LPL Financial (NASDAQ: LPLA) CEO gets stock awards, withholds shares for taxes
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
LPL Financial Holdings Inc. chief executive officer Richard Steinmeier reported equity compensation changes in Common Stock. On February 25, 2026, he acquired 2,255 shares at no cost from vesting performance stock units earned at 81% of his target award, and received a new grant of 10,526 restricted stock units, each representing one future share as they vest in 2027, 2028 and 2029.
On the same date, 2,619 shares were disposed of at $318.47 per share to cover tax obligations, a tax-withholding transaction rather than an open-market sale. After these transactions, he directly owned 8,962 shares and indirectly held 16,812.7 shares through a family trust where he and his spouse are co-trustees and sole beneficiaries.
Positive
- None.
Negative
- None.
Insider Trade Summary
4 transactions reported
Mixed
4 txns
Insider
Steinmeier Richard
Role
Chief Executive Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 2,255 | $0.00 | -- |
| Tax Withholding | Common Stock | 2,619 | $318.47 | $834K |
| Grant/Award | Common Stock | 10,526 | $0.00 | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 11,581 shares (Direct);
Common Stock — 16,812.7 shares (Indirect, Held by Trust)
Footnotes (1)
- Represents shares of Common Stock received upon vesting of performance stock units ("PSUs") that were granted on February 25, 2023. The granted PSUs were eligible to become earned PSUs based on the Issuer's total stockholder return ("TSR") relative to the TSR of a predetermined comparator group over a three-year performance period ending February 14, 2026. Based on the Issuer's TSR relative to this peer group, PSUs were earned at 81% of the reporting person's target award. These shares represent restricted stock units. Each restricted stock unit represents a contingent right to receive one share of Common Stock on the applicable vesting date. These restricted stock units will vest ratably on each of February 25, 2027, February 25, 2028 and February 25, 2029. Vested shares will be issued to the reporting person as soon as practicable after the vesting date. Consists of (i) 3,446 shares of Common Stock; (ii) 868 restricted stock units that vest in full on February 25, 2027; (iii) 4,648 restricted stock units that vest ratably on each of February 25, 2027 and February 25, 2028; and (iv) the restricted stock units reported on this Form 4. The reporting person and his spouse are co-trustees of the trust and its sole beneficiaries. The reporting person remains the beneficial owner of, and retains his pecuniary interest in, the securities held by the trust.
FAQ
What insider transactions did LPLA CEO Richard Steinmeier report on February 25, 2026?
Richard Steinmeier reported stock awards and a tax-related share disposition. He received 2,255 shares from vested performance stock units and 10,526 new restricted stock units, while 2,619 shares were withheld at $318.47 each to satisfy tax obligations associated with his equity compensation.
How do the new LPLA restricted stock units granted to Richard Steinmeier vest?
The new restricted stock units vest in scheduled installments. They will vest ratably on February 25, 2027, February 25, 2028, and February 25, 2029, with vested shares issued to Richard Steinmeier as soon as practicable after each vesting date, subject to typical continued‑service conditions.
What is the performance basis of the LPLA performance stock units that vested for Richard Steinmeier?
The performance stock units vested based on total shareholder return. They were granted February 25, 2023 and measured LPL’s total stockholder return versus a comparator group over a three‑year period ending February 14, 2026, ultimately earning 81% of Steinmeier’s original target PSU award.