Summary
Interactive Brokers Group, Inc. (IBKR) announced on July 24, 2015, that its subsidiary IBG Holdings LLC ("Holdings") adopted a Rule 10b5-1 trading plan. This plan allows Holdings to sell up to 2,771,778 shares of IBKR Class A common stock over a period of up to one year, ending by July 24, 2016, or when all shares are sold. These shares are held for the benefit of certain members and employees, including key executives like the President, CFO, and Vice Chairman. While Thomas Peterffy, Chairman and CEO, has voting control over Holdings, he has no economic interest in the shares to be sold under this specific plan.
Key Highlights
- 1IBG Holdings LLC, a subsidiary of Interactive Brokers Group, Inc., has adopted a Rule 10b5-1 trading plan.
- 2The plan permits the sale of up to 2,771,778 shares of IBKR Class A common stock.
- 3Sales will occur at prevailing market prices and are intended to comply with SEC Rule 10b5-1.
- 4The trading plan has an effective date of July 24, 2015, and will run for a maximum of one year, concluding by July 24, 2016.
- 5Key company executives and employees, including the President, CFO, and Vice Chairman, are among the beneficiaries of Holdings.
- 6Thomas Peterffy, CEO and Chairman, has voting control but no economic interest in the shares to be sold under this plan.
- 7Sales under the plan will be publicly disclosed through SEC filings.
Frequently Asked Questions
The primary purpose of the trading plan is to allow IBG Holdings LLC to sell shares of IBKR Class A common stock that it received as part of a company transaction, in an orderly manner while complying with SEC regulations designed to prevent insider trading.
IBG Holdings LLC will be selling the shares. The shares are owned by Holdings for the benefit of certain of its members and employees, which include key executives such as the President, CFO, and Vice Chairman, as well as other current and former employees.
While the plan involves shares held by IBG Holdings LLC, which is controlled by the CEO, Thomas Peterffy, he has no economic interest in the shares being sold under this particular plan. The shares are held for the benefit of other members and employees of Holdings. The sales will be disclosed publicly.
A maximum of 2,771,778 shares of IBKR Class A common stock can be sold under this plan. The sales will take place over time at market prices, and the plan will terminate on the earlier of when all shares are sold, the plan is terminated according to its terms, or July 24, 2016.