ITG CEO reports indirect LLC and Class B holdings
ITG, Inc. director and Chief Executive Officer Andrew Parrott filed an initial ownership report showing indirect interests in the company’s equity.
Rhea-AI Filing Summary
ITG, Inc. director and Chief Executive Officer Andrew Parrott filed an initial ownership report showing indirect interests in the company’s equity. The filing lists 215,744 LLC Interests of ITG Parent, LLC and an equal number of non-economic voting shares of Class B common stock held by ITG Management Holdings, LLC on his behalf, with beneficial ownership disclaimed except for pecuniary interest. Each LLC Interest can be exchanged, together with cancellation of a Class B share, for one share of Class A common stock or a cash payment based on the volume-weighted average market price.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
Parrott Andrew
Role
Chief Executive Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | LLC Interests | -- | -- | -- |
| holding | Class B common stock | -- | -- | -- |
Holdings After Transaction:
LLC Interests — 215,744 contracts (Indirect, See footnote);
Class B common stock — 215,744 shares (Indirect, See footnote)
Footnotes (2)
- F1. The reported securities represent common units of ITG Parent, LLC ("LLC Interests") and an equal number of non-economic voting shares of Class B common stock, each directly held by ITG Management Holdings, LLC ("Management Holdings") on behalf of the Reporting Person. The Reporting Person expressly disclaims beneficial ownership of the securities held by Management Holdings except to the extent of their pecuniary interest therein.
- F2. Each LLC Interest, upon the cancellation of an equal number of shares of Class B common stock, may be exchanged from time to time, for an equal number of shares of Class A common stock (or, at the election of a majority of the Issuer's disinterested directors, a cash payment equal to a volume-weighted average market price of one share of Class A common stock for each LLC Interest).
Key Figures
Indirect Class B holdings: 215,744 shares
LLC Interests: 215,744 units
Underlying Class A exchange ratio: 1:1
+1 more
4 metrics
Indirect Class B holdings
215,744 shares
Non-economic voting Class B common stock held by ITG Management Holdings, LLC
LLC Interests
215,744 units
Common units of ITG Parent, LLC corresponding to Class A common stock
Underlying Class A exchange ratio
1:1
Each LLC Interest exchangeable for one share of Class A common stock
Exercise price of LLC Interests
$0.0000
Stated exercise price for LLC Interests in derivative summary
Key Terms
LLC Interests, Class B common stock, pecuniary interest, volume-weighted average market price
4 terms
LLC Interests financial
"The reported securities represent common units of ITG Parent, LLC ("LLC Interests") and an equal number of non-economic voting shares"
Class B common stock financial
"LLC Interests and an equal number of non-economic voting shares of Class B common stock, each directly held by ITG Management Holdings, LLC"
A class B common stock is one of multiple types of a company’s ordinary shares that carries specific rights—often different voting power or dividend priority—compared with other classes. For investors it matters because those differences affect how much influence you have over company decisions, the income you might receive, and how freely the shares trade; think of it like owning a car with different keys: some keys let you start the engine and open the trunk, others only unlock the door.
pecuniary interest financial
"The Reporting Person expressly disclaims beneficial ownership of the securities held by Management Holdings except to the extent of their pecuniary interest therein"
volume-weighted average market price financial
"a cash payment equal to a volume-weighted average market price of one share of Class A common stock for each LLC Interest"
Volume-weighted average market price is the average price at which a security trades over a set period, where each trade’s price is given more influence based on how many shares changed hands. Think of it like calculating the average cost of apples in a market but giving more weight to the prices of the biggest purchases; investors use it to judge whether a trade was made at a typical, bargain, or expensive price and to benchmark trading performance.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What does the ITG (ITG) Form 3 filing by Andrew Parrott report?
The Form 3 reports Andrew Parrott’s initial indirect holdings tied to ITG. It shows 215,744 LLC Interests and an equal number of Class B voting shares held by ITG Management Holdings, LLC on his behalf, with beneficial ownership disclaimed except for his pecuniary interest.
Can the ITG LLC Interests reported on Form 3 be converted into Class A common stock?
Yes. Each LLC Interest, coupled with cancelling one Class B share, may be exchanged for one share of Class A common stock. Alternatively, disinterested directors may elect a cash payment equal to a volume-weighted average market price per LLC Interest.
Who directly holds the ITG securities reported for Andrew Parrott on Form 3?
The securities are directly held by ITG Management Holdings, LLC. They hold common units of ITG Parent, LLC and matching Class B voting shares on behalf of Andrew Parrott, with Parrott expressly disclaiming beneficial ownership except to the extent of his pecuniary interest in those holdings.
Does the ITG Form 3 show any insider buy or sell transactions?
No insider buys or sells are shown in this Form 3. It is an initial ownership report listing indirect holdings in LLC Interests and Class B shares, not a record of recent market purchases, sales, or option exercises by Andrew Parrott.
AI-generated analysis. How Rhea-AI works. Not financial advice.
