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 December 14, 2016, the Board of Directors (the “Board”) of Interactive Brokers Group, Inc. (the “Company”) appointed Mr. Gary Katz to serve as a director of the Company, effective January 4, 2017, to fill an upcoming vacancy on the Board created by the resignation of Dr. Hans Stoll, who will be retiring at the end of this year. The Board also elected Mr. Katz to serve as a member of the Audit Committee, effective January 4, 2017.
Mr. Katz is a co-founder and the former President and Chief Executive Officer of the International Securities Exchange.
Mr. Katz has 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. Katz 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 10, 2016.
The Board has determined that Mr. Katz is “independent” under the rules of NASDAQ 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. INTERACTIVE BROKERS GROUP, INC. (NASDAQ:IBKR) Recent Trading Information
INTERACTIVE BROKERS GROUP, INC. (NASDAQ:IBKR) closed its last trading session up +0.08 at 38.17 with 445,956 shares trading hands.