01—Abstract
Summary
Summary of the 8-K filed September 19, 2024. Cited figures are marked; the original filing is the authoritative source.
Tradeweb Markets Inc. (Nasdaq: TW) filed this Current Report on Form 8-K to disclose that its Board of Directors appointed Daniel Maguire as a Class I director, effective September 18, 2024.
Mr. Maguire will serve until the annual meeting of stockholders to be held in 2026, or until his successor is elected and qualified, or his earlier death, resignation, retirement, disqualification or removal. He was designated by Refinitiv Parent Limited, the Company's controlling stockholder, under a director designation right in the Stockholders Agreement dated April 8, 2019. Mr. Maguire is Group Head of LSEG Markets and CEO of LCH Group, and has been a member of the London Stock Exchange Group Executive Committee since October 2017.
The filing states that he will not receive any compensation for his board service. The Company will enter into its standard form of indemnification agreement with him, which was previously filed as Exhibit 10.16 to the Company's Form S-1 registration statement. The Company also furnished a press release dated September 19, 2024, announcing the appointment under Item 7.01 (Regulation FD Disclosure).
That information is furnished rather than filed for purposes of Section 18 of the Exchange Act. The press release describes Tradeweb as a global operator of electronic marketplaces for rates, credit, equities and money markets, serving more than 2,800 clients in more than 70 countries, and facilitating more than $1.7 trilliona in notional value traded per day over the past four fiscal quarters.
02—Key points
Key Highlights
- Daniel Maguire appointed as a Class I director effective September 18, 2024, with term running to the 2026 annual meeting
- Appointment designated by Refinitiv Parent Limited, the Company's controlling stockholder, under the 2019 Stockholders Agreement
- Mr. Maguire is Group Head of LSEG Markets and CEO of LCH Group, and has served on the LSEG Executive Committee since October 2017
- Mr. Maguire will receive no compensation for his service as a director
- Company will enter into its standard indemnification agreement with Mr. Maguire
- Press release dated September 19, 2024 announced the appointment and is furnished under Item 7.01 (Regulation FD)
- Tradeweb reports serving more than 2,800 clients in more than 70 countries and facilitating more than $1.7 trillion in notional value traded per day over the past four fiscal quarters
03—Questions
Frequently Asked Questions
Who was appointed to the Tradeweb board and when did it take effect?
Daniel Maguire was appointed as a Class I director by the Board of Directors on September 18, 2024, effective as of that date.
Who nominated Mr. Maguire to the board?
He was designated by Refinitiv Parent Limited, the Company's controlling stockholder, under Refinitiv's director designation right in Section 2.1 of the Stockholders Agreement dated April 8, 2019.
How long will Mr. Maguire serve and will he be paid?
He will hold office until the annual meeting of stockholders to be held in 2026 or until his successor is elected and qualified, or his earlier death, resignation, retirement, disqualification or removal. The filing states he will not receive any compensation for his board service.
What is Mr. Maguire's professional background?
He is Group Head of LSEG Markets and CEO of LCH Group, has been on the LSEG Executive Committee since October 2017, and has held positions at LSEG and LCH since 1999. The filing says he is qualified to serve due to his deep knowledge of the financial services industry.
Are there any related-party transactions or family relationships involving Mr. Maguire?
The filing states that Mr. Maguire has no family relationships with any Tradeweb director or executive officer, and there are no transactions in which he has an interest requiring disclosure under Item 404(a) of Regulation S-K.
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