Summary
Interactive Brokers Group, Inc. (IBKR) announced through its subsidiary IBG Holdings LLC that it has adopted a Rule 10b5-1 trading plan, effective October 29, 2014. This plan will facilitate the sale of up to 1,358,478 shares of IBKR's Class A common stock over a period of up to one year, with sales occurring at prevailing market prices. The shares are being sold by IBG Holdings LLC for the benefit of certain of its members, including executives and employees, who received these shares as part of a prior company share purchase transaction. This plan allows for the orderly disposition of a significant block of shares while adhering to regulatory guidelines. Notably, Thomas Peterffy, the Company's Chairman and CEO, has voting control over Holdings but no economic interest in the shares being sold under this plan. Investors should note that sales will be publicly disclosed as required by securities laws, providing transparency into the ongoing share disposition. The plan is designed to prevent insider trading concerns by establishing a pre-determined selling schedule.
Key Highlights
- 1IBG Holdings LLC, a subsidiary of Interactive Brokers Group, Inc. (IBKR), has adopted a Rule 10b5-1 trading plan.
- 2The plan enables the sale of up to 1,358,478 shares of IBKR Class A common stock.
- 3Sales will occur over time at prevailing market prices and are scheduled to conclude by October 27, 2015, or sooner if all shares are sold or the plan is terminated.
- 4The shares are being sold for the benefit of members of IBG Holdings LLC, including certain executives and employees.
- 5Thomas Peterffy, IBKR's Chairman and CEO, has voting control over Holdings but no economic interest in the shares sold under this plan.
- 6The trading plan is designed to comply with SEC Rule 10b5-1, which provides an affirmative defense against insider trading allegations.
- 7All transactions under the plan will be publicly disclosed through SEC filings.