Cboe Global Markets, Inc. (CBOE)

Quarterly Report Filed: 2026-05-01

Key Insights

The filing contains extensive segment reporting across Cash and Spot Markets, Derivatives Markets, and Data and Access Solutions, indicating CBOE maintains a diversified revenue model across transaction fees, access/capacity fees, and market data fees.
The 10-Q structure shows quarterly comparisons (Q1 2026 vs Q1 2025) with detailed breakdowns by revenue type and market segment, enabling tracking of performance trends across options, equities, futures, and FX products.
The filing includes comprehensive stockholders' equity tracking with multiple components (preferred stock, common stock, treasury stock, retained earnings, accumulated other comprehensive income), suggesting active capital management and potential shareholder return programs.

Current Report Filed: 2026-05-01

Key Insights

Cboe is undertaking a significant strategic realignment with a 20% workforce reduction, combining new restructuring actions with previously announced business disposals, signaling a major organizational transformation aimed at improving operational efficiency.
The company expects to incur $36-46 million in restructuring charges through 2026, with the majority hitting in Q2-Q4 2026, but projects $40-50 million in annualized cost savings ($20-25 million realized in 2026), suggesting the restructuring is designed to be accretive long-term despite near-term charges.
Q1 2026 earnings were reported simultaneously with these restructuring announcements, but the press release details are not provided in this filing, making it difficult to assess overall quarterly operational performance and whether results drove or responded to these strategic actions.

Insider Trading Filed: 2026-02-25

Key Insights

Insider Allen Wilkinson, SVP and Chief Accounting Officer, sold 248 shares of Cboe Global Markets, Inc. (CBOE) at $292.79 per share on February 23, 2026.
This transaction reduces Wilkinson's direct ownership in CBOE to 410 shares, potentially signaling a change in his investment strategy or liquidity needs.
Insider transactions can provide insights into management's views on the company's prospects, so this sale may warrant further investigation by investors.

Insider Trading Filed: 2026-02-23

Key Insights

The reporting person, Jill Griebenow, exercised a total of 4,600 restricted stock units on February 19, 2026, which were converted to Cboe Global Markets, Inc. common stock.
Griebenow sold a portion of the acquired shares, with the total number of shares beneficially owned decreasing from 17,907 to 17,081 after the transactions.
The reported transactions appear to be part of Griebenow's regular equity compensation plan, with the restricted stock units vesting in annual installments.

Insider Trading Filed: 2026-02-23

Key Insights

The reporting person, Christopher A. Isaacson, is the EVP and COO of Cboe Global Markets, Inc. and is engaged in a series of option exercises and stock dispositions on February 19, 2026.
Isaacson exercised 5,961 restricted stock units, representing a significant portion of his equity holdings in the company.
The reporting suggests Isaacson is liquidating a portion of his equity stake, which could signal a change in his long-term ownership or wealth management strategy.

Insider Trading Filed: 2026-02-23

Key Insights

Fredric J. Tomczyk, a director of Cboe Global Markets, Inc., exercised 10,965 restricted stock units and sold 6,427 shares to cover tax withholding obligations.
The exercise and sale occurred on February 19, 2026, as part of a previously announced resignation as CEO, with the number of RSUs reduced to account for the partial vesting period.
Tomczyk's remaining direct ownership is 35,438 shares, indicating he continues to hold a substantial stake in the company following his departure as CEO.

Insider Trading Filed: 2026-02-23

Key Insights

The reporting person, Timothy Lipscomb, exercised a significant number of restricted stock units (RSUs) in Cboe Global Markets, Inc. on February 19, 2026, indicating potential confidence in the company's future performance.
Lipscomb disposed of a portion of the shares acquired through the RSU exercises, suggesting some monetization of the holdings, but a substantial number of shares were retained, implying a continued long-term investment in the company.
The RSU grants and vesting schedules suggest Lipscomb's compensation is tied to the company's long-term performance, aligning his interests with those of shareholders.

Insider Trading Filed: 2026-02-23

Key Insights

Prashant Bhatia, the EVP of Strategy & Corporate Development at Cboe Global Markets, exercised 224 restricted stock units and disposed of 129 shares to cover tax withholding obligations.
Bhatia acquired an additional 2,621 restricted stock units, which will vest in three equal annual installments starting February 2027.
Bhatia's net ownership position increased by 95 shares, indicating continued confidence in the company's long-term prospects.

Insider Trading Filed: 2026-02-23

Key Insights

This Form 4 filing indicates that Robert A. Hocking, an EVP and Global Head of Derivatives at Cboe Global Markets, acquired 355 shares of the company's common stock through the vesting of restricted stock units (RSUs) on February 19, 2026.
Hocking also received an additional 3,495 RSUs on the same date, which will vest in three equal annual installments starting on February 19, 2027.
The insider activity suggests continued optimism and commitment from a key executive at Cboe Global Markets, a leading exchange and financial technology company.

Insider Trading Filed: 2026-02-23

Key Insights

Cboe Global Markets, Inc. CEO Craig S. Donohue exercised 4,683 restricted stock units and sold 2,079 shares, retaining 2,604 shares directly.
Donohue was also awarded an additional 17,560 restricted stock units that vest in three equal annual installments starting February 2027.
The transactions suggest Donohue continues to have confidence in the company and is aligning his interests with shareholders through his equity holdings.

Insider Trading Filed: 2026-02-23

Key Insights

The reporting person, Stephanie Foley, acquired 1,311 restricted stock units (RSUs) which will vest in three annual installments starting February 2027. This indicates potential long-term alignment between Foley and Cboe Global Markets.
Foley also exercised 447, 594, and 611 RSUs that vested on February 19, 2026, 2026, and 2026 respectively, suggesting ongoing equity compensation and retention efforts.
The reporting of these transactions suggests transparency in Cboe's executive compensation practices.

Insider Trading Filed: 2026-02-23

Key Insights

The reporting person, Allen Wilkinson, is a SVP and Chief Accounting Officer of Cboe Global Markets, Inc. and has exercised and disposed of restricted stock units over the past month.
The transactions involved the acquisition of 787 shares of common stock through the vesting of restricted stock units, and the sale of 377 shares to cover tax withholding obligations.
The reporting person now holds 658 shares of common stock and 556 unvested restricted stock units, suggesting an ongoing commitment to the company.

Insider Trading Filed: 2026-02-23

Key Insights

Insider John P. Sexton, EVP, GC and Corporate Secretary of Cboe Global Markets, reported multiple transactions involving the company's common stock and restricted stock units on February 19, 2026.
Sexton acquired 2,842 shares of common stock through the vesting of restricted stock units, and disposed of 1,261 shares to cover tax withholding obligations.
The transactions indicate Sexton's continued stake in the company, with his beneficial ownership increasing to 29,575 shares of common stock following the reported transactions.

Insider Trading Filed: 2026-02-20

Key Insights

The reporting person, Alexander Matturri Jr., sold 1,500 shares of Cboe Global Markets, Inc. (CBOE) at a price of $285.36 per share on February 18, 2026.
The reporting person currently beneficially owns 4,761 shares of the company's common stock directly.
This transaction represents a relatively small portion of the reporting person's overall stake in the company, suggesting a routine portfolio rebalancing rather than a significant shift in their investment strategy.

Insider Trading Filed: 2026-02-20

Key Insights

The reporting person, Edward J. Fitzpatrick, who is a director at Cboe Global Markets, Inc., sold 3,947 shares of the company's common stock on February 18, 2026.
The shares were sold at a weighted average price of $285.87, and Fitzpatrick now beneficially owns 12,921 shares of the company's common stock.
The transaction appears to be a routine sale of shares by an insider, which may not necessarily indicate any significant changes in the company's operations or outlook.

Annual Report Filed: 2026-02-20

Key Insights

Cboe Global Markets, Inc. reported a revenue increase of 5-10% across its cash, derivatives, and data segments in 2025 compared to 2024, indicating strong business performance.
The company's regulatory and royalty fee revenues remained stable, accounting for a consistent proportion of overall revenue over the past three years.
One of Cboe's largest customers accounted for over 20% of total revenue in 2025, which could pose a risk if that customer relationship changes.

Insider Trading Filed: 2026-02-17

Key Insights

The reporting person, Jill Griebenow, is the Executive Vice President and Chief Financial Officer of Cboe Global Markets, Inc., which indicates she holds a key executive position at the company.
Griebenow acquired a total of 4,661 shares of Cboe Global Markets' common stock through the vesting of restricted stock unit awards, which suggests she is being compensated with equity-based awards.
The reporting person also had shares withheld to satisfy the company's tax withholding obligations upon the vesting of the restricted stock units, which is a common practice for executive compensation.

Insider Trading Filed: 2026-02-17

Key Insights

This Form 4 filing shows that Christopher A. Isaacson, Executive Vice President and Chief Operating Officer of Cboe Global Markets, Inc. (CBOE), received and disposed of shares of the company's common stock through vesting of restricted stock units and settlement of dividend equivalent rights.
The filing indicates that Isaacson received a total of 14,918 shares of CBOE common stock through these transactions, while 6,348 shares were withheld to satisfy the company's tax withholding obligations.
The timing and amounts of these transactions suggest routine insider activity related to executive compensation and do not appear to indicate any significant changes in Isaacson's overall beneficial ownership of CBOE shares.

Insider Trading Filed: 2026-02-17

Key Insights

The reporting person, John P. Sexton, is an Executive Vice President, General Counsel, and Corporate Secretary of Cboe Global Markets, Inc. (CBOE).
Sexton has acquired 8,540 shares of CBOE common stock through the vesting of restricted stock unit awards and settlement of dividend equivalent rights, indicating an increase in his beneficial ownership of the company's shares.
The shares acquired by Sexton were partially offset by 3,700 shares withheld to satisfy the company's tax withholding obligations, suggesting Sexton's net beneficial ownership of CBOE shares has increased.

Insider Trading Filed: 2026-02-17

Key Insights

This Form 4 filing indicates that Cboe Global Markets' Executive Vice President and Chief Human Resources Officer, Stephanie Foley, has acquired 128 shares of the company's common stock through the vesting of performance-based restricted stock units (PSUs). This suggests continued confidence in the company's long-term performance from a key executive.
Foley also had 55 shares withheld to cover tax obligations related to the PSU vesting, indicating that she is holding on to the majority of the shares acquired.
The filing also shows that Foley received additional shares through the settlement of dividend equivalent rights associated with the PSUs, further aligning her interests with those of shareholders.

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