GAIN Capital issues shares to eight key personnel


Gain Capital Holdings Inc (NYSE:GCAP) has issued a series of shares to eight of its directors, comprising of four non-executive directors, and key senior executives including CEO Glenn Stevens, General Counsel Diego Rotsztain, Chief Commercial Officer Jeffrey Scott and Samantha Roady, the firm’s Chief Marketing Officer.

As reported by filings with the Securities and Exchange Commission (SEC) dated May 28, remuneration in the form of company shares as compensation for service as a non-executive director has been awarded to four individuals, namely Christopher Calhoun, Chris Sugden, Peter Quick and Joseph A. Schenk for their services during 2014.

The shares, which take the form of restricted stock units, vest in twelve equal monthly installments starting one month after the day following the issuer’s annual meeting of stockholders in the year of grant.

Each of the three non-executive directors have received an equal number of units of GAIN Capital common stock, which has been divided into two transations, with 7,537 shares issued on March 5, 2014 at nil cost, and 8,937 shares issued on May 26, 2015 at nil cost.

In addition to this, four of the company’s senior executives have been issued with GAIN Capital stock,

GAIN Capital CEO Glenn Stevens has received 82,018 shares, which at current value amounts to approximately $780,000 in monetary value.

These shares take the form of restricted stock units, which vest at a rate of 25% annually over four years commencing on the first anniversary of the date of grant. Such stock options vest 25% annually over four years commencing on the first anniversary of the date of grant, and the stock options have a term of seven years.

Mr. Stevens also exercised his right to convert 56,851 units of beneficially held securities into units of common stock, at nil cost.

The company’s General Counsel Diego Rotsztain was awarded 20,408 units of common stock, worth approximately $194,000 on the same basis as those awarded to Mr. Stevens.

Mr. Rotsztain also converted 20,408 units of beneficially held securities in the form of options into shares at nil cost. This acquisition of further options by Mr. Rotsztain follows his recent sale of $553,000 worth of GAIN Capital stock.

GAIN Capital’s Chief Operating Officer Jeffrey Scott has been awarded 18,927 units of common stock, worth approximately $180,000, and has also exercised his options to convert 13,119 units of beneficially held securities into shares.

Mr. Scott’s award of stock follows several instances in which he sold shares in the company during the course of recent months, the most notable of which was a share sale which netted him $192,000, followed by a further two transactions in which his net proceeds were $93,700.

Finally, the firm’s Chief Marketing Officer Samantha Roady has been awarded 21,030 shares, worth approximately $200,000.

Ms. Roady was awarded a vast number of shares in GAIN Capital in January this year, at a value of $1.2 million. At the time of the firm having awarded her those shares, Ms. Roady sold $380,000 worth of stock.

During the course of this year, Ms. Roady has made several transactions involving the sale of shares in the firm, amounting to a total cash value of $326,000.

For the full list of SEC filings documenting these transactions, click here.

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GAIN Capital issues shares to eight key personnel

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