[Form 4] LPL Financial Holdings Inc. Insider Trading Activity

Rhea-AI Filing Summary

LPL Financial Holdings Inc. (LPLA) Form 4 shows that Katharine Reeping, Principal Accounting Officer, disposed of 56 shares of the company's common stock on 09/09/2025 at a price of $339.97 per share. After the reported sale, Reeping is recorded as beneficially owning 1,971.9057 shares, which the filing explains consist of 449.9057 vested shares plus a mix of restricted stock units (RSUs) with vesting dates in 2026, 2027 and 2028.

The filing is signed by an attorney-in-fact under a power of attorney dated February 25, 2025, indicating the form was submitted on behalf of Reeping. No derivative transactions or additional compensatory exercises are reported.

Positive

• Timely disclosure of the transaction under Section 16, showing compliance with reporting requirements
• Substantial remaining equity held in the form of RSUs with multi-year vesting, indicating continued alignment with shareholders

Negative

• Insider disposed of 56 shares on 09/09/2025 at $339.97 per share

Insights

Securities Analyst

TL;DR: Routine small insider sale by a senior officer; filing discloses detailed RSU vesting schedule and post-sale holdings.

The sale of 56 shares at $339.97 appears limited in size relative to the officer's total holdings and consists primarily of vested shares and time-based restricted stock units that vest through 2028. This disclosure is standard under Section 16 and provides transparency on executive ownership and incentive alignment. There is no indication of exercising options or derivative activity, and the filing was executed under a power of attorney.

Corporate Governance Expert

TL;DR: Compliance-focused disclosure showing continued equity retention via RSUs with multi-year vesting.

The itemized breakdown of the 1,971.9057 shares clarifies that a meaningful portion of the reporting person's economic interest remains locked in through RSU vesting schedules (2026–2028), which supports long-term alignment with shareholders. The small disposition reported is consistent with routine liquidity or portfolio management and does not by itself signal a governance concern.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Reeping Katharine

(Last) (First) (Middle)

C/O LPL FINANCIAL HOLDINGS INC.

4707 EXECUTIVE DRIVE

(Street)

SAN DIEGO CA 92121

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
LPL Financial Holdings Inc. [ LPLA ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Principal Accounting Officer

3. Date of Earliest Transaction (Month/Day/Year)
09/09/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	09/09/2025		F		56	D	$339.97	1,971.9057(1)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Consists of (i) 449.9057 shares of Common Stock; (ii) 135 restricted stock units that vest in full on February 25, 2026; (iii) 542 restricted stock units that vest ratably on each of February 25, 2026 and February 25, 2027; (iv) 569 restricted stock units that vest ratably on each of February 25, 2026, February 25, 2027 and February 25, 2028; and (v) 276 restricted stock units that vest in full on February 25, 2027.

Remarks:

The signatory is signing on behalf of Katharine Reeping pursuant to a Power of Attorney dated February 25, 2025.

	/s/ Robert S. Hatfield III, attorney-in-fact	09/11/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What transaction did Katharine Reeping report on the Form 4 for LPLA?

The Form 4 reports a disposition of 56 shares of LPL Financial common stock on 09/09/2025 at a price of $339.97 per share.

How many LPL shares does the reporting person beneficially own after the transaction?

The filing reports beneficial ownership of 1,971.9057 shares following the reported transaction.

What composes the 1,971.9057 shares reported as beneficially owned?

The amount consists of 449.9057 vested shares plus restricted stock units: 135 RSUs vesting in full on 02/25/2026; 542 RSUs vesting ratably on 02/25/2026 and 02/25/2027; 569 RSUs vesting ratably on 02/25/2026, 02/25/2027 and 02/25/2028; and 276 RSUs vesting in full on 02/25/2027.

Was the Form 4 signed directly by the reporting person?

The form was signed by an attorney-in-fact, Robert S. Hatfield III, under a power of attorney dated 02/25/2025.

Does the Form 4 report any option exercises or derivative transactions?

No. The filing lists only a non-derivative disposition of common stock and does not report derivative security transactions.