IBKR Files 8-K on Officer/Director Changes, Compensation

TL;DR

**IBKR filed an 8-K on Jan 2, 2024, indicating executive/director changes and compensation arrangements, effective Jan 1, 2024.**

AI Summary

Interactive Brokers Group, Inc. (IBKR) filed an 8-K on January 2, 2024, reporting an event that occurred on January 1, 2024. This filing indicates changes related to the 'Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers' and 'Financial Statements and Exhibits'. While specific names or dollar amounts are not detailed in this summary filing, it signals potential shifts in leadership or executive compensation structures. For investors, this matters because changes in executive leadership or compensation can impact company strategy, performance, and ultimately, stock value.

Why It Matters

This filing signals potential shifts in Interactive Brokers' leadership or executive compensation, which could influence future strategic direction and financial performance. Investors should monitor subsequent disclosures for details on these changes.

Risk Assessment

Risk Level: medium — The filing indicates changes in leadership or compensation, which can introduce uncertainty regarding future company direction and stability, warranting a medium risk assessment.

Analyst Insight

A smart investor would monitor Interactive Brokers Group, Inc.'s subsequent filings and news releases for specific details regarding the executive and compensation changes, as these could influence long-term strategic direction and financial outlook.

Key Numbers

• January 1, 2024 — Earliest Event Reported Date (The effective date of the changes related to officers/directors and compensation.)
• January 2, 2024 — Filing Date (The date Interactive Brokers Group, Inc. filed this 8-K with the SEC.)
• 001-33440 — Commission File Number (The SEC's identification number for Interactive Brokers Group, Inc.'s filings.)
• $0.01 — Common Stock Par Value (The stated par value per share of Interactive Brokers Group, Inc.'s Common Stock.)

Key Players & Entities

• Interactive Brokers Group, Inc. (company) — the registrant filing the 8-K
• Nasdaq Global Select Market (company) — the exchange where IBKR Common Stock is registered
• Delaware (company) — state of incorporation for Interactive Brokers Group, Inc.
• January 1, 2024 (date) — date of the earliest event reported in the 8-K
• January 2, 2024 (date) — date the 8-K was filed
• 001-33440 (dollar_amount) — Commission File Number for Interactive Brokers Group, Inc.
• 30-0390693 (dollar_amount) — I.R.S. Employer Identification Number for Interactive Brokers Group, Inc.
• $0.01 (dollar_amount) — par value per share of Common Stock

Forward-Looking Statements

• Interactive Brokers Group, Inc. will provide more detailed information regarding the specific officer/director changes and compensation arrangements in a subsequent filing or press release. (Interactive Brokers Group, Inc.) — high confidence, target: Q1 2024
• The changes in compensatory arrangements could lead to a slight adjustment in the company's overall operating expenses. (Interactive Brokers Group, Inc.) — medium confidence, target: FY 2024

FAQ

Filing Documents

• ibkr-20240101x8k.htm (8-K) — 63KB
• ibkr-20240101xex99_1.htm (EX-99.1) — 7KB
• 0001381197-24-000003.txt ( ) — 192KB
• ibkr-20240101.xsd (EX-101.SCH) — 2KB
• ibkr-20240101_lab.xml (EX-101.LAB) — 19KB
• ibkr-20240101_pre.xml (EX-101.PRE) — 10KB
• ibkr-20240101x8k_htm.xml (XML) — 4KB

From the Filing

ibkr-20240101x8k UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of Earliest Event Reported): January 1, 2024 INTERACTIVE BROKERS GROUP, INC. (Exact Name of Registrant as Specified in its Charter) Delaware 001-33440 30-0390693 (State or Other Jurisdiction of Incorporation) (Commission File Number) (I.R.S. Employer Identification Number) One Pickwick Plaza , Greenwich , CT 06830 (Address of Principal Executive Offices) (Zip Code) ( 203 ) 618-5800 (Registrant's Telephone Number, Including Area Code) Not Applicable (Former Name or Former Address, if Changed Since Last Report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Title of each class Trading Symbol Name of the exchange on which registered Common Stock, par value $.01 per share IBKR The Nasdaq Global Select Market Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). Emerging growth company 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. Exhibit No. Description 99.1 Press Release dated January 2, 2023. 104 Cover Page Interactive Data File (the cover page XBRL tags are embedded within the Inline XBRL Document). *** 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 INTERACTIVE BROKERS GROUP, INC. By: /s/ Paul J. Brody Name: Paul J. Brody Title: Chief Financial Officer, Treasurer and Secretary

View Full Filing

View this 8-K filing on SEC EDGAR