Interactive Brokers Group Inc. shareholder IBG Holdings LLC adopted a stock trading plan, effective July 28.
Under the plan, IBG Holdings intends to sell 2,301,060 class A Interactive Brokers common shares over time at prevailing market prices. It owns the class A shares for the benefit of certain of its members, including CFO and Director Paul Brody, Vice Chairman Earl Nemser, Executive Vice President Thomas Frank, and certain other employees of the company and its subsidiaries. Thomas Peterffy, Interactive Brokers' chairman and CEO, has voting control of IBG Holdings, but has no economic interest in the shares to be sold under the plan.
Neither the company nor its members will have control over the stock sales under the trading plans.
The transactions will occur until the earlier of the date on which the shares are all sold, the plan is canceled in accordance with its terms and Rule 10b5-1 of the Exchange Act or July 24, 2018.