8-KLeadership Changes

Interactive Brokers Group, Inc. 8-K Report, Executive Changes (Dec 3, 2018)

Filed December 3, 2018For Securities:IBKR

Summary

Interactive Brokers Group, Inc. (IBKR) announced a change in its Board of Directors through an 8-K filing on December 3, 2018. The company appointed Mr. John M. Damgard as a new director, effective December 1, 2018. This appointment is intended to fill a vacancy that will be created by the upcoming resignation of Dr. Kenneth Winston on December 31, 2018. Mr. Damgard brings a background in the futures industry, having served as president of the Futures Industry Association and as founder of the Institute for Financial Markets.

Key Highlights

  • 1Appointment of John M. Damgard as a new director, effective December 1, 2018.
  • 2Mr. Damgard's appointment fills a vacancy created by the resignation of Dr. Kenneth Winston, effective December 31, 2018.
  • 3Mr. Damgard has significant experience in the futures industry, previously serving as president of the Futures Industry Association.
  • 4The Board has determined Mr. Damgard meets the independence requirements under Investors Exchange LLC and SEC rules.
  • 5Mr. Damgard will receive compensation consistent with other non-employee directors.
  • 6No disclosed family relationships or reportable transactions (Item 404(a)) involving Mr. Damgard.

Frequently Asked Questions

John M. Damgard has been appointed as a new director to the Board of Interactive Brokers Group, Inc. He brings extensive experience from the futures industry, having served as president of the Futures Industry Association and as a founder of the Institute for Financial Markets. His appointment is designed to fill a vacancy that will arise from the resignation of Dr. Kenneth Winston.

Yes, the Board of Directors has determined that Mr. Damgard is independent under the rules of the Investors Exchange LLC and the U.S. Securities and Exchange Commission.

Mr. Damgard will receive the same compensation as other non-employee directors of Interactive Brokers Group, Inc. The specifics of this compensation plan are detailed in the company's Proxy Statement filed on March 8, 2018.

Based on the filing, Mr. Damgard has no family relationships with current directors or executive officers, and he is not involved in any transactions that require disclosure under Item 404(a) of Regulation S-K.