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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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).
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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 June 24, 2020, the Board of Directors (the “Board”) of Interactive Brokers Group, Inc. (the “Company”) appointed Ms. Nicole Yuen to serve as a director of the Company, effective July 1, 2020.
Ms. Yuen is a seasoned investment banker with more than 20 years’ experience. Ms. Yuen most recently served as Managing Director, Head of Equities – North Asia and Vice Chairman – Greater China for Credit Suisse. During her 6-year tenure, she led the build-out of Credit Suisse’s brokerage business in mainland China and oversaw the bank’s equities business in North Asia.
Ms. Yuen 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 11, 2020.
The Board has determined that Ms. Yuen is “independent” under the rules of the Nasdaq Stock Market LLC and the SEC. Ms. Yuen 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 Ms. Yuen and any other persons pursuant to which Ms. Yuen 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: June 29, 2020
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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 |