8-KLeadership ChangesOther EventsExhibits & Filings

Cboe Global Markets, Inc. 8-K Report, Executive Changes (Jan 26, 2026)

Filed January 26, 2026For Securities:CBOE

Summary

Cboe Global Markets, Inc. (CBOE) has announced the retirement of its Chief Operating Officer, Christopher Isaacson, effective March 6, 2026. Mr. Isaacson will transition to a consulting role until the end of 2026, receiving a consulting fee of $541,666. He will also retain a pro-rata portion of certain outstanding equity awards, subject to performance and service through the consulting period. This orderly transition ensures continuity in operations. In parallel, Cboe has appointed Scott Johnston as the incoming Executive Vice President and Chief Operating Officer, effective March 7, 2026. Mr. Johnston brings extensive experience from various trading and financial firms, most recently as COO of Akuna Capital. His compensation package includes a base salary of $550,000, incentive bonus potential, long-term equity awards totaling $2,735,000 (annual LTI) and a $1,000,000 sign-on grant, alongside a $627,200 cash sign-on bonus. This leadership change signals a strategic move to leverage new expertise within the company.

Key Highlights

  • 1COO Christopher Isaacson to retire on March 6, 2026, after a distinguished tenure.
  • 2Mr. Isaacson to provide consulting services through December 31, 2026, with a $541,666 fee.
  • 3Equity awards for Mr. Isaacson will be prorated based on service period.
  • 4Scott Johnston appointed as the new COO, effective March 7, 2026.
  • 5Mr. Johnston has a strong background in operations within the trading and options market-making industry.
  • 6Mr. Johnston's compensation package includes significant base salary, bonus potential, and substantial long-term equity awards ($2.735M LTI target and $1M sign-on grant).
  • 7A cash sign-on bonus of $627,200 is part of Mr. Johnston's compensation.

Frequently Asked Questions

The financial impact involves a consulting fee of $541,666 to Mr. Isaacson for services rendered until the end of 2026. Additionally, Cboe will incur costs related to prorating Mr. Isaacson's equity awards. The company will also bear the compensation costs for the new COO, Scott Johnston.

Scott Johnston has a deep operational background, having served as COO at Akuna Capital, and held senior operational roles at Hudson River Trading, Citadel Investment Group, and Tower Research Capital. His extensive experience in options market making and trading technology is expected to be highly beneficial for Cboe's strategic operations and growth.

The filing states that Mr. Johnston's compensation package, including his base salary, incentive programs, and long-term incentive plan awards, is consistent with similarly situated executives at Cboe. The significant equity awards ($2.735M target LTI and $1M sign-on grant) reflect the competitive market for executive talent in the financial industry.

The filing explicitly states that Mr. Isaacson's retirement was not due to any disagreement with the Company concerning its operations, policies, or practices. This indicates an amicable and planned transition.