UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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Securities Exchange Act of 1934
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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. □
Item 5.02. Departure of Directors of Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On October 17, 2023, the Board of Directors (the “Board”) of Interactive Brokers Group, Inc. (the “Company”) appointed Mr. Richard Repetto to serve as an independent director of the Company, effective January 1, 2024.
Mr. Repetto is a renowned research analyst with over 25 years of experience covering electronic trading and financial technology companies. Mr. Repetto retired in June 2023 as Managing Director and Senior Research Analyst at Piper Sandler. Throughout his successful career, Mr. Repetto received many accolades, including the Financial Times/StarMine “Analyst of the Year” Award in 2010 and “Global Analyst of the Year” from the Financial Times in 2012.
Mr. Repetto 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 (“SEC”) on March 8, 2023.
The Board has determined that Mr. Repetto is “independent” under the rules of the Nasdaq Stock Market LLC and the SEC. Mr. Repetto 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. There is no arrangement or understanding between Mr. Repetto and any other persons pursuant to which Mr. Repetto was selected as a director.
A copy of the Registrant’s press release relating to this director appointment is being furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Item. 9.01 Financial Statements and Exhibits.
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Exhibit No. |
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99.1 |
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104 |
| Cover Page Interactive Data File (the cover page XBRL tags are embedded within the Inline XBRL Document). |
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: January 2, 2024
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| INTERACTIVE BROKERS GROUP, INC. | |
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| By: | /s/ Paul J. Brody |
| Name: | Paul J. Brody |
| Title: | Chief Financial Officer, Treasurer |