LPL Financial (LPLA) Officer Sale: 80 Shares Sold via 10b5-1 Plan

Rhea-AI Filing Summary

Aneri Jambusaria, Group Managing Director of LPL Financial Holdings Inc. (LPLA), reported a sale of 80 shares of the issuer's common stock on 09/02/2025 at a price of $361.25 per share. The filing states the sale was executed under a Rule 10b5-1 trading plan adopted by the reporting person on December 11, 2024. After the sale, the reporting person beneficially owned 5,582 shares, consisting of 3,458 shares and restricted stock units vesting on specified dates through February 25, 2028. The Form 4 was signed by an attorney-in-fact, Robert S. Hatfield III, on 09/03/2025.

Positive

• Sale executed under a Rule 10b5-1 plan, indicating the transaction was pre-scheduled and compliant with insider trading controls
• Detailed disclosure of RSU vesting through February 25, 2028, providing transparency on future insider holdings

Negative

• Reduction of holdings by 80 shares recorded on 09/02/2025 (though size is small relative to total disclosed holdings)

Insights

Financial Analyst

TL;DR: An officer executed a small, pre-planned sale under a 10b5-1 plan; holdings remain concentrated in stock and time‑based RSUs.

The reported sale of 80 shares at $361.25 was effected under a Rule 10b5-1 plan adopted 12/11/2024, indicating the trade was pre-scheduled rather than opportunistic. Post-transaction beneficial ownership of 5,582 shares includes 3,458 shares and multiple tranches of restricted stock units vesting through 02/25/2028, which implies continued alignment with equity compensation and multi-year vesting. The transaction size is small relative to total holdings disclosed, suggesting limited immediate impact on ownership or control.

Corporate Governance Expert

TL;DR: Use of a 10b5-1 plan and attorney-in-fact signature indicates documented governance controls around insider trading.

The Form 4 discloses that the sale was made pursuant to a documented Rule 10b5-1 trading plan and the form was executed by an attorney-in-fact, reflecting adherence to procedural safeguards for insider transactions. The disclosure of RSU vesting schedules provides transparency on future potential dilution and insider alignment. The filing contains no indication of unusual or material governance concerns.

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).

X

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^*

Jambusaria Aneri

(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)
09/02/2025

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	09/02/2025		S(1)		80	D	$361.25	5,582(2)	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. The sale reported in this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 11, 2024.

2. Consists of (i) 3,458 shares of Common Stock; (ii) 259 restricted stock units that vest in full on February 25, 2026; (iii) 759 restricted stock units that vest ratably on each of February 25, 2026 and February 25, 2027; and (iv) 1,106 restricted stock units that vest ratably on each of February 25, 2026, February 25, 2027 and February 25, 2028.

Remarks:

The signatory is signing on behalf of Aneri Jambusaria pursuant to a Power of Attorney dated December 17, 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 insider transaction did LPLA officer Aneri Jambusaria report on Form 4?

The officer reported a sale of 80 shares of LPL Financial common stock on 09/02/2025 at $361.25 per share.

Was the sale by LPLA's Aneri Jambusaria pre-planned under a trading plan?

Yes. The sale was effected pursuant to a Rule 10b5-1 trading plan adopted on December 11, 2024.

How many LPLA shares did the reporting person own after the reported transaction?

Following the transaction the reporting person beneficially owned 5,582 shares, comprised of 3,458 shares and restricted stock units vesting through 02/25/2028.

Who signed the Form 4 for Aneri Jambusaria and when?

The Form 4 was signed by attorney-in-fact Robert S. Hatfield III on 09/03/2025.

What is the composition of the 5,582 shares reported after the sale?

It consists of (i) 3,458 shares of common stock; (ii) 259 RSUs vesting 02/25/2026; (iii) 759 RSUs vesting ratably on 02/25/2026 and 02/25/2027; and (iv) 1,106 RSUs vesting ratably on 02/25/2026, 02/25/2027 and 02/25/2028.