Rana Yared - Director | Tradeweb Markets (TW) Executive Profile & Compensation

About Rana Yared

Independent director at Tradeweb Markets Inc. (TW) since August 2022; age 41 as of the 2025 annual meeting. She is a General Partner at Balderton Capital (since August 2020), and previously spent 14 years at Goldman Sachs (Principal Strategic Investments and GS Growth). She serves on TW’s Audit and Risk Committee and has been determined independent under Nasdaq and SEC rules. Education: BS (Wharton) and BA (International Relations), University of Pennsylvania; MSc, London School of Economics .

Past Roles

Organization	Role	Tenure	Committees/Impact
TWM LLC (Tradeweb predecessor)	Member, former Board of Managers	2014–2019	Worked with executive team; deep knowledge of business .
Goldman Sachs	Partner, Principal Strategic Investments; later GS Growth	2006–Aug 2020	Financial/investment leadership in fintech; scaling companies .

External Roles

Organization	Role	Current/Past	Notes
Balderton Capital	General Partner	Current (since Aug 2020)	European VC investor; fintech focus .
Wabash College	Board member	Current	Governance role (non-public) .
Ramp Network Inc.	Board member	Current	Private company board .
Coro.net	Board member	Current	Private company board .
TreasurySpring	Board member	Current	Private company board .
Writer	Board member	Current	Private company board .
Penn Fund Board	Board member	Past	Prior nonprofit board service .
NAV; Vestwell; SwapClear	Board member	Past	Prior board roles .
Other public company boards	—	—	None disclosed .

Board Governance

Independence and structure: Board majority independent; Tradeweb is a “controlled company” via LSEG/Refinitiv (∼89.8% combined voting power) but does not rely on controlled-company exemptions; all committees fully independent with independent Chairs .
Leadership: Independent Chair (Jacques Aigrain) and Lead Independent Director (Paula Madoff); independent executive sessions maintained .
Committee assignments (2024 activity): Yared is a member of the Audit and Risk Committee (8 meetings in 2024; committee oversees financial reporting, auditor independence, risk management, and climate-related external reporting). She is not the audit financial expert (that is Steven Berns); all members meet Nasdaq financial sophistication .
Attendance: The company discloses that each incumbent director attended at least 75% of aggregate Board and committee meetings in 2024; all incumbent directors attended the 2024 annual meeting .
Skills: Board skills matrix shows Yared with capital markets/fixed income, financial expertise, electronic trading, global leadership/human capital, corporate governance, and M&A .

Fixed Compensation

Component	2024 Amount/Details	Source
Annual cash retainer	$100,000
Committee member cash (Audit & Risk)	$15,000
Total cash fees received (2024)	$115,000
Annual director RSU grant (grant-date fair value)	$149,922
RSUs granted (count) and vesting	1,323 RSUs; vest 5/10/2025
2025 policy update (for all directors)	Annual equity grant increased from $150,000 to $185,000; chair/committee chair cash retainers adjusted (Audit Chair +$5k; Nominating Chair +$5k; Chair mix rebalanced)

Notes:

2024 Non-Employee Director Compensation Policy provided $100k cash retainer plus $150k in RSUs, with additional fees for committee roles; Yared’s $115k cash aligns with base + Audit membership .

Performance Compensation

Non-employee directors are not granted performance-conditioned equity; awards are time-vesting RSUs (no PSU/PRSU for directors). Hedging, margining, pledging, short-selling, and public options trading in company stock are prohibited for officers and directors .

Performance Metric Applied to Director Pay	Terms	Source
None (Directors)	Director equity is time-based RSUs; no revenue/EBITDA/TSR conditions apply to directors

Other Directorships & Interlocks

Current public company directorships: None .
Compensation committee interlocks: Company discloses none (across the board) .
Potential interlocks with customers/suppliers/competitors: Not disclosed for Yared; related-party section includes extensive LSEG/Refinitiv arrangements but no transactions identified involving Yared .

Expertise & Qualifications

Capital markets/fintech investor and operator experience (Balderton; Goldman Sachs PI/GS Growth) .
Committee-relevant oversight: Audit and Risk Committee member with financial sophistication; committee’s remit includes enterprise risk management and cybersecurity reporting oversight .
Education: BS (Wharton), BA (International Relations) – University of Pennsylvania; MSc – LSE .

Equity Ownership

Metric	Value	Source
Total beneficial ownership (Class A, fully exchanged/converted basis)	1,323 shares (less than 1%)
Vested/unvested breakdown indicator	Includes 1,323 RSUs vested or vesting within 60 days of 3/14/2025 (footnote)
Shares pledged or hedged	None disclosed; hedging/pledging prohibited for directors under securities trading policy
Director stock ownership guideline	5x annual cash retainer for non-employee directors; five years to comply (adopted Dec 2024; compliance by Dec 2029)

Governance Assessment

Positives: Independent director with deep fintech and investing background; sits on Audit and Risk Committee with robust remit; Board maintains independent leadership and does not use controlled-company exemptions; director ownership guidelines in place; hedging/pledging prohibitions; no related-party transactions disclosed involving Yared .
Watch items: Controlled company structure concentrates voting power with LSEG/Refinitiv (~89.8%), though governance practices offset some risks; as a GP at a venture firm investing in fintech, potential for future related-party intersections exists—Audit and Risk Committee (of which she is a member) oversees RPTs per policy; none disclosed currently .
Shareholder sentiment: Say-on-pay support ~98% in 2024; company adopted annual say-on-pay going forward, signaling constructive investor engagement and responsiveness .