[144] LPL Financial Holdings Inc. SEC Filing

Rhea-AI Filing Summary

LPL Financial Holdings Inc. (LPLA) filed a Form 144 disclosing a proposed sale of 1,500 common shares by insider Gregory Gates. The shares carry an aggregate market value of $573,947.49, based on prices prevailing at the time of filing. The transaction is scheduled for 07 July 2025 through broker Fidelity Brokerage Services LLC on the NASDAQ exchange.

The shares were originally acquired on 11 December 2021 via restricted-stock vesting classified as compensation. Gates has already sold an identical block of 1,500 shares on 05 June 2025, realizing gross proceeds of $568,299.99. LPLA reports 79,975,719 shares outstanding, making the proposed sale approximately 0.0019 % of shares in circulation—immaterial from a float-supply perspective.

Form 144 contains the customary representation that the seller is not in possession of undisclosed material information. No reference is made to a Rule 10b5-1 trading plan, and no adverse operational data accompanies the notice. Overall, the filing signals routine personal liquidity management rather than a strategic shift by the company or its leadership.

Positive

• Sale represents only 0.0019 % of outstanding shares, implying minimal dilution or market impact
• Disclosure via Form 144 provides transparency into insider trading intentions, supporting governance best practices

Negative

• Continued insider selling (3,000 shares in two months) could raise sentiment concerns if pattern persists
• No 10b5-1 plan referenced, leaving timing discretion that may be perceived negatively by some investors

Insights

Corporate Governance Expert

TL;DR: Minor insider sale (<0.002 % of float) appears routine; governance impact negligible.

The Form 144 reveals a single executive selling 1,500 shares, worth roughly $574k. With nearly 80 million shares outstanding, the divestiture is statistically immaterial and unlikely to influence voting control or market liquidity. No 10b5-1 plan is cited, so timing could be discretionary, but absence of additional insider activity or negative disclosures limits concern. The required attestation that no material non-public information exists mitigates governance risk. I classify the event as neutral.

Portfolio Manager

TL;DR: Transaction de-minimis for valuation; monitor only if pattern accelerates.

From a portfolio perspective, a $0.57 m sale against LPLA’s multibillion-dollar market cap does not alter the investment thesis. The insider’s prior June sale of equal size suggests planned diversification rather than distress. Volume represents under two basis points of daily average trading, so price impact should be negligible. I’d track upcoming insider filings for trend confirmation but would not adjust position sizing based solely on this notice.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Fidelity Brokerage Services LLC 900 Salem Street Smithfield RI 02917	1500	573947.49	79975719	07/03/2025	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	12/11/2021	Restricted Stock Vesting	Issuer			1500	12/11/2021	Compensation

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
Gregory Gates 4707 Executive Drive San Diego CA 92121	Common	06/05/2025	1500	568299.99

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

How many LPLA shares are being sold according to the Form 144?

The filing covers 1,500 common shares of LPL Financial Holdings Inc.

What is the market value of the proposed LPLA share sale?

The aggregate market value is $573,947.49.

Who is the insider selling LPLA shares?

The seller is Gregory Gates, an affiliate of the company.

When is the planned sale date for the LPLA shares?

The approximate sale date listed is 07 July 2025.

How does the sale compare to LPLA shares outstanding?

The 1,500 shares equal roughly 0.0019 % of the 79,975,719 shares outstanding.