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LPL Financial (NASDAQ: LPLA) exec Cohen sells 3,300 shares after option exercise

Filing Impact
(Very High)
Filing Sentiment
(Negative)
Form Type
4

Rhea-AI Filing Summary

LPL Financial Holdings Group Managing Director Marc Eliot Cohen reported an exercise-and-sell transaction in company stock. On March 9, 2026, he exercised options for 2,212 shares of common stock at an exercise price of $77.53 per share, then sold those 2,212 shares in open-market trades at $308.75 per share.

He also sold an additional 1,088.2114 shares of common stock on March 10, 2026 at a weighted average price of $309.72, with individual trades ranging from $309.66 to $310.30. Following these transactions, Cohen holds 4,400 shares of LPL Financial common stock directly and reports a further 19 shares held indirectly by his spouse, along with multiple tranches of restricted stock units that vest between 2026 and 2029.

Positive

  • None.

Negative

  • None.
Insider Cohen Marc Eliot
Role Group Managing Director
Sold 3,300.211 shs ($1.02M)
Type Security Shares Price Value
Sale Common Stock 1,088.211 $309.72 $337K
Exercise Stock Option (Right to Buy) 2,212 $0.00 --
Exercise Common Stock 2,212 $77.53 $171K
Sale Common Stock 2,212 $308.75 $683K
holding Common Stock -- -- --
Holdings After Transaction: Common Stock — 4,400 shares (Direct); Stock Option (Right to Buy) — 0 shares (Direct); Common Stock — 19 shares (Indirect, Held by the Reporting Person's spouse)
Footnotes (1)
  1. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $309.66 to $310.30, inclusive. The reporting person undertakes to provide to LPL Financial Holdings Inc., any security holder of LPL Financial Holdings Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote (1) to this Form 4. Consists of (i) 2,118 shares of Common Stock; (ii) 85 restricted stock units that vest in full on June 12, 2026; (iii) 278 restricted stock units that vest in full on February 25, 2027; (iv) 516 restricted stock units that vest ratably on each of February 25, 2027 and February 25, 2028; and (v) 1,403 restricted stock units that vest ratably on each of February 25, 2027, February 25, 2028 and February 25, 2029. This option became exercisable in three installments, beginning February 25, 2020, which was the first anniversary of the date on which it was granted. The option became fully vested on February 25, 2022.
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Form 4 Insider Transactions: What Each Field Means →
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
Estimated average burden
hours per response: 0.5
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*
Cohen Marc Eliot
(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)
Group Managing Director
3. Date of Earliest Transaction (Month/Day/Year)
03/09/2026
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 03/09/2026 M 2,212 A $77.53 7,700.2114 D
Common Stock 03/09/2026 S 2,212 D $308.75 5,488.2114 D
Common Stock 03/10/2026 S 1,088.2114 D $309.72(1) 4,400(2) D
Common Stock 19 I Held by the Reporting Person's spouse
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
Stock Option (Right to Buy) $77.53 03/09/2026 M 2,212 (3) 02/25/2029 Common Stock 2,212 $0 0 D
Explanation of Responses:
1. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $309.66 to $310.30, inclusive. The reporting person undertakes to provide to LPL Financial Holdings Inc., any security holder of LPL Financial Holdings Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote (1) to this Form 4.
2. Consists of (i) 2,118 shares of Common Stock; (ii) 85 restricted stock units that vest in full on June 12, 2026; (iii) 278 restricted stock units that vest in full on February 25, 2027; (iv) 516 restricted stock units that vest ratably on each of February 25, 2027 and February 25, 2028; and (v) 1,403 restricted stock units that vest ratably on each of February 25, 2027, February 25, 2028 and February 25, 2029.
3. This option became exercisable in three installments, beginning February 25, 2020, which was the first anniversary of the date on which it was granted. The option became fully vested on February 25, 2022.
Remarks:
The signatory is signing on behalf of Marc Cohen pursuant to a Power of Attorney dated December 11, 2024.
/s/ Robert S. Hatfield III, attorney-in-fact 03/11/2026
** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What did LPL Financial (LPLA) executive Marc Cohen do in this Form 4?

Marc Cohen exercised stock options for 2,212 LPL Financial shares at $77.53 and sold those shares at $308.75. He also sold 1,088.2114 additional shares at a weighted average price of $309.72 across multiple trades.

How many LPL Financial (LPLA) shares did Marc Cohen sell overall?

Marc Cohen sold a total of 3,300.2114 LPL Financial common shares across two days. This included 2,212 shares from an option exercise and 1,088.2114 additional shares in separate open-market transactions.

What are Marc Cohen’s LPL Financial (LPLA) holdings after these transactions?

After the reported transactions, Marc Cohen directly holds 4,400 LPL Financial common shares. He also reports 19 additional shares held indirectly by his spouse, plus several blocks of restricted stock units vesting from 2026 through 2029.

At what prices were Marc Cohen’s LPL Financial (LPLA) shares sold?

The 2,212 shares from the option exercise were sold at $308.75 per share. The 1,088.2114 additional shares were sold at a weighted average price of $309.72, with individual sale prices between $309.66 and $310.30.

What stock options did Marc Cohen exercise in LPL Financial (LPLA)?

Marc Cohen exercised a stock option covering 2,212 LPL Financial shares at a conversion price of $77.53. Footnotes state this option vested in installments beginning February 25, 2020 and became fully vested on February 25, 2022.

What future equity does Marc Cohen hold in LPL Financial (LPLA)?

Marc Cohen’s position includes restricted stock units: 85 vesting June 12, 2026, 278 vesting February 25, 2027, 516 vesting ratably in 2027 and 2028, and 1,403 vesting ratably in 2027, 2028 and 2029, in addition to his current share holdings.