The Chief Executive Officer (CEO) of Interactive Brokers, Milan Galik, received annual total compensation of more than $8 million, a regulatory filing with the Securities and Exchange Commission (SEC) has shown.
In particular, on Wednesday, the large online trading provider submitted a proxy statement to the US regulator, which details information on its 2020 Annual Meeting of Stockholders, which will be held on Thursday, April 23, 2020, at 9:30 a.m. Eastern Time.
The proxy statement gives a brief breakdown of the pay executives of the brokerage received for 2019. According to the document, Galik received $8,365,000 in compensation last year – the largest salary received according to the information shown.
Specifically, Galik, who is the CEO, President and Director of Interactive Brokers, received a salary of $465,000. During the year, he was given a bonus of $2.5 million and stock awards worth $5.4 million, the filing showed.
In 2018, Galik received a total compensation of $7,990,000 and in 2017, $7,240,000. Therefore, in 2019, Galik’s compensation increased by around 4.7 percent on a yearly comparison and has grown by approximately 15.5 percent in the past two years.
The second-largest salary received by executives at Interactive Brokers was Paul J. Brody, the Chief Financial Officer (CFO), Treasurer, Secretary and Director. Overall, Brody received $5,185,000 in compensation in 2019.
Breaking this down, his salary was $465,000, and he received a bonus of $2.05 million and stock awards of $2.67 million. His total compensation has increased by 3.9 percent year-on-year, and 9.4 percent since 2017.
Average compensation was $88K for Interactive Brokers
According to the file with the SEC, the median of the annual total compensation of all employees (excluding the CEO and President) was $88,028. Therefore, the compensation earned by the CEO to the median employee was 95 to 1.