LPL Insider Filing: Director Receives Vested Stock Units via DDCP

Rhea-AI Filing Summary

Richard P. Schifter, a director of LPL Financial Holdings Inc. (LPLA), reported receipt of stock units credited to his Non-Employee Director Deferred Compensation Plan on 08/29/2025. The stock units were granted under the issuer's 2021 Omnibus Equity Incentive Plan, are fully vested, and were credited in connection with a quarterly cash dividend. Following the reported transaction the filing shows 39,210.8345 shares beneficially owned. The reporting person also discloses indirect holdings of 440 shares each in eleven grandchild trusts for which he is co-trustee and remains the beneficial owner.

Positive

• Stock units are fully vested, meaning the reporting person has an unconditional right to the underlying shares.
• 39,210.8345 shares beneficially owned following the transaction, increasing disclosed alignment with shareholders.
• Disclosure of indirect holdings via trusts clarifies beneficial ownership and avoids ambiguity about control.

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Director received fully vested equity credited to a deferred compensation account; disclosure is routine and consistent with board compensation practices.

The filing documents a director-level equity credit arising from dividend-related deferred compensation. The units are fully vested and were credited, not purchased, which is why the reported price is $0. The disclosure of co-trustee indirect holdings in multiple small trusts clarifies continued beneficial ownership and avoids ambiguity about control. For governance review, this is a standard compensation-related disclosure and presents no immediate governance red flags.

Securities/Compensation Analyst

TL;DR: Stock units granted under the company's omnibus plan increased reported beneficial ownership; transaction appears non-cash and administrative.

The reported transaction code and explanation indicate crediting of stock units to a deferred compensation plan tied to dividends rather than an open-market purchase or option exercise. The filing reports 39,210.8345 shares beneficially owned following the credit, and multiple small indirect holdings (eleven trusts of 440 shares each). Such credits slightly increase insider alignment with shareholders but do not alter control or debt positions.

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^*

SCHIFTER RICHARD P

(Last) (First) (Middle)

C/O TPG

301 COMMERCE STREET, SUITE 3300

(Street)

FORT WORTH TX 76102

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
08/29/2025

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	08/29/2025		A		14(1)	A	$0	39,210.8345	D
Common Stock								440	I	By Co-Trustee of Grandchild's Trust #1(2)
Common Stock								440	I	By Co-Trustee of Grandchild's Trust #2(2)
Common Stock								440	I	By Co-Trustee of Grandchild's Trust #3(2)
Common Stock								440	I	By Co-Trustee of Grandchild's Trust #4(2)
Common Stock								440	I	By Co-Trustee of Grandchild's Trust #5(2)
Common Stock								440	I	By Co-Trustee of Grandchild's Trust #6(2)
Common Stock								440	I	By Co-Trustee of Grandchild's Trust #7(2)
Common Stock								440	I	By Co-Trustee of Grandchild's Trust #8(2)
Common Stock								440	I	By Co-Trustee of Grandchild's Trust #9(2)
Common Stock								440	I	By Co-Trustee of Grandchild's Trust #10(2)
Common Stock								440	I	By Co-Trustee of Grandchild's Trust #11(2)

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. Represents stock units granted under the Issuer's 2021 Omnibus Equity Incentive Plan. Each stock unit represents the right to receive one share of common stock and is fully vested. The reporting person was previously granted stock units that were subject to a written deferral election under the Issuer's Non-Employee Director Deferred Compensation Plan (the "DDCP"), which stock units are fully vested as of the date hereof. The stock units reported hereby were credited to the reporting person's DDCP account in connection with a quarterly cash dividend that was paid on shares of common stock.

2. The reporting person is a co-trustee of each trust, and the sole beneficiary of each trust is a grandchild of the reporting person. The reporting person remains the beneficial owner of the securities held by such trusts.

Remarks:

The signatory is signing on behalf of Richard P. Schifter pursuant to a Power of Attorney dated November 19, 2024.

	/s/ Robert S. Hatfield III, attorney-in-fact	09/03/2025
	** 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 did Richard P. Schifter report on the Form 4 for LPLA?

The report discloses the crediting of fully vested stock units to his deferred compensation account on 08/29/2025, resulting in 39,210.8345 shares beneficially owned.

Were any shares purchased or sold in the reported transaction?

No purchase or sale is indicated; the stock units were credited in connection with a quarterly cash dividend and the reported price is $0.

What is the nature of the indirect holdings disclosed?

The filing lists eleven grandchild trusts, each holding 440 shares; the reporting person is co-trustee for each and states he remains the beneficial owner.

Does this Form 4 indicate a change in control or significant insider selling?

No. The filing documents compensation-related crediting of units and small indirect trust holdings; it does not show a change in control or material insider sale.

Under which plan were the stock units granted?

The units were granted under the issuer's 2021 Omnibus Equity Incentive Plan and credited to the Non-Employee Director Deferred Compensation Plan (DDCP).