VIRTU FINANCIAL,INC. (NASDAQ:VIRT) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02Departure of Directors of Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On October2, 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 August2020, 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 Exhibit10 to Virtu’s next quarterly report on Form10-Q.