SEC Form 4 · accession 0001397911-16-000241
LPL Financial Holdings Inc. · LPLA
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Dan H. Arnold
Officer — President
Period of report
Feb 25, 2016
Accepted (ET)
Feb 29, 2016 · 7:51 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001397911
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF2 | Feb 25, 2016 | S | 1,095 | $19.2919 | D | 179,022 | D | |
| Common StockF3 | Feb 25, 2016 | A | 12,010 | $0.00 | A | 191,032 | D | |
| Common StockF4,F5,F6 | Feb 25, 2016 | A | 3,111 | $0.00 | A | 194,813 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Option to purchase Common StockF7 | $19.85 | Feb 25, 2016 | A | 98,031 | A | — | Feb 25, 2026 | Common Stock | 98,031 | 98,031 | D |
Explanation of responses
- F1The sale reported in this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 14, 2015.
- F2The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $19.14 to $19.36, 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 ranges set forth in this footnote (2) to this Form 4.
- F3These 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, 2017, February 25, 2018 and February 25, 2019. Vested shares will be issued to the reporting person as soon as practicable after the applicable vesting date.
- F4These 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 vest in full on February 25, 2019. Vested shares will be issued to the reporting person as soon as practicable after the vesting date.
- F5Consists of (i) 165,853.94 shares of Common Stock; (ii) 1,094 restricted stock units that vest in full on February 24, 2017; (iii) 9,122 restricted stock units that vest in full on February 24, 2017; (iv) 3,622 restricted stock units that vest in full on March 6, 2016, March 6, 2017 and March 6, 2018; and (v) the restricted stock units reported on this Form 4.
- F6Includes 669.94 shares acquired pursuant to a dividend reinvestment plan managed by an independent advisor.
- F7This option becomes exercisable in three equal annual installments on each of February 25, 2017, February 25, 2018 and February 25, 2019.