A recent SEC filing by electronic trading major Interactive Brokers Group, Inc. (NASDAQ:IBKR) reveals that Dr. Thomas A.J. Frank, Executive Vice President and Chief Information Officer of the company, adopted a Rule 10b5-1 trading plan to sell 2,000,000 of the company’s Class A common stock.

This stock was received in partial redemption of his interests in IBG Holdings LLC. Dr. Frank entered into the plan as part of his personal long-term investment strategy for tax, asset diversification and liquidity.

Under the terms of the plan, Dr. Frank intends to sell the shares of the company’s Class A common stock over time at prevailing market prices, subject to the terms of the plan and SEC Rule 144. Hewill not have any control over the timing of the stock sales under the plan.

The transactions will occur until the earlier of the date on which all shares are sold, July 20, 2022 or the plan is terminated in accordance with its terms and applicable laws. All transactions under the plan will be disclosed in accordance with applicable securities laws, rules and regulations through appropriate filings with the SEC.

Dr. Frank joined Timber Hill in 1985. He is responsible for the development and maintenance of the Interactive Brokers’s trading, processing, and communications systems. Presently, he concentrates on development of brokerage systems.

He has a Ph.D. in Physics from MIT.