Form 4: IBKR CFO Sells Shares Under 10b5-1 Plan

Interactive Brokers Group CFO Paul J. Brody sold Class A common stock totaling 33,416 shares over two days in September 2025, pursuant to a pre-arranged Rule 10b5-1 trading plan.

Summary

• Paul J. Brody, Chief Financial Officer and Director of Interactive Brokers Group, Inc. (IBKR), sold a total of 33,416 shares of Class A common stock.
• The sales occurred on September 23 and September 24, 2025.
• These transactions were executed under a Rule 10b5-1(c) pre-arranged trading plan, indicating a structured and not reactive sale.
• The shares were sold indirectly through PJB Holdings LLC, which acquired them via a partial redemption of its interest in IBG Holdings LLC.
• The sales were conducted at weighted average prices ranging from $64.76 to $65.49 per share.
• Following these transactions, Mr. Brody's indirect beneficial ownership through PJB Holdings LLC is 59,643 shares, and his direct beneficial ownership is 2,885,496 shares, which includes vested and unvested restricted stock units.

Sentiment

Score: 5

Explanation: The sentiment is neutral as this is a routine disclosure of insider stock sales executed under a pre-arranged 10b5-1 trading plan, which typically indicates planned liquidity events rather than a change in outlook.

Positives

• Transactions were made pursuant to a Rule 10b5-1(c) contract, instruction, or written plan, indicating pre-scheduled and not reactive sales, which can mitigate negative market perception of insider selling.

Negatives

• Insider selling, even if pre-scheduled, can sometimes be perceived negatively by the market, though the 10b5-1 plan mitigates this.

Risks

• No specific risks to the company are detailed in this Form 4 filing. The primary risk relates to market perception of insider selling, which is mitigated by the 10b5-1 plan.

Future Outlook

This Form 4 filing does not contain any forward-looking statements or guidance regarding the company's future outlook.

Industry Context

This filing reports an individual insider transaction and does not provide information relevant to broader industry trends or competitive landscape.

Related Party Transactions

• The shares sold were held indirectly by PJB Holdings LLC, which acquired them through a partial redemption of its interest in IBG Holdings LLC. This structure represents a related party arrangement for beneficial ownership.

Stakeholder Impact

• Shareholders: May observe a slight increase in shares available on the market, but the impact is generally minimal given the pre-scheduled nature of 10b5-1 sales.
• Employees, Customers, Suppliers, Creditors: No direct impact from this insider transaction.

Key Dates

Keywords

Interactive Brokers Group, IBKR, Paul J. Brody, Form 4, Insider Trading, Stock Sale, CFO, 10b5-1 Plan, Equity Transaction