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  4. [Form 4] LPL Financial Holdings Inc. Insider Trading Activity

LPL Financial insider sale: 1,500 shares; 15,370 beneficially owned

Filing Impact
(Very High)
Filing Sentiment
(Negative)
Form Type
4

Rhea-AI Filing Summary

LPL Financial Holdings Inc. (LPLA) reported insider activity: Officer Greg Gates disclosed open‑market sales of 1,500 shares of common stock on November 5, 2025, effected under a Rule 10b5‑1 trading plan adopted on March 7, 2025.

The transactions were executed across multiple trades at weighted‑average prices, with tranche ranges from $372.39–$379.97 and one sale at $380.12. Following these sales, he beneficially owned 15,370 shares directly. This includes 10,641 shares of common stock and restricted stock units: 510 (vests February 25, 2026), 511 (vests June 12, 2026), 1,551 (vests February 25, 2026 and February 25, 2027), and 2,157 (vests February 25, 2026, February 25, 2027, and February 25, 2028).

Positive

  • None.

Negative

  • None.
Insider Gates Greg
Role Group Managing Director
Sold 1,500 shs ($565K)
Type Security Shares Price Value
Sale Common Stock 63 $372.62 $23K
Sale Common Stock 205 $374.00 $77K
Sale Common Stock 230 $374.86 $86K
Sale Common Stock 267 $375.80 $100K
Sale Common Stock 293 $377.01 $110K
Sale Common Stock 234 $378.24 $89K
Sale Common Stock 169 $379.58 $64K
Sale Common Stock 39 $380.12 $15K
Holdings After Transaction: Common Stock — 16,807 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 $372.39 to $372.81, 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 $373.41 to $374.40, 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 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 $374.42 to $375.26, 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 (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 $375.48 to $376.05, 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 (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 $376.64 to $377.59, 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. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $377.74 to $378.56, 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 (7) 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 $379.08 to $379.97, 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 (8) to this Form 4. Consists of (i) 10,641 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)
11/05/2025
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 11/05/2025 S(1) 63 D $372.62(2) 16,807 D
Common Stock 11/05/2025 S(1) 205 D $374(3) 16,602 D
Common Stock 11/05/2025 S(1) 230 D $374.86(4) 16,372 D
Common Stock 11/05/2025 S(1) 267 D $375.8(5) 16,105 D
Common Stock 11/05/2025 S(1) 293 D $377.01(6) 15,812 D
Common Stock 11/05/2025 S(1) 234 D $378.24(7) 15,578 D
Common Stock 11/05/2025 S(1) 169 D $379.58(8) 15,409 D
Common Stock 11/05/2025 S(1) 39 D $380.12 15,370(9) 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 $372.39 to $372.81, 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 $373.41 to $374.40, 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 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 $374.42 to $375.26, 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 (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 $375.48 to $376.05, 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 (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 $376.64 to $377.59, 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. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $377.74 to $378.56, 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 (7) to this Form 4.
8. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $379.08 to $379.97, 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 (8) to this Form 4.
9. Consists of (i) 10,641 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/ Robert S. Hatfield III, attorney-in-fact 11/07/2025
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Source: View Original Filing on SEC EDGAR

FAQ

How many LPLA shares did the officer sell, and when?

Greg Gates sold 1,500 shares of LPL Financial common stock on November 5, 2025.

Were the LPLA insider sales under a Rule 10b5-1 plan?

Yes. The sales were effected under a Rule 10b5-1 trading plan adopted on March 7, 2025.

At what prices were the LPLA shares sold?

Trades occurred at weighted‑average prices with tranche ranges from $372.39–$379.97 and one sale at $380.12.

What is the officer’s beneficial ownership after the transactions?

Following the sales, he beneficially owned 15,370 shares directly.

How many actual LPLA common shares and RSUs are included in beneficial ownership?

It includes 10,641 common shares and RSUs of 510, 511, 1,551, and 2,157 with scheduled vesting dates through February 25, 2028.

What are the RSU vesting dates disclosed for LPLA?

RSUs vest on February 25, 2026; June 12, 2026; February 25, 2027; and February 25, 2028 as specified by each grant.