Virtu Financial files draft information statement
VIRT•Virtu Financial filed a draft information statement after shareholders authorized its reincorporation from Delaware to Texas on November 4, 2026. The move is expected to eliminate about $250,000 in annual Delaware franchise taxes, and the Texas charter will require shareholders bringing derivative proceedings to collectively own at least 3% of outstanding shares.
1. Reincorporation details
Shareholders authorized Virtu Financial’s conversion from a Delaware corporation to a Texas corporation under a conversion plan on November 4, 2026. Each outstanding common share will convert one-for-one into the corresponding Texas corporation share class, preserving the company’s four-class structure. Operations, management and office locations will remain unchanged.
2. Tax and litigation provisions
The move will eliminate annual Delaware franchise taxes, which totaled approximately $250,000 for the most recent period. Under the Texas charter, shareholders bringing derivative proceedings against directors or officers must collectively own at least 3% of outstanding shares.
