INTERACTIVE BROKERS GROUP, INC. (NASDAQ:IBKR) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02.Departure of Directors of Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On November30, 2018, the Board of Directors (the “Board”) of Interactive Brokers Group, Inc. (the “Company”) appointed Mr. John M. Damgard to serve as adirector of the Company, effective December 1, 2018, to fill an upcoming vacancy on the Board created by the resignation of Dr. Kenneth Winston, effective December 31, 2018.
Mr. Damgard was the president of the Futures Industry Association and founder, past president and a member of the Institute for Financial Markets.
Mr. Damgardhas no family relationships with directors or other executive officers of the Company and is not a party to any transactions requiring disclosure under Item 404(a) of Regulation S-K.
Mr. Damgard will receive the same compensation as the Company’s other non-employee directors.The compensation program is described in the Company’s Proxy Statement on Schedule 14A filed with the U.S. Securities and Exchange Commission on March 8, 2018.
The Board has determined that Mr. Damgard is “independent” under the rules of the Investors Exchange LLC and the U.S. Securities and Exchange Commission.
About INTERACTIVE BROKERS GROUP, INC. (NASDAQ:IBKR)
Interactive Brokers Group, Inc. (IBG, Inc.) is a holding company. The Company is an automated global electronic broker and market maker specializing in routing orders, and executing and processing trades in securities, futures, foreign exchange instruments, bonds and mutual funds on over 100 electronic exchanges and trading venues around the world. It operates in two segments: electronic brokerage and market making. Its primary assets are its membership interests of IBG LLC (the Group), the holding company for its businesses. The Company is the sole managing member of IBG LLC. As a direct market access broker, the Company serves the customers of both traditional brokers and prime brokers. It provides its customers with order management, trade execution and portfolio management platform. As a market maker, it provides continuous bid and offer quotations on over one million securities and futures products listed on electronic exchanges around the world.