inc. (“Virtu”) entered into a Confidential Separation Agreement, Interest Repurchase and General Release of Claims (the “Agreement”) with Venu Palaparthi, Virtu’s former Senior Vice President, Compliance, Regulatory and Government Affairs.  The Agreement provides among other items, for the repurchase of indirect equity interests in the Company previously held by Mr. Palaparthi for total consideration of $785,252, and certain separation payments totaling $775,631 in the aggregate, in each case payable over the period ending August 2020, and the affirmation of certain restrictive covenants previously agreed.  The foregoing summary is qualified in its entirety by the Agreement, a copy of which will be attached as Exhibit 10 to Virtu’s next quarterly report on Form 10-Q.

 

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SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

 

 

 

Virtu Financial, Inc.

 

 

 

 

 

By:

/s/ Justin Waldie

 

Name:

Justin Waldie

 

Title:

Senior Vice President, Secretary and General Counsel

 

 

 

Dated: October 4, 2017

 

 

 

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