Virtu Financial, Inc. filed a Form 8-K on February 28, 2025, announcing amendments to the employment agreements of two executives. Virtu Financial Operating LLC, a subsidiary of the company, extended the employment terms of Joseph Molluso, Co-President and Co-Chief Operating Officer, and Stephen Cavoli, Executive Vice President, Markets. The amendments extend the initial expiration date of their agreements to February 28, 2028, while all other terms remain unchanged.

The full text of the amendments will be filed as exhibits in the company's next quarterly report on Form 10-Q.

Virtu Financial, Inc. announced that on February 19, 2025, its subsidiary, Virtu Financial LLC, along with VFH Parent LLC and certain subsidiaries, entered into Amendment No. 2 to its existing Credit Agreement. This amendment refinances $1.245 billion in senior secured first lien term B-1 loans due 2031 by replacing them with a new tranche of senior secured first lien term B-2 loans of the same amount. The new term loans bear interest at either a prime-based rate plus 1.50% or a SOFR-based rate plus 2.50% and will mature on June 21, 2031. They will also amortize annually at a rate of 1.0% of the original principal amount and may require contingent principal payments based on excess cash flow and other factors. The company expects to file the full amendment text with its upcoming annual report.

Virtu Financial, Inc. (NASDAQ: VIRT), a leading provider of financial services and products that leverages cutting edge technology to deliver innovative, transparent trading solutions to its clients and liquidity to the global markets, today reported results for the fourth quarter ended December 31, 2024.

Fourth Quarter and Full Year Selected Highlights

Fourth Quarter 2024:

•Net income of $176.1 million; Normalized Adjusted Net Income1 of $182.2 million
•Basic and diluted earnings per share of $1.03; Normalized Adjusted EPS1 of $1.14
•Total revenues of $834.3 million; Trading income, net, of $544.0 million; Net income Margin of 21.1%2
◦Adjusted Net Trading Income1 of $457.7 million
•Adjusted EBITDA1 of $283.5 million; Adjusted EBITDA Margin1 of 61.9%
•Share buybacks of $57.1 million, or 1.7 million shares, under the Share Repurchase Program3

Full Year 2024:

•Net income of $534.5 million; Normalized Adjusted Net Income1 of $573.9 million
•Basic and diluted earnings per share of $2.98 and $2.97, respectively; Normalized Adjusted EPS1 of $3.55
•Total revenues of $2,876.9 million; Trading income, net of $1,822.4 million; Net income Margin of 18.6%2
◦Adjusted Net Trading Income1 of $1,597.7 million
•Adjusted EBITDA1 of $918.7 million; Adjusted EBITDA Margin1 of 57.5%
•Share buybacks of $172.2 million, or 6.7 million shares, under the Share Repurchase Program3


The Virtu Financial, Inc. Board of Directors declared a quarterly cash dividend of $0.24 per share. This dividend is payable on March 17, 2025 to shareholders of record as of February 28, 2025.