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TD Ameritrade CEO selling 200,000 shares of stock

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OMAHA, Neb. (AP) — TD Ameritrade says its president and chief executive plans to sell up to 200,000 shares of company stock to diversify his personal portfolio.

The company said Thursday that Fred Tomczyk (TOM-zick) plans to sell the shares between now and Sept. 15.

But Tomczyk will retain a significant stake in the company. The stock sale represents roughly 8 percent of Tomczyk's 2.4 TD Ameritrade shares.

The Omaha-based company said Tomczyk will continue to meet TD Ameritrade's requirement that he hold stock worth at least 10 times his base salary of $1 million.

Tomczyk has been Ameritrade's president and chief executive since the fall of 2008.

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