SEC Form 4 · accession 0001397911-17-000069
LPL Financial Holdings Inc. · LPLA
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Tracy Calder
Officer — Managing Director
Period of report
Mar 13, 2017
Accepted (ET)
Mar 15, 2017 · 9:07 pm EDT
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 Stock | Mar 13, 2017 | M | 9,561 | $19.85 | A | 34,165 | D | |
| Common StockF1 | Mar 13, 2017 | S | 6,465 | $39.3066 | D | 27,700 | D | |
| Common StockF2,F3 | Mar 13, 2017 | A | 2,412 | $0.00 | A | 30,112 | 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 StockF4 | $19.85 | Mar 13, 2017 | M | 9,561 | D | — | Feb 25, 2026 | Common Stock | 9,561 | 19,120 | D |
| Option to purchase Common StockF5 | $39.48 | Mar 13, 2017 | A | 8,443 | A | — | Mar 13, 2027 | Common Stock | 8,443 | 8,443 | D |
Explanation of responses
- F1The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $39.15 to $39.535, inclusive. The reporting person undertakes to provide to 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 footnotes to this Form 4.
- F2These 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 March 13, 2018, March 13, 2019 and March 13, 2020. Vested shares will be issued to the reporting person as soon as practicable after the vesting date.
- F3Consists of (i) 3,864 shares of Common Stock; (ii) 21,494 restricted stock units that vest ratably on each February 25, 2018 and February 25, 2019; (iii) 2,342 restricted stock units that vest ratably on each February 25, 2018 and February 25, 2019; and (iv) the restricted stock units reported on this Form 4.
- F4This option became exercisable 9,561 shares on February 25, 2017, which was the first anniversary of the grant date. The remaining shares become exercisable ratably on each of February 25, 2018 and February 25, 2019.
- F5This option becomes exercisable in three equal annual installments on each of March 13, 2018, March 13, 2019 and March 13, 2020.
Remarks
The signatory is signing on behalf of Tracy Calder pursuant to a Power of Attorney dated January 26, 2016.