LPL Financial insider sales of 750 shares under 10b5-1; 16,870 shares remain

Rhea-AI Filing Summary

Greg Gates, Group Managing Director and officer of LPL Financial Holdings Inc. (LPLA), reported multiple sales of common stock executed on 10/06/2025. The transactions were effected under a Rule 10b5-1 trading plan adopted on 03/07/2025. The Form 4 shows five sale entries totaling 750 shares sold in tranches of 141, 266, 109, 132, and 102 shares at weighted-average prices of $312.15, $313.20, $314.04, $315.09, and $320.27, respectively. Following these sales, beneficial ownership is reported as 16,870 shares, which include a mix of vested shares and restricted stock units scheduled to vest through 02/25/2028. The filing is signed on behalf of Mr. Gates by an attorney-in-fact on 10/08/2025.

Insights

Equity Markets Analyst

Insider sold small, staged blocks via a 10b5-1 plan; market impact likely limited.

The sales total 750 shares executed across five tranches on 10/06/2025 at weighted-average prices between $312.15 and $320.27. Staggered executions and the use of a Rule 10b5-1 plan indicate prearranged, routine disposition rather than opportunistic trading.

Price ranges are narrow and the remaining beneficial ownership of 16,870 shares suggests these transactions are not a major reduction in holdings for an officer. Monitor future Form 4s if sales accelerate within a short window.

Corporate Governance Specialist

Compliance signals are clear: trades routed under a documented 10b5-1 plan and executed by counsel.

The filing discloses the plan adoption date of 03/07/2025 and contains footnotes offering share-by-price transparency if requested, which aligns with good disclosure practice. The form was signed by an attorney-in-fact on 10/08/2025.

Investors may note the vesting schedule detail: restricted stock units vesting through 02/25/2028, which affects the timeline for potential further insider sales tied to vesting events.

Insider Trade Summary

Net Seller: 750 shares ($235,814)

Net Sell 5 txns

Insider Gates Greg

Role Group Managing Director

Sold 750 shs ($236K)

Type	Security	Shares	Price	Value
Sale	Common Stock	141	$312.15	$44K
Sale	Common Stock	266	$313.20	$83K
Sale	Common Stock	109	$314.04	$34K
Sale	Common Stock	132	$315.09	$42K
Sale	Common Stock	102	$320.27	$33K

Holdings After Transaction: Common Stock — 17,479 shares (Direct)

Footnotes (1)

1. The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on March 7, 2025. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $311.57 to $312.26, 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 (2) to this Form 4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $312.59 to $313.28, 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 (3) to this Form 4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $314.04 to $314.05, 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. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $315.09 to $315.10, 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. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $320.27 to $320.50, 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. Consists of (i) 12,141 shares of Common Stock; (ii) 510 restricted stock units that vest in full on February 25, 2026; (iii) 511 restricted stock units that vest in full on June 12, 2026; (iv) 1,551 restricted stock units that vest ratably on each of February 25, 2026 and February 25, 2027; and (v) 2,157 restricted stock units that vest ratably on each of February 25, 2026, February 25, 2027 and February 25, 2028.

Form 4 Insider Transactions: What Each Field Means →

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^*

Gates Greg

(Last) (First) (Middle)

C/O LPL FINANCIAL

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)
10/06/2025

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	10/06/2025		S(1)		141	D	$312.15(2)	17,479	D
Common Stock	10/06/2025		S(1)		266	D	$313.2(3)	17,213	D
Common Stock	10/06/2025		S(1)		109	D	$314.04(4)	17,104	D
Common Stock	10/06/2025		S(1)		132	D	$315.09(5)	16,972	D
Common Stock	10/06/2025		S(1)		102	D	$320.27(6)	16,870(7)	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 sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on March 7, 2025.

2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $311.57 to $312.26, 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 (2) to this Form 4.

3. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $312.59 to $313.28, 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 (3) to this Form 4.

4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $314.04 to $314.05, 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.

5. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $315.09 to $315.10, 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.

6. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $320.27 to $320.50, 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.

7. Consists of (i) 12,141 shares of Common Stock; (ii) 510 restricted stock units that vest in full on February 25, 2026; (iii) 511 restricted stock units that vest in full on June 12, 2026; (iv) 1,551 restricted stock units that vest ratably on each of February 25, 2026 and February 25, 2027; and (v) 2,157 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 Greg Gates pursuant to a Power of Attorney dated December 17, 2024.

	/s/ Rachel E. Pearlman, attorney-in-fact	10/08/2025
	** Signature of Reporting Person	Date
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