Michelle Oroschakoff - Feb 25, 2023 Form 4 Insider Report for LPL Financial Holdings Inc. (LPLA)

Signature
/s/ Gregory M. Woods, attorney-in-fact
Stock symbol
LPLA
Transactions as of
Feb 25, 2023
Transactions value $
-$2,466,380
Form type
4
Date filed
2/28/2023, 05:43 PM
Previous filing
Feb 21, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LPLA Common Stock Award $0 +9.17K +39.31% $0.00 32.5K Feb 25, 2023 Direct F1
transaction LPLA Common Stock Tax liability -$1.28M -5.19K -15.96% $247.30 27.3K Feb 25, 2023 Direct
transaction LPLA Common Stock Award $0 +1.35K +4.94% $0.00 28.7K Feb 25, 2023 Direct F2
transaction LPLA Common Stock Sale -$245K -1K -3.49% $245.24 27.7K Feb 27, 2023 Direct F3, F4
transaction LPLA Common Stock Sale -$593K -2.41K -8.71% $246.10 25.3K Feb 27, 2023 Direct F3, F5
transaction LPLA Common Stock Sale -$346K -1.4K -5.55% $246.99 23.9K Feb 27, 2023 Direct F3, F6, F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents shares of Common Stock received upon vesting of performance stock units ("PSUs") that were granted on February 25, 2020. 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 December 31, 2022. Based on the Issuer's TSR relative to this peer group, PSUs were earned at 200% of the reporting person's target award.
F2 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, 2024, February 25, 2025, and February 25, 2026. Vested shares will be issued to the reporting person as soon as practicable after the vesting date.
F3 The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 12, 2022.
F4 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $244.61 to $245.58, 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 (4) to this Form 4.
F5 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $245.65 to $246.60, 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 (5) to this Form 4.
F6 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $246.69 to $247.45, 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 (6) to this Form 4.
F7 Consists of (i) 20,443.15 shares of Common Stock; (ii) 847 restricted stock units that vest in full on February 25, 2024; (iii) 1,212 restricted stock units that vest ratably on each of February 25, 2024 and February 25, 2025; and (iv) the restricted stock units reported on this Form 4.

Remarks:

The signatory is signing on behalf of Michelle Oroschakoff pursuant to a Power of Attorney dated August 10, 2015.