01—Abstract
Summary
Summary of the 8-K filed March 12, 2024. Cited figures are marked; the original filing is the authoritative source.
Tradeweb Markets Inc. (Nasdaq: TW) filed this Form 8-K on March 12, 2024 to report the appointment of Lisa Opoku as a Class III independent director of its Board, effective March 7, 2024.
Ms. Opoku was designated to the Board by Refinitiv Parent Limited, the company's controlling stockholder, under the director designation right in the Stockholders Agreement dated April 8, 2019. Her term runs until the 2025 annual meeting of stockholders, or until a successor is elected and qualified, or her earlier death, resignation, retirement, disqualification or removal. Ms. Opoku spent 20 years at Goldman Sachs, most recently as Global Head of The Goldman Sachs Partner Family Office from February 2022 to October 2023, after serving as Chief Operating Officer of several divisions.
For her board service she will receive an annual cash retainer of $100,000a and an annual restricted stock unit award valued at $150,000, both prorated for days of service under the company's non-employee director compensation program. The company will also enter into its standard indemnification agreement with her, which was previously filed as Exhibit 10.16 to the company's Form S-1.
The filing also furnishes, under Item 7.01 and not deemed filed for Section 18 purposes, a press release dated March 12, 2024 announcing the appointment. The filing reports no financial results or operating metrics; its investor relevance is limited to board composition and the controlling stockholder's continued board designation rights.
02—Key points
Key Highlights
- Lisa Opoku, age 52, appointed as a Class III independent director effective March 7, 2024
- Ms. Opoku was designated by Refinitiv Parent Limited, the controlling stockholder, under the Stockholders Agreement dated April 8, 2019
- Annual cash retainer of $100,000 and annual RSU award valued at $150,000, prorated for service
- Ms. Opoku spent 20 years at Goldman Sachs, most recently as Global Head of The Goldman Sachs Partner Family Office (February 2022 to October 2023)
- Company will enter into its standard director and officer indemnification agreement with Ms. Opoku (Exhibit 10.1)
- Press release dated March 12, 2024 announcing the appointment furnished as Exhibit 99.1 under Item 7.01
- Filing reports no financial results or operating metrics
03—Questions
Frequently Asked Questions
Who is Lisa Opoku and what is her background?
Ms. Opoku, age 52, spent 20 years at Goldman Sachs. She served as Global Head of The Goldman Sachs Partner Family Office from February 2022 to October 2023, and as Chief Operating Officer of the Engineering Division, the Asia Pacific Securities Division, and the FICC Bank Loan Trading and Syndications Division. She holds a B.A. summa cum laude from the University of Minnesota and a J.D. from Harvard Law School, and serves on the board of The University of Minnesota.
Who nominated Ms. Opoku to the Board?
She was designated by Refinitiv Parent Limited, the company's controlling stockholder, under its director designation right in Section 2.1 of the Stockholders Agreement dated April 8, 2019.
How will Ms. Opoku be compensated?
She will receive an annual cash retainer of $100,000 and an annual restricted stock unit award with a value of $150,000, both prorated to reflect days of service and paid under the company's non-employee director compensation program.
Does Ms. Opoku have any related-party transactions or family relationships with the company's officers or directors?
The filing states she has no family relationships with any director or executive officer and no transactions requiring disclosure under Item 404(a) of Regulation S-K.
How long will Ms. Opoku serve on the Board?
She will hold office until the annual meeting of stockholders to be held in 2025, and until her successor is elected and qualified, or until her earlier death, resignation, retirement, disqualification or removal.
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