When can I sell or transfer my Welcome Shares?

With the Refer a Friend promotion, you as the referred client have a "Welcome Share Balance" during the Award Period that changes based on the amount of net deposits. The number of shares you are entitled to may increase or decrease as deposits or withdrawals are made into/out of the referred account. The IBKR shares are granted at the end of the Award Period. …

If you choose to withdraw funds within the first year then your Welcome Share balance will decrease (not below zero) upon a withdrawal from your Referred Account based on the following formula:

Number of Shares Returned to IBKR= (Withdrawal Value / Net Deposit Value Before Withdrawal) x Welcome Share Balance Before Withdrawal…

IBKR will grant shares to a referred client’s IBKR account based on the net fair market value of assets deposited into the referred client’s account. The value of assets transferred in is computed using the closing price for the business day before IBKR learns of the transfer (date “T”). Specifically, market value is calculated as Quantity * Closing Price on T-1. IBKR shares will then be granted using the IBKR Closing Price on the day the transfer is processed. …

Clients are responsible for all tax payment and reporting obligations that arise as a result of the grant, vesting, settlement or ownership of the IBKR Welcome Shares, as well as the subsequent sale or other disposition of any Shares. When the grant vests, we will withhold in shares for foreign clients and liquidate the fractions for clients that can not hold fractions…