SEC Form 4 · accession 0001397911-18-000025
LPL Financial Holdings Inc. · LPLA
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
John Andrew Kalbaugh
Officer — Managing Director
Period of report
Feb 23, 2018
Accepted (ET)
Feb 27, 2018 · 7:56 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 StockF1 | Feb 23, 2018 | A | 2,827 | $0.00 | A | 30,877 | D | |
| Common StockF3,F4 | Feb 26, 2018 | S | 2,764 | $65.20 | D | 28,113 | 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 StockF5 | $65.50 | Feb 23, 2018 | A | 8,745 | A | — | Feb 23, 2028 | Common Stock | 8,745 | 8,745 | D |
Explanation of responses
- F1These 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 23, 2019, February 23, 2020 and February 23, 2021. Vested shares will be issued to the reporting person as soon as practicable after the vesting date.
- F2The sale reported in this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on November 28, 2017.
- F3The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $65.03 to $65.40, 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 (3) to this Form 4.
- F4Consists of (i) 9,570 shares of Common Stock; (ii) 856 restricted stock units that vest in full on March 6, 2018; (iii) 1,541 restricted stock units that vest in full on March 6, 2018; (iv) 2,762 restricted stock units that vest in full on February 25, 2019; (v) 3,111 restricted stock units that vest in full on February 25, 2019; (vi) 3,253 restricted stock units that vest ratably on each of June 13, 2018 and June 13, 2019; (vii) 4,193 restricted stock units that vest ratably on each of March 13, 2018, March 13, 2019 and March 13, 2020; and (viii) the restricted stock units reported on this Form 4.
- F5This option becomes exercisable in three equal annual installments on each of February 23, 2019, February 23, 2020 and February 23, 2021.
Remarks
The signatory is signing on behalf of John Andrew Kalbaugh pursuant to a Power of Attorney dated August 3, 2015.