Regulatory filings viewed by FNG indicate that Peter Quick, a director on the board of Retail Forex and CFDs brokerage group Gain Capital, recently exercised 52,024 options to purchase GCAP shares. Gain Capital owns and operates the Forex.com and City Index brokerage brands.

At an exercise price of $3.83 per share, the total cost of the options exercise should come to $199,252. At Gain Capital’s current share price of $6.09, Mr. Quick’s on-paper profit on the exercise should come to about $117,574. Following the exercise, Mr. Quick now owns 233,710 GCAP shares, worth about $1.42 million.

The options exercised by Mr. Quick were actually pre-IPO options. Gain Capital, parent of Forex.com, went public at $9 per share in December 2010, and had issued a series of long dated option grants which vested over time to its Directors before the IPO.

The exercise of the pre-IPO options by Peter Quick follows a similar exercise of options by Gain Capital’s Chairman Joe Schenk.

Peter Quick has served as a Gain Capital board member since December 2006. He served as lead independent director from 2008 to 2010, and as Chairman of the board from December 2010 through October 2017. Since May 2005, Mr. Quick has acted a private investor managing a diversified portfolio of public and private investments. From July 2000 to May 2005, Mr. Quick served as the president and member of the board of governors of the American Stock Exchange, or AMEX. Prior to joining AMEX, Mr. Quick served from January 1983 to March 2000 as president and chief executive officer of Quick & Reilly, Inc., a leading national discount brokerage firm, which was acquired by Bank of America.

Gain Capital is in the process of being acquired for $6 per share, or $236 million in total, by StoneX (formerly INTL FCStone). That transaction is expected to close pending regulatory approval later in Q3.